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Jun 23: Vancity partners with two organizations to support reconstruction

Vancity partners with two organizations to support long-term reconstruction efforts in tsunami-affect areas of Southeast Asia

Vancouver, June 23, 2005 - Vancity has established long-term partnerships valued at more than $480,000 with the Canadian Cooperative Association (CCA) and MATCH International to help rebuild parts of Southeast Asia devastated by the 2004 tsunami.

In immediate reaction to the tragedy, Vancity staff and members raised and donated $335,501, including a $75,000 corporate donation from the Vancity Group of Companies, to Oxfam.

As the same time donations were being raised in January 2005, internal funds were relocated to support tangible and sustainable redevelopment programs in the tsunami areas.

More than 700 Vancity employees voted via the company’s intranet for one of the two organizations with CCA receiving 48% and MATCH 52%. The participation rate highlighted staff’s passion for supporting reconstruction efforts. With voting almost evenly split, partnerships were established with both organizations.

“Both Vancity and its employees have demonstrated their commitment to make a difference both in the short- and long-terms in Southeast Asia,” says Elain Duvall, Chair of the Vancity Board of Directors. “It’s a remarkable demonstration of generosity and strategic thinking.”

MATCH is a non-profit organization that works in partnership with groups to improve the lives of women, particularly those who are marginalized in Africa, Asia (including Sri Lanka and Indonesia), the Caribbean and South America. MATCH's rebuilding efforts will focus on reconstruction support for women and children, including orphans, who are particularly vulnerable to exploitation in times of international crisis. See

The CCA, working in 27 developing countries, supports the creation of credit unions and cooperatives that give people access to employment and financial services. CCA's rebuilding efforts will focus on their work in Sri Lanka as they partner with SANASA (Federation of Thrift and Credit Cooperative Societies) to get people back to work and revitalize communities hardest hit by the tsunami. See:

Vancity is Canada’s largest credit union, with $10.5 billion in assets, more than 300,000 members, and 42 branches throughout Greater Vancouver, the Fraser Valley and Victoria. Vancity was chosen as the best place to work in Canada for 2005 by Maclean’s Magazine as part of its annual Canada’s Top 100 Employers issue. Vancity owns Citizens Bank of Canada, serving members across the country by telephone, ATM, and the Internet. Both Vancity and Citizens Bank are guided by a commitment to corporate social responsibility, and to helping members and communities thrive and prosper.