Duncan - I have been active in the credit union movement for longer than I can remember and for the life of me do not see how Island Savings can be transitioned from a stand-alone operation into the partnership model proposed and at the same time meet the six non-negotiable criteria identified by the directors.
I've read the information package, submitted several questions and attended a member meeting, each of which struck me as more "glam than grit".Nevertheless, I will be voting "yes" because I'm persuaded that our CEO and directors are principled managers.How did I come to this volteface? As the result of an answer given by CEO Rod Dewar at the member meeting on Oct. 16.He was asked why the Duncan branch had made the costly move from a building owned by the credit union to its present location which it rents or leases.He answered the original intention had been to upgrade and renovate the former, but then it was learned it would remain unsafe for employees and members in the event of an earthquake.Being in possession of such information, Mr. Dewar said that he and the board felt they had no option but to move.Again, while I have no great confidence in the partnership proposal, I will support the recommendation of a management which I trust will continue to act in a principled manner.Gregg Shoop Duncan