Governance

Ladysmith & District Credit Union and its Board of Directors must act in accordance with the Credit Union's Rules.

Our Rules govern how the Credit Union operates. They are based on strong governance principles and take into account the Acts under which we function: The Financial Institutions Act and the Credit Union Incorporations Act. The Rules are reviewed at least biennially by the Board of Directors and any recommended changes must be approved by the membership by way of a Special Resolution vote at a duly constituted Annual General Meeting. Prior to approval by the membership, any amendments must first be approved by our regulators, The British Columbia Financial Services Authority, (BCFSA). Once approved by the membership, the amended Rules are then submitted to the Registrar of Companies.

Credit Union Rules 2019