A Sad day for democracy at Coast Capital Savings Credit Union

The results of the vote were announced today at the AGM.

The Board’s sleight of hand tricks worked as planned. It is a sad day for democracy at Coast Capital Savings Credit Union.
Sleight of Hand Tricks Pays Off for Directors

As feared, the Board’s three recommended Candidates were all elected. There will be no change in the board this year. The real small Special Interest Group within Coast Capital won this year.

As for the Special Resolutions, the Board’s strategy of creating four shadow resolutions confused members as planned, splitting the vote and ensuring that none of the eight Special Resolutions passed. That means that there will be no change to the rules. Exactly the outcome that could be expected by such a confusing and biased Special Resolutions booklet.

The board was questioned about their tactics in this election and claimed that they created the shadow resolutions simply to give members clarity about the board’s position. Many members asked why the Board felt that their position should be different than members, and why the Director’s position should override the interests of the members. Their answers fell short and many left dissatisfied.

The Board was reminded that the Special Resolutions booklet was undemocratic, biased, and an embarrassment to members. Speakers told directors that members should be listened to and congratulated for raising Special Resolutions, not insulted and definitely not be called a Special Interest group by the Board.
Magician Holding a Magic Wand

So where do we go from here? What is next?
That is something that we will have to decide now that the AGM is over and the results are in.

Credit Unions are about Members helping Members, not Directors helping themselves.

What do you think? Was the election fair? Do you trust that the ballots were counted correctly?

We want to thank the members who supported us and took the time to vote, and we thank our many volunteer members who worked very long hours to try and make Coast Capital better. Uncle Louis might not be proud of how today’s AGM went, but he would be proud of all of you. Thanks!
Delivering Petitions to Coast Capital

4 thoughts on “A Sad day for democracy at Coast Capital Savings Credit Union

  1. The election materials from the Board were a disgrace to the Credit Union movement in their blatant bias and the four seemingly similar but actually opposite fraudulent resolutions placed on the ballot by the incumbent board were obviously put there for the sole purpose of confusing the members about the four real resolutions put forward by the members, particularly as the four fraudulent board resolutions were put in front of the original four resolutions on the ballot.

    The ballots *may* have been counted correctly, but given the endless sleazy “tricks” the self-serving pocket-lining cozy little gang running Coast Capital have been up to for the past decade, I would say there is a better chance that the 2000 Presidential vote count in Florida was honest and fair.

    I opened up an account at Vancity and moved most of my money there when this sleazy gang tried to “privatize” Surrey Credit Union and sell it to Canada Trust about 10 or 15 years ago, giving themselves a whack of shares as part of the deal. This sleazy gang of self-replicating cr**ks is always up to something, always looking for another way to put more of your money in their pockets. They should NEVER be trusted.

    I’ll be leaving most of my money in Vancity.

    I want to thank the volunteers at Coast Capital Compensation Watch for their tireless work on behalf of all members of CC. Too bad I can’t say the same about the Board of Directors.

    • We tried hard to fix Coast Capital. We apologize for losing this battle after so many members supported us and stuck with Coast Capital for so long.

      We understand that when members lose confidence in the leadership of their Credit Union, it is time to move on. Thank you for your support.

      We regret that these Directors took such extreme measures to secure their position and excessive pay, at the cost of the good reputation of Coast Capital and at the neglect of their fiduciary responsibility to its members.

      A sad day for credit unions in BC and everywhere.

  2. I want to thank all the volunteers at Coast Capital Compensation Watch for your tireless efforts in pushing back against the arrogance of the CCS Board. It is truly sad and unfortunate that their obfuscation tactics succeeded (I think the much maligned Florida butterfly ballot in the 2000 US presidential election was more clear than the CCS ballot). I personally would have left CCS a long time ago if it were not for CCCW and this important vote. The results of this vote are the final nail in the coffin for me and I will soon be transferring my accounts to another credit union with an accountable Board that hasn’t forgotten that they are basically volunteers and are in place to serve the members and work for them, not against them.

    I hope CCCW continues to fight for the best interest of all members, including those who did not have the foresight to see the downfall of voting for the Board’s resolutions.

Want to add a comment or question? Post it here.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s