Motus Bank and Meridian Credit Union lure president & CEO from Vancity Community Investment Bank | motusbank | Discussion forum

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Motus Bank and Meridian Credit Union lure president & CEO from Vancity Community Investment Bank
July 24, 2022
5:27 pm
Doug
British Columbia, Canada
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This is a bit old, but nonetheless a bit important and worthy of discussion, perhaps. In November 2021, Motus Bank and Meridian Credit Union jointly announced that Jay Ann Gilfoy had accepted the boards' offer of the president and CEO role of both organizations. Gilfoy was most recently the president and CEO of a tiny scheduled I chartered bank, Vancity Community Investment Bank, that is primarily focused on direct commercial lending, fee-based prepaid Visa credit cards, and, until earlier this year, the COpower green bond issuance and investment program that was recently wound down. Vancity Community Investment Bank was previously a much larger business and a somewhat of a pioneer in the direct-to-consumer banking space when it was known as Citizens Bank of Canada (Gilfoy was not with VCIB and likely not with parent Vancity at that time, though). Prior to positions with Vancity, her most recent position was as a temporary executive role leading Coast Capital Savings' business transformation (read: efficiency) initiatives and as Coast's Chief Human Resources Officer.

Cheers,
Doug

July 24, 2022
6:18 pm
AllanB
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Why are you telling us again? Something wrong or a merger? I like that Vancity Gics are unlimited deposit insurance guarantee'd explicitly backed by the province BC. I feel Ontario should lessen its exposure to the industry given the province's financial state. It looks like they will download some taxation to Toronto and Ottawa as part of a restructuring.

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