Charles Milne to Retire as Central 1's Chief Investment Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2014) - Central 1 Credit Union (Central 1) today announced that Charles Milne, its Chief Investment Officer (CIO), will be retiring from Central 1 by the end of this year.

Charles is responsible for the organization's investment portfolios and liquidity functions provincially and nationally. He and his team are also responsible for Central 1's treasury and funding services, commercial lending and system securitization.

"I have decidedly mixed feelings in making this announcement," said Don Wright, Central 1's President & CEO. "While Charles has decided that this is the right time to turn the page to a new chapter in his life, we will miss the very significant contribution he makes to the organization. Over the 16 years he has been here he has brought remarkable value to our members through Central 1's investment performance and he was instrumental in leading Central 1 and the credit union system successfully through the financial crisis of 2008."

Charles Milne joined Central 1 in 1998 and since then has held a variety of positions including Vice President, Treasury and Funding Services. He was appointed as an executive officer of Central 1 in 2009 and became Chief Investment Officer in 2011.

Central 1 will shortly begin the process to identify a new Chief Investment Officer. Charles will remain at Central 1 through the transition to a new CIO.

About Central 1

Central 1 is the central financial facility and trade association for the B.C. and Ontario credit union systems and is owned by its member credit unions, 44 in B.C. and 96 in Ontario. Central 1 represents a consumer-oriented, full-service retail financial system that collectively serves 3.2 million members and holds $92 billion in assets.

With offices in Vancouver, Mississauga and Toronto, Central 1 provides liquidity management, direct banking and payment service solutions as well as a wide range of trade services. For more information, visit www.central1.com.