Credit Union Technocracy

Technocracy is replacing democracy in our credit union world. The proud claims to consumer co-operative ownership are hollowing. The roles for member-owners and their representatives (elected directors) have narrowed. These changes have political and other implications. Our recent BC Advocacy Day delegation reflected the changing nature of our BC credit union system. Credit union executives […]

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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, […]

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What is the Difference?

The National Credit Union conference next week has been pitched as exploring the credit union ‘difference’.  It is common to hear the CCUA and some other advocates for credit unions make a general reference to the ‘difference’.  The CCUA home page includes this text: Credit unions are full service financial co-operatives. Like other financial institutions, […]

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Scrutinizing Governance

The leadership at Coast Capital Savings is pursuing the ‘journey’ to become a federal credit union.  A few members of Coast Capital have expressed some alarm at the manner in which the consent of members was pushed through to authorize the project.  I have also written a couple of posts (Bank?, and Sales Culture).   […]

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Director Expectations and Burden

Recently Central 1 has said that changes are planned for credit union director training. The proposed threefold increase in the size of the program invites real scrutiny and critical discussion.  It would be one more big burden on small credit unions! In BC currently, directors are required to complete a program that is determined by […]

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