For immediate release

VANCOUVER, May 6, 2020 — Central 1 Credit Union (“Central 1”) announced the voting results from its 2020 virtual Annual General Meeting (AGM) held on April 28, 2020. Class “A” Members approved, by ordinary resolution on an electronic ballot:

• the appointment of the auditors to hold office until the conclusion of the next annual general meeting of Central 1 at a remuneration to be set by Central 1’s Board of Directors;
• the 2020 operating dues; and
• the 2020 flow-through dues.

Central 1 previously announced on March 11, 2020 that 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

Each re-elected and elected Director was elected to a three-year term commencing at the conclusion of the 2020 AGM and expiring at the conclusion of the 2023 AGM. In addition, Vancouver City Savings Credit Union re-appointed Jan O’Brien to Central 1’s Board of Directors, also for a term of three years commencing at the conclusion of the 2020 AGM and expiring at the conclusion of the 2023 AGM.

On May 5, 2020, Central 1’s Board of Directors approved the appointment of Chris Catliff to fill a casual vacancy on the Board left by the resignation of Angela Kaiser. Mr. Catliff’s appointment will commence on May 5, 2020 and expire at the conclusion of the 2021 AGM.

Central 1’s Board of Directors believes that the diversity of the newly-elected and appointed Directors contribute to a Board that is diverse, including in background, skills, experience and gender, and reflects the diversity of the communities that Central 1 serves.

Central 1’s Board of Directors is composed of the following directors:

Also, on May 5, 2020, Bill Kiss and Rob Paterson were re-elected as Board Chair and elected as Vice-Chair, respectively, for a term of one year.

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