Sharlene Lark (Local 5 – Western Producer), Bruce Thompson (Local 15 – Nutrien) and Lynn Shaw (Local 15 – Nutrien) were elected to the board of directors of the GSU Defense Fund by the Sept. 24 meeting of the union’s Joint Executive Council. They join Wilfred Harris (Local 1 – Viterra) and Doug Kampman (Local 8 – Advance).
The GSU Defense Fund is administered by an elected five-person board of directors. The directors are elected by delegates to GSU policy conventions. Between policy conventions, GSU’s Joint Executive Council elects directors to fill vacancies.
The market value of the Fund is currently estimated to be $5.3 million. With the exception of cash on deposit at Affinity Credit Union, all of the Fund’s investments are held with RBC Dominion Securities.
The Fund is invested conservatively with the primary objective being preservation of the principal while earning a positive rate of return.
The primary purpose of the GSU Defense Fund is to provide strike or lockout pay and benefits to GSU members. Subject to approval by the board of directors, financial resources from the Defense Fund can be deployed for purposes such as defending the union, keeping the union operational, or the legal costs of defending members’ collective bargaining and other collective rights.
The Fund’s finances are audited each year along with the independent annual financial audit of GSU.
Learn more about the GSU Defense Fund here.