Oct 11: Free Investor Protection Seminars

Vancouver, October 11, 2002 - A unique partnership between Vancity Credit Union and the senior regulator of investment markets in British Columbia has produced a series of free public seminars in the region.

The seminars are aimed at those aged 30-45 who are getting established, those aged 45-60 who are building and growing their assets and those 60+ who are enjoying retirement. More than 30 sessions are taking place in October and November in communities in the Lower Mainland, Fraser Valley and Victoria.

The seminars for those aged 45-60 and those aged 30-45 feature a presentation by Securities Commission regulators entitled Investigate Before You Invest. It details actual cases of fraud in the financial marketplace and gives investors the knowledge they need to avoid becoming victims.

The seminars also deal with tax and retirement planning along with investment tips including asset allocation, volatility, tax-advantaged investments, risk planning as well as planned giving and estate planning ideas.

The seminar for those aged 60+ begins with a video entitled: Affinity Fraud: Preying on Those Who Pray. The documentary, produced by the B.C. Securities Commission, details the dramatic increase in the number of investment frauds that are perpetrated by members of organizations and associations -- often victimizing members of religious groups and church congregations.

The seminar also deals with tax and level income planning, retirement investment tips for markets and managed portfolios, planned giving and estate planning.

"Both organizations have a crucial stake in investors being well informed about the world of investment products to maintain a healthy skepticism of exaggerated returns on investment products and opportunities that are too good to be true," says Mike Bernard, one of the presenters for the B.C. Securities Commission. "Working with a large organization like Vancity is a natural fit for getting the message out."

"The advice at this seminar can go a long way to informing people about the dangers while assisting them in making the right financial decisions based on full knowledge," says Peter Brow, Investment and Retirement Advisor at Vancity.

The seminars are free, but space is limited. For times, dates and locations and to register, visit a Vancity branch or call 604-709-5827.

Vancity is Canada's largest credit union with $7.5 million in assets, 282,000 members and 39 branches throughout Greater Vancouver, the Fraser Valley 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 corporate social responsibility and to improve the quality of life in the communities.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.