Last week it was revealed some members of the Bow Valley Credit Union (BVCU) have concerns about how the institution’s management has been making an effort to court elements associated with populist movements like the truckers convoy and Take Back Alberta.
The concerns members expressed were not about who banks with them or why, but rather that the institution should so publicly back these sorts of groups by hosting events like Tucker Carlson’s recent visit to Alberta.
There has been some public backlash against BVCU for these efforts, which its CEO Brett Oland trumpeted as part of a marketing campaign to increase membership, but it's hard to argue against success.
According to BVCU’s internal reports, as reported at their recent AGM, since 2022 the institution’s membership, which had been fairly stagnant to that point, has seen a 21 per cent increase in members since it began publicly backing those associated with the truckers’ convoy and other populist movements that were anti-federal government.
While the credit union is avowedly non-partisan according to its president, the organization’s recent public advocacy has certainly used members’ money to “market” itself to those who are decidedly partisan.
If it quacks like a duck, walks like a duck, spends money on the things ducks like, it is without doubt a duck.
By the same token, there is nothing wrong with an institution or a corporation having a slant or a political opinion as long as its shareholders are on board for the ride.
That’s the big question now. If money talks, and enough members disagree, then they will register their dissatisfaction through their money, and take it elsewhere.
So far, there seems to be no mass exodus from BVCU; so presumably most members are on board for a ride on the populist train backed by its CEO going forward.
