October 20, 2014 6:35 AM ET

Diversified Financial Services

Company Overview of Westminster Savings Credit Union Ltd.

Company Overview

Westminster Savings Credit Union Ltd. operates as a credit union that provides financial services to the residents of Metro Vancouver. Its personal banking services include checking and savings accounts, personal loans and lines of credit, mortgages, and registered retirement savings plans (RESPs) and RRIFs; and business banking services, including banking accounts, loans, mortgages, VISA credit cards, term deposits, and investments. The company also provides online brokerage, direct deposit, wire transfer, travelers’ cheques, foreign currency and bank drafts, safety deposit boxes, and online banking services. In addition, Westminster Savings Credit Union Ltd., through its subsidiaries, prov...

960 Quayside Drive

Unit 406

New Westminster, BC V3M 6G2

Canada

Founded in 1944

Phone:

604-528-3815

Fax:

604-528-3847

Key Executives for Westminster Savings Credit Union Ltd.

Chief Executive Officer and President
Vice President of Finance and Controller
Chief Credit Officer and Senior Vice President of Commercial Operations
Chief Customer Experience Officer and Senior Vice President of Consumer Operations
Chief Information Officer
Compensation as of Fiscal Year 2014.

Westminster Savings Credit Union Ltd. Key Developments

Westminster Savings and Prospera Credit Union Discuss Merger

The Boards of Directors of Prospera Credit Union and Westminster Savings Credit Union Ltd. are pleased to announce they have recently initiated merger discussions. Westminster Savings Board Chair, Bill Brown said, "Currently, we are in the early stages of exploring a merger and beginning the necessary due diligence in accordance with the Credit Union Incorporation Act and regulatory guidelines. The due diligence process will culminate in the analysis of a business case to ensure that a merger would add more value for our members, provide more opportunities for our employees, enable us to invest more in the communities we serve, and strengthen the credit union system as a whole." If following the due diligence process, the Boards of Directors of both credit unions agree to pursue a merger, the next step would involve seeking consent from the Financial Institutions Commission of the proposed amalgamation agreement as per the Credit Union Incorporation Act as well as approval from our membership early in the Spring of 2015.

Westminster Savings Credit Union Names Diana Chan as Senior Vice President, Human Resources and Corporate Communications

Westminster Savings Credit Union announced the appointment of Diana Chan as Senior Vice President, Human Resources and Corporate Communications. Ms. Chan joins Westminster Savings from Central 1 Credit Union where she held the position of Senior Vice President, Human Resources. Prior to joining Central 1 in 2009, Diana was with Lululemon Athletica responsible for overseeing and managing its Store Support Centre human resources team. Diana spent thirteen years with Ernst & Young, with four years in a leadership role with its Canadian human resources team.

Westminster Savings Credit Union Announces Executive Changes, Effective October 29, 2012

The Board of Westminster Savings Credit Union announced the appointment of Gavin Toy as President and Chief Executive Officer. Mr. Toy was most recently Senior Vice President and Chief Financial Officer for Westminster Savings and its subsidiaries. Prior to joining Westminster Savings in March 2011, Mr. Toy held a number of executive level positions with another prominent BC member-based organization. Most recently he was Senior Vice President and Chief Operations Officer at BCAA with responsibility for all customer-facing operations. Mr. Toy will assume his new role on October 29, 2012. He replaces Barry Forbes, who is retiring after 41 years with the organization.

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