Credit Union Central of British Columbia

Credit Union Central of British Columbia

November 08, 2005 12:05 ET

Wayne Nygren to Retire from Credit Union Central of British Columbia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2005) - Wayne Nygren, President and Chief Executive Officer of Credit Union Central of British Columbia, today announced his intention to retire in April 2006.

"I have advised Central's Board of Directors that I intend to retire following the Annual General Meeting in April next year," said Nygren. "That will allow ample time for a thorough recruitment process and a smooth transition when I leave office."

Nygren, 60, joined Central in 1981 as Vice-President, Finance and Chief Financial Officer. He was appointed President and Chief Executive Officer in 1985.

"By the time I retire, I will have been with Central for almost 25 years and President for nearly 21 years," Nygren said. "I have been truly blessed to have had a career that I thoroughly enjoyed. Over the years, I have worked with excellent chairpersons and boards of directors. The credit unions in British Columbia and across Canada have treated me in a first-class manner and it has been a pleasure working for them.

"My life-long passion has been to help build a financial alternative for Canadians. I have enjoyed the challenges of the position and have been closely involved in the many changes that have occurred within the credit union system and financial services industry. I am now looking forward to the opportunities that come with retirement."

Daniel Burns, the Chairperson of the Board of Directors, said, "I do not know of any other person who has contributed more to the credit union system in British Columbia, or Canada for that matter, than Wayne Nygren.

"Wayne has led the development of the strongest credit union system in Canada and made Central a major player in the financial services sector of B.C."

During his career with Central, Nygren has held various leadership positions in the national and international credit union systems, and in the Canadian financial services industry.

Nygren is a director of Credit Union Central of Canada and is currently serving on the board of the World Council of Credit Unions. He was a founder of the Canadian Payments Association and was a director from 1993 to 2002, and continues to serve as an alternate director.

His current community involvement includes serving on the boards of Trinity Western University and the B.C. Schizophrenia Society and on the Salvation Army's Lower Mainland Advisory Council. Over the years, he has served on the boards of many corporate, not-for-profit, and professional sports organizations.

Nygren has long been involved in business leadership in Vancouver, both with the Business Council of British Columbia and the Vancouver Board of Trade, of which he was Chair in 1995-1996.

Prior to joining Central, Nygren held positions with Credit Union Central of Saskatchewan and the Bank of Canada in Ottawa.

Central is the umbrella organization for B.C. credit unions, providing wholesale financial and trade associational services. Central also manages its own balance sheet, with $4.5 billion in assets. Credit unions are now the largest financial network in the province, with 353 locations, 1.5 million members and some $34 billion in assets.

Contact Information

  • Credit Union Central of British Columbia
    Wayne Nygren
    President and Chief Executive Officer
    (604) 737-5034
    or
    Credit Union Central of British Columbia
    Daniel Burns
    Chairperson
    (604) 377-0889