Had enough with Director Shenanigans at Coast Capital?

Many members tell us that they are leaving Coast Capital following the shameful behaviour of the Board at the AGM and during the election. While we understand that you need to ensure your money is placed in an institution that aligns with your values, we hope that you will remain a member and help us fix this.
Let's Take Back Our Credit Union

While we may have lost this round, there is much positive that comes out of this election.

By having all 8 resolutions fail, the Board’s own resolution to ratify the Remuneration Task Force recommendations has also failed. This means that members have rejected their claim that they should be able to pay themselves by comparing to the big banks. This is good news.

The only Special Resolution that has ever passed is our Special Resolution from 2013 where 79.7% of members who vote said that they wanted MEMBERS to set director pay, not directors themselves. We will hold the Directors to that, but we will need your help too.

Stay tuned for our next steps and recommendations. We are not finished yet. We will continue to work with members and Coast employees to restore Coast Capital to its roots as a Credit Union.

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.

Thank you!

Thank you to all members of Coast Capital who took the time to vote!

Whether you supported the member resolutions that we believed were best for members and Coast Capital, or instead you voted for the Coast Capital shadow resolutions, either way, we thank you. A credit union only works when members take the time to provide oversight and ensure that it is run in the best interests of members, and not just its Directors.

To the employees of Coast Capital, we thank you for all your hard work. You have told us that 59% of employees feel disconnected from management. We hope that through our efforts, management may listen to you a little bit more. We are all on the same team. A credit union is only as good as its employees, and you are the best! Good luck!

Dont Break-the-piggy-bank v2
Credit Unions – It’s about members helping members, not Directors helping themselves to your money.

Results of the vote on the eight Special Resolutions and the Director Elections will be announced at the AGM on April 30th in Surrey.
Wednesday, April 30, 2014
Sheraton Vancouver Guildford Hotel
15269 – 104 Avenue
Registration and light refreshments from 4:30pm to 5pm
Meeting begins at 5pm

Details available on the Coast Capital website here:

If you’re in the Surrey area, you can join us in person and meet the Board of Directors and senior executives. Or, you can attend online from the comfort of your home or office. You’ll find a link to the webcast at the above link on April 30 after 4:30pm.

Note that the Question Period at the end of the meeting is the most exciting part of the evening! For some unknown reason, it is NOT broadcast nor recorded. This is the point in the meeting where members get to ask the Directors tough questions. Please plan to attend if you want to be part of the action and ask the board for real answers – and not just spin.

Thanks again for your support. Together, we can make Coast Capital better!

It’s the last day to have your say!

Have your say and cut director Pay! Voting ends today!

Vote AGAINST the 4 Coast Capital Special Resolutions and FOR the 4 Member Special Resolutions to restore Coast back to the Credit Union that you once loved! Voting ends at close of business today at 5pm.


Voting Matters. Politicians and Directors depend on voter apathy to take our power and money. Pay attention, not service fees! Increased Service fees happen when we don’t vote.

Together, we can make Coast Capital great once again.
Click here if you want to know how we voted and why. Be informed, not bullied.

You are not just a member, you are an owner. Remind Directors of that!
Vote Smart.

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

Director Pay, up by 500% in three years, may get even Higher after Task Force Update to the Pay Philosophy!

You read that right. The Member Task Force on Director Pay which was creating in response to member’s vote last year to reduce Director excessive pay, has published their recommendations. While those on the Task Force thought they were recommending something reasonable, the new philosophy can be used by directors to raise their pay rather than lower it. That is not right!

Want to help fix this? Click here for more info on voting. Voting ends Apr 8th
Want more info on how the Task Force was used to trick members? Read on…

Instead of reducing their pay and allowing members to control what Directors got paid, the directors lawyered up, found a loophole, and kept control of their own pay. In their 2014 Special Resolution Booklet, they called 79.7% of members who voted to control excessive director pay a “small special interest group”. Who is the real small special interest group here? Members who volunteer their time to vote and make Coast Capital better, or the 10 Directors who have received up to 500% pay increases over a three year period?

To make members feel good, they provided more corporate spin by creating a Member Task Force on Director Remuneration. But instead of giving the Task Force a real mandate to set Director pay, the task force was not permitted to set Director pay. The Task Force was only permitted to create a powerless Remuneration Philosophy with no power to set specific and reasonable pay levels.

Directors still retain full control to set their own pay. And by using the recommendations of the Task Force, they can now compare their pay with those of the Banks, and rake in even higher pay! Members felt good that the Task Force was created to fix things, but the Task Force recommendations were used to permit even higher pay. Clever sleight of hand by the Directors, but certainly not in keeping with the values of a credit union!
Happy Magician Pulling a Rabbit out of a Hat

Clare told by Coast That Director Compensation may actually go up due to the Task Force Recommendations

Want to help put an end to 500% pay raises for Coast Capital Directors?

The Special Resolution Booklet says “Don’t mess with Success”. But whose “Success” is at risk here? Not Coast Capital’s success. The only “Success” at risk here is the successful way that the Directors have managed to fill their wallets with member’s money.

Want to help? Vote

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

Credit Unions are about members helping members, not Directors helping themselves! Have your say, and together we can cut Director Pay!

The Special Resolution Booklet is misleading and the Voting Booklet blatantly biased. The Coast Capital Resolutions are designed to confused and split the vote. A split vote means no changes. Read the fine print and you will find that the Coast Capital Resolutions do exactly the opposite of what the Booklet intiailly claims that they do. That’s not right!

Directors, like politicians, depend on apathy to let them get away with excessive pay and perks. They play tricks like creating Tasks Forces to avoid making any real changes to their remumeration.
That’s not right.
Magician Holding a Magic Wand

When members find out that Directors changed Coast Capital’s rules in 2007 to allow themselves to set their own pay, and that within a three year period they had given themselves up to 500% in pay raises, then members demand change. Who do these directors think they are? Senators?!

Want to help? Write a letter to the Editor of your local paper!
And perhaps the Victoria Times-Colonist, as well as the Surrey Now which is where Coast Capital’s headquarters are.

Not sure who to write to?
Here is a list of local papers and email address of the editor.
If your local paper is not in there, please let us know in a comment, along with the contact info if you have it, and we will add it!

Write your local paper today! We need to get the word out this week!

Directors have given themselves up to 500% pay raises over a three year period! – “Have Your Say” about that!

Coast Capital members and employees should not be bullied. 79.7% of members who voted to put a stop to 500% pay raises for directors are NOT a small special interest group. But those directors are, and all they have to lose is their $1000/meeting fees and a monopoly on who sits on the board.

In a recent internal survey, 59% of Coast Capital employees felt disengaged from management. That’s not right.

The board of directors sets the tone for the credit union. When that board forgets their fiduciary duty to listen to members and when the majority of employees feel that they have no say at the workplace, then it is time for a change of direction, and that starts by changing the Board of Directors through your vote. Voting Matters.

Do not be bullied, be informed! Then vote smart, you are a member of a credit union. Your vote matters and that is no April fools joke! Perhaps the special resolution booklet is, but nobody is laughing. Get more information here.
Happy Magician Pulling a Rabbit out of a Hat

Reaching Out to Coast Capital Members in our Communities

Phil Embley, founder of Coast Capital Compensation Watch, and Mark Latham, founder of VoterMedia.org, will be on the radio today, April 1st from 5pm to 6pm on AM1470/FM96.1 to talk about the current Coast Capital director election and Special Resolutions vote. This is Chinese Radio serving Vancouver’s Multicultural communities, but the interview will be in English. You can listen live here.

We have created a Chinese translation (中文) of our voting advice to help spread the word. Voting continues until April 8th.
Coast-Capital-Voting-Advice

We need to reach 67% mark to save Coast Capital from rot-from-the-top! You can help!

Want to help? Write a letter to the Editor of your local paper!
And perhaps the Victoria Times-Colonist, as well as the Surrey Now which is where Coast Capital’s headquarters are.

Public pressure has made the Boards reverse bad decisions in the past. Keep up the pressure by writing to your local papers. Every little bit counts. And be sure to Vote!

Not sure who to write to? Here is a list of local papers and email address of the editor.
If your local paper is not in there, please let us know in a comment, along with the contact info if you have it, and we will add it!

Write your local paper today!
Be a Buddy, not a Bully v2