SOURCE: Coast Capital Savings Credit Union

Coast Capital Savings Credit Union

May 06, 2016 07:00 ET

Coast Capital Savings Welcomes Two Returning and Two New Directors in 2016 Directors Election $35,500 to Be Donated to Youth Futures Fund to Acknowledge Record Voter Participation

SURREY, BC--(Marketwired - May 06, 2016) - Following its annual directors' election, which saw a record number of ballots cast, Coast Capital Savings members re-elected incumbents Bill Cooke and Glenn Wong, and selected Bob Armstrong and Frank Leonard to join the credit union's 10-member board of directors.

This year, a total of 35,409 ballots were cast, with 34,138 ballots declared valid -- the highest number of votes for a directors' election in the history of Coast Capital. For the past six years, Coast Capital has committed to donating $1 to a local charity for every ballot cast. This year, Coast Capital will donate $35,500 to the Youth Futures Education Fund to mark this milestone in member engagement.

The Youth Futures Education Fund was selected as this year's charity because of its alignment with Coast Capital's commitment to helping youth succeed during their school years, a key objective of the credit union's Youth Get It investment program. The fund helps youth formerly living in government care in B.C. achieve economic independence, and reach their potential by helping with the expenses of a post-secondary education.

The four candidates chosen for the Board were elected for three-year terms and each received more than 25,000 votes.

 "This is a clear statement from our members that they are confident these four individuals have the expertise needed to ensure Coast Capital remains strong and relevant," said Nominations Committee Chair Mary Jordan. "We welcome back Bill Cook and Glenn Wong for another term and look forward to the contributions of Bob Armstrong and Frank Leonard, both of whom bring deep financial expertise and governance experience."

Cooke brings eight years of credit union board experience through his service on both the Coast Capital and Central 1 Credit Union boards. He is an accredited corporate director, with experience in board leadership for publicly traded companies. Wong is an experienced CEO of large and complex organizations, including former tenures at Rogers Cable and Electronic Arts. He is likewise an accredited corporate director with 20 years' service on corporate and philanthropic boards.

Armstrong is a seasoned executive with proven success in adopting new technologies to transform customer experience. During his tenure as Chief Strategic Development Officer with Ritchie Bros. Auctioneers Incorporated, he led a $65-million acquisition and the launch of the EquipmentOne online marketplace. Leonard is an accredited corporate director with deep experience in stakeholder engagement and community building, gained through his 18-year tenure as Mayor of the District of Saanich. He was also the Chair of the Municipal Finance Authority for 15 years.

This year's election saw a 6.3 per cent increase in valid ballots over 2015, another record-setting year of engagement. There was a clear shift away from paper ballots to online voting with 20,795 members voting online versus just 15,694 the previous year.

"It's gratifying to see member engagement in the annual directors' election grow year after year," said Jordan. "It's an indication that more and more members get it and understand that there is value in being a member at Coast Capital that goes beyond their daily banking needs."

The board of directors also thanked Doug Brownbridge and Bill Wellburn for their many years of service.

Brownbridge served on the board for six years. He held the position of Nominations Chair Committee in 2014 and the chaired the HR committee in 2015. With his senior executive experience in technology and consumer organisations, he offered valuable guidance on how to deliver ongoing value to members.

Wellburn retired from the board after a remarkable 30 years with Coast Capital, 14 of which he served as Board Chair. He started his journey with Coast Capital on the board of one of Coast Capital's legacy credit unions, Westcoast Savings, which later became Pacific Coast Savings. He brought Coast Capital's legacy credit unions together to establish the standards of excellence that form Coast Capital today.

In addition to serving on the board, Wellburn has made outstanding contributions to his profession as a chartered accountant and to community leadership. In 1999, he was recognized by the Institute of Chartered Accountants of British Columbia (ICABC) for his philanthropic commitment with a Community Service Award for the Victoria area in 1999. In 2003, he received the Credit Union Foundation of BC's Distinguished Service Award.

"His leadership, guidance, and passion have been an inspiration to everyone at Coast Capital," said Jordan.

Coast Capital Savings is Canada's largest credit union by membership. A recipient of the 2015 "Outstanding Corporation" Giving Hearts Award, the credit union invested $5 million­­­­­­­­ into local communities in 2015, focusing on empowering and engaging youth. Coast Capital is one of Canada's 10 Most Admired Corporate Cultures™, a member of Canada's Best Managed Companies Platinum Club, and an Imagine Canada Caring Company. It has 50 branches serving its 532,000 members in the Metro Vancouver, Fraser Valley, Vancouver Island and Okanagan regions of British Columbia. Product innovations include Canada's first free chequing account from a full-service financial institution. To learn more, visit coastcapitalsavings.com.

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