CUPE Local 825 votes to divest from RBC over temporary foreign workers issue

Last week at its Annual General Meeting, CUPE Local 825 (Port Moody Civic Workers) members voted to move their Local’s accounts and investments from the Royal Bank of Canada (RBC) to Community Savings Credit Union.

The motion was put forward in response to news that RBC is using the Temporary Foreign Worker program rather than hiring local people looking for work.

“Working with and investing in a unionized credit union that supports the community instead of a bank that works with contractors who hire temporary foreign workers to fill Canadian jobs was a smart move,” said Local 825 President Raman Braich. “And the fact that Community Savings has a dedicated Labour Liaison made the decision even easier for our members.”

“I’m really pleased the members of Local 825 have made this decision,” said CUPE BC President Mark Hancock. “We have been working with the BC Federation of Labour to address this issue at the head office level, and the campaign is making real progress. But regardless of how the RBC issue turns out, we’re strong supporters of the credit union movement and its support for local businesses, residents and the local economy.”