Rapid consolidation in the BC credit union sector will create a small number of very large credit unions, and new problems.
Credit Unions Consolidate, like lemmings…
Consolidation
Evading Accountability: AGM reporting
Credit union financial reporting standards in BC are too low and out of date. The standard should be higher in light of consolidation and technological change.
Credit Union 2023 ‘Blues’
Central1 Power Struggle
The C1 proposals serve the interests of larger credit unions, in the way risk would be redistributed and the way political power concentrated.
Concentration Risk
BCFSA is not targeting the risks, risks that are highly concentrated in the very large institutions, and community-based credit unions may be the collateral damage.
Classic Credit Unions
Classic or community-based credit unions are under stress. Leadership is needed to take on the challenges.
MEC: The Success Delusion
The failure of MEC is the result of a perverse definition of success, also taken up by credit unions.
Managing Uncertainty
When managing risk & uncertainty, statistical models are no substitute for cautious, reasoned judgement.
Divided Allegiance (CCUA)
The Canadian Credit Union Association (CCUA) is conflicted. It says that it champions the successful future of (a) provincial credit unions and (b) federal credit unions, but it is not that simple. Unfortunately, a federal credit union growth strategy is based upon cannibalising the provincial credit union systems. In this last year the CCUA assumed […]
Ownership Lost
On paper, credit unions are ‘consumer owned’, but the reality is something different. Cooperative ownership is the unique feature of this form of business, each member-owner has one vote in major decisions, but as credit unions grow the ‘owners’ are eased out. Their control over the business is lost. In truth, consolidation means that member-owners, […]