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Coastal Community Credit Union members very concerned about planned branch closures

Coastal Community Credit Union is planning to close branches in Sointula, Alert Bay and Cortes Island. A group of disgruntled residents from those communities will be at the Credit Union’s AGM on Wednesday in Nanaimo.

Joe Christiano, Chief Community and Marketing Officer for Coastal Community, says it was a tough choice, but the credit union doesn’t think keeping them open is viable.

 

But Bruce Burrows from Sointula says that decision poses a major threat to their community. He’s part of the group leading the charge against the closures. He says without the credit union branch, the closest bank is in Port McNeil, a ferry ride away, and local businesses won’t have access to cash.

Burrows says they haven’t been shown any proof that that’s the case. He says the credit unions are supposed to put people before profits, but this decision goes against that.

He says they’ll notify the board at the AGM that they’re filing a resolution, calling on the credit union to host a special meeting on the branch closures. Burrows says if enough members tell them to keep the branches open, the credit union will have to listen.

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