Coast Capital Savings Credit Union

Coast Capital Savings Credit Union

April 30, 2009 11:36 ET

Tracy Redies Named Coast Capital Savings' Next CEO

SURREY, BRITISH COLUMBIA--(Marketwire - April 30, 2009) - Coast Capital Savings has announced the appointment of Tracy Redies as its new President and Chief Executive Officer. The announcement was made last night in Victoria at the credit union's 2009 Annual General Meeting.

Effective June 8, 2009, Redies will succeed Lloyd Craig who leaves the CEO post in early June after a distinguished 23 year career with Coast Capital Savings and one of its heritage credit unions.

Named one of the top 100 most powerful women in Canada by the Women's Executive Network in 2007, Redies comes to Coast Capital Savings after a 20 year career with HSBC, where she most recently served as the bank's Executive Vice President, Personal Financial Services and Wealth Management. Responsible for a branch network of 140 HSBC locations nationwide, Redies brings with her an extensive knowledge of the financial services sector including eBusiness strategy and growth, as well as fund and wealth management.

Bill Wellburn, chair of the Coast Capital Savings Board of Directors, said that after an extensive national search, the Board is confident that Redies will build on Coast Capital Savings' proven ability to deliver helpful financial products and innovative ideas to the marketplace.

"We are delighted to have found someone as qualified and well suited to our organization as Tracy Redies," Wellburn said. "Tracy has an established record for increasing customer acquisition, sales and revenue. That track record along with her extensive experience in the financial industry, her business savvy and her engaging leadership style make her a natural fit for Coast Capital as we move into the future."

Prior to her current post, Redies held the position of President and Chief Executive Officer with HSBC.com, and Head of the Global eCommerce Centre of Excellence, where she led a global IT team of 700 people located in international centres including Chicago, London, Hong Kong and India.

"The Canada-wide search for our new Chief Executive Officer brought forth a highly qualified list of applicants, but in the end, Tracy was the unanimous choice as the successful candidate," explained Wellburn. "We're especially pleased that we're able to hire someone who lives here in British Columbia, someone who knows Coast Capital Savings well from the outside and really appreciates the difference we make in the communities we serve."

Redies said she is looking forward to the challenges presented by taking on the top executive role within a growing and ambitious financial institution.

"I am thrilled to be joining the Coast Capital Savings team," said Redies. "Joining a financial institution with such an outstanding reputation for excellence in service, products and management is very exciting. I have watched Coast Capital grow in size, market share and brand recognition over the past few years and am looking forward to contributing to its continued success."

Redies lives in Surrey with her husband and is the mother of four school aged children. She holds a BA, double major in Economics and Asian Studies from the University of Victoria and an MSc in Business Administration from the University of British Columbia. Redies is a Director of the CD Howe Institute, Vancouver Board of Trade, as well as C.H.I.L.D. Foundation USA, and was formerly a volunteer director with the Canadian C.H.I.L.D. Foundation.

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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