Friday, April 9, 2010

Loss of Credit Union on Deer Island is more than fraud ... it's a sin of the system!

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Along with many other Deer Islanders, my Dad, Stewart McKay, and I put out a lot of effort to establish a credit union on the Island many years ago. What kind of central management misses something like this for crying out loud ... somebodies auditing is less than adequate! And how come the Provincial Government bails out a Caisse Populaire in northern NB that has an even worse situation.

So much for community governance!!

That's my opinion anyway. Art

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Google News Alert for: bay of fundy
CBC.ca
Fraud shutters only bank on NB island
CBC.ca
The small island in the Bay of Fundy had its own credit union for 28 years, but the institution never recovered from losing $1.7 million to fraud over ...
See all stories on this topic

1 comment:

  1. Sad to see the islands tarnished this way. It seems to the world like we are incapable of dealing with anything as complicated as a bank.

    Joyce

    ReplyDelete