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VANCOUVER, B.C., February 22, 2023 — Central 1 Credit Union (Central 1) is pleased to announce that four directors 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 and special meeting on April 26, 2023 (AGM).

Four seats were available in this year’s election, two in Central 1’s British Columbia region and two in Ontario region. 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.

“We thank the candidates for their willingness to serve Central 1 and our members. We are disappointed but understand that after nine years (3 terms) Rob Paterson, Chair of the Board has decided to prioritize his family and did not run for another term. We thank him for his leadership and all his hours with Central 1 over the years.” said Sheila Vokey, President and CEO.

Central 1’s Nominations and Elections Committee completed their mandate to ensure candidates have the skills, experience and competencies needed to oversee Central 1.

As a result, the following candidates were declared elected by acclamation:

  • Paul Challinor (First West Credit Union, re-elected for a second term)
  • Shelley McDade (Sunshine Coast Credit Union, re-elected for a third term)
  • Tom Vandeloo (DUCA Financial Services Credit Union, re-elected for a second term)
  • Russ Voutour (Your Neighborhood Credit Union)

About Central 1

Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $12.6 billion as of September 30, 2022, Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

Caution Regarding Forward-Looking Statements

This press release and announcement contains historical and forward-looking statements. All statements other than statements of historical fact are or may be based on assumptions, uncertainties, and management’s best estimates of future events. Central 1 has based the forward-looking statements on current plans, information, data, estimates, expectations, and projections about, among other things, results of operations, financial, condition, prospects, strategies and future events, and therefore undue reliance should not be placed on them. These include, without limitation, statements relating to our financial and non-financial performance objectives, vision and strategic goals, the economic, market and regulatory review and outlook for the Canadian economy and the provincial economies in which our member credit unions operate and the impacts of the COVID-19 pandemic, as well as statements that 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, competitive conditions, economic conditions, regulatory considerations, and the impacts of a pandemic. Important risk factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include economic risks, regulatory risks (including legislative and regulatory developments), risks and uncertainty from the impact of rising or falling interest rates, international conflicts, natural disasters or pandemic, geopolitical uncertainty, information technology and cyber risks, environmental and social risk (including climate change), digital disruption and innovation, reputation risk, competitive risk, privacy, data and third-party related risks, risks related to business and operations, and other 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.

– ENDS –

Sandra Mollet
General Counsel and Corporate Secretary
T: 604.730.6306
E: smollet@central1.com

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