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    • #7471
      Shelley McDadeShelley McDade
      Participant

      Our Credit Union has a strong history of formal governance driven primarily by qualified members with a passion for the cooperative model. One observation is that governance intention can be shifted or changed by regulatory expectations. As the regulator has significant authority and power – their agenda can become a large part of the governance agenda. Is that good or bad? Well strong oversight is important in a financial institution – so it could be considered good. Does the regulator agenda always have the stakeholder’s and owner’s needs in mind – that depends. The point being – as a very powerful external stakeholder, regulators can play a significant role in governance.

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    • #7483
      Jen BudneyJen Budney
      Participant

      Great point, Shelley, and I can think of other areas where this applies. In Saskatchewan, for example, about 95% of our licensed childcare centres (those not home-based) are co-operatives. Even though they receive only a small portion of their budget from the gov’t, the Ministry of Education, Early Learning Division, sets all the standards for childcare, regulating and evaluating all centres. Their decisions certainly play a huge role in governance. I would say sometimes the regulations force centres to “raise their bars” but at other times the regulations are a minimum standard and centres may lazily choose to to meet, and not exceed, these standards.

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