GVC members are being asked to vote on the proposed merger between Greater Vancouver Community Credit Union and Cascadia Credit Union.
If BCFSA consents to the proposed merger, GVC members will be asked to vote from Monday, November 16th to Monday, November 23rd.
More information on voting is coming soon!
To learn more, ask questions, and talk with the leaders of GVC and Cascadia, stop into one of the GVC open houses. Click here to find out more.
In accordance with section 16 of the Credit Union Incorporation Act (BC) and the voting processes set out in GVC’s Rules, members of GVC are being asked to vote on a special resolution approving the Asset Transfer Agreement, which outlines the terms and conditions of the proposed merger.
In order for the proposed merger to proceed, the special resolution must pass, meaning that at least two thirds of the votes cast on the special resolution must be in favour of the proposed merger.
Special Resolution
“BE IT RESOLVED, as a special resolution, that the Asset Transfer Agreement between Greater Vancouver Community Credit Union, as the transferring credit union, and Cascadia Credit Union, as the acquiring credit union, under section 16 of the Credit Union Incorporation Act (BC) be and is hereby approved, and accordingly:
(a) Greater Vancouver Community Credit Union is hereby authorized and directed to execute the Asset Transfer Agreement; and
(b) the directors of Greater Vancouver Community Credit Union are hereby authorized and directed to take the steps necessary to complete the transfer of all the rights, property and assets of Greater Vancouver Community Credit Union to Cascadia Credit Union in accordance with the terms and subject to the conditions contained in the Asset Transfer Agreement.”
