“I would also like to recognize Frances Fiorillo and Frank Leonard who have concluded their tenure on the board. Frances is finishing her three-year term after being elected to the board in 2019 and Frank is concluding his second three-year term after first being elected to the board in 2016. We are truly grateful to Frances and Frank for their leadership and commitment during their time on the board.”

In addition to the election of Coast Capital’s directors, the credit union put forward a number of resolutions and members voted in favour of each. These resolutions included the appointment of the auditor, amendments to Coast Capital’s Rules, an increase in director remuneration and the replacement of the board remuneration philosophy with guiding principles.

“I want to thank our members for taking the time to vote on these important issues and for having your say in how your credit union is governed,” says board of directors chair, Bob Armstrong.

“And to my fellow elected directors, Calvin, Charlotte, Firdos and Jerome, I am thrilled to have you on the board. I look forward to working with each of you, guided by Coast Capital’s purpose to build better futures together.”

About Coast Capital   

At Coast Capital, we’re not dreaming about a better future, we’re building one. We’re a member-owned financial cooperative with an 80-year legacy of unlocking financial opportunities that positively impact people and communities. We believe that every Canadian deserves a financial partner who actually cares how things turn out. 

Driven by our social purpose, we look at everything we do through the lens of how we can help our 600,000 members, our employees, and our communities. A proud Certified B Corporation®, we’re part of a global movement building a more inclusive, equitable, and regenerative economic system. We’re deeply committed to making our financial cooperative a great place to work, as demonstrated by some of our accolades, and have significantly invested in our communities over the past two decades.  

Coast Capital is a platinum member of Canada’s Best Managed Companies, one of Canada’s Most Admired Corporate Cultures, and a BC Top Employer. To learn more, visit us online at coastcapitalsavings.com.  

Coast Capital Media Line:
Phone number: 778.391.6225
Email address: media@coastcapitalsavings.com

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BACKGROUNDER

Coast Capital Board of Directors Bios

Coast Capital members have elected Bob Armstrong, Calvin MacInnis, Charlotte Burke, Firdos Somji and Jerome Dwight to the credit union’s board of directors for three-year terms. This year, Coast Capital was looking for directors with skills and experience in four main areas: human resources, credit risk, small business and technology.  The following provides background on each of the candidates and their experience in these areas.

Bob Armstrong

Over the past six years on Coast Capital’s board, Bob Armstrong has been a member of the team that has overseen the growth and development of the credit union. He is a seasoned executive and corporate director, who contributes his understanding of member-focused technology, financial expertise, and oversight experience to his role as Chair of Coast Capital’s board. Prior to focusing on board and advisory work, Mr. Armstrong spent 18 years with Ritchie Bros. Auctioneers where he held several executive positions including Chief Financial Officer, Chief Operating Officer and Chief Strategic Development Officer. He is a Chartered Professional Accountant and received his ICD.D designation from the Institute of Corporate Directors.

Calvin MacInnis

Calvin MacInnis, Coast Capital’s President and CEO, is an outstanding national leader in the financial services sector with a proven record of accomplishment in strategic planning, customer experience, capital raising, new market development, regulatory issues, and technology trends. This experience has positioned him well as Coast Capital’s President and CEO, and board member.  As a federal credit union, the Bank Act requires the Board appoint a President and CEO from their number. This is a legal requirement, which is why Mr. MacInnis was one of the candidates in this year’s board election.

Charlotte Burke

Charlotte Burke, is an experienced senior executive with national organizations operating in highly regulated businesses. Ms. Burke has served on the Coast Capital Board of Directors for the past three years, currently serving as Chair of the Human Resources Committee. Ms. Burke brings a focus on member-centricity, youth and the diverse needs of the community to Coast Capital’s board. Ms. Burke has held numerous senior executive roles including Microsoft and Bell Canada, and led Bell Canada through three major technology transformations.  She has a Master of Business Administration from Harvard University and Bachelor of Business Administration in accounting from Acadia University, and holds a Corporate Directors designation from the Institute of Corporate Directors.

Firdos Somji

Firdos Somji is an accomplished, results driven, global financial services executive and change champion who is passionate about achieving excellence in the boardroom. With extensive board and committee chair experience, Mr. Somji has the necessary business skills, intellectual insight and executive leadership experience to bring culturally unique perspectives, strong corporate governance and effectiveness to Coast Capital’s board. During his successful 40+ year career at Scotiabank, he held a variety of senior leadership roles in Canada and internationally by leading shared services, compliance, network optimization, technology and digital banking, and client facing roles in retail, commercial and small business banking.

Jerome Dwight

Jerome Dwight brings a record of launching and accelerating companies across various sectors including e-commerce, financial services and fintech. Mr. Dwight is a trusted advisor to boards and investor groups on complex transactions and turnarounds. He has led the launch of market leading companies including Nextgear Capital, Canada’s largest non-bank automotive finance company. In 2021, Mr. Dwight served as President of Brane Inc. leading it from a startup, becoming one of Canada’s best known digital asset custody platforms. He holds designations as CPA, CA, CFA and an MBA from York University. A recipient of Canada’s Top 40 Under 40, Mr. Dwight has also been recognized by The Canadian Lenders Association as one of the Top 25 Lending Executives in Canada.