Vancity appoints Chief Operating Officer

Vancouver, BC - January 31, 2006 – Ian Warner has been appointed Chief Operating Officer of Vancity Credit Union.

In the new role, which started at the beginning of the year, Warner is responsible for Vancity’s network of 47 branches, business banking, investments and insurance, commercial mortgages and marketing, with a focus on ensuring the credit union’s member-facing staff are all working together effectively. Warner will be reporting to Vancity CEO Dave Mowat.

Prior to taking on the COO role, Warner spent four-and-a-half years as President and CEO of Vancity’s subsidiary company, Citizens Bank of Canada. This followed a decade as the Vice-President, Treasury Management and Credit for Citizens Bank’s predecessor Citizens Trust.

Under Warner’s leadership, Citizens Bank’s assets grew by 50 per cent, from approximately $1.2 billion to $1.8 billion. Major achievements include the amalgamation of the Citizens Bank and Vancity call centres that led to a drastic improvement in customer service ratings for both organizations; the successful integration of Vancity’s commercial mortgage division; and the strengthening of corporate governance. In addition, as part of his Citizens Bank VISA responsibilities, he went on to launch Canada’s first prepaid VISA card in 2005.

Last March, Citizens Bank of Canada was rated by the Globe and Mail’s Report on Business magazine as the country’s top-ranked bank for corporate social responsibility. In 2001, Warner was recognized by Business in Vancouver magazine as one of the “40 under 40” top performers in a business environment.

He has been a member of the executive council of the Canadian Bankers Association, and currently serves on the Board of Mines Action Canada.

Prior to joining the Vancity Group of Companies, Warner held various positions in foreign exchange for the Royal Bank of Canada in Tokyo and the Bank of Nova Scotia in Vancouver. He has a bachelor’s degree from UBC and a CFA designation.

Terry Wong, Citizens Bank’s Vice president of Treasury and Finance, is serving as the acting President and CEO while an executive search takes place.

Vancity is Canada’s largest credit union, with $10.5 billion in assets, 330,000 members, and 47 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 where we live and work.