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Remaining focused on member and community well-being.

The well-being of our members, employees and communities is at the heart of everything we do at Coast Capital, shaping our strategic vision, decision-making and community investments.

Faced with today’s economic pressures, we understand that many people are searching for solutions that can improve their economic circumstances. As a member-owned financial cooperative, we’re driven to act and show leadership by responding in concrete ways that make a tangible and positive difference. When our members and communities succeed in reaching their goals, we succeed alongside them.

Reflecting on 2024, I’m grateful for how we’ve adapted, innovated and brought our purpose to life in ways that not only strengthen our credit union’s long-term resilience, but also better serve our members and communities. Coast Capital’s Board of Directors has upheld strong governance through an evolving landscape, delivering value for members and overseeing the advancement of the organization’s strategic direction and performance.

Our B Corp™ Certification continues to complement our mandate, holding us accountable to robust governance practices, and requiring us to meet high standards of verified performance to ensure our actions create a positive impact. We continue to uphold our board diversity policy that outlines our approach to diversity for our board and builds on our commitment to building a better, more inclusive future. This goal is further supported by our commitment to Canada’s 50-30 Challenge, an initiative focused on increasing the representation of women and other equity-deserving groups on corporate boards and senior management.

Unlocking financial opportunities to positively impact people and communities

Our resilience and vision through 2024 allowed Coast Capital to achieve some significant milestones in support of our members and the greater community. These include:

  • Helping nearly 30,000 members evaluate their financial well-being through Money Chats, our signature financial discovery tool that provides members with personalized advice and tangible steps to improve their financial health.
  • Launching our inaugural Member Financial Resilience Survey in partnership with the Financial Resilience Institute to gain insight into Canadians’ financial realities and help tailor our advice, education, and solutions to break down barriers and drive positive change.
  • Supporting members, employees, non-profits and equity groups in accessing education, upskilling and reskilling in support of growing incomes through our partnership with Coursera, a global platform for online learning and career development. In 2024, nearly 2,500 courses were completed, more than 23,000 learning hours were logged, and more than 10,600 courses were accessed through the Coursera platform. Access to Coursera is offered through our Elevate Chequing account and is also available free of charge to many community organizations.
  • Reinvesting more than $6.4 million back into our communities in 2024, in addition to the $100 million we’ve reinvested since the year 2000.
  • Volunteering more than 13,000 hours in communities across Canada. For their volunteer efforts, staff received $10 per hour of volunteering to donate back to causes of their choice, up to $1,000 a year. This along, with $35,000 in other related reward programs, amounted to more than $165,000 in donations of support to 530 community organizations.
  • Giving more than $3 million since 2004 in financial awards to more than 1,000 students across the country.
  • Partnering with the Canadian Red Cross’ Disaster Response Alliance (DRA) to provide $250,000 annually in support of their efforts to enhance community resilience in the face of increasing natural disasters.

Strong leadership keeping us on course

As we close 2024, my board colleagues and I remain committed to supporting our members, employees and communities. I want to thank Chris Trumpy and Pharid Jaffer, board directors who completed their terms in 2024 for their contributions to the success of Coast Capital. I also welcome Gigi Chen-Kuo and Andrew Petter to our board of directors. Both Gigi and Andrew are accomplished leaders in our communities and we look forward to working with them in the years ahead.

Finally, the board and I are deeply grateful to our CEO, Calvin MacInnis and our entire leadership team, for their vision and commitment. Their determination to drive our purpose forward is contributing to helping people and businesses across Canada. At the same time, their leadership ensures our credit union grows stronger and more resilient each day.

As I look ahead, I’m excited for 2025 and the continued opportunity to support Coast Capital’s growth and to stand with you, my fellow members, as we help people and businesses in Canada build better futures together.

Bob Armstrong
Chair, Board of Directors