Coast Capital Savings - Controversies

Controversies

In April 2009, Coast Capital Savings agreed to reimburse credit union members who were charged overdraft fees. Coast Capital Savings agreed to the settlement to avoid further legal proceedings, but claim that the "agreement to settle is not an admission of liability or wrongdoing, but rather a way to speedily resolve the issue in everyone’s best interests."

In July 2009, an employee at Coast Capital Savings inadvertently emailed a list of the insurance claims of 464 clients to about 75 Metro Vancouver media outlets. The email attachment included names, postal codes and the amounts of property insurance claims, but no social insurance numbers, addresses or account numbers. The B.C. Office of the Information and Privacy Commissioner said it would look into the breach to see whether it warrants a full investigation. No investigation was necessary, as the Privacy Commissioned deemed that Coast Capital's responsible, immediate and responsive actions to rectify the matter on behalf of its members was well managed and executed.