Coast Capital Savings Credit Union

Coast Capital Savings Credit Union

May 04, 2009 11:39 ET

One New and Two Incumbent Directors Elected to Coast Capital Savings Board

Coast Capital Announces Directors Election Results at 2009 Annual General Meeting

SURREY, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - Coast Capital Savings announced today that two incumbents and one new director have been elected to serve three-year terms on the credit union's board.

Newly elected to the board is Ms. Christian Findlay, a former Senior Vice President with RBC Financial Group. Incumbents Mr. Daniel Burns and Ms. Karen Kesteloo, who have both served more than 15 years as directors, were re-elected to the Coast Capital Savings board.

"Board elections provide a great opportunity for Coast Capital Savings members to have a say and to actively strengthen and enrich the credit union and its governance," noted Bill Wellburn, chair of the Coast Capital Savings board. "The three newly elected board members were recommended for election to the board by the credit union's Nominations Committee. Each is a business and community leader who possess specific skill sets and business experience we need to continue our success."

Wellburn said Findlay's background as a leader and accredited professional coach, her knowledge of the Canadian financial landscape, along with her understanding of corporate citizenship and the benefits that it offers employees, customers and the community, will complement Coast Capital Savings' board of directors. He congratulated Burns and Kesteloo for their several years of dedicated service to Coast Capital Savings as board members.

Burns is an entrepreneur and lawyer who has been serving on the board since 1994. Wellburn said his expertise in corporate strategy and governance will continue to prove a valuable asset to the board and the organization as a whole. In addition, Burns serves on the boards of Central 1 Credit Union and Credit Union Central of Canada.

Kesteloo has over 24 years of board experience with Coast Capital Savings. She is a CGA and a partner in an accounting firm. "Her board experience coupled with her financial expertise and her commitment to transparency in decision making will continue to benefit Coast Capital Savings and its members by her re-election to the board," Wellburn added.

Detailed results of the directors election are as follows:



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Candidate Total Valid Votes
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Dan Burns 13,639
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Christian Findlay 13,223
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Karen Kesteloo 13,051
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Rajinder Sahota 2,951
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Partap Singh 1,959
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Elizabeth Woods 690
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Coast Capital's directors election took place from March 27 to April 15. The results were announced at the credit union's 2009 annual general meeting held April 29 in Victoria. The newly elected directors join Bill Wellburn, Frank Harper, Glenn Wong, Mary Jordan, Gail Stephens, Bill Cooke and Doug Stone on Coast Capital's 10 person board of directors.

More election details, information on the full composition of the credit union's current board and biographies of all directors, have been posted on Coast Capital Savings' website at www.coastcapitalsavings.com.

Coast Capital Savings is Canada's second largest credit union with total assets under administration of $12.3 billion, 404,000 members and 50 branches in the Metro Vancouver, Fraser Valley and Vancouver Island regions of British Columbia. Product innovations from Coast Capital Savings include Canada's first free chequing account from a full-service financial institution, the first business account in the country to offer unlimited transactions for a flat fee and the newly introduced High-interest, No-fee Savings Account, another first for the Canadian financial industry. The credit union was named one of BC's Top 50 Employers in 2009, is one of Canada's 50 Best Managed Companies and the recipient of the Canadian Co-operative Association Innovations in Co-operative Governance Award. Coast Capital Savings has also been designated a Caring Company by Imagine Canada. To learn more, visit www.coastcapitalsavings.com.

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