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Westminster Savings members vote on Special Resolution 2015-01 and elect new directors to the board

New Westminster, B.C. - September 24, 2015 - Westminster Savings announced the results of its recent member vote on Special Resolution 2015-01 and Directors’ Election at its Annual General Meeting last night.

Members voted to accept Special Resolution 2015-01 to amend the Rules of the credit union to ensure a high level of transparency and flexibility while maintaining and enhancing the sound governance practices of the credit union. In order to be approved, at least two-thirds of the votes cast by members eligible to vote had to be in favour of the resolution. As 86% of members voted in favour of Special Resolution 2015-01, the Resolution was approved.

Four candidates stood for election this year, with members electing incumbent Robert G. Shirra and newcomers Hanne Madsen and James R. Ensom to the Westminster Savings Board of Directors.

"Combined, the three elected individuals bring their diverse backgrounds and specific skills and experience in the areas of accounting, financial analysis, strategic planning, human resources management, information systems and technology to the board," said Patty Sahota, chair of Westminster Savings' Nominations Committee. "Their knowledge complements the current skills and experience of the other board members and contributes to Westminster Savings' commitment to provide enduring value to our membership and ensure good governance."

Mr. Ensom is a retired chartered accountant with 35 years' experience, who has been a consultant to the finance sector, in particular credit unions, for the past 17 years. Mr. Ensom brings with him extensive experience in all aspects of financial management, including credit and treasury management and oversight, and enterprise risk management.

Ms. Madsen is a senior executive with more than 20 years of experience in financial analysis, strategic planning and operational and human resources management. As the former President and co-owner of DanFoss Couriers & Freight, Ms. Madsen successfully grew the business from $250,000 to a $5 million company through acquisitions and expansion of branch and service territories.

Mr. Shirra, the only incumbent director seeking re-election, has served on the board since 2010. He built a successful management company, RGS Consulting International Inc. and has extensive experience in strategic and business planning, enterprise architecture development, strategic sourcing and supplier management, technology and systems deployment, and technology consulting.

"We welcome Rob back and are excited to add Hanne and James' deep experience to our team. We would also like to take this opportunity to thank our retiring directors, Michael Edwards and Douglas J. King, for their long-standing commitment to the credit union,” said Bill Brown, chair, Board of Directors.

Mr. Edwards is Westminster Savings' longest serving director having been elected to the board in 1973, and one of Westminster Savings’ most loyal members having been a member for more than 66 years.

"During his tenure, Michael has been a constant force at the board table steering the credit union through tremendous growth over the past four decades. His contributions and insights have proved invaluable, and his integrity and passion instrumental," said Bill Brown.

Mr. King was elected to the Maple Ridge Community Credit Union board in 1983 and appointed to the Westminster Savings Board of Directors when the two credit unions merged in 1997.

"Doug has made many valuable contributions during his 32 years on the board to both Westminster Savings and the credit union system. His strong business advisory skills, financial acumen, drive and sound financial judgement have proved to be valuable assets for the credit union," said Bill Brown.

About Westminster Savings Credit Union

At more than $3.2 billion in assets under management, over 400 employees, and 55,000 members, Westminster Savings is amongst 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.

For more information, please contact

Cathryn Tucker
Manager, Corporate and Internal Communications