Oct 3: Vancity Wired About New Online Brokerage

Vancouver, October 3, 2000 - Vancity and Credential Securities, together with credit unions across the country, have created the first online brokerage in Canada - Credential Direct - designed to meet the specific needs of credit union members.

"Our members told us they wanted an online brokerage that gives them the superior service they've come to expect from Vancity," said Vancity CEO Dave Mowat. "We've responded with a new online product designed for them. Credential Direct offers a wide range of brokerage services from stocks and mutual funds to portfolio tracking, cash management, and news and research with access to all the North American markets."

"And, in the future, our members will have access to socially responsible investment research, allowing them to make investment choices that are consistent with their values."

Available today, Credential Direct provides access to trading via the Internet or trader-assisted phone. Equities are available and members can choose from cash, margin, and US$ accounts. Credential Direct provides access to over 1,800 mutual funds, including Ethical Funds and Credential Portfolio funds. RRSP and RRIF investments can also be made through Credential Direct.

Vancity will pay the transfer fees from other online brokerages for Credential Direct accounts. Vancity members will get their first Credential Direct trade free, along with 2,500 Canada 3000 travel points*. Members who sign up for both Credential Direct and a Vancity Gold VISA will receive 5,000 Canada 3000 travel points.

Other unique features of Credential Direct include a "portfolio basket" for real time tracking of equities by industry, and a loyalty program that rewards members with valuable points they can use to purchase additional services like research and real-time quotes.

For more information, visit Vancity online atwww.vancity.comor any Vancity community branch.

Credential Direct is a division of Credential Securities, an investment dealer providing the Canadian credit union system with a full range of investment products.

Vancity is Canada's largest credit union, with $6.4 billion in assets, 263,000 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 where we live and work.

* requires Vancity Travel VISA or Vancity Gold VISA card