Eligibility PEI Credit Union Act & PCU Bylaws
As per section 29(1) of the Credit Union Act and section 6.03 of the Provincial Credit Union Bylaws, no person is eligible to be a director who:
a. is less than 18 years of age;
b. lacks capacity to make decisions respecting financial matters and has been found to lack capacity by a court of competent jurisdiction;
c. is not an individual;
d. is not a member of the credit union, or has been a member for less than one year prior to director nominations.
e. is a duly appointed representative of a member that is a partnership, association, body corporate or public body;
f. has been convicted within the previous five years of an offence that is of a kind that is related to the qualifications, functions or duties of a corporate director, including an offense involving fraud or an offence against the Credit Union Act, unless a pardon has been granted or a record suspension has been ordered in respect of the offence under the Criminal Records Act (Canada);
g. has the status of a bankrupt;
h. without the written approval of the board, has a loan with the credit union that is more than one (1) month in arrears;
i. has a loan with the credit union that is more than six (6) months in arrears;or
j. is any of the following:
i. a director of another credit union;
ii. a professional advisor to a credit union;
iii. employed in the public service of the Province of Prince Edward Island or by a Provincial Agency or by a corporation, whose substantive duties are directly concerned with the business or affairs of credit unions or of the Corporation;
iv. is an employee of a credit union;
v. is an employee of Atlantic Central; or
vi. is an employee of the Corporation.
k. is a former director of the Credit Union who has not completed at least one year of absence since serving three (3) full terms as per section 6.05 of the bylaws.
l. is a former employee of the Credit Union whose employment ended less than five (5) years prior to director nominations.
m. is an immediate family member, including parent, sibling, child, grandparent, grandchild, and spouse or common-law partner, of a current employee or Director.
n. is an individual or owner of entities providing services to the Credit Union or receiving payments or financial benefits beyond those associated with standard membership activities (such as interest or dividends from member accounts). This includes any direct financial relationship or significant business dealings with the organization that could compromise the Board's impartiality or create a perception of bias.
o. is not ordinarily resident within PEI at the time of director nominations, their election or appointment, and throughout their term.
Provincial Credit Union's governance refers to the system of practices, controls, and procedures employed by the board and management to oversee operations, make decisions, and ensure that we are managed efficiently, legally, and in the best interests of its members. It includes managing risks, setting strategic direction, complying with regulations, and maintaining accountability to members and other stakeholders.
Our Board of Directors guides our strategy and ensures that we serve our members to the best of our ability. Nominations and Elections let members have a say in who sits on the Board of Directors. At our Annual General Meeting, we review the past year's achievements while Corporate Reports share updates on our financials and community impact each year.
Our Board of Directors guides our strategy and ensures that we serve our members to the best of our ability. Nominations and Elections let members have a say in who sits on the Board of Directors. At our Annual General Meeting, we review the past year's achievements while Corporate Reports share updates on our financials and community impact each year.
Board of Directors
Nominations
Elections
Annual General Meeting
Corporate Reports
Meet Your Board of Directors
Our Board of Directors is elected by you, our members. Comprised of 12 volunteer directors from across the Island, the Board ensures that Provincial Credit Union has strong, effective management and delivers lasting value while meeting the needs of members and their communities. This is achieved through a policy governance model and in full compliance with the Credit Union Act and Bylaws.
As member-owned, not-for-profit financial cooperatives, credit unions rely on their boards to ensure they operate in the best interests of both members and their communities.
Who makes a good director?
The Board seeks directors with expertise in one or more of the following areas. While a board member doesn’t need to possess all traits, the Board aims to reflect them collectively:
- Judgment and Decision Making: Ability to make sound, informed decisions.
- Governance and Ethics: Commitment to governance excellence and ethical conduct.
- Knowledge of the Credit Union System and Financial Services: Awareness of the industry landscape and competitive environment.
- Financial Literacy: Proficiency in understanding financial statements and fiscal analysis.
- Policy Development and Regulatory Understanding: Knowledge of creating effective policies and navigating regulatory frameworks.
- Risk Oversight: Skills to evaluate and mitigate strategic, operational, and financial risks.
- Communication and Change Leadership: Ability to communicate effectively and lead through transitions.
- Negotiation Skills: Expertise in resolving conflicts and fostering consensus.
- CEO Performance Management: Experience in executive evaluation and support.
- Strategic Leadership and Direction: Vision for long-term organizational success.
2025│2026 Board Committees
Each board member also serves on one or more committees which focus on specific areas. Committees provide detailed guidance and make recommendations to the full Board, helping ensure decisions are strategic and in the best interest of members and communities.
Executive Committee
Alisha MacKay
Corey Tremere
Jacinta Doiron
Corey Tremere
Jacinta Doiron
Audit & Finance Committee
Alisha MacKay
Joel Brennan
Tracy Wedge
External Member : Hani Mayaleh
Joel Brennan
Tracy Wedge
External Member : Hani Mayaleh
Governance
Holland Cahill
Imelda Arsenault
Jacinta Doiron
Jack Spencer
Nominating
Jacinta Doiron
Jack Spencer
Mona Jeffery
Peter Pidgeon
Jack Spencer
Mona Jeffery
Peter Pidgeon
Risk and Compliance
Alisha MacKay
Corey Tremere
Joel Brennan
Joel Brennan
Tracy Wedge
Board Nominations are now open!
Serving on Provincial Credit Union's Board lets you give back to your community, represent members’ interests, shape the credit union’s future, and develop leadership skills, all while supporting a values driven, member-owned organization.
Message from the Board Chair
Thank you for your interest in serving as a Director of Provincial Credit Union. We value the dedication and commitment of our members and appreciate those who choose to participate in our nomination and election process.
Provincial Credit Union is an independent, local financial institution with assets of approximately $1.7 Billion and about 34,000 members across Prince Edward Island. Individually and collectively, directors must meet the high standard of competence and performance our membership expects. I am proud to say that we are a committed and engaged Board focused on the best interests of Provincial Credit Union and our members.
Below you'll find details to assist you in understanding Provincial Credit Union, the role of the Board, and to support your completion of the nomination process. Our goal is to ensure a fair and transparent process that enables our members to be fully informed when casting their vote for their preferred candidate(s).
I hope you find the information helpful. Should you have any questions about the enclosed information, please contact Marissa Jordan, Manager of Strategic Initiatives and Board Governance at governance@pcu.ca or at 902-854-3904.
Again, thank you for your interest in this important process.
Sincerely,
Corey Tremere
President, Board of Directors
Provincial Credit Union is an independent, local financial institution with assets of approximately $1.7 Billion and about 34,000 members across Prince Edward Island. Individually and collectively, directors must meet the high standard of competence and performance our membership expects. I am proud to say that we are a committed and engaged Board focused on the best interests of Provincial Credit Union and our members.
Below you'll find details to assist you in understanding Provincial Credit Union, the role of the Board, and to support your completion of the nomination process. Our goal is to ensure a fair and transparent process that enables our members to be fully informed when casting their vote for their preferred candidate(s).
I hope you find the information helpful. Should you have any questions about the enclosed information, please contact Marissa Jordan, Manager of Strategic Initiatives and Board Governance at governance@pcu.ca or at 902-854-3904.
Again, thank you for your interest in this important process.
Sincerely,
Corey Tremere
President, Board of Directors
About Provincial Credit Union
Since 2021, Provincial Credit Union has grown to ten branches across the Island, becoming the second largest credit union in Atlantic Canada. We’re proud to be the only physical financial institution in seven Island communities, providing trusted local support where it’s needed most. We're committed to strengthening our services, deepening our connection with communities, creating more opportunities for our employees, and building a foundation for long-term financial sustainability, so we can continue investing in the people and places that make PEI home.
2026 │ Five positions open across the Island
Director terms are staggered, with one of the three positions representing the 4 regions up for election each year. This approach ensures that experienced directors remain to mentor new members and provide continuity in governance. In the event of a vacancy, the Board may appoint a replacement to serve until the next AGM, at which time the position will be filled by election. For the 2026 director election process, members will be electing candidates to fill five (5) positions, one candidate from each of the four regions and one candidate to fill the current vacant position.
| Region | Director Term for Renewal |
| Alberton / Tignish | Tracy Wedge |
| Charlottetown / Montague / Stella Maris / Stratford | Brett Poirier |
| Evangeline / O'Leary / Tyne Valley | Imelda Arsenault + Vacancy |
| Malpeque Bay | Alisha MacKay |
The role of a director on the Provincial Credit Union Board is critical to the organization’s governance, strategic direction, and long-term success. This position requires a commitment to fiduciary duties, ensuring the credit union operates with integrity, safeguards member interests, and remains sustainable in an ever-changing financial services landscape. Directors are instrumental in shaping the organization’s future by offering strategic guidance, overseeing risks, and upholding the highest standards of governance and ethics.
Directors bring diverse skills and perspectives to a collaborative decision making process. By working as a cohesive team, the Board leverages this collective expertise to align the credit union’s strategies with its mission, vision, and the evolving needs of its members and the financial community.
Directors bring diverse skills and perspectives to a collaborative decision making process. By working as a cohesive team, the Board leverages this collective expertise to align the credit union’s strategies with its mission, vision, and the evolving needs of its members and the financial community.
Eligibility and Requirements
Responsibilities
Directors of the Provincial Credit Union Board act as stewards of the organization’s integrity and success, providing leadership and accountability in a complex and dynamic financial services environment. Their responsibilities extend beyond attending meetings, requiring a proactive approach to governance and decision making that supports the credit union’s mission and vision.In addition to fiduciary oversight, directors balance the need for innovation with their duty to uphold ethical standards and promote sustainability. By embracing adaptability and continuous improvement, directors contribute to a resilient organization that meets the challenges of today while preparing for the opportunities of tomorrow.
Directors are expected to:
Directors are expected to:
- Act with Integrity: Maintain honesty, good faith, and loyalty in all decisions and actions.
- Uphold Governance Standards: Operate within the scope of authority, disclose conflicts of interest, and protect member confidentiality.
- Exercise Care and Diligence: Attend meetings, stay informed, and apply sound judgment in decision-making
- Contribute to Strategic Oversight: Guide the organization by approving and monitoring strategic plans, business performance, and risk management practices.
- Monitor CEO Performance: Provide leadership and accountability in evaluating and supporting the CEO’s role.
- Enhance Board Effectiveness: Commit to ongoing development and adherence to a robust policy framework
Director Development and Training
To ensure directors excel in their roles and contribute effectively, the Provincial
Credit Union Board prioritizes comprehensive development and training:
1. Orientation for New Directors:
Alongside an internal orientation, newly appointed directors are enrolled in the Credit Union Director Achievement (CUDA®) Program within their first six months. They are expected to complete all three levels and earn the CUDA Graduate Designation. Supported by Dalhousie University, this program offers leading-edge training in governance and financial stewardship. Completed progressively over a director’s first three-year term, the full program totals about 55 hours, with roughly 6 hours in year one and the remainder in years two and three.
2. Ongoing Professional Development:
Graduated Directors are expected to complete 6 Continuing Education (CE) Credits annually and are encouraged to engage in additional learning opportunities. These credits can be earned through courses and workshops covering a range of topics, such as financial literacy, risk management, governance best practices, and strategic planning.
3. Accreditation Opportunity:
Directors who complete the CUDA program and have served at least two years on the Board may write a qualifying exam to achieve the Accredited Canadian Credit Union Director (ACCUD) designation, further enhancing their expertise. Accredited Directors are expected to complete 12 Continuing Education (CE) Credits annually.
4. Conference Participation:
Directors are supported in attending relevant conferences to network with industry leaders and gain insights into emerging trends affecting the credit union system.
5. Board Effectiveness:
The Board engages in annual evaluations to assess its collective performance and identify areas for improvement, ensuring directors are equipped to meet evolving challenges.
1. Orientation for New Directors:
Alongside an internal orientation, newly appointed directors are enrolled in the Credit Union Director Achievement (CUDA®) Program within their first six months. They are expected to complete all three levels and earn the CUDA Graduate Designation. Supported by Dalhousie University, this program offers leading-edge training in governance and financial stewardship. Completed progressively over a director’s first three-year term, the full program totals about 55 hours, with roughly 6 hours in year one and the remainder in years two and three.
2. Ongoing Professional Development:
Graduated Directors are expected to complete 6 Continuing Education (CE) Credits annually and are encouraged to engage in additional learning opportunities. These credits can be earned through courses and workshops covering a range of topics, such as financial literacy, risk management, governance best practices, and strategic planning.
3. Accreditation Opportunity:
Directors who complete the CUDA program and have served at least two years on the Board may write a qualifying exam to achieve the Accredited Canadian Credit Union Director (ACCUD) designation, further enhancing their expertise. Accredited Directors are expected to complete 12 Continuing Education (CE) Credits annually.
4. Conference Participation:
Directors are supported in attending relevant conferences to network with industry leaders and gain insights into emerging trends affecting the credit union system.
5. Board Effectiveness:
The Board engages in annual evaluations to assess its collective performance and identify areas for improvement, ensuring directors are equipped to meet evolving challenges.
Director Terms of Service
Directors on the Provincial Credit Union Board serve for a term of three years, as outlined in the bylaws. Directors may serve a maximum of three consecutive terms, after which a mandatory break of one year is required before being eligible for re-election. A director may resign at any time by providing written notice to the Board Chair.
Director Commitment
Directors are encouraged to dedicate time to prepare for and attend quarterly board meetings, periodic special board meetings, and committee meetings, as well as actively participate in training opportunities. Board and committee meetings are offered in flexible formats, including in person and virtual, and may be scheduled at various times of day (morning, afternoon, or evening) to support director’s participation.
Board meetings typically last between 3 and 4 hours, with preparation time estimated at 1 to 2 hours per meeting for reviewing agendas, financial reports, and supporting documents. Committee meetings, which generally occur four times per year and last 1 to 1 ½ hours, require approximately 1 hour of preparation per meeting.
Board meetings typically last between 3 and 4 hours, with preparation time estimated at 1 to 2 hours per meeting for reviewing agendas, financial reports, and supporting documents. Committee meetings, which generally occur four times per year and last 1 to 1 ½ hours, require approximately 1 hour of preparation per meeting.
Compensation and Expense Reimbursement
This role offers an honorarium and expense reimbursement, recognizing the significant contributions directors make to the Provincial Credit Union’s success. An annual honorarium is paid bi-weekly, effective as of the annual meeting date and pro-rated monthly for partial terms.
Directors are reimbursed for any direct expenses incurred while conducting Board business, including mileage (payable at normal credit union rates), accommodations, meals, and other pre-approved expenses for out-of-town meetings or events. Expense claims must include appropriate receipts and be submitted within the specified timeline, as outlined in the Board’s reimbursement policy.
The honorarium is considered taxable income, and directors will receive the appropriate documentation (e.g., T4 form) for tax reporting purposes. Additionally, directors will receive access to necessary technology or resources to fulfill their duties effectively.
Directors are reimbursed for any direct expenses incurred while conducting Board business, including mileage (payable at normal credit union rates), accommodations, meals, and other pre-approved expenses for out-of-town meetings or events. Expense claims must include appropriate receipts and be submitted within the specified timeline, as outlined in the Board’s reimbursement policy.
The honorarium is considered taxable income, and directors will receive the appropriate documentation (e.g., T4 form) for tax reporting purposes. Additionally, directors will receive access to necessary technology or resources to fulfill their duties effectively.
The key activities and timing for the process are as follows:
Nomination Period
January 5 - February 3, 2026
Call for nominations posted and open for acceptance for a period of 30 days.
Call for nominations posted and open for acceptance for a period of 30 days.
Application Review Period
February 3 - 17, 2026
Vetting of applications by the Board Nominating Committee with report to Board.
Vetting of applications by the Board Nominating Committee with report to Board.
Voting Period
February 23 - March 13, 2026
Conducted for at least 15 business days. Ballots can be cast at any one of our 10 branches and electronically.
Conducted for at least 15 business days. Ballots can be cast at any one of our 10 branches and electronically.
Notification
March 16 - 20, 2026
Successful nominees are notified and advised of AGM.
Successful nominees are notified and advised of AGM.
Annual General Meeting
April 21, 2026
Successful candidates are sworn in at the meeting.
Successful candidates are sworn in at the meeting.
Overview of Nominating Committee
The Nominating committee is responsible for ensuring a fair and transparent nomination process for the election of directors.
The Nominating Committee’s duties include:
- Issuing the call for nominations.
- Reviewing nominations to ensure candidates meet eligibility requirements and align with Board needs.
- Submitting a detailed report of the nomination process and outcomes to the Board of Directors.
The Committee strives to recruit and encourage nominations from members who bring the skills and experience valued by the Board. Additionally, it seeks to preserve geographic and community representation, where possible, to promote diversity and inclusivity within the Board.
By fulfilling these responsibilities, the Nominating Committee helps ensure the Provincial Credit Union Board is equipped with the expertise and perspectives necessary to effectively guide the organization.
Current Nominating Committee:
| Director Jack Spencer |
|
| Director Peter Pidgeon |
|
| Director Jacinta Doiron |
|
| Director Mona Jeffery |
Ready to apply?
Click on the Apply button below or contact Marissa Jordan at mjordan@pcu.ca for more information.
Please note: You will need to sign up for a Do Some Good account in order to complete the Nomination form.
Application Deadline: 4:00 pm Tuesday, February 3, 2026.
Have Your Say!
2026 Board of Directors Election runs from February 23rd to March 13th, 2026.
Election Process
Provincial Credit Union is committed to a transparent and accessible election process that empowers members to participate in shaping the leadership of the organization. By providing convenient voting options and clear guidelines, we ensure fairness and inclusivity while maintaining the integrity of the process.
Vote at Your Convenience
Cast your vote online via Election Runner or by visiting any one of our 10 branches.
Voter Keys
Members will receive a unique Voter Key and ID via email. Please ensure that your email address on your profile is up to date. If you do not receive your Voter Key and ID, call or visit your nearest branch and one of our staff can provide you with it.
Voting Flexibility
Members may vote for a candidate in each of the four regions but are not required to vote for every seat presented on the ballot. Abstaining from voting will not invalidate the ballot.
Re-Application for Incumbents
Incumbent directors are welcome to re-offer their candidacy; however, they must go through the application process again.
Term and Tenure
Successful candidates will serve a three-year term on the Board, with a maximum of nine consecutive years.
Notification of Results
Successful candidates will be notified in March with the results shared publicly at our Annual General Meeting on April 21, 2026.
This election process reflects our dedication to providing all members with the opportunity to actively participate in the governance of Provincial Credit Union, while fostering a culture of transparency, fairness, and member engagement.
Meet the candidates
This page will be updated once nominations are complete.
There are five Board Director positions open in the upcoming election.
There are five Board Director positions open in the upcoming election.
Four seats are available due to regular term renewals — one in each region.
One additional seat is available in the Évangéline, O'Leary & Tyne Valley Region due to a vacancy.
Open seats by region:
Alberton & Tignish Region – 1 seat
Charlottetown, Montague, Stella Maris & Stratford Region – 1 seat
Évangéline, O'Leary & Tyne Valley Region – 2 seats
Malpeque Bay Region – 1 seat
Candidates
Candidate bios will be listed once nominations are complete.
How do I vote?
You should receive an email from Election Runner, assigning you a Voter ID and Voter Key. You will need these to register your vote. When you get your Election Runner email, log in with your key and vote! That email will have all the instructions you need and detailed information about the candidates.
What if I didn’t receive a Voter ID & Voter Key?
If you didn’t receive an email from Election Runner during the voting period, please contact your branch. If you’re having any difficulties at all, you can also drop in and vote in-branch.
How do I vote as my Business Account?
Business owners are members and may vote as an individual or on behalf of their business. Each person only gets the right to vote once. To vote as a business, you will need to appoint a person as a proxy to vote on behalf of the business. To appoint your delegate or yourself as the voter for the business, please fill in this form. Once submitted and approved, your delegate will receive an email with their Voter ID and Key in order to vote on behalf of the business.
What’s the deadline to vote?
Voting will be open from Monday February 23 to Friday March 13 2026.
You're invited!
Please join us at our Annual General Meeting scheduled for Tuesday April 21, 2026 at the North Rustico Lion's Club.
Lots of cash prizes to be awarded and refreshments will follow the meeting.
Let us know if you can make it. Register today!
Lots of cash prizes to be awarded and refreshments will follow the meeting.
Let us know if you can make it. Register today!
Why attend?
As a member of Provincial Credit Union, this is your opportunity to learn, ask questions, and stay informed about how we are serving you and your community. The AGM provides inside into the organization’s financial performance and its future plans.
Participating in the governance of a credit union is a key component of a strong, thriving system.
2024 Volunteer of the Year
Provincial Credit Union's Volunteer of the Year Award is a prestigious honor given to an individual for exceptional service to their community. This award recognizes volunteers who have demonstrated significant dedication and impact through their time, skills, and passion, embodying the cooperative spirit of the credit union movement.
2024 Recipient │ Kendra O'Brien
2024 Recipient │ Kendra O'Brien
Annual Report
Annually, at the Annual General Meeting, we unveil our Annual Report which captures our financial performances, strategic initiatives and community engagement over the past year.
2024 Annual Report
See what we've been up to over the past year, from figures and financials to the positive impact we've had in our communities with the help of our members.
2024
Annual Report
2024
Financial Report
Credit Card
Qtrade Direct Investing
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