Co-operate or Merge – Mountain Style

Today’s announcement from seven credit unions in the BC interior is a shocker and clear evidence that smaller, up country credit unions are in a strategic bind.  The announcement says that formal talks are underway to explore the potential for a merger of the seven credit unions; Columbia Valley, Creston, East Kootenay, Grand Forks, Heritage, Kootenay […]

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Director Training Trap

Central 1 is now canvasing credit unions on what the ‘mandatory’ director training program should look like.  The survey is well thought out and to be welcomed, but the implications and the potential conflicts of interests need to be considered.  The current one year Credit Union Director Achievement (CUDA) program will be expanded into a […]

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Are Real Credit Unions FCU*d?

Real credit unions may have to reconsider their strategic options. History was made with the FICOM approval of the Coast Capital Saving application to be ‘continued’ as a Federal Credit Union (FCU). This action has the potential to totally restructure the BC credit union system.  While the commission did say that would consider the impact […]

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New Government Decisions

As the new Minister of Finance, Carole James, has several issues on her plate.  The two simplest are getting attention, because they are listed in the direction given to her by the new premier.   One is taxation, reversing the scheduled increase that faces large credit unions that no longer qualify as ‘small business’.  And second, […]

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Cashless, the political counter argument

Communications professionals know that you can sell something if you give it a good ‘modern’ or ‘contemporary’ brand identity.  This is the spin we hear all the time regarding a ‘cashless society’.  Apparently convenience means more than anything else.  But there is a darker side to this proposition; the expanded role of large intermediaries (e.g. […]

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Makers and Takers

warning

The last few decades have seen a huge change in the ‘structure’ of our economy.  Rana Foroohar provides an accessible overview of the USA economy in her book Makers and Takers. She notes that over the last thirty years finance, and financial engineering, have come to dominate the world of business and traditional ‘maker’ industries, […]

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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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Regulatory Over-Reach

This week FICOM hosted a conference for BC credit union directors, the sixth such annual event they have mounted.  Presentations from commission staff were augmented by a speaker on ‘Building Effective Boards’, Bev Behan.  The reporting out on FICOM and CUDIC activity was to be commended and some good questions were raised.  And while the […]

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