Tribal Council Upset With Credit Union Board

Tribal Council Upset With Credit Union Board

Thursday, January 28, 2010 at 14:53

 

 

The Battlefords Tribal Council is among several businesses who are upset about the departure of three top executives from Innovation Credit Union.

 

Last night, the businesses tried to get a resolution adopted for the organization’s annual meeting in April.

 

The group expressed a lack of confidence in the credit union’s board, but they were unsuccessful.

 

Kevin Poock spoke in favour of the resolution.

 

Poock attended the meeting as a member of the credit union, but he also works for the tribal council.

 

He says he was disappointed with the way the meeting went.

 

“The membership are concerned. I know people would like to have answers. We did not get them tonight,” Poock says.

 

Some people suggested that a vote could be held to dissolve Innovation Credit Union.

 

It was created three years ago when BCU Financial of the Battlefords and Swift Southwest Credit Union of Swift Current merged.

 

But Credit Union Deposit Guarantee Corporation CEO Garth Melle says mergers can’t be dissolved.

 

“That, unfortunately, is not possible. There are no provisions that I’m aware of, and no methodology that I’m aware of, that would equip an organization to sort of ‘undo’ a merger that’s already been done,” Melle says.

 

A similar meeting will be held in Swift Current tonight.