Vancity puts out the Call for Nominations for Board of Directors Election

Vancouver, BC, December 16, 2010: The Vancity Board of Directors is seeking to fill 3, three-year term positions for the 2011 election of directors and has put out the call for nominations.

At the same time the Board of Directors is renewing Vancity’s governance and electoral processes to reflect best practices in governance while maintaining the credit union’s cooperative principles and democratic tradition. Over the past year, the Vancity Board has consulted with many experts and  stakeholders. The outcome can be seen in a number of changes that will begin with Vancity’s  2011 Election.

“Our co-operative principles and democratic tradition aren’t going anywhere—as a matter of fact, they’re more important than ever,”  says Virginia Weiler, Vice-Chair of the Board of Directors and Chair of the Governance and Conduct Review Committee.  “But it’s time to increase our members’ connection to their role as owners of the credit union. 

The changes will ensure Vancity continues to attract the best individual candidates and maintains the optimal mix of people with the necessary skills on the board.

Other changes include:

• The Board of Directors will seek candidates from the Vancity membership who have both the demonstrated values and leadership, and the necessary skills and experience, to best oversee and guide the organization. For 2011 the Board will seek candidates with specific skills in finance and technology renewal.

• Candidates will run as individuals and not in affiliated teams; campaigning will be limited and candidates will run on qualifications rather than on specific issues.

• Members will receive more information on candidates through both traditional and social media to help them make a more informed voting choice.  

• The introduction of online voting in addition to the traditional mail-in ballots and in-branch voting. 

“One of the great things about Vancity is every member is also an owner—our shareholders are also the people we serve every day,” says Ms. Weiler. “As part of a cooperative, members can vote for the people who set the direction for the credit union– the Board of Directors. 

The Call for Nominations will communicated to Vancity members through notices in community newspapers and various Vancity banking channels.  Interested members can go to vancity.com to download a candidate’s package. 

About Vancouver City Savings Credit Union

Vancity is Canada’s largest credit union, with $14.4 billion in assets, more than 414,000 members, and 59 branches throughout Metro Vancouver, the Fraser Valley, Victoria and Squamish. Vancity is guided by a commitment to improving the quality of life in the communities where we live and work.