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September 19, 2003 Canada's fifth largest credit union chooses Credential® as their wealth management partner. VANCOUVER, BC - Credential Financial Inc. (Credential) and Community Savings announced today an agreement that will see Credential become the sole provider for all of Community Savings' Wealth Management business. "Our credit union's objective is to help our members achieve their long-term financial goals. By consolidating our wealth management business with Credential, we are on target with our strategy to provide our members with seamless service and product support" said Herb Der, Community Savings Chief Executive Officer. Credential President and CEO, Don Rolfe, states "It is important to build upon relationships and to work closely with our credit union partners. We are pleased that Community Savings has chosen to partner with Credential and we will work hard to help position them competitively within the communities they serve and the wealth management industry as a whole." The conversion of members' mutual fund investments to Credential Asset Management Inc. will take place this fall, likely in early November. Credential will work closely with Community Savings to ensure a smooth transition. Community Savings is a locally owned credit union with 495 employees that provides complete financial services to over 103,000 members throughout Central and Southern Alberta, from 24 full service locations. Community Savings has $1.5 billion in assets, ranking it as the 2nd largest credit union in Alberta and the 5th largest in Canada. Credential is the national wealth management provider owned by the Canadian credit union system. Credential offers a growing line of integrated products and services for all stages in the financial life cycle of Canadians. Credential consists of several companies that operate under common management and direction. These include: Credential Asset Management Inc., the distributor of proprietary and third party mutual funds; Credential Securities Inc., a full service investment dealer; Credential Direct® an on-line brokerage service and division of Credential Securities Inc.; and Credential Insurance Services Inc., a subsidiary of Credential Asset Management Inc. that facilitates the sale of products such as life, disability and critical illness insurance, plus segregated funds and annuities. Credential, Credential Group & Design and Credential Direct are registered marks and trademarks owned by Ethical Funds Inc. and are used under licence. For more information, please contact: John Fries Vice President, Sales Credential Financial Inc. Tel: 604.714.3913 Darcy Mykytyshyn Senior. Manager - Customer Relations and Strategic Planning Community SavingsTel: 403.342.9302 |
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Carol Boutin Manager, Marketing Communications t: 604.714.3997 f: 604.714.3861 e: cboutin@credential.com |