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Central 1 Announces Voting Results from Virtual Annual General Meeting

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VANCOUVER, April 27, 2021 — Central 1 Credit Union (“Central 1”) announced the voting results from its 2021 virtual Annual General Meeting (AGM) held on April 23, 2021. 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; and
  • the 2021 operating dues.

A third resolution proposing the rescinding of two resolutions 91-SAM-O-6 and 97-SAM-O-2 and voted on by Class A members having their head office in BC, only, was defeated.

Central 1 previously announced, March 29, 2021, that the following candidates were declared elected or re-elected:

  • for BC region, Barry Delaney and John Kortram (re-elected for third term) – both for 3-year terms
  • for ON region: Richard Davies and John Klassen, each for a 3-year term, and Tom Vandeloo for a 2-year term

In addition, Vancouver City Savings Credit Union appointed Christie Stephenson to Central 1’s Board for an initial term of two years commencing at the conclusion of the 2021 AGM and expiring at the conclusion of the 2023 AGM.

On April 12, 2021, Central 1’s Board of Directors approved the re-appointment of Penny-Lynn McPherson for a further 3-year term expiring at the conclusion of the 2024 AGM and appointed Carolyn Burke for a 2-year term expiring at the conclusion of the 2023 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:

Carolyn Burke Shelley McDade
Paul Challinor Penny-Lynn McPherson
Richard Davies Rob Paterson
Barry Delaney Sunny Sodhi
Mary Falconer Christie Stephenson
Bill Kiss Tom Vandeloo
John Klassen Cheryl Wallace
John Kortram

 

At the Board’s reorganization meeting on April 23, 2021, Rob Paterson and Shelley McDade were elected as Board Chair and as Vice-Chair, respectively, for a term of one year.

About Central 1

Central 1 is a preferred partner for financial, digital banking and payment products and services – fuelling 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:

Amanda Wheat

Senior Legal Counsel and Corporate Secretary

Central 1

T 604.737.5935

E awheat@central1.com