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  1. CompensationWatch@gmail.com

    Thank you for your work on this issue. Just to let you know we will be supporting your resolution. I don’t know if you can generate enough interest to get the 2/3 vote required (is this 2/3 of all members or only of those that vote?) but we hope so. Also do you have a way to track the votes….are you confident the process is reliable?

    It seems we live in a time of greed where there is a significant division between those that donate their time to help make our communities a better place to live and a minority who require huge amounts of compensation to make it worth their while to participate.

    By way of background we started as members of the credit union when it was a small public service members credit union in the 1970’s before a series of amalgamations to become a large organization. An unfortunate sign of the times when the dominante view continues to be that bigger is better.

    Like many, I suppose we haven’t paid much attention to governance issues and transparency so it is an eye opener to be informed of the issues you raise. Thanks for taking this on.

    We have long since retired to Ladysmith and do much of our banking at our small local credit union but for simplicity kept our pension deposit , RRSP etc. at Coast Capital. We have already moved our RRSP (which they fought by the way) but if your resolution does not pass we will move all our banking to our local credit union where the money does a lot of support work in our local community.

    I am thinking that even if it does not pass, the board should do the right thing and pass a resolution on their own that returns the responsibility of compenstation to members and rolls back their compensation. I will copy this note to Bill Wellburn through their web site if that is possible so he is aware of our sentiments. (I have since looked at the web site and was unable to find a way to contact any of the board!)

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