Governance

Stabilization Central’s Board of Directors governs over the credit union’s strategy and operations. This includes oversight of our three business lines: Stabilization Services, Elective Servies and the Master Bond Program, on behalf of our members, BC credit unions.

Solid governance is the foundation of all high functioning Boards and operationally sound organizations. Stabilization Central prides itself on its leading governance practices reflective of its leadership role in the credit union system. In addition to continually evolving our own governance practices, Stabilization Central has created a Governance Toolkit based on our own high standards, to support member credit unions with their own governance journey.

Darlene K. Hyde

Chairperson — Appointed Director

MBA, ICD.D, ACCUD, CAE, CCD, CRAE

Darlene Hyde is chair of Stabilization Central Credit Union. Darlene is a business leader in Western Canada with over 30 years of experience as an executive and board member across Canada. She is the former CEO of the BC Real Estate Association, and former Executive Director of the Metro Vancouver Commercial Real Estate Development Association. She recently served as the Interim CEO of the Alberta Insurance Council.

Darlene has worked in a range of economic sectors, including real estate, energy, insurance and telecommunications. She gained invaluable experience in both public and private sectors, including provincial crown corporations and regulatory agencies, and has served on a number of boards in the financial services, not for profit and regulatory arenas.

Currently she is Chair of the McGill University Women in Leadership and Philanthropy chapter for Metro Vancouver. She also serves on the board of the Canada Mortgage and Housing Corporation.

Darlene has been recognized as a CEO of the Year by Business in Vancouver, and was recognized as a top national employer during her tenure as CEO of BCREA by the Great Place to Work rating agency.

She holds an undergraduate degree in Honours English from McGill University and an MBA from Memorial University and has earned a number of professional and governance designations from Simon Fraser University and the Rotman School of Management, University of Toronto.

Linda Bowyer

Vice Chairperson — CEO, First Credit Union

BBA, MBA

Linda Bowyer has been the President & CEO of First Credit Union since February of 2018. Prior to her role at First, Linda worked in senior executive roles in banking & insurance, with a specific focus on member experience, process improvement and change leadership.

Linda considers herself a lifelong learner. She holds a Masters degree in Business Administration from Simon Fraser University in Vancouver, earned a Black Belt in Lean Six Sigma, and holds the Rotman’s Institute of Corporate Director’s (ICD.D) designation. Linda is also a passionate Credit Union Development Educator and has recently achieved her I-CUDE accreditation.

Over the past five years, Linda has immersed herself in the Credit Union cooperative system. She is currently Vice Chair of the Board of Stabilization Central Credit Union, a Board Director for the Canadian Credit Union Association (CCUA), and is serving a second term as a CCUA appointee on the World Council of Credit Union’s (WOCCU) Board.

Stefan Delloch

President & CEO of Northern Savings Credit Union

Stefan has over 24 years of experience in financial services and is passionate about the role of credit union system in British Columbia. Relevant experience includes Operations, Leadership, Strategy, Governance, and Risk Management.

Formal education includes BA at Simon Fraser University and Sauder Executive Education. Outside of his passion for cooperatives, he is actively engaged in local volunteerism including decades working with the Terry Fox Foundation and also currently serves as the President of the North Coast Health Improvement Society, a registered non-profit that fundraises for rural hospital healthcare equipment upgrades

Anita Braha

Director — Appointed Director

MA, LLB, ICD.D

Ms. Braha currently serves as Board Chair of Vancity Community Investment Bank. She was past Chair of Vancity Savings Credit Union.

At Vancity Credit Union, she served as Vice Chair of the Board, the Chair of Risk Committee, the Chair of the Human Resources Committee and the Governance and Conduct Review Committee.

She sat on the Board of Central 1 Credit Union and served as Vice Chair of that Board.

Anita also served as Chair of the Governing Board Forum, part of the Global Alliance for Banking on Values.

She is a lawyer, and educator who has practiced in the area of human rights for over 25 years. She served on the executive of the British Columbia Industrial Relations Association for 10 years. Anita is a founding member and past President of the Galiano Island Loan Fund Society. She was an appointed member of the Employment Standards Review Commission, the City of Vancouver Women’s Task Force and the Galiano Parks and Recreation Commission.

Anita has taught at Capilano College in the Political Studies, Women’s Studies and Labour Studies departments. She has a BA (Hons) from York University, an MA from the University of Toronto and an LLB from Osgoode Hall Law School. She is called to the Bar in Ontario and British Columbia. She completed the director education program at the Institute of Corporate Directors. She was the consulting editor of the Annotated British Columbia Human Rights Code.

Bill Chan

Director - Director, Vancity Credit Union

CPA CGA, MBA, ICD.D

Bill Chan sits on the Board of Directors of Vancity Credit Union since 2018 and is the Chair of the Audit Committee and member of the Governance and Risk Committees.

Bill also sits on the BC Provincial Health Services Authority that provides specialized health services (i.e., BC Women’s Hospital, BC Children’s Hospital, BC Cancer, BC Transplant, BC Centre for Disease Control). He is the Chair of the Finance and Operations Committee and a member of the Audit Committee.

Bill has over 25 years of executive management experience with Encorp / Return-It depots in BC and was their Senior Vice President and Chief Financial Officer. He directed, managed, and led a dynamic team to deliver a convenient, effective recycling network of Return-It depots. Bill’s career path has focused on building successful programs that brings together financial sustainability while being environmentally and socially responsible.

His formal education includes a Chartered Professional Accountant designation (CPA, CGA), a MBA from Asia Pacific University and the Institute of Corporate Directors designation. (ICD.D).

Elizabeth Hanlon

Director - Chief Risk Officer Sunshine Coast Credit Union

Elizabeth is currently the Chief Risk Officer of Sunshine Coast Credit Union.

Elizabeth is a CFA Charterholder and has extensive experience in the financial industry including risk management, bank regulation, and capital markets.

Previous employers include the Canada Deposit Insurance Corporation and CIBC Capital Markets.

She is passionate about volunteering in the community as well as providing mentorship to people at all stages of their career. In her spare time, she enjoys spending time with her family and going for walks with their dog.

Kelly Marshall

Director — Chief Executive Officer Summerland and District Credit Union

ACUIC, ACCUD, CCE, CCD, ICD.D, CCUA

Kelly is President & CEO of Summerland & District Credit Union and has been for the past 18 years.

He has been in the Western Canadian Credit Union System for 34 years and prior to coming to Summerland was CEO of an Alberta Credit Union and held various capacities at a multi-branch Saskatchewan Credit Union, including Marketing Manager and Manager of Retail Operations.

Kelly is an Associate of the Credit Union Institute of Canada and Dalhousie University, with honours and a specialty in Lending Studies. Kelly holds an ICD.D designation from the Institute of Corporate Directors, a Director designation from the Canadian Credit Union Association (CCUA) as well as a Certified Chief Executive designation.

Jody Burk

Director — CEO, StellerVista Credit Union

ACUIC, FCUIC, CUDA

Jody is currently the CEO of East Kootenay Community Credit Union and volunteers in his community as a member of the Rotary Club of Cranbrook.

Jody Burk has over 30 years of forward-looking experience in the credit union system, with understanding in every facet of the business. Jody strives for growth using collaborative and cooperative strategies while maintaining compliance.

With his passion for collaboration, he holds the position of CEO for East Kootenay Insurance Services Ltd., a property and casualty insurance company and East Kootenay Financial Services Ltd., a wealth management service company. He also holds the position of director on CUSO Wealth Ltd., Kootenay Insurance Services Ltd., MoneyWorks and previously, the BC Solutions Centre and CUPP Services Ltd.

As an advocate for continual learning, Jody holds his Certificate of Advanced Strategy from the UBC Sauder School of Business, his Certificate of Leadership Excellence from the Banff Centre for Arts and Creativity and is an Associate of the Credit Union Institute of Canada (ACUIC) and a Fellow of the Credit Union Institute of Canada (FCUIC).

Board Structure

The Board of Stabilization Central is comprised of six democratically elected representatives from each region which include credit unions grouped by asset size and provincial region and up to three independent, appointed directors. Directors are elected for three-year terms and may be re-elected, with no limit on the number of terms a director may serve. Each year, the directors elect a chair and vice-chair.

Committees

To assist the Board in its work, seven standing committees have been established:

Audit & Risk Committee
The Audit & Risk Committee’s responsibilities include overseeing the activities of the external auditor, assessing accounting policies, and confirming the adequacy of internal controls. It also oversees Enterprise Risk Management, which includes ensuring the organization has effective risk management processes in place.
Investment & Loan Committee
The Investment & Loan Committee is responsible for ensuring there is an appropriate and prudent policy to govern the employment of the funds entrusted to the organization.
Governance & Conduct Review Committee
The Governance & Conduct Review Committee assists the Board in fulfilling its corporate governance responsibilities and is responsible for establishing policies and procedures to address conflicts of interest, uphold standards of conduct, and maintain the confidentiality of sensitive information.
Human Resources Committee
The Human Resources Committee oversees the HR policies and practices of Stabilization Central, including the CEO’s terms of employment. It also oversees the culture of the organization, ensuring employee wellness and a positive work environment are prioritized.
Stabilization Advisory Committee
The Stabilization Advisory Committee oversees the organization’s credit union Stabilization Services and the Elective Services business lines.
Master Bond Program Committee
The Master Bond Program Committee is responsible for ensuring effective and consistent oversight of the Master Bond Program.
Nominations & Elections Committee
The Nominations & Elections Committee oversees the director election and appointment processes, including ensuring that qualified candidates are nominated for director positions

Governance

Darlene K. Hyde

Linda Bowyer

Stefan Delloch

Anita Braha

Bill Chan

Elizabeth Hanlon

Kelly Marshall

Jody Burk

Board Structure

Committees

Annual Reports

2024 Annual Report

2023 Annual Report

2022 Annual Report

2021 Annual Report

2020 Annual Report

2019 Annual Report

2018 Annual Report

2017 Annual Report

AGM Package Materials

2024 AGM Package Communication

2024 Proposed Rule Changes

Virtual 2023 AGM Package Communication

Market Code of Conduct

Member Complaint Procedures

Market Code of Conduct