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The Co-operators and Vancity complete Vancity Insurance Services Ltd. transaction

The Co-operators and Vancity complete Vancity Insurance Services Ltd. transaction

Guelph, ON and Vancouver, BC, September 1, 2009 – The Co-operators and Vancity today completed the sale of Vancity Insurance Services Limited (VISL), which was announced by the two organizations on July 21, 2009. Federated Agencies Limited, a subsidiary of The Co-operators, has purchased VISL, which provides home, auto, travel and business insurance in British Columbia.

The purchase, which includes 17 VISL retail branches in Greater Vancouver and Victoria, significantly expands The Co-operators presence in British Columbia, where it previously had 24 agent offices. All VISL service locations will begin to operate under The Co-operators brand tomorrow, September 2, 2009. Customers can continue to purchase insurance at these locations.

Vancity will continue to offer life, creditor and title insurance as part of its overall financial services offering. Squamish Insurance Services is not part of the purchase agreement and will continue operations as usual.

VISL customers have been notified of the change in ownership, and their insurance coverage remains in effect with no changes to their premiums or coverage for the current term of their policies. At renewal, customers will be offered similar policies by The Co-operators.

About The Co-operators

Based in Guelph, Ontario, The Co-operators is a group of Canadian companies offering home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators Group Limited is a 100 per cent Canadian-owned co-operative with assets of more than $7 billion. It is owned by a group of Canadian co-operatives, credit union centrals and like-minded organizations. The Co-operators is well known for its community involvement, and is listed among the “50 Best Employers in Canada.”

About Vancity (Vancouver City Savings Credit Union)

Vancity is Canada’s largest credit union, with $14.5 billion in assets, more than 400,000 members, and 60 branches throughout Greater Vancouver, the Fraser Valley, Victoria and Squamish. Vancity is guided by a commitment to improving the quality of life in the communities where we live and work.

For further information, please contact:

Leonard Sharman Stephanie Thatcher
The Co-operators Vancity
1-877-795-7272 ext. 2707 778-837-0394