Have you received your Coast Capital Board of Governor’s election ballot yet?

Your vote matters! Thanks to your efforts in the last election, we have made quite a difference to the governance of Coast Capital. With your help, we forced the removal of Bill Wellburn from the Board, as well as helped the CEO move on. While we have much more work to do, FICOM tells us that we should be proud of the changes that we have helped make happen at Coast Capital.

The voting package contains recommendations on how to vote.
We think Members are smarter than that. Read the descriptions of the candidates and make up your own mind. It is your credit union. Vote your way!

Want to know how we will vote?
We prefer to vote for the non-recommended candidates which we feel will help bring more diverse views and more member focus to Coast Capital’s Board. For your vote to count, remember that you MUST vote for the exact number of candidates as there are positions to fill: Three! Our first pick is Mark Latham. He is an excellent candidate and has been working with us for years to help restore member control to Coast Capital Savings Credit Union. He is a strong believer in democratic reforms and was instrumental in helping us write up our Special Resolutions last year. But please do not take our word for it, read the election material and make up your own minds. Members are smart. You do not need us to make a recommendation.

Mark Latham has worked with us to help Restore Member Control to Coast Capital. Here he is helping us deliver our Special Resolution Signed Petitions to Coast Capital Headquarters last year.

Mark Latham has worked with us to help Restore Member Control to Coast Capital. Here he is helping us deliver our Special Resolution Signed Petitions to Coast Capital Headquarters last year.

We know Mark Latham very well and he has worked with us for several years in our fight for restoring Member control in BC Credit Unions. He donated his time and money to help restore member control at Coast Capital. You can see Mark in the picture above when he helped us deliver our signed petitions to Coast Capital Head Quarters last year. He’s a nice guy.

If you feel that Coast Capital’s slogan “Have Your Say” should be more than just a slogan, then please Vote for Mark. He has been working to restore democracy in cooperative organizations for over 20 years.

If you have not received your ballot yet, please go pick one up at any branch. Read the material and make up our own minds. It is your Credit Union. Your vote matters!

Coast Capital Board elects a new Chair

The announcement that the Board of Governor’s of Coast Capital Savings has elected a new Chair is good news for the credit union and it’s members. Bill Wellburn’s compensation became the focal point of our campaign to reform Coast Capital. Now that he is no longer in the driver’s seat perhaps we will see some movement towards a more democratic, member oriented credit union.

The recent election was a wakeup call for the Board. An institution can ‘t survive when leadership is able to convince only 50% of voters to support the policies it advocates. The future of Coast Capital was endangered and that is obviously what the Board concluded. By electing a new Chair, it has bought itself some time to convince the dissatisfied membership that there are better days ahead.

For the many members that have told us that they are leaving Coast Capital, we urge patience, let’s give the Board a chance to show the members that they recognize that with policy changes our credit union can be more successful than ever.

How the Board decides to proceed with a process that returns control of Director Remuneration to members will be watched very closely. We want to work with the Board so it is imperative that they recognize that it is unreasonable for the Directors to press for the right to set their own compensation. Paying lip service to a solution and then rigging the outcome (such as a show of hands vote at AGM’s) won’t work.

We have received several suggestions from members on the subject of the Director’s Remuneration that might be worth putting to the new Board. Even if they are not accepted, they demonstrate good faith.

Our campaign was well worth it and may have set the stage for a turn in direction.

We can all hope that will be the result.