Steven Hill
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The newly-named Squamish Savings will be looking for a new general manager in July, as earlier this month Bill Brumpton announced his intention to retire.
Brumpton, who has worked at the branch for 21 years, said he would retire after completing the technical implementation of the partnership merger with Vancity.
"Call it early retirement," he told the Chief. "I was three years off from retirement when we finished the paperwork for the merger and the board wanted more of a commitment than three years, and I wasn't prepared to offer a longer commitment. So basically I will retire in July when the computer change over is complete."
According to a press release from Squamish Savings, Brumpton ends his 31-year financial services career on a high note."Having joined the credit union at a time when it was facing difficulties, he has guided it through 21 years of steady growth," it stated. "During his tenure, Squamish evolved from a credit union with one branch and $14 million in assets, to a $75 million organization with two busy branches and a thriving insurance business. Last year, he led his organization through partnership merger discussions with Vancity, which received overwhelming approval from voting members in November. The merger took legal effect on Dec. 31, 2005."
Brumpton was quick to point out the merger was not connected with his early retirement, although it may have played a small part in some decision making.
"Vancity had nothing to do with the decision," he said. "It is not connected with the merger, although the decision of the board may have been flavoured by the fact they had access to Vancity's resources when replacing me. In fairness to the board, they needed to look ahead further than three years."
Brumpton was praised by board chair Tom Casey.
"Bill has made a tremendous contribution to Squamish's success over the past 21 years," he said. "He leaves this organization well positioned to capitalize on the opportunities presented by our partnership with Vancity."
Brumpton said after retiring, he would help his wife with her soap and bath products business.
