Episode 28: The Democratic Deficit at Vermont Federal Credit Union

Full Episode:

VFCU Discussion:

“The Vermont FCU Board’s Orwellian Attack on Credit Union History”


A Win for Democracy at Vermont Federal Credit Union!

by Matt Cropp

Note: These are my initial reflections of my experience of tonight’s Annual Meeting since, sadly, my video camera decided this would be a fine evening to crap out. Some things could slightly be out of order and omitted, so I will try to get my hands on the official minutes and link them here as soon as they become available.

I’ve been to the past four or five VFCU meetings, and this years was, by far, the most well attended. It was the 60th Anniversary celebration, so, instead of being at the DoubleTree it was at the Sheraton, and included a dinner for which close to 400 people RSVP’d. The meeting business began uneventfully, and the nominating committee presented the incumbent two candidates, who, as it was a non-competitive contest, were declared by the chair to have been elected by acclamation, to which a few people mentioned that they dissented from that statement.

The meeting then rolled around to new business, for which I raised my hand and made the proposal which our group of Vermont Federal members had developed. After noting that none of the assembled members had had any say in the “election” that’d just taken place, and that the nominating committees at other co-ops of which I am a member (such as City Market and the Intervale Community Farm) go to great lengths to recruit candidates and facilitate competitive elections, I proposed the following resolution:

“We, the assembled members of the Vermont Federal Credit Union, instruct the nominating committee to include on the 2014 Annual Meeting ballot all legally qualified candidates who have expressed an interest in serving on the Board of Directors, so as to ensure that members have a meaningful voice in the composition of the Board that represents them.” Continue reading