The C1 proposals serve the interests of larger credit unions, in the way risk would be redistributed and the way political power concentrated.
Central1 Power Struggle
Consolidation
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, […]
Small is Beautiful?
The e-Newsletter from the CCUA came out this week with an unusual entry at the top. This was the text: 100 Largest Credit Unions and Caisses PopulairesThe latest listing of the largest 100 Canadian credit unions and caisses populaires is out. Some of the highlights As of Q2 2018, the largest 100 credit unions and […]
Credit Union Burdens and Truths
The Ministry of Finance released it’s set of proposals for ‘revising’ the Financial Institutions Act and the Credit Union Incorporation Act back in March. Credit unions and others were invited to comment. I took part in some of the credit union system discussions and I think the ‘credit unions of BC’ provided a polite and […]
A Digital Co-op Bank?
A month ago Central 1 published a short ‘white paper’ outlining their rationale for a ‘Digital Co-op Bank‘. The publication follows quickly on the Central 1 conference and AGM in May where virtually all the presentations related to a pending digital revolution in the financial services industry. New management at Central 1 is making a […]