Vancity Credit Union: Is Enbridge Your Idea of “Good Money”?

July 9, 2012 § Leave a comment

I have repeatedly requested from you a complete list of companies that Vancity Credit Union invests in and each time you have ignored me.  Is that because you are ashamed of the fact that you take your members’ money and invest it in evil corporations while hiding behind your “Good Money®” facade?

I am not surprised to discover that Vancity Credit Union is no better than any major bank, since you are so out of step with your members as to bombard them with commercial radio and television advertisements in your branches.  Your idea of “Good Money®” is gentrification and environmental destruction.  In a way you are worse than major banks because they are at least straight up about being evil (just look at the RBC logo).  You lie to people about being a friendly institution but you still engage in fractional reserve lending, which creates debt and inflation, and you still invest in large corporations that have no regard for our environment or our community, and whose mission, in fact, is simply to exploit the earth and its residents for profit.

Do you think most of your members know that their financial institution owns shares in Enbridge?  Maybe you should let them know.  You seem to think that just repeating “Good Money®” over and over will lull people into complacency, but the people of BC are up in arms about Enbridge and through this issue I think they will discover that your “Good Money®” brand is just a facade.

I will be keeping my membership with Vancity Credit Union so I can have my say in changing it, but I will not be keeping my money in an institution that owns shares in Enbridge, and I’ll be encouraging all my friends who are members to take similar action.  Shame on you.

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