Vote no on credit union merger

My main concern is losing local control of our credit union.

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 the present time we have 100 per cent representation on the Board of Directors 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, Cowichan Valley

Just Posted

Ambitious B.C. Aviation Museum need $10M to get iconic Lancaster back in the air

Volunteers flock to work on bomber, restoration expected to take 10 years

Greater Victoria Harbour Authority to fall fake eagle tree at Ogden Point

Last year a fake tree was installed to try to entice eagles to stay in the area, without much success

Saanich to recognize Coun. Judy Brownoff for a quarter century on council

Award presentation will take place Monday evening

Saanich to potentially host first hydrogen fuel station on Vancouver Island

Station proposed for corner of Quadra Street and McKenzie Avenue

UVic project shows Keating Elementary students a helping hand

Victoria Hand Project offers free 3D printed arms in eight countries

VIDEO: The ‘most cosmopolitan’ of butterflies could migrate to B.C.

The painted lady butterfly will likely arrive this summer from Southern California

Inspirational Vancouver Island youngster dies after battle with brain cancer

Kaiden Finley ‘was seriously the strongest 11-year-old’

Is it a homicide? B.C. woman dies in hospital, seven months after being shot

Stepfather think Chilliwack case should now be a homicide, but IHIT has not confirmed anything

Indecent caller handed 18-month conditional sentence

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Mexican restaurant in B.C. told to take down Mexican flag

General manager of Primo’s Mexican Grill in White Rock: ‘I’ve never heard of anything like this’

B.C. NDP moves to provide tax credits, tax cut for LNG Canada

Provincial sales tax break of $596 million repayable after construction

Most Read