2020 was an unprecedented year. It did not go as we were expecting as Covid impacted all of us. We have seen loss of lives and changes in our communities and local businesses. As we are set to enter a new year, let’s pause, reflect and identify what is important to us.
The CCEC Board is inviting members to join us to discuss the future of the credit union and the upcoming Annual General Meeting. We hosted a Virtual Town Hall on December 10th and our second Town Hall is on:
As you know, the credit union sector in British Columbia is facing enormous pressure with ever increasing regulatory requirements, rising costs and low margins resulting from historically low interest rates. While our financial position is strong and we will be reporting healthy earnings in the year ending September 2020, our long term financial planning indicates we will face challenges. Across the province, over 25% of credit unions are currently considering a merger or acquisition.
CCEC’s Board has initiated some informal discussions with other credit union boards about what they are experiencing and what, if any, opportunities there may be to collaborate and/or join forces.
This is also a great opportunity to learn more about CCEC if you are interested in running for the Board at the AGM on February 4, 2021. Nominations are being accepted for 6 positions on the Board and 4 positions on the Credit Committee. Click here for more information and to download the Nominations Form.
We look forward to seeing you at a virtual town hall meeting and the upcoming virtual AGM on Thursday, February 4, 2021.
RSVP Joanne firstname.lastname@example.org to attend the Town Hall and the AGM. A zoom link will be sent closer to the time.
Thank you and be safe and healthy in 2021.