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Capital City Savings reports solid, steady profit stream
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Runners set new record for School Lunch Program
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Capital City Savings employees raise $13,500 for charity
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Capital City Savings marks sixth year of support for School Lunch Road Race
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Capital City Savings offers credit at less than Prime
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Galati, Gamble & Luckin Honored by CUES®
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Capital City Savings announces '03 Dianna Stang Memorial Award
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Capital City Savings launches 'We Care' Employee Volunteer Program
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Capital City Savings car loan offers great rate
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Capital City Savings elects new members to Board of Directors
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Putting people first results in banner year for Capital City Savings
June 9, 2003
(Edmonton, Alberta) – Capital City Savings and Credit Union Limited reported a successful second quarter for the 2003 financial year, with $4.4 million in profits, up 10.4% over the same period last year.
"Our outstanding growth is driven by our emphasis on providing service, whether members choose to bank in person or electronically," stated Harry Buddle, CEO of Capital City Savings. "We offer the competitive financial services and products that people want, and we provide those services professionally, accurately and courteously."
The first six months of fiscal year 2003 produced significant growth in all key areas. Assets grew to more than $1.7 billion and membership climbed to 137,000. The credit union reported deposits of $1.6 billion and loans of $1.5 billion. Member equity reached $101.5 million.
"Increased consumer awareness of Capital City Savings is a critical factor in our success," continued Mr. Buddle. "We intend to build on our momentum with a new branch in southwest Edmonton, a new southside commercial banking centre and by expanding and renovating other branches. Our strengthened presence will enhance our reputation as a market leader."
Mr. Buddle proudly pointed out a member satisfaction score of 95%: "That many satisfied members give Capital City Savings a lot of word-of-mouth referrals. Satisfied members are among our best sources of new members."
Runners
set new record for School Lunch Program
June 4, 2003
(Edmonton, Alberta) – The 2003 Capital City Savings School Lunch Road Race raised a projected $32,000 for Edmonton's School Lunch Program, almost 16% higher than last year's total. Participation in this year's race, held June 1, increased almost 48%.
The Capital City Savings School Lunch Road Race is presented by the Edmonton Realtors' Charitable Foundation in support of Edmonton's School Lunch Program. Edmonton's School Lunch Program provides 2300 nutritious meals to students in 14 high need schools every school day, helping children get the most from their education.
The 2003 race marked the fourth year of partnership between Capital City Savings and the Edmonton Realtor's Charitable Foundation in the race. With this year's total, the event has raised $120,000 for Edmonton's School Lunch program since 1998.
"We're grateful for the support of Edmonton Realtors' Charitable Foundation and Capital City Savings," said Jasmin Hoeven, Edmonton's School Lunch Program Manager. "The race has been a great fundraiser for us, and community support is vital for the continued success of Edmonton's School Lunch Program."
The education and development of youth is an ongoing priority for Capital City Savings. Capital City Savings invests significant time, energy and money to enhance the quality of life for people in the communities where its members and employees live and work. In 2002 Capital City Savings supported over 430 local organizations and projects with $500,000 in cash and gifts-in-kind.
Capital City Savings employees raise $13,500 for
charity
June 2, 2003
(Edmonton, Alberta) – During April and May of 2003 employees of Capital City Savings and Credit Union raised $13,500 with the first annual "Fill Our Branch With Sunshine" campaign for the Capital City Savings Kids Foundation.
The Capital City Savings Kids Foundation in turn donated all proceeds to the Stollery Children's Hospital Foundation. Karen Anderson, Chair of the Capital City Savings Kids Foundation, presented the $13,500 cheque during the Children's Hospital Telethon on June 1, 2003.
Capital City Savings branches sold paper suns, which members could personalize and stick on a giant sunshine display in each branch. Each branch also raffled off a giant bunny in time for Easter.
Capital City Savings created the Capital City Savings Kids Foundation in 1996. The Foundation is a non-profit organization dedicated to raising and distributing funds for the purpose of improving the quality of life for disadvantaged children. Since 1996 the Capital City Savings Kids Foundation has distributed more than $160,000 to community programs that enrich children's quality of life. Initiatives funded include school breakfast programs, reading/literacy programs and social organizations such as Lurana Shelter, KARA and Hope Mission.
The education and development of youth is an ongoing priority for Capital City Savings, which actively supports community activities where members and employees live and work.
Capital City Savings marks sixth year of support for School Lunch Road Race
May 15, 2003
(Edmonton, Alberta) – When the pistol bangs on June 1 to begin the 2003 Capital City Savings School Lunch Road Race, the Edmonton Realtors' Charitable Foundation and Capital City Savings will celebrate six years of partnership in support of the Edmonton School Lunch Program.
Funds from the Capital City Savings School Lunch Road race are used to provide 2300 nutritious meals to students in 14 high need schools every school day, helping children get the most from their education. Since Capital City Savings became involved in 1998, the race has raised more than $81,000 for the program.
In addition to cash sponsorship, Capital City Savings promotes the race to members and employees. Employees have enthusiastically embraced the race as both participants and volunteers. Even Capsaurus, the Capital City Savings mascot, takes part!
The education and development of youth is an ongoing priority for Capital City Savings. Capital City Savings invests significant time, energy and money to enhance the quality of life for people in the communities where its members and employees live and work. In 2002 Capital City Savings supported over 430 local organizations and projects with $500,000 in cash and gifts-in-kind.
Capital City Savings offers credit at less than
Prime
May 13, 2003
Capital City Savings is responding to consumer demand for a low cost source of financing with the Capital City Savings Capital Line, a line of credit at Prime minus 0.25% for the first year.
"A Capital Line gives you immediate access to financing at rates lower than conventional loans or credit cards," explained Gail Stepanik-Keber, Vice President Marketing for Capital City Savings. "With this limited time offer, you can get instant access to credit at a rate that is less than Prime."
Capital City Savings Capital Line gives consumers instant, convenient credit, based on their home equity. Interest is payable only on the amount of credit used, meaning no stand by fees. This below prime offer applies only to new Capital Lines and is available only until September 1, 2003.
"A Capital Line gives consumers so much flexibility," continued Ms. Stepanik-Keber. "The money is there when you want it, for whatever you want. Our Prime minus 0.25% offer is an economical way to finance major purchases, consolidate debts or just to have in case of an emergency."
LAS VEGAS—The Credit Union Executives Society presented recognition awards to Faith Galati, Gordon Gamble, and Michael Luckin on April 14, during CUES Marketing, Operations & Technology Conference held at the Paris Las Vegas.
Faith Galati, vice president of marketing, SAFE Credit Union, North Highlands, Calif., was crowned the 2003 CUES Marketer of the Year. The award recognizes achievements in the effective use of results-producing marketing for her credit union. In nominating her, Henry W. Wirz, chief executive officer, SAFE CU, stated that "Faith has put SAFE Credit Union 'on the map,' making SAFE a major competitor in the community field of membership," and said that "SAFE owes a majority of its success to Faith Galati."
In accepting the award, she said that achieving the honor was "better than a 15 percent response rate. " She also recognized her SAFE CU colleagues. "I have to say I have the best team, the best CEO and best job. This makes all the difference."
Since joining SAFE in 1994, Galati has overseen a variety of campaigns that have helped the credit union grow into the second-largest in the region, with more than $1 billion in assets. Galati's recent marketing initiatives included the introduction of a new brand strategy, "Keep More of What You Earn. Bank at SAFE," that utilized celebrity spokesman Ben Stein. The results were clear: loan growth, share growth, membership growth, checking penetration, and service quality ratings all exceeding 2002 goals.
Gordon F. Gamble, senior vice president of operations, Capital City Savings & Credit Union Limited, Edmonton, Alberta, Canada, received the 2003 CUES Operations Professional of the Year Award, given annually to a credit union operations executive in recognition of top performance in his field. Gamble said, "This is a wonderful surprise to have the credit union recognized. I wanted to thank CUES for continuing the excellent support to credit unions."
In his letter of nomination, Harry Buddle, chief executive officer, Capital City, and member, CUES Hall of Fame, described how, in 1987, CCSCU was created as a "receivership" credit union through the merger of eight bankrupt financial institutions. And how, from that challenging beginning, Gamble has been instrumental in rebuilding the organization into an extremely successful credit union; helping to make CCSCU the fourth-largest credit union in Canada, and one that is in the 90th percentile of profitability. Buddle described Gamble as "a leader who showed his true colors when others said it couldn't be done," and who "went on to interrupt them by doing it!" He described Gamble as gracious, a strong believer in teamwork, and a "most worthy recipient" of this honor.
Michael Luckin, vice president of delivery systems, Technology Credit Union, San Jose, Calif., is the 2003 CUES Technology Executive of the Year. The CUES Technology Executive of the Year Award recognizes achievements in, and acknowledges the importance of, technology in credit union operations. In accepting, Luckin said, "I just want to thank you very much. One thing I would like to say is thanks for the support of my credit union; it lets me do unique and inventive things." Luckin also recognized the support of his wife.
In nominating him, Victor Smilgys, TCU's manager of e-commerce, cited these achievements as examples of Luckin's "unique ability to blend the future with the present," and applauded his ability to "visualize how new technology will work in the present and … change processes in the future." Since joining TCU in 1995, Luckin has been instrumental in developing and improving on technologies to serve the credit union's members electronically, thus enabling the organization to expand to more than $1 billion in assets. The technology initiatives Luckin is credited with include the implementation of three increasingly robust home-banking platforms; improved electronic delivery systems; the credit union's ability to issue Visa check cards on the date of application; and advances in security, including biometric technologies.
CUES is a Madison,Wisconsin-based independent membership association for credit union executives worldwide. Its mission is to advance the professional development of credit union CEOs, senior management and directors.
The Legal Capital City Savings Community Council is pleased to again sponsor the Dianna Stang Memorial Award honouring Legal area youth who are role models for their peers and community.
The award was created in honour of Dianna Stang, a former member and employee of the Legal branch of Capital City Savings who passed away in 1998. Dianna was an outstanding community citizen and businessperson with a passion for helping others. The Dianna Stang Memorial Award is a tribute to a lively and spirited individual who touched the lives of many people.
Two Legal area students, in Grades 7 to 9, are eligible to receive the award. Like Dianna, the recipients will be role models for others in both home and school. They will demonstrate leadership and involvement in the Legal community.
Dianna Stang Memorial Award recipients will each receive a $100 term deposit from Capital City Savings. Their names will be engraved on the Dianna Stang Memorial Award plaque that will be displayed in the schools of the recipients.
Students from each school are invited to submit their nomination forms to their school principal. The deadline for nominations is June 6, 2003.
Capital City Savings today announced that it will donate more funds to community organizations to encourage and reward employee volunteerism.
The "We Care" Employee Volunteer Program gives Capital City Savings employees the opportunity to apply for a $100 donation from Capital City Savings to a qualifying not-for-profit organization of their choice by volunteering 40 hours.
"Employee volunteerism is an important part of our commitment to improving the quality of life in communities where our members and staff live and work," stated Capital City Savings CEO Harry Buddle. "The We Care Program recognizes employee volunteer efforts and gives our staff a greater voice in our community investment efforts."
Employees must volunteer 40 hours or more in the community during the Capital City Savings fiscal year. Any service or support to a not-for-profit community organization can qualify. Employees can direct the $100 donation to any not-for-profit organization that has a registered charitable number and fits the corporate community investment guidelines.
We Care volunteers will be recognized annually at the Capital City Savings employee celebration. To further encourage and reward employee volunteerism, Capital City Savings will award a one-week paid vacation to a qualified volunteer, chosen by a random draw.
"Our employees already have a lot to be proud of, with their annual fundraising for United Way, Catholic Social Service and the Christmas Bureau," concluded Mr. Buddle. "If all 600 of our employees took part, that would mean 24,000 volunteer hours and an additional $60,000 for not-for-profit community organizations. Think of the potential good."
Capital City Savings can help consumers buy the perfect set of new wheels, with a 5.95% pre-approved car loan that takes the guess-work out of car shopping.
For a limited time, Capital City Savings offers qualifying customers a fixed rate of 5.95% for the purchase of a new or pre-owned vehicle. This rate is only available until July 3, 2003 and is subject to change.
"We encourage consumers to see us for a pre-approved loan, so they can arrange a flexible payment schedule in advance and shop with confidence," advised Gail Stepanik-Keber, Vice President of Marketing for Capital City Savings. "We also offer free access to
www.carcostcanada.com
for dealer prices, specifications and other information about new vehicles."
"Cars represent a major purchase," continued Ms. Stepanik-Keber. "By providing consumers with a very competitive loan rate, with no hidden costs, and access to facts that will help their decision making, we aim to help them make the most of their purchasing power."
The Capital City Savings 5.95% car loan can be applied to the purchase of cars, light trucks and motorhomes 1998 and newer. Up to seven years amortization is available for 2002 and 2003 models, and up to five years on 1998 to 2001 models.
Peter Galloway, Chair of the Capital City Savings and Credit Union Limited Board of Directors, is pleased to announce the re-election of Karen Anderson of Spruce Grove and Penny Reeves of St. Albert, and the election of Taras Nohas of Edmonton, to the Capital City Savings Board of Directors. The results were announced at the Annual General Meeting on March 5, 2003.
The members of the 2003 Board of Directors are:
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Loraine Altenweg
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Karen Anderson
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Les Anderson
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Fernande Bergeron
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Bruce Collingwood
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Peter Galloway
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Ernie Jacobson
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Murray Lightle
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Taras Nohas
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Penny Reeves
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Don Weideman
The Board of Directors is elected by the member-owners of Capital City Savings to represent the membership and to direct the affairs of the credit union. The Board is guided by the Credit Union Act and Regulations as well as the bylaws and policies of Capital City Savings. Elections are held in February.
A business based on putting people first helped Capital City Savings achieve a 15th consecutive year of record growth, the credit union announced to members at their Annual General Meeting on March 5, 2003.
"By continuing to focus on meeting the needs of our members, and our core values, we have exceeded our goals in all areas," stated Capital City Savings CEO Harry Buddle. "Our success is built on providing true personal service, combined with competitive financial products and the unique advantages of credit union membership."
Fiscal year 2002 produced record growth in all key areas. For the fiscal year ended October 31, 2002:
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earnings were up 28% from 2001, to $17.6 million (before dividends and taxes)
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assets grew 14% to $1.7 billion
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deposits increased 14% to $1.6 billion
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loans improved by 16% to $1.5 billion
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member equity reached $76.2 million, up $13.5 million
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membership climbed 9% to 134,000.
"One of the figures we are most proud of is our 92% member satisfaction," said Peter Galloway, Chair of the Capital City Savings Board of Directors. "That tells me the company is doing the right things by members. We are also proud to say that our credit union operates according to unswerving ethical and legal standards on behalf of our member-owners."
Mr. Galloway pointed out that Capital City Savings paid $5.2 million in dividends to members, an amount equal to 29% of income. Capital City Savings also lived up to its 'people first' philosophy by donating $500,000 in cash and gifts-in-kind to community organizations.
In 2003 Capital City Savings plans to expand its presence in the capital region with a number of new branches, including a new commercial banking facility, plus renovation and expansion of existing facilities.
"The financial industry is poised to change rapidly in the near future," said Mr. Buddle. "We are ready to take advantage of any opportunities that arise, but most of our energies are devoted to growing from within as this has proven so successful for us."
First quarter 2003 results
Capital City Savings' rate of growth slowed slightly during the first quarter of fiscal year 2003 relative to recent performance, but remained within expectations. By January 31, 2003:
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income was $4.3 million (before dividends and taxes)
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member equity reached $88 million
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membership climbed to more than 135,000
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