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Mar 18: Vancity announces board election results

Vancity announces board election results

Vancouver, March 18, 2005 — Vancity Credit Union announced the results of its 2005 Board of Directors election today, with one director re-elected and two new directors joining the board.

Twelve candidates ran for three directors’ positions. Results include:

Catherine McCreary 5,931
Ian Gill 5,299
Patrice Pratt 3,857

Catherine McCreary, who has served on the board since 1999, was re-elected. Sandy Watson will end his three-year-term as a board director.

Other results include:

Sandy Watson 3,726
Lisa Barrett 3,447
Alex Binz 2,666
Karie Smith 2,647
Tim Bramwell 2,145
Edward Rogers 1,949
Glenn Preston 1,488
George Du 1,290
Nicholas Pavlich 780

Vancity members also passed two Special Resolutions as part of the election.

The passage of Special Resolution #1 creates a change in Vancity’s rules that will ensure that Vancity will mail ballots to all members who are eligible to vote in the Board of Directors election.

The passage of Special Resolution #2 allows Vancity to pursue mergers according to a unique Partnership Growth Model. Under this model, rather than being “wholly” assimilated into Vancity, a merger partner would operate as a unique business unit within Vancity, retaining its brand name and its own elected member representatives.

These merged partners would preserve - and even enhance - their strong community presence and local decision-making authority, while taking advantage of Vancity’s technological and administrative capacity. This will allow Vancity and the merger partner to benefit from increased scale without taking away from what makes each credit union individually special.

“Member input and participation is our cornerstone. We thank our members for recognizing this by taking the time to vote. They set the direction of the credit union and ensure that we continue to serve the needs of all of our communities in everything we do,” says Cheeying Ho, Chair, Election Committee for the Vancity Board of Directors.

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.