Central 1 Announces Elected and Appointed Members to its Board

VANCOUVER, British Columbia, March 04, 2019 (GLOBE NEWSWIRE) -- Central 1 Credit Union (Central 1) is pleased to announce the re-election of Bill Kiss and the election of Mary Falconer and Cheryl Wallace to Central 1’s Board of Directors (Board). In addition, Meridian Credit Union Limited has elected to appoint Sunny Sodhi to Central 1’s Board. Each director will serve a three year term commencing at the conclusion of Central 1’s annual general and special meeting on April 25, 2019 (AGM).

Effective at the conclusion of the 2019 AGM, Central 1’s Board of Directors will be as follows:

All of the directors serve Central 1 as a whole, but directors elected by Class A members are nominated in, and elected from, either the Ontario or British Columbia (B.C.) regions. This year, there were three vacancies to be filled by election, all in the B.C. Region. A call for nominations was issued on November 8, 2018 and nominations were open until February 22, 2019.

Upon the close of nominations, Central 1’s Nominations and Elections Committee (NEC) 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. Each of Mr. Kiss, Ms. Falconer and Ms. Wallace was endorsed by the Committee. As the number of persons that were nominated and that remained standing for election as of the date set for the commencement of voting in Central 1’s 2019 director elections was equal to the number of vacancies to be filled, each of the candidates was declared elected unanimously without the necessity of a vote.

“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 Kerry Hadad and Elmer Epp, whose terms of office expire at the 2019 AGM, for their years of service to Central 1,” said Bill Kiss, Board Chair.

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:

Julie Breuer
VP of Member Relations & Stakeholder Engagement
Central 1 
T 604.714.6733
E jbreuer@central1.com