Friday, May 2, 2014

@Coast_Capital vote results: Board oligarchy maintains its power

At the Coast Capital Savings Credit Union Annual General Meeting on Wednesday April 30, results were announced for the member votes in the director election and on the 8 special resolutions. Unfortunately, none of the democratic reform candidates were elected, and the 4 member resolutions did not get the 2/3 vote required. The Board used its control of information sent to members, to maintain its grip on power for a while longer. On the plus side, the Board's 4 undemocratic resolutions also failed to get 2/3 voting approval. Details are in these links:
- Director election results

- Resolution vote results

- Compensation Watch post: A sad day for democracy

- Times-Colonist article: Credit union votes fail to resolve board pay dispute

- Coast Capital news release

- My previous summary post: Vote for Member #Democracy @Coast_Capital Credit Union
Coast Capital members will continue to work for democratic reform. I will still be involved, but perhaps not as vocal on this blog and twitter; so to hear what's going on, I recommend the Compensation Watch blog. You can "Follow" them to get an email when they post something.

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