COCHRANE, Alberta–During the credit union’s annual meeting, the CEO of one CU here was faced with members demanding answers over the sponsorship of an event that featured former Fox News commentator Tucker Carlson, saying it was part of a broader effort to expand its membership in socially conservative circles.
The comments were reported by Rocky Mountain Outlook, which said it obtained a recording of Bow Valley Credit Union’s annual general meeting, which was held virtually and closed to non-account holders.
The credit union has also taken something of a non-traditional investment approach it said aligns with the same strategy, and has invested in gold and silver, saying it is seeking to combat inflation without competing on interest rates or physical locations with other financial institutions.
Carlson appeared at an event in Calgary with the credit union as the sponsor.
‘New Key Growth Demographics’
“This was a direct marketing tool that was directed towards Tucker Carlson and it did touch on a number of criteria we’re looking for in our new key growth demographics,” said CEO Brett Oland, who was responding to questions directed toward him and the board via a chatbox, Rocky Mountain Outlook reported.
The credit union is trying to appeal to those who “want more control over their lives” and finances, including people with “different” perspectives and values who have felt excluded by mainstream banks, Oland added.
Members Get ‘Feisty’
“During its AGM, Oland acknowledged the chat was getting ‘feisty’ as many BVCU clients took issue with the company’s strategy to grow membership and questioned its values, refusing to vote on proposed bylaw changes until the CEO and board explained itself for sponsoring an event hosting Carlson, who is often criticized for disseminating harmful rhetoric and misinformation,” Rocky Mountain Outlook reported.
The publication said that during his 20-minute speech in Calgary, Carlson claimed immigration was diluting “the voting power of people who are vested in [Canada], people who were born there, who have lived there long-term.”
“He also chided progressive gender ideologies in the country, called Liberal Prime Minister Justin Trudeau a cross-dresser and took aim at (British Columbia) policy around safe drug supply,” Rocky Mountain Outlook added.
‘Distrust’ of Federal Government
The publication said that in response to a question at the AGM from a BVCU member about the credit union getting involved in politics, Board Chair Kevin Karpovich maintained the credit union is non-partisan, but it hasn’t shied away from rejecting policy it disagrees with.
“BVCU has made its distrust of the federal government known on issues of public health, resonating with Albertans who protested against public health mandates during the COVID-19 pandemic,” Rocky Mountain Outlook stated. “The credit union and its CEO have also been vocal on matters of privacy and freezing accounts during the federal government’s use of the Emergencies Act during freedom convoy protests.”
Rocky Mountain Outlook reported that from 2010-20, BVCU reported a steady drop of around 9,600 members to 7,600, but in 2023 it saw a 17.7% membership growth rate and now has about 10,000 members.
The CU said this year’s AGM was the most-attended in the credit union’s 70-year history, with about 210 attendees, including BVCU staff.
Letters to the Editor Raise Objections
Letters to the editor of the publication have also objected to the sponsorship of the event featuring Carlson.
“The Bow Valley Credit Union website claims values of ‘cooperation … integrity … inclusion … citizenship’ and would have us believe the institution is ‘deeply committed to our communities,’” wrote Canmore resident Jim Pissot in a letter to the editor. “These are noble goals. Unfortunately, they are completely at odds with Oland’s embrace, sponsorship and stage-sharing with a high-profile U.S. conspiracy theorist who mocks Canadian diversity, opposes immigration, and preaches divisiveness, fear and hatred.”
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