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.

The Coast Capital AGM is tomorrow, and the Board is expected to make a motion to have the Ballots destroyed.

Yesterday, Coast Capital told the candidates their “Election” results. We know of no Candidate that was elected, that was not also recommended by the Board itself. That is not right. And as part of tomorrow’s agenda, the Board will ask members to vote on destroying the ballots before an independent auditor can verify the results.

There will be over 100 Coast Capital Managers and Executives paid to be there at the AGM to ensure that there is quorum and that all Director Motions pass, including the one to destroy the ballots. That’s not right.
Magician Holding a Magic Wand

Is this what you expect from your credit union?

Want to help fix Coast Capital?
We need members like you to attend tomorrow’s AGM so members can have their say. That is a Coast Capital Slogan. Let’s make it more than a slogan! Let’s make it the reality.

But members will only be able to have their say if you and hundreds of members like you attend the AGM tomorrow.

Live on the Island and think it is too far to travel to the AGM?
That is what the Board is Banking on! Member apathy!
Coast Capital used to hold AGMs on the Island. They used to provide transportation for members to the AGM. They used to listen to members and want them there. Now, they hold their AGM’s in Surrey away from those members on the Island who are most concerned about how their Credit Union is being run. The Board relies on Apathy so that the Board can “Have Their Say”, not members. If you are on the Island, you need to come. Talk to other members, organize a bus, car-pool. The Board needs to hear from member from the Island. Members like you!

Do not think that attending the AGM on-line is enough!
Votes at the AGM are done by “Show-of-Hands” and the Board relies on Member apathy to ensure that they win every vote. Members who are on-line will not get a chance to raise their hand. Last year, the Board closed the AGM early while dozens still had more to say. We expect the same this year. That’s not right.
Directors - Be a Buddy, not a Bully

Come to the AGM, meet Phil Embley and have your say.

Bring your Smartphones. Record the action. Last year, the AGM recording posted only contained the Directors and their PowerPoint presentations, but none of the questions from members. We can fix that too if enough members show up.

We do not know the results of the Director Election yet, nor do we know the results of the vote on the Special Resolutions, all will be revealed tomorrow at the AGM. What we do know is that members have told us that they were disappointed with how Coast Capital placed their own bias within the election material. Democracy and Credit Unions only work when members take the time to participate. Be there.
Let's Take Back Our Credit Union

The AGM is tomorrow at 5pm in Surrey at the Sheraton Guildford Hotel. Be there and be heard. Member’s matter.

Click here for more information on the AGM time and location.

Members Outraged by Biased Nature of Coast Capital Voting Booklets!

The Vancouver Sun published an excellent article regarding the issues over Excessive Director Compensation at Coast Capital. Click here to read the story. Coast Capital Branch at 1075 West Georgia in Vancouver
Heard enough? Want our advice on how to Vote? Click here
Want to know why members are so outraged? Keep reading…

What this article did not highlight was the highly anti-democratic nature of the information booklets and voting material.
The voting information provided to members by Coast Capital is heavily biased and has outraged members who believe a credit union should be about members helping members, not about Director’s helping themselves.

One member wrote this to the Editor of the Vancouver Sun:

Letter to the Editor
Re: Member revolt aims to pare back pay for Coast Capital directors, page C7, Vancouver Sun, Mon. Apr. 7, 2014.
The Editor,
While your article about Coast Capital did a good job of explaining the David vs. Goliath battle over compensation rates paid to Board directors, it ignored serious problems with this so-called democratic election that ends on April 8th.

Besides publishing election pamphlets that are so slanted with institutional bias they should be considered blatant propaganda, the Board basically copied members resolutions apparently to confuse the issue, even giving them the same four names.

Even worse, the Board has effectively spoiled the ballot, placing the candidates they recommend first under the bold title, “BEST OVERALL FIT.” For the copy-cat resolutions, they had the audacity to show members to vote for their four choices and against those put forward by members.

As if this isn’t enough of a disgrace to the electoral process, Coast Capital has effectively placed a gag order on candidates mostly banning campaigning. Candidates cannot advertise, create websites, speak to groups, use Facebook or Twitter or even participate in interviews with the media in connection with the election.

Coast Capital Savings members need to take back control of their Credit Union, voting for the members resolutions (5,6,7, 8) and the three candidates committed to clean up this mess; Lisa Barrett, Bruce Batchelor and John Fryer. For more information, visit the coastcapitalcompensationwatch.com website.

Naturally yours,
Don Pitcairn,
2422 – 124 St., Surrey, BC

The Special Resolution Booklet says “Don’t mess with Success”. But whose “Success” is at risk here? Not Coast Capital’s success. We support Coast Capital and respect its roots as a Credit Union. The only “Success” at risk here is the successful way that Directors have managed to fill their wallets with member’s money. That is the kind of success that members have a right to mess with!

Read more letters from members by clicking here.

Want more info on how to Vote? We can help.
Click here for more information about how we voted and why.

Directors - Be a Buddy, not a Bully

Voting continues until April 8th. Vote Smart.

Coast Capital Directors are eager to get the vote out. So are we! Do Directors believe that members will not see past their spin? We believe members are smart and will see through that.

CompensationWatch is a non-profit group of volunteers who want to keep Coast Capital strong by restoring its founding principles as a credit union. Our only pay is the satisfaction of helping our community, members, and employees of Coast Capital. Members helping members. That’s what we do.

“Dont Mess with Success”? The only “Success” at risk here is the Director’s risk of losing their excessive pay and $1000/meeting fees. All we are asking is that Coast Capital directors align with the pay of similar credit unions like VanCity, which is a larger and more profitable credit union.

Coast Capital is a credit union. It is supposed to be better.
With your vote, it can be. Vote smart.

Want more information about these resolutions and the candidates?
Do not take our word for it, check out what VoterMedia.org has to say about it here.

The Coast Capital Vote and Director Elections have begun!

Do not be misled, read the fine print in the Special Resolution booklet. We have.

Ignore the spin. We recommend voting AGAINST the Board’s resolutions numbered 1, 2, 3, 4; and voting FOR member resolutions 5, 6, 7, 8. As for the board, we are voting for Lisa Barrett, Bruce Batchelor and John Fryer.

Want to know why? Read on…

In their Special Resolution Booklet, Coast Capital insults the 79.7% of members who voted to restore member control of Director Pay as a small “Special Interest” group. Really? Who is the real small Special Interest group here? 79.7% of members who want to control director pay, or a small group of 9 Coast Capital Directors who want to set and control their own excessive pay for themselves, despite what members told them last year?

That’s the first sleight of hand trick – misdirect members into thinking these resolutions have no support by members. They do.
Magician Holding a Magic Wand

The Resolutions proposed by Coast Capital sound similar to ours. This is not an accident but it is deceptive. This strategy appears to be designed to split the vote and prevent change to the status quo by making their recommended resolutions sound very much like our resolutions, but theirs are VERY different. Their four resolutions will only help these directors take even more of your money and retain their position even longer, despite what 79.7% members said that they wanted during last year’s vote on excessive director pay.
Happy Magician Pulling a Rabbit out of a Hat

For example, Coast Capital’s Special Resolution #1 SAYS it wants to also impose a 12 year limit on directors. They say that this is a good thing and we agree. However, THEIR resolution starts counting years of service starting THIS year!

That means that Board Chair Bill Wellburn’s previous 22 years of running this board would not count towards his 12 year limit. Their resolution pretends that all directors start off this year with zero years of service regarding this limit. That is no limit at all. It is just a sleight of hand designed to trick and confuse the members.

The board’s resolution #1 does nothing to refresh the board. Mr. Wellburn would be able to continue as director until 2026 after which he would then have 34 years of service. And if he takes a year off, then he can serve another 12 years until 2039 and so on. Is that what members want? We do not think so.

That’s not renewal. It’s sleight of hand. It’s a magic trick. That’s not right.

Our resolution is labeled as #5 in the Coast Capital Special Resolution Booklet. Vote FOR member Special Resolution #5 to insist on real change and board renewal, and vote AGAINST the Board’s special resolution #1 which says it will impose a 12 year limit on directors, but actually imposes no limit at all.

We recommend voting AGAINST the Board’s resolutions numbered 1, 2, 3, 4; and voting FOR member resolutions numbered 5, 6, 7, 8.

To vote:
– go to coastcapitalsavings.com and login
– click on the “Online Voting” tab at lower left
– Vote FOR or AGAINST each resolution
– Vote for exactly THREE Candidate (any less and your vote does not count)
– Click here for a screenshot of how we voted
(alternatively, you can mail in a ballot)

And while you are casting your vote on the resolutions, think hard about who you wanted to represent you on the board. The same set of professional board members and corporate heads who game themselves 500% pay raises and $1000 per meeting fees, or someone new who represents members like you?

There are 12 candidates for 3 board positions. Three are “endorsed” by the board.

How Should You Vote?

You should acquaint yourself with the candidates and the issues. But read beyond the corporate spin. We know it is a big job but we hope you will do it. We will provide more analysis in the days and weeks to come. We hope you will vote for accountability, democracy and new blood on the board. We hope you will vote against those whose only interest is in maintaining their power and their excessively high pay.

While their are many excellent new candidates this year, We recommend voting for Lisa Barrett, Bruce Batchelor and John Fryer. They want real change on the board, and real representation for members and employees and their needs. These candidates want to restore Coast Capital back to its roots as a member-owned credit union where people matter.

Want to read more?

Read what VoterMedia.org has to say about the Special Resolution booklet here.

Confused by the Special Resolution Booklet? We can help.

Have you read the Special Resolution Booklet?
Were you shocked by how misleading and confusing it is?

So were we. It is a new low for Coast Capital. 79.7% of members deserve better than to be called a small special interest group by the Board of Directors. Especially since the people doing the name calling represent the real small special interest group of nine directors who will do anything to retain their power and position. Members deserve better.

The founder of Coast Capital, Uncle Louie, would not be pleased.

Ignore the spin. We recommend voting AGAINST the Board’s resolutions numbered 1, 2, 3, 4; and voting FOR member resolutions 5, 6, 7, 8. As for the board, we are voting for Lisa Barrett, Bruce Batchelor and John Fryer.
Online Voting - Confirmation Screen

The board’s 2012 corporate citizenship report states, “We operate with integrity” and “We take the time to listen to all our stakeholders, especially our customers and employees.” Their actions contradict those words. The board’s tactics are confusing and unethical. Under the heading of “Ethical Business Practices”, Coast Capital also writes that “Nothing gets noses out of joint faster than a company that says it’s ethical and honest, yet does stinky things behind the scenes.” The board should walk its own talk!

Want to read the Special Resolution booklet for yourself?
It is here: Coast Capital Special Resolution Booklet 2014.

Want to know more details before you vote?
We will give you information, not spin.
Click here.

Think Excessive Director Pay was fixed by the Task Force?

Think again. It’s only spin.

At least that is what one smart young under-30 member said about the task force and its lack of representation for members of her generation. Here is her letter.
A letter from a Disappointed Young Member of Coast Capital

[Disclaimer – We at Compensation Watch do not blame the individuals on the Task Force for their outcome which apparently justifies and encourages even higher pay for the Directors by comparing their pay with those of bankers and others. We believe it was the process and the mandate that is responsible for that.]

We are the first generation in Canadian history that is worse off than our parents. It is not that there is not enough to go around. It is that those in power are taking the money from those without power. The Rich and Powerful are stealing from the other 99% so pervasively that people do not even see it any more. My younger generation is lost in consumerism. It is a drug that keeps them complacent and complicit in this hidden shift in wealth.

Having someone who represents me on the Task Force would be a good start. However, given that the Task’s Force mandate does not include the ability to set Director Pay, the cards were already stacked against that committee doing any real good. It is window dressing designed by the Directors to provide positive spin and is designed to make members forget about their excessive pay once again. Having looked at the new rules proposed by the Task Force, it is clear that these new rules will allow the Directors to justify still higher amounts of excessive pay for themselves.

I warn you – this will be an extremely long-ass angry rant, but it’s necessary to highlight how much these people don’t represent my generation in the slightest. I’m not saying these things are the fault of Coast Capital Directors, but I’m trying to demonstrate that people like them have made the rules which are causing problems for people like me and for those in my community. I’m totally sick of baby boomers and older generation making decisions for a future for which they are not going to be a significant part. I apologize in advance if you find this whiny, but my community is one made up of young people. The majority don’t know that they are even in the shit right now, because they’re distracted by consumerism and lack of education. But increasing suicides among young people demonstrate that the lack of purpose to life is driving them over the edge. These people on the Task Force don’t represent anyone who knows the hardships that young people today face. They are unaware of the current reality facing young people – or they just don’t care. Since this is about the future of Coast Capital, I think it would be helpful to look at the lives of the future users of the Credit Union: young people.

Task Force:
• A Retired union rep and grandparent
• A long time member who is a manager and board member of various committees.
• Lives in wealthy West Van, is a CEO, and specializes in corporate strategy.
• Another manager and former Director of a big agribusiness.
• One of the only younger members (father of two young sons) is also a managing accountant.
• A member who lives in wealthy West Point Grey, and another player in the agribusiness industry
• A Regulatory compliance specialist for the financial services industry and can afford to have four children.
[Editor’s Note: Compensation Watch believes that the committee members worked hard, completed their role in good faith and deserve our thanks.]

A bunch of bankers, accountants, agribusiness reps, executives, and residents of West Vancouver and Point Grey who do not represent my generation or my community.

Firstly, most or all of these people are over the age of at least 30, if not higher. They do not represent the future, nor do they represent the interests of younger members who are more likely to be more forward-thinking and whose interests are most important when considering the future sustainability of the credit union. Instead of giving old people what they want right now, why not ask what young people want for their future? Young people are the ones who will be using the credit union services for mortgages and businesses, and they’re the ones who will suffer because of mistakes made today.

Furthermore, age plays a factor because the older you get, the more you accept the status quo. Coast Capital needs a shake-up from someone who hasn’t been brainwashed by media messaging to believe that “top talent requires top pay”. Most young people know this is complete BS. But the older you get, the more you conform and move up in your industry, and the more you start to believe it. I know, because having worked in the corporate environment as an Assistant for the past eight years, I know how much Executives demand in order to have the “inconvenience” of doing work—- oh wait, of having assistants do all their work for them. You become detached from reality. Every once in a while, you’re smacked in the face with something like Facebook – the most profitable social media platform on earth… created by a college kid. But those are swept under the rug as anomalies while CEOs and Directors are congratulated for shifting numbers around to make “profits” (like BC Hydro did) and then paying themselves bonuses for profits that were actually never made.

I am 24, and when I was 16, I moved out. I was a Coast Capital member since that time. I had to argue with the clerk for a good 10 minutes to speak to a manager because they wouldn’t remove the “child limit” from my account. I had rent to pay, textbooks to buy, and tuition to pay for, with regular paycheques being automatically deposited every two weeks. Yet I had to beg for them to let me spend my money. I also had to beg for them to remove the 7-day-hold on my ATM deposits. It was ridiculous and an obvious policy that was made by people who are unaffected by it.

My mom bought her Vic West home in 1987, the year I was born, for $60,000. She sold it in 2001 – just before the housing boom – for $160,000. That house, in 2003, was on the market for $550,000 with no renovations.

But consider this. My mom, the sole income earner as a single parent, worked at Thrifty Foods in shipping/receiving for $5/hour at that time. She bought a $60,000 house with that.

If the Vic West house is now $600,000 (which it is), or ten times as much, then that $5/hour wage should go up by ten times to be equivalent to what my mom was making then. But Thrifty’s aint paying $50/hour to unload boxes of broccoli from trucks.

These people don’t represent my generation. They represent a generation that had more opportunity, and who, frankly, are entitled. The system worked for them. My generation gets blasted on the news for feeling entitled, yet these media outlets are made by a generation who had way more opportunities. It seems like we have more advantages now, but these are distractions. iPhones and iPads – these are made-in-China “things” that don’t increase standard of living but rather distract my generation from the fact they’ll probably never own a piece of land or have a job that pays a pension. Because products are less expensive due to slave labour abroad, it seems like we’re richer because we can afford more things. But my parents generation bought local groceries and local items with their wage – along with their detached house that wasn’t a pre-fab on strata property. It only seems like we get paid enough because everything we buy is unethical and are low-quality pieces of plastic crap.

My friend’s mom went to university for nursing when she was our age, and it was paid for completely. Even her room and board at the university was paid for by the government. She is now retiring with a nice nursing pension from VIHA. Me and my generation? We’ll be lucky if we even have CPP, let alone private pensions from employment. The Employment Standards Act has been hacked by the BC Liberal government, and most of it has been repealed, so my generation doesn’t even have the protection it once had without a union. Unions being something which is largely unfavourable by a public who is pissed off at being paid even less for their own jobs (“If I can’t make a good wage with my job, neither should you,” mentality).

“Hiring from within” is gone. Instead of hiring a supervisor (a trained worker) to become manager, companies hire graduates from business schools to manage instead. Because I reached the peak I can make without an education ($20/hour, the minimum living wage – and the equivalent of $2/hour when my mom bought that house in 1987), there was no where else for me to go without the education I never finished. I decided to return to school for university training. BC/Canada integrated student loans only pay $5,440/semester. Tuition is $3,000 per semester, while rent (on campus) is $2,080 per semester. Textbooks are another $700. This does not include food or any incidentals, like MSP payments (which students still have to pay monthly in full), and all the money we spent on trying to get rid of an ant infestation upon moving in, carpet cleaning, and other battles against the slum lords that are UBC – who are somehow excluded from the Residential Tenancy Act; a decision made, no doubt, by boomers in government.

Does Coast Capital have student lines of credit? No. I had to go to RBC for that. Coast Capital has no services for students at all. Zero. None. Nothing to help young people get a life that is above the minimum living wage. Only restrictions.

I have to go into serious debt because there’s no way someone like me – someone from a single parent family with no hope of advancing past living wage – could afford to go to school. My mom went to University while raising two kids in the 90s with a student loan, although a sufficient one. Could I get a job? Been there, done that (when I first moved out and went to college at 16, for a year). But I wound up in Hospital for malnutrition. In Canada. Seriously. That’s when I quit college the first time and decided to work full time. Kids like me did not get the opportunity to go to college. And in any case, working causes grades to fall; which means, in our competition-based system, that students from rich families who have no need to work automatically do better than poor students who have to spend time sourcing income. Not only that, but foreign students are entitled to win the same scholarships as domestic students at UBC. Even though they’re supposed to be there by paying private fees, wealthy international students are still entitled to the same financial help as domestic students on low-income. And, it’s based on grades. And who gets better grades? The rich.

The people in power – the boomers and above – do nothing to remedy these problems because they have already taken what they wanted from the system that worked for them.

The people on this list are all obviously extremely wealthy, just wealthy, or at a comfortable income level. They have played the system and the system worked for them. People like this think it’s fine to sell homes to rich foreigners even if it keeps house prices inflated and unattainable for locals, and who think increasing foreign students to increase the university’s income is a good idea. They’ve eaten their fill, bought their homes, got their schooling or career advancement, and they don’t care if the next generation gets a piece of that pie or not. Whatever it takes to make even more money for them. It’s pure greed and it’s despicable.

Leadership throughout Canadian agencies, institutions, and organizations are screwing up the opportunities for young people to have a life not previously unattainable (even stone-age people worked less and owned their own homes). I wanted someone on that Task Force who is younger than 30 and who the system isn’t working for. Let’s see what a poor young person who isn’t from a rich family has to say about Director pay at Coast Capital.

Sincerely,
An Under-30 Long-Term Member of Coast Capital

Director Pay Raised by 500% since 2007. Sign our petitions. Let’s fix this!

Coast Capital Directors started setting their own pay in 2007. By 2011, Bill Wellburn’s pay increased from $33000 to $164140. Almost a 500% increase for a part time job! Coast Capital Directors work about 30 hours per month. That’s $164000 for a part time job that you could do on your lunch hour every day.
That’s not right.

We have just one more week to gather 300 signatures on our petition to fix this.
Please sign our four petitions today and we will make it right and return the Credit Union back to Coast Capital Savings. Deadline for signing our petitions has been extended to January 25th 2014.

Not sure if Bill Wellburn and the other Directors should get a pay cut?
Listen to the interview with Coast Capital chair Bill Wellburn on the CBC here then decide for yourself if change is required.

cropped-facebook-cover-photo-round-2a.jpg

Coast Capital Chair Bill Wellburn Explains Why Director Salaries are not too High

As a follow up to Phil’s interview on the CBC, Gregor interviewed Board Chair Bill Wellburn. Good interview by Gregor however Mr. Wellburn seemed evasive.

Listen to the interview with Coast Capital chair Bill Wellburn on the CBC here

When asked about the proposed 50% cut in the Chair’s pay, Mr. Wellburn said the high pay is required to attract top talent. But when asked if he would stay on a Coast Capital if the cut happened, Mr. Wellburn avoids answering. Yet even after this 50% cut, Coast Capital Directors will still paid slightly more than Vancity directors (which is a larger and more profitable credit union than Coast Capital).

We think this proposal is very generous. We surveyed members and this is what they recommended. Why does Mr. Wellburn not also feel that this is generous?

Two interesting points about this:

    1. Since 2007 when Directors were permitted to set their own pay, there has been many Director elections at Coast Capital. However with all that added pay, the Nomination’s committee unable to find enough candidates for an election in those years when Bill Wellburn stood for re-election. In those years and only those years, 2010 and 2013, directors were acclaimed due to lack of other candidates. This contradicts Mr. Wellburn’s point that higher pay is required to attract good directors. Since raising pay by almost 500%, there have been no elections in those years when he ran for re-election. This remuneration philosophy is not working.

Director Acclamation

  1. The proposed $68k pay is more than Vancity board chair gets and is more than double what Mr. Wellburn received as Board Chair before they were allowed to set their own pay in 2007. This seems very generous to us, and is what members told us would be fair.

Listen to the interview with Coast Capital chair Bill Wellburn on the CBC here