Central 1 Announces New and Re-elected Members to its Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 3, 2017) - Central 1 Credit Union (Central 1) is pleased to announce the election of Joel Lalonde, Shelley McDade and Launi Skinner and the re-election of Rob Paterson to Central 1's Board of Directors. In addition, Vancouver City Credit Union (Vancity) exercised its right to appoint a director to the Board and appointed Jan O'Brien. Each director will serve a three year term commencing at the conclusion of Central 1's annual general and special meeting on April 28, 2017 (AGM).

Effective at the conclusion of the AGM, the Board of Directors of Central 1 will be as follows:

Subject to the passing of certain amendments to Central 1's Constitution and Rules at the AGM allowing the Board to fill vacancies on the Board, the Board may appoint one director for a term of up to one year to fill a current vacancy due to the retirement of a director last May.

The directors serve Central 1 as a whole, but are nominated in, and elected/appointed from, either the Ontario or British Columbia (B.C.) regions. This year, there were five vacancies to be filled - three in the B.C. Region (one to be appointed by Vancity and two to be elected) and two in the Ontario region. A call for nominations was issued on November 1, 2016 and nominations were open until February 24, 2017.

Upon the close of nominations, Central 1's Nominations and Elections Committee reviewed each application to determine eligibility to stand for election as directors and then interviewed candidates to decide whether they should be endorsed as having the competencies, skills and experience sought by the Board. In total, five candidates, including one incumbent, stood for election in the B.C. region, and three candidates, including two incumbents, stood for election in the Ontario region. Voting took place from March 14 to March 31, 2017.

The Board will hold its reorganization meeting on April 28, 2017 at which time it will elect the Chairperson, Vice Chairperson, and committee members.

"I would like to thank all of the candidates who ran, and offer my congratulations to all of the candidates who were elected, for their willingness to serve Central 1 and its members. I would also like to thank our outgoing directors, Keith Brain, Anita Braha, Kelly McGiffin and Emmett McGrath for their years of service to Central 1," said Rick Hoevenaars, Board Chair.

About Central 1

With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $17.3 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to almost 300 credit unions and institutional clients from coast to coast.

In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 70 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial system that collectively serves 3.3 million members and holds more than $116.8 billion in assets. For more information, visit www.central1.com.