Credit Union changes rules

The rules by which Island Savings Credit Union is governed may soon change.

The rules by which Island Savings Credit Union is governed may soon change. Members are encouraged by directors to study the old rules along with the new rules. Unfortunately this involves reading through 60 pages of legalese and so most members will rely on the summary sent out with monthly statements.

One of the many changes is one which will allow the board of directors to set their own remuneration, rather than allowing the membership to vote on this at an annual general meeting. These changes mean that the membership will lose more and more control over what was once a community endeavour.

If the membership feels that it is a good idea to let directors decide what they should pay themselves out of our money, then the special resolution will certainly pass.

The vote takes place at any ISCU branch between March 18 and 22. I shall vote “no”!

David Ridley

Lake Cowichan


Just Posted

Cowichan Valley Regional District’s affordable-housing strategy moves forward

Board signs three-year financial agreement for initiatives

‘Nick’s Stop’ in Shawnigan Lake is an official bus stop once more

After “much back and forth between us and the Ministry of Transport”… Continue reading

MP MacGregor helps to prioritize whale captivity ban

Request delays zero waste packaging private members bill

VIDEO: Trans Mountain expansion project gets green light, again

Prime Minister Justin Trudeau announced the decision in Ottawa on Tuesday afternoon

Coming up in Cowichan: Spend Father’s Day fishing, or head to the BC Forest Discovery Centre

Deadline coming to register for class reunion The Cowichan Secondary Class of… Continue reading

Grieving B.C. mom hopes Facebook message leads to new investigation into son’s Surrey homicide

Criminal Justice Branch didn’t lay charges, concluding no substantial likelihood of murder or manslaughter conviction

Ginger Goodwin’s Cumberland cemetery grave desecrated

Just days before the Miners Memorial weekend, Ginger Goodwin’s grave has been… Continue reading

B.C.’s measles vaccination program gains traction in May

More than 15,000 doses of the MMR vaccine has been administered across the province

B.C. farmers concerned Agricultural Land Reserve changes choking their livelihood

Dozens voice concerns at special meeting hosted on Vancouver Island

UPDATE: Two-year-old involved in Chilliwack pool drowning has died

Toddler was reported to not be breathing as air ambulance called out Thursday afternoon

Police make arrest after report of a man brandishing a gun at Campbell River-area lake

43-year-old man from the Comox area has since been charged with multiple offences

B.C. high school withdraws notices for temporary dress code

Parents previously told the Interior News they felt there was inadequate consultation over the rules

Most Read