VANCOUVER, British Columbia, March 09, 2020 (GLOBE NEWSWIRE) -- Central 1 Credit Union (Central 1) is pleased to announce that four directors – including two new to the Board – have been declared elected by acclamation to Central 1’s Board of Directors and will begin three-year terms following the conclusion of Central 1’s annual general meeting on April 28, 2020 (AGM).
Four seats were available in this year’s election, two in each of Central 1’s two regions, namely British Columbia (BC) and Ontario (ON). While directors elected by Class A members are nominated in, and elected from, either the ON or BC regions, all directors serve Central 1 as a whole.
Nominations were open from December 6, 2019 and closed on February 21, 2020. In total five candidates, including two incumbent directors, submitted their applications and went through a rigorous process that included reference checks by a third party consultant and interviews with Central 1’s Nomination and Election Committee (Committee). The Committee considered the report of the third-party consultant, alignment with the board-approved director recruitment profile and desired competencies, skills and experience before deciding which candidates to endorse for election.
The Committee ultimately endorsed four candidates for the four available seats, indicating those candidates had the skills, experience and competencies needed to oversee Central 1 on behalf of its members. While candidates who are not endorsed may remain in the election if they meet all nominations requirements, the unendorsed candidate this year opted to voluntarily withdraw.
As a result, the following candidates were declared elected by acclamation:
- for BC region, Shelley McDade (re-elected for second term) and Paul Challinor
- for ON region: Rob Paterson (re-elected for third term) and Kerry Hadad
In addition, Vancouver City Savings Credit Union Limited has re-appointed Jan O’Brien (appointed for second term) to Central 1’s Board.
Effective at the conclusion of the 2020 AGM, Central 1’s Board of Directors will be as follows:
| Paul Challinor Mary Falconer Bill Kiss John Kortram Kerry Hadad Rick Hoevenaars Shelley McDade | Penny-Lynn McPherson Rob Paterson Jan O’Brien Blaize Reich Sunny Sodhi Cheryl Wallace Rob Wellstood |
As a result of the merger between Prospera Credit Union and Westminster Credit Union, Angela Kaiser will be resigning from Central 1’s Board, effective April 27, 2020. Pursuant to Central 1’s Constitution and Rules, the Board may fill this casual vacancy by appointment for the one-year balance of Ms. Kaiser’s term.
“I would like to offer my thanks to the candidates for their willingness to serve Central 1 and its members. I would also like to thank outgoing directors Joel Lalonde, Launi Skinner and Angela Kaiser for their years of service to Central 1,” said Bill Kiss, Board Chairperson.
About Central 1
Central 1 is a preferred partner for financial, digital banking and payments products and services – fueling the success of businesses across Canada. We leverage our scale, strength and expertise to power progress for more than 250 credit unions and other financial institutions, enhancing the financial well-being of more than 5 million customers from coast to coast. For more information, visit www.central1.com.
Caution Regarding Forward Looking Statements
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. These include, without limitation, statements contain the words “may,” “will,” “intends” and “anticipates” and other similar words and expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Actual results may differ materially from those currently anticipated. Securityholders are cautioned that such forward-looking statements involve risks and uncertainties. Certain important assumptions by Central 1 in making forward-looking statements include, but are not limited to, directors fulfilling their expected terms of office and corporate governance schedules. Important risk factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include risks detailed from time to time in Central 1’s periodic reports filed with securities regulators. Given these risks, the reader is cautioned not to place undue reliance on forward-looking statements. Central 1 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws
Contact:
Marilyn Loewen Mauritz
Chief Transformation & Legal Officer, Corporate Secretary
Central 1
T 604.737.5935
E mmauritz@central1.com