Island Savings member: keep credit union local

Proposed merger not good for local interests, reader writes

As a business owner and 15-year member, I urge all Island Savings Credit Union members to carefully consider their proposed merger vote with First West Credit Union.

My main concern is losing local control of our credit union. We will no longer have a main office and decisions will be made at First West’s head office in Langley.

At present we have 100 per cent representation on the board but under the new structure we will have 20 per cent of the seats on the board for the first two years, after which representation will be based on total membership and assets.

As credit union members, we want our deposits available to other members of our community.  Bigger is not always better.

I believe the board of directors has not proven the need for the proposed merger, even to some of its fellow board members, since the vote among board members was not unanimous.

The board has not presented a business case to show how the merger will be beneficial to members.

I will not be voting in favour of this proposal and I ask that all Island Savings members come to the aid of our credit union and vote no.

Don Skerik

Duncan

Just Posted

Victoria-bound plane slides off icy Edmonton runway

Crew, passengers had to disembark via bridge stairs

VIDEO: Hundreds gather in Victoria as part of global Women’s March for equality

‘End Violence Against Women’ march theme for 2019

Esquimalt needs urgent health care facility, mayor says

A severe doctor shortage is leaving Esquimalt residents scrambling for health care

Almost four of 10 Canadians have unlimited internet data at home

Fifty-four per cent say they telecommute at least sometimes

Student Voice: Saanich students launch competitive robotics team

The Reynolds Reybots plan to share their skills with middle schools

WATCH: Medieval fighters train in Colwood

Fighters are gearing up for world championships in medieval combat

Want to avoid the speculation tax on your vacant home? Rent it out, Horgan says

Premier John Horgan and Sheila Malcolmson say speculation and vacancy tax addresses homelessness

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

UPDATE: B.C. woman and boy, 6, found safe, RCMP confirm

Roseanne Supernault says both she and her six-year-old nephew are fine and she has contacted police

PHOTOS: Women’s Marches take to the streets across B.C. and beyond

Women and allies marched worldwide protesting violence against women, calling for equality

Anxiety in Alaska as endless aftershocks rattle residents

Seismologists expect the temblors to continue for months, although the frequency has lessened

Women’s March returns across the U.S. amid shutdown and controversy

The original march in 2017, the day after President Donald Trump’s inauguration, drew hundreds of thousands of people

Federal Liberals announce former B.C. MLA as new candidate in byelection

Richard Lee will face off against federal NDP leader Jagmeet Singh

Most Read