Local credit unions back BC Liberals with political donations

There has been a lot of talk in the blogosphere in recent months about using our collective consumer power to make an impact on the BIG BAD BANKS by withdrawing funds and investments and moving them to one of the local credit unions. But this  link to Elections BC political contributions over the last several years may make you think twice. According to Elections BC, the following credit unions have donated to the BC Liberals in recent years:

Coast Capital Credit Union, Envision Credit Union, Island Savings Credit union, North Shore Credit Union, Prospera Credit Union( Ocean Pointe branch), Spruce Credit Union, Valley First Credit Union, Vancity Credit Union, and Westminster Savings Credit Union.

In fact, the only credit union that donated to the NDP, was Khalsa Credit Union! 

Considering that  new customers must buy shares when you open an account or investment with a credit union, you are in effect, in a trickle down way, supporting the BC Liberals by doing so. 

Food for thought, and if any of you bank with a credit union on the list, I would be very interested to hear  their response should you ask them their policy on political contributions.

Now scroll down and read about what some are calling a clear conflict of interest in the media,with links from Sean Holman and Harvey Oberfeld.

8 thoughts on “Local credit unions back BC Liberals with political donations

  1. salvatore bennedetto

    I kissed them off the first time they took money from my account without my permission. Said it was needed from everyone to comply with some new regulations. Sorry, you dont take without asking and you sure as hell shoul not be doing political stuff without permission either.

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  2. Laila

    Out of interest, Envision has a political donation policy posted on their site:

    ” As a financial institution, Envision Financial, a division of First West Credit Union, conducts its business in a complex regulatory environment. Well into our sixth decade of service, we are proud of the fact that we have not only safeguarded our member-owners’ assets and provided meaningful solutions to help our member-owners achieve their financial goals, but have also been influential in affecting public policy concerning the regulation of credit unions.

    Our Board of Directors feel it is important that we express our views on financial services issues when it comes to public policy or legislation that might impact the financial needs of our member-owners or the operation of First West credit union. This means that at times, our Board of Directors or Management Team will engage politicians in discussions that affect credit union business. Sometimes, these discussions take place at political events that provide access to politicians but also raise money for their party. To be clear on how we conduct ourselves when it comes to these discussions, Envision’s Board of Directors has enacted the following Board policy relating to political party donations and advocacy:

    Envision is apolitical – we do not favour one political party over another. In situations where a political contribution proves necessary in order to attend an event or function that provides us with an opportunity to engage politicians on issues affecting the credit union, Envision will contribute equally to the governing party and to the party constituting the official opposition. Envision endeavours to engage both parties in discussions on financial services issues that are important to First West Credit Union and its members.

    Should you have questions on Envision’s political donations and advocacy policy, please do not hesitate to contact Envision’s Corporate Secretary at 604-539-7335. ”

    Oddly enough, in these instances they did not equal the amount donated to the Liberals with a donation to any other party.

    Hardly apolitical if you ask me.

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  3. salvatore bennedetto

    Geezzus pauly. Never said banks dont do political stuff. Said I kissed the credit union off. I dont deal with Carols bank either. Do not assume shit where it is not.

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  4. “Envision Financial . . . conducts its business in a complex regulatory environment”

    “discussions take place at political events that provide access to politicians but also raise money for their party.”

    I guess the complex regulatory environment seems less complex after the third glass of wine.

    If the NDP holds a $1,000 a plate dinner with Carol James, Envision will be there for sure.

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