July 9

Vancity appoints Tamara Vrooman as new Chief Executive Officer

July 9, 2007, Vancouver, BC — Vancouver City Savings Credit Union (Vancity) has appointed Tamara Vrooman as its new Chief Executive Officer, the credit union announced today.

“We are delighted to have found someone with the inspirational leadership qualities, financial and business smarts, and deep-rooted values that Tamara Vrooman embodies to lead Vancity” said Patrice Pratt, Chair of Vancity's Board of Directors. “We conducted a robust international search and are especially pleased that we found a leader who is homegrown.”

Vrooman, who for the past three years has served as Deputy Minister of Finance and Secretary to Treasury Board for the Government of British Columbia, was born in Victoria and grew up in Kamloops, BC, and has a career history of public service.

Prior to her current role, Vrooman served in the province's Ministry of Health as Deputy Minister of Health, Assistant Deputy Minister of Corporate Services and Financial Accountability, and Executive Director of Funding Planning and Evaluation. She previously worked in the Ministry of Finance managing Treasury Board staff and as a Treasury Board analyst.

“As the world's largest community-based credit union, we searched for a senior executive who has a passion for delivering a triple bottom line mandate of financial strength, community leadership, and environmental change. Vancity knows how to make money and create lasting social change. We believe Tamara is the right person to move us even farther along these paths,” Pratt said.

Vrooman, 39, replaces Dave Mowat, who served as CEO for seven years and recently joined ATB Financial in Alberta as President and CEO.

“I am thrilled to be joining an organization that is well-known, successful, not afraid to take risks, and is thoughtful in terms of what it means to be a co-operative, a banker, an employer, and a member of the community,” said Vrooman.

“Vancity is a unique organization in this country. Working with Vancity's board, employees and members will allow me to blend my commitment to public service, knowledge of financial services and my understanding of the provincial landscape.”

Vrooman, who is married with a pre-school-age son, is a recipient of the Knowledge and Leadership PEAK Award (2007) from the Association of Women in Finance, Canada's Top 40 Under 40 Award (2005) from the Caldwell Partners, and the Queen's Golden Jubilee Medal for Outstanding Public Service (2003). She has a Bachelor of Arts (Honours) and Master of Arts (History) from the University of Victoria.

Vrooman takes up her new position on September 1, 2007.

Vancity is Canada's largest credit union, with $12.3 billion in assets, more than 363,000 members, and 57 branches throughout Greater Vancouver, the Fraser Valley, Squamish and Victoria. Vancity owns Citizens Bank of Canada, serving members across the country by telephone, ATM, and the Internet. Both Vancity and Citizens Bank are guided by a commitment to driving positive change and to improving the quality of life in the communities where we live and work.

Vancity Board of Directors Chair Patrice Pratt and incoming CEO Tamara Vrooman will be available for interviews at Vancity Centre on Monday, July 9 between 2 and 5pm. Please contact Jane MacCarthy at 604-877-4539 to arrange an interview.