March 30 2007 Media Release

Vancouver, British Columbia, March 30, 2007 — A record turnout of eligible Vancity voting members re-elected current Board member Doreen Braverman and elected newcomer Virginia Weiler and former Board member Bob Williams to fill three vacancies on the Board of Directors.

Doreen Braverman was re-elected to the Board of Directors. She previously served as a Vancity Board member from 2000 to 2003 and again from 2004 to 2007, and was on the Board of the Vancity Community Foundation from 2000 to 2003. Owner of the Flag Shop, a small business founded in 1975 that has grown to 13 stores across Canada, she is also a recipient of the Canadian Woman Entrepreneur of the Year Lifetime Achievement Award.

Virginia Weiler is a business and international development consultant specializing in credit management for small and medium-sized businesses and non-profits. As a former Vancity employee, Virginia helped create the business plan for Vancity Capital Corporation. She was the founding director of economic development for Ecotrust Canada and is currently a director with Smart Growth BC.

A former provincial MLA, cabinet member and Deputy Minister, Bob Williams has a background in economics and city planning. From 1983 to 1995, he served as a Vancity Board member, including a term as Board Chair from 1988 to 1990. Bob is also a past Chair of Vancity Capital and Vancity Enterprises, and served as a senior research fellow for Vancity from 2004 to 2006.

A record number of 23 candidates ran for the positions. Election results were:

A record number of ballots were cast in this year’s election — 21,168, representing 8.2 per cent of overall eligible voting members. By comparison, 6.4 per cent of eligible voters participated in the 2006 Board election.

Vancity members also passed a special resolution for the adoption of a change to the Vancity Rules by a majority of 90 per cent of those who voted on the resolution.

"Throughout Vancity's 60-year history, member input and participation has been key to our success as a financial institution and community leader," said Reva Dexter, Chair of the Election Committee for the Vancity Board of Directors, who is retiring after serving since 1995. "We thank our members who turned out in record numbers as candidates and voters, as by doing so they are shaping the future and direction of Vancity and ensuring we continue to serve the needs of the communities in which we operate."

The newly-elected Board members will take office at the conclusion of Vancity’s Annual General Meeting on April 11.

The Vancity Group includes Vancity and its subsidiaries, including Citizens Bank of Canada. Vancity is Canada’s largest Credit Union with $12.3 billion in assets, more than 356,000 members, and 50 branches throughout Greater Vancouver, the Fraser Valley, Victoria and Squamish. 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. Visit Vancity’s website at www.vancity.com.