Polynerd

Occupying the boardroom is literal. I am running to be a director of Servus Credit Union. I want to help govern one of Alberta's greatest unsung resources and the only pan-provincial credit union in Canada.

Servus Credit Union is not some Mickey Mouse™ operation. It has over 390,000 members and more than $11 billion in assets. It's also a well run organization. This year they paid $44.3 million in profits back to its members. The year before that they paid $43 million back to members. The year before that they paid $42.2 million. With more than 100 locations in 62 Alberta communities they have a reach that few credit unions can offer.

They are also one of the better employers out there. They were named as the Best Overall Workplace in 2011 by Alberta Venture magazine (disclosure, I am the web editor at Venture Publishing, the parent company of Alberta Venture magazine). They are also one of Canada's 50 best managed companies.

While any company would envy the accomplishments of Servus what's more amazing is that this was all accomplished as a co-operative, not-for-profit bank. That is what a credit union is. Members are owners and every owner gets one share. With that one share they get to vote for any member of good standing who runs to sit on the board of directors. Try doing that with RBC, TD Canada Trust and the other members of the Big Six.

It was with this knowledge that I decided to put my name forward and run as a director of Servus Credit Union. It makes perfect sense. I'm interested in the business possibilites of co-ops. I believe in banking and investing locally and have written articles and organized events to that effect.

I also believe that credit unions have undersold themselves for far too long. By virtue of their flatter corporate governance model and the fact that they are not public companies they can comport themselves like few other financial instituions. When BMO misses analysts expecations and the stock price takes a dump management sweats it (even if they had a great year). Free from the unreasonable expections of constant year-over-year growth they can still improve your financial well-being while still investing time, money and energy in making the communities where they work a better place.

There was also another example that inspired me to run. It was VanCity Credit Union. This B.C. based credit union has really decided to innovate and stake out a unique and inspiring approach to community investment. Just check out their work in the  affordable housing and social purpose real estate space. Their work with local food operations has been inspiring as has what they've done with social enterprise. Just recently they helped start a clean technology index fund with Corporate Knights which I am really interested in.

It was these examples that showed me what Servus could become.

If you are a member of Servus Credit Union vote for me in the upcoming board elections. If you have any questions ask away, my email is duncankinney at gmail.com and my phone number is 780-405-0684.

I am also organizing a Local Money Summit. If you have a savings account you should probably be there.