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Mixed results for Island credit union members looking for changes at 2 institutions

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Members trying to get changes at two Island credit unions have had mixed results.

Some Coastal Community Credit Union members failed in their efforts to get a special meeting on the decision to close branches in Alert Bay, Sointula and on Cortes Island.

Joe Christiano speaks for the Credit Union who says the Board had no choice. It had to turn down the request because it didn’t follow the rules of the Credit Union Act.

Meanwhile the group Coast Capital Compensation Watch says it’s pleased with the results of a vote at their credit union’s AGM.

They brought forward 4 resolutions which, among other things, called for board members to take a pay cut.

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The resolutions didn’t get the 66.7 per cent support needed to pass.  But neither did resolutions from the Board and Compensation Watch’s  Phil Embley says the Board got the message that members aren’t happy.

Embley says they’re hopeful the Coast Capital Board will now take a closer look at giving members more control over how much directors are paid.

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