March 15, 2010

Dear Members:

RE: Future of the Credit Association of Victoria

During the last few years, the Association has unsuccessfully attempted to revitalize the Association with new board members, new goals and direction, but most importantly a new vision and mandate.

Due to the lack of interest or availability by the membership to participate either at the executive or board level and that we now have insufficient numbers at the executive level to sustain a functioning board it is evident that the Association is no longer viable.

Therefore, after careful consideration the remaining Board members have made the difficult decision to place the Association in a state of inactivity.

Based on the above reasons effective March 15, 2010, the Association will suspend its operations and at such time, the Association will be placed inactive for a period of one year. During this period, the Association will no longer be charging or receiving membership dues, and/or signing new members. The remaining board will continue to meet to discuss the finances of the Association and ensure all liabilities are being addressed.

If by chance a member wishes to reactive the Association, a detail business plan and strategy must be submitted to the current board for consideration before the Association is turned over to a new executive team. This is to ensure that the new executive team has a viable goal, mission and resources to continue with the Association. All submissions can be directed to:

Credit Association of Victoria
#609-105-1497 Admirals Road,
Victoria, B.C. V9A

Once this period has been observed and no member comes forward to reactivate the Association we will look to complete the necessary documentation to close the Association.