Westminster Savings members elect new directors to the board

Westminster Savings Credit Union (Westminster Savings) announced the results of the 2018 Directors Election at its 74th Annual General Meeting last night. Six candidates stood for election this year, with members voting incumbent Hanne Madsen and newcomers Colin G. MacKinnon and Rita Virk to the Westminster Savings Board of Directors.

“The specific skills and experience of the three elected individuals in the areas of strategic planning, financial management, risk management, marketing, operational and human resources management complements and deepens the skills and experience of current board members, and will further support the credit union’s commitment to ensuring good governance while providing enduring value to our membership,” said Kathleen Kennedy-Strath, chair of the Westminster Savings Nominations Committee.

Hanne Madsen has served on the board since 2015. She is a senior executive possessing keen business acumen with more than 20 years of experience in financial analysis, strategic planning, marketing, operational and human resources management, as well as advocacy and media relations. As the former president and co-owner of a transportation business, Ms. Madsen successfully grew business revenues twentyfold over two decades through acquisitions and expansion of branch and service territories. Ms. Madsen is a conscientious and collaborative member of the board and during her tenure has provided valuable expertise in the areas of strategic planning, governance and community leadership. Ms. Madsen currently serves as chair of the Westminster Savings Foundation and is a member of the Governance and Conduct Review and Investment and Loan Committees.

Colin G. MacKinnon is a chartered professional accountant, bringing with him more than 40 years of experience in executive management roles in financial service organizations, with a focus on strategic planning and all aspects of corporate financial management, including risk management, and credit and treasury oversight. Mr. MacKinnon is a community-minded business executive, having been involved for over 35 years as a volunteer with Special Olympics, both provincially and nationally, and was instrumental in establishing BCAA’s Road Safety Foundation. In addition to possessing a high level of financial acumen, Mr. MacKinnon’s extensive regulatory and corporate governance background will prove to be a great asset at the board table.

Rita Virk is a chartered professional accountant with extensive experience in financial reporting and analysis, risk management and internal audit across a wide range of industries. Ms. Virk’s advanced financial acumen and background will be instrumental in the areas of credit and treasury oversight, and financial management strategy, with her regulatory and governance leadership experience proving to be a great asset to the current board skill set. Ms. Virk is highly engaged in civic and community events and currently serves on the South Asian Committee of the BC Children’s Hospital Foundation.

"We are pleased to welcome Hanne back, and have Colin and Rita join us at the board table,” said Darlene K. Hyde, Board Chair. “We express our appreciation to Anwar Chaudhry, Rob Shirra and Jamie Ensom for taking the time to stand for election, and would also like to take this opportunity to thank Rob and Jamie for their years of service to the board.”

Mr. Shirra and Mr. Ensom were elected to the board in 2010 and 2015 respectively. Their contributions and insights proved to be valuable assets for the credit union, which experienced significant growth and success during their tenure.

2017 Annual Report online

Westminster Savings’ interactive Annual Report and downloadable Management Discussion and Analysis, Governance Report and Westminster Savings Foundation Report are available at wscu.com.

About Westminster Savings Credit Union

At more than $4.0 billion in assets under management, more than 67,000 customers and 400 employees, Westminster Savings is among the largest credit unions in Canada. Known for its customer and community focus, people-oriented culture, and sound financial and operating practices, Westminster Savings provides a full range of retail, commercial, leasing and wealth management solutions to meet its customers’ evolving needs. As a designated Caring Company, the credit union contributes a percentage of pre-tax profit to charities and nonprofits annually, helping to set the standard for corporate community investment in Canada.

For more information, visit www.wscu.com.

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For more information, please contact:

Cathryn Tucker

Manager, Corporate and Internal Communications

604-519-4210

ctucker@wscu.com