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June 03, 2015 6:37 PM 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 And Prospera End Merger Talks

After careful consideration, the Boards of Directors of Westminster Savings Credit Union Ltd. and Prospera Credit Union have mutually agreed to cease merger discussions effective immediately. "Given the challenges we continue to face in our operating environment and the costs required to bring our two credit unions together, the boards of both credit unions believe it is in the best interests of our members and employees to pursue independent business strategies at this point in time," said Bill Brown, Board Chair, Westminster Savings Credit Union Ltd.

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.

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