Conexus Credit Union has partnered with a Canadian company to offer foreign exchange risk management to the credit union’s business members.
Conexus announced Wednesday that it had partnered with EncoreFX.
“We help companies by developing a plan or policy to take some of the risk of foreign exchange,” said Matthew Gustavson, EncoreFX director of national partnerships.
He used the example of someone buying a million-dollar piece of equipment. When they order the equipment from the American manufacturer, it might cost $1.3 million Canadian. But a sudden surge in the US dollar means that when it’s time to pay for and receive equipment, it now costs $1.5 million.
“We help…
