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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Fragile FI’s

BC credit unions have declining political leverage. Banks and credit unions are created and nurtured as political accommodations. Banks are rooted in the constituencies they serve and the political clout of those constituencies, for good or bad. This is the core premise of Fragile by Design: The Political Origins of Banking Crises and Scarce Credit, […]

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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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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 […]

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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 […]

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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 […]

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