Central 1 Credit Union

Central 1 Credit Union

April 20, 2016 07:00 ET

Central 1 Class A Members Elect Three Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 20, 2016) - Central 1 Credit Union (Central 1) is pleased to announce the election of Kerry Hadad and the re-election of Elmer Epp and Bill Kiss to Central 1's Board of Directors. Each director has been elected for a three year term commencing at the conclusion of Central 1's annual general meeting on April 30, 2016.

The directors serve Central 1 as a whole, but are nominated in, and elected from, either the Ontario or British Columbia (B.C.) regions. This year, the second year of Central 1's governance transition, the size of Central 1's Board decreases from 18 directors to 15, 13 of which are elected or appointed by Class "A" Members and two of which are appointed by the Board. As a result, there were four vacancies to be filled - three in the B.C. Region (one to be appointed by Coast Capital and two to be elected) and one in the Ontario region. A call for nominations was issued on January 18, 2016 and nominations were open until March 16, 2016.

In total, four candidates, including two incumbents, stood for election in the B.C. region, and two candidates stood for election in the Ontario region. Voting took place from April 11 to April 15, 2016.

The Board will hold its reorganization meeting on April 30, 2016 at which time it will elect the Chairperson, Vice Chairperson, and committee members.

"We would like to extend our congratulations to the successful candidates and appreciation is extended not only to the six candidates but also to all those who participated in the election process," said Anita Braha, the Chairperson of Central 1's Nominations and Elections Committee.

About Central 1

With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $14.9 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to more than 300 credit unions and institutional clients from coast to coast.

In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 75 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial system that serves 3.3 million members and holds more than $106.3 billion in assets. For more information, visit www.central1.com.

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