In 1984, the Board of Directors of Vancouver City Savings determined to take steps to secure their dominant position in the British Columbia and Canadian credit union movement.
As Chief Executive Officer at the time, I felt it was propitious that Fraser Smith had targeted VanCity to champion his unique financial strategy for mortgage owners in Canada. The Smith Manoeuvre, as it was to become known, was simple and elegant. We attracted many new customers over the years by virtue of our support of the program.
My question back then still stands today - "Why isn't every Canadian making his mortgage tax deductible?" Perhaps the publishing of "The Smith Manoeuvre" will make it happen.