New Updates:
- Formal Request to the Government for a Public Inquiry. Premier Ford responded to our formal request and a meeting has been set with the “Minister of Finance”.
- Class Action V Central 1 Credit Union / Grant Thornton
- Class Action V BMO
- Press Release June 2021
- Canadian Government agreeing with ruling to reinstate company that funds are owing from Central 1
Who We Are
The Muslim Credit Union Members group was formed in 2021 by several victims of the illegal actions taken by Central 1 Credit Union against UM Financial in 2011.
UM Financial was a company started by Toronto community members in 2004 and helped finance over 500 homes with funding from Central 1 Credit Union. Central 1 Credit Union put UM Financial into receivership then bankruptcy in 2011 which affected many of us Muslim Credit Union members but in 2019 a Superior Court Judged ruled it should never have happened as UM was in a partnership with Central.
In addition, we have Muslim Credit Union members whose bank accounts were closed by major Canadian banks for unjustified reasons – something that continues to happen with Muslim Canadian Charities.
Our team wishes to stop these Islamophobia activities by the Canadian financial institutions and require your support to create awareness. We issued a press release in 2021 and shared with many including some MPs. But more needs to be done – and we need your help.
Support our Muslim in Canada Legal Defence Fund at GoFundMe.
Funds to be used to hire a lawyer, Public Relation company and consultants to combat Islamophobia affecting Canadian Muslims.”
Islamic Finance News – Feb 08, 2023
Featured Article about our Class Action
Did you know?
Credit Union relied on Right Wing Websites with Hate Speech to illegally terminate Halal Home financing for hundreds of Muslim Clients in Canada
UM’s illegal receivership by Central 1 Credit Union occurred during the time of the Federal Conservative government were the government promoting such things as the Niqab ban and barbaric cultural practices hotline.
Many past Conservative MPs have now distanced themselves from these Islamophobic actions. We are hoping that Credit Union’s current management and board will distance them from the discrimination and treatment towards Muslim Credit Union members during that period. We have 6 retired Judges ready to do an independent investigation however Credit Union has not responded nor allowed our case to proceed through courts or Human Rights Commissions.
We are gathering impact statements of losses or suffering by Muslim Credit Union Members. Please email or make a short video.
Were you one of the victims? Write to us today.
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Yes, I was one of the 500 existing UM Financial Customers
Yes, I was one of the 6000 clients in waiting for a UM Financial mortgage.
Quotes from Justice Ferguson’s Endorsement
[268] “Sacco (Credit Union Employee) was further unaware of the multiple edits to the original commitment letters that had been drafted to ensure that the contracts themselves were Shariah compliant. Sacco was asked to compare the executed commitment letter with the draft version where terminology was changed from traditional mortgage terms such as “borrower” and “lender” to “credit facility utilizer” and “credit facility provider”, terms that are not industry standard, but satisfy the requirements of Shariah law.”
Justice Ferguson Endorsement June 7 2019
[272] “Years later, Kalair continued to use the language of Shariah law,
while Sacco (Credit Union Employee) used the language of traditional finance. This caused friction in the CUCO/Central 1 and UM relationship and is critical to understanding and assessing the honesty of Kalair’s belief in the propriety of his actions.”
Justice Ferguson Endorsement June 7 2019
[301] “UM grew to the point where it had as many as 20 employees and 8 offices. Both UM and CUCO/Central 1 were profitable. Millions of dollars were advanced by CUCO/Central 1 and hundreds of Muslim Canadians had Shariah compliant mortgages. CUCO/Central 1 blamed the credit crisis when they reneged on the $49 million dollar commitment letter that was issued by Lohmueller in 2007 before he left CUCO/Central 1. Without that additional funding, UM was unable to provide finance to any additional homeowners and its profit was limited to existing clientele.”
Justice Ferguson Endorsement June 7 2019
[331] “However, when the credit crisis hit in 2007, CUCO/Central 1 made the unilateral decision not to finance any new mortgages, reneging on its $49 million commitment letter. CUCO/Central 1 also clawed back the profit margin that UM had been earning on existing mortgages to the point where UM was left servicing many mortgages essentially for free. UM made efforts to transfer the mortgage portfolio to alternative financial lenders but this was without success.”
Justice Ferguson Endorsement June 7 2019
[267] “Sacco was never given any indication by anyone at CUCO/Central 1 that UM was anything but a traditional interest-bearing commercial loan company. She was never informed of any aspects of the Shariah compliant relationship and did not undertake any steps to ensure Shariah compliance.”
Justice Ferguson Endorsement June 7 2019
Job Posting: Human Rights/Litigation Lawyer
Our group is looking to hire an Ontario lawyer to lead our group’s legal and human rights actions. The role can be part time or full time. We are flexible to compensation but prefer a flat fee. We do have a professional corporate office that can be used full time which is shared with other lawyers. Litigation files involve libel, human rights, breach of contract, appeal, etc. We are seeking a lawyer eager to defend clients and human rights issues. Please contact info@muslimcreditunionmembers.
Recent Documents // That you should review
Matthew Green’s Letter to Peter Routledge about MCUM
Documents from 2005-2010
