LETTER: Keep Island Savings local

I urge all Island Savings Credit Union members to carefully consider their proposed merger vote

In response to the recent article about the proposed Island Savings merger.

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

Canada Women’s Rugby 7s Team land at home after series triumph

Next stop at Langford offers Olympic qualification

PHOTOS: Green Party Leader Elizabeth May says ‘I do’ on Earth Day

May and John Kidder got married Monday morning in Victoria

Two-sailing waits continue Victoria to Tsawwassen

Backlog continues despite extra sailings over Easter

Saanich soccer player survives bout with flesh eating disease

Harinder Sandhu picked up the disease after soccer game

Second earthquake in less than two hours strikes off Vancouver Island

The first earthquake happened at 1:27 p.m., the second at 2:44 p.m.

Homeless activists outside Notre Dame demand ‘a roof too’

Wealthy people have donated millions to effort to rebuild cathedral after devastating fire

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

United Way opens grants to help charities tackle social issues

Charities north of the Malahat can apply for grants $2,000 to $20,000

POLL: How often does your family use BC Ferries?

Navigating the lineups for BC Ferries is a way of life for… Continue reading

Crime Stoppers most wanted for Greater Victoria for the week of April 16

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Sri Lanka invokes war-time military powers after nearly 300 killed in Easter bombings

Sri Lanka’s minister of tourism says 39 foreign tourists were killed in the Easter Sunday attacks

Man’s body found in popular Cowichan Valley hiking area

Police say death not suspicious after discovery in Stoney Hill area overlooking Saltspring Island

Multiple sailing waits as BC Ferries deals with Easter Monday traffic

89 extra sailings had been added to the long weekend schedule

Most Read