SURREY – Coast Capital
Savings has been honoured with the Canadian Co-operative Association
(CCA) Innovations in Co-operative Governance Award.
The acknowledgement recognizes Coast Capital Savings for its strong
governance practices and innovations, providing a model from which
other credit unions and co-operatives may learn.
"The CCA award recognizes our innovation and desire to engage in
best practices, and shares our ideas with other organizations seeking
to build a solid foundation of corporate governance," said Bob Garnett,
Vice Chair of Coast Capital’s Board of Directors. "Coast Capital
Savings’ Board is committed to strengthening its governance through
processes that are purpose-driven, transparent, and align with our
credit union’s democratic values. Our goal is to ensure our Board is
comprised of skilled and effective directors to lead our vision to
become a national financial services provider."
Specifically, the credit union was recognized for the work its
Board Governance and Nominations committees do with respect to
selecting and recruiting potential Directors who possess the right
blend of skills, knowledge, attitude, and commitment. The judges
acknowledged the value of recommending well-qualified individuals for
election to the Board, as well as staff’s role in explaining the
election process to members.
CCA President Dave Sitaram said the Awards allow the co-operative
movement to showcase the best in terms of governance practices.
"Over the years, CCA has built a reputation for providing
content-rich materials relating to corporate and co-operative
governance," Sitaram said. "It has consistently raised the bar in terms
of the system’s understanding and knowledge of the latest thinking and
activities relating to governance and the role of the board and
The CCA represents more than nine million co-operative and credit union members from over 2,000 organizations nationwide.
Coast Capital Savings is Canada’s second largest credit union with
total assets under administration of $11.9 billion, 380,000 members and
51 branches in the Metro Vancouver, Fraser Valley and Vancouver Island
regions of British Columbia.
union is the recipient of the Canadian Co-operative Association
Innovations in Co-operative Governance Award, is one of Canada’s 50
Best Managed Companies and is designated a Caring Company by Imagine