For 2003 News Archives,
click here
Capital
City Savings offers top socially responsible investment fund
December 8, 2004
(Edmonton, Alberta) - Capital City Savings can meet the needs of Alberta consumers seeking assurance that the companies they invest in provide consistently above average returns and support socially responsible practices
The Ethical® Canadian Dividend Fund, available through Capital City Savings, won the Imagine Socially Responsible Investment Fund Award at the Canadian Investment Awards gala held on December 3, 2004 in Toronto. This award recognizes the best performing socially responsible investment fund in Canada.
The Ethical Canadian Dividend Fund is managed by The Ethical Fund Company
TM
, who won the award on the strength of its screening and research, shareholder advocacy program, and support of community economic development through its association with the Canadian credit union system.
The Canadian Investment Awards Program is the only event to recognize leading individuals and firms illustrating an enduring commitment to excellence within the Canadian financial services industry. Senior leaders from the business and non-profit sector judged all Socially Responsible Award submissions.
The entire family of socially responsible Ethical Funds® are available at all branches of Capital City Savings. Capital City Savings offers a complete line of financial planning and investment services, including free planning services, registered products, online trading and full brokerage
back to top
Capital
City Savings gives $7.2 million reasons for doing business with credit union
December 7, 2004
(Edmonton, Alberta) – Capital City Savings paid its member-owners $7.2 million in dividends on December 1, 2004. The payment marks the fifteen consecutive year of dividend sharing, for a cumulative total of $61.0 million.
"Doing business with Capital City Savings and being a member-owner has significant, tangible benefits," stated Harry Buddle, Capital City Savings President and CEO. "Profit sharing, participation in governance through a member-elected Board, superior service and community support are some of the advantages enjoyed by our member-owners."
Capital City Savings paid members their share of the credit union's profits based on results of the financial year which ended on October 31, 2004. Capital City Savings paid members $4.2 million in Profit$hare dividends, $2.1 million in Investment Share dividends and $900,000 in Common Share dividends.
back to top
Capital
City Savings offers Canada's top online broker
November 23, 2004
(Edmonton, Alberta) - Capital City Savings' online brokerage service, Credential Direct®, jumped to first place in the latest Watchfire GómezPro's Online Scorecard. This follows the Globe and Mail's ranking of Credential Direct as one of the top three online brokers in Canada in its own September Online Broker Survey.
Credential Direct earned eight Scorecard honours, including:
-
#1 for Best Online Broker
-
#1 for Best Cost
-
#1 for Life-Goal Planners (representing approximately 75% of the online brokerage market)
-
#1 for One Stop Shoppers
-
#2 for Active Traders
-
#2 for Serious Investors
-
#2 for Relationship Services
-
#2 for Ease of Use
"This type of recognition gives consumers objective evidence that our investment services rank with the best," stated Ian Glassford, Capital City Savings Chief Financial Officer. "Capital City Savings has the ability to meet all of the increasingly sophisticated investment needs of members."
Credential Direct is an online brokerage service that provides credit union members and independent investors access to self-managed investment services. Launched in 2000, Credential Direct enables investors to access powerful online trading tools and investment research directly, or through Capital City Savings' Internet portal. Credential Direct is a division of Credential Securities Inc.
Brokerage services are offered through Credential Direct, a division of Credential Securities Inc., operating as a separate business unit. Credential Securities Inc. is a Member-CIPF. ®Credential and Credential Direct are registered marks owned by Credential Financial Inc, and are used under licence. Gómez is a registered trademark of Gómez Inc., used under license.
back to top
Capital
City Savings gives $4000 in 4-H scholarships
November 22, 2004
(Edmonton, Alberta) - Eight Alberta 4-H members received scholarships of $500 each from Capital City Savings and Credit Union Limited in November 2004.
Capital City Savings awarded $500 scholarships to:
-
Nicole Brittain, Falun
-
Jennylynn Gatzki, Westlock
-
Amy Krysa, Westlock
-
Tennille Kupsch, Barrhead
-
Chantal Martin, New Sarepta
-
Michelle Miller, Calmar
-
Duncan Pearson, Calmar
-
Kimberly Sekura, Rocky Rapids
The Capital City Savings and Credit Union Scholarships were awarded to 4-H members who have demonstrated outstanding 4-H achievement, community involvement and academic standing. The 4-H Scholarship Program is administered by the 4-H Foundation of Alberta and Alberta Agriculture, Food and Rural Development.
The education and development of youth is an ongoing priority for Capital City Savings. This year the credit union gave $10,000 to students through the Suzanne Mah Scholarship and Capital City Savings Bursary Program. Capital City Savings sponsored publication of a children's history book to mark Edmonton's Centennial, and donated a copy of the book to 500 elementary schools. Other youth projects supported by Capital City Savings include Leaders of Tomorrow Awards, Partners in Education, Student Artwork Calendar, Capital City Savings School Lunch Road Race and Outstanding Youth Philanthropist Award. The credit union also created the Capital City Savings Kids Foundation in 1997 to improve the quality of life for children in need.
Capital
City Savings presents Outstanding Youth Philanthropy Award
November 19, 2004
(Edmonton, Alberta) - Jen Ross was named the winner of the 2004 Capital City Savings Outstanding Youth Award at Edmonton Philanthropy Day celebrations on November 18, 2004.
Ms. Ross was nominated by the Stollery Children's Hospital Foundation. She is a high school student who is taking a leadership role in raising awareness of the importance of organ donation and encouraging Albertans to sign their donor cards. Since receiving a liver transplant that saved her life when she was just five years old, Ms. Ross has been raising organ donation awareness. For the past year she has been the Foresters Champion Child for the Stollery Children's Hospital Foundation, sharing her experience at countless Foundation events, while continuing to volunteer with other organizations in her community.
The Association of Fundraising Professionals, Edmonton Chapter, sponsors the Philanthropy Day Awards to honour those who exemplify commitment, dedication and talent towards helping society. The Capital City Savings Outstanding Youth Award is presented to the youth or youth group who has engaged in acts of charity by giving of their time and talent to better their community, and by example encourage other youth to engage in philanthropic activities.
back to top
Capital
City Savings celebrates student art and Alberta centennial
For release at 12:00 noon November 16, 2004
(Edmonton, Alberta) - Capital City Savings unveiled the credit union's 15th annual Capital City Savings Student Artwork Calendar, which celebrates Alberta's 100th anniversary with student illustrations of "My Alberta, My Home" and is endorsed as an official Alberta centennial project.
Capital City Savings hosted a luncheon for the student artists, their parents and other dignitaries and presented each student with a framed print of their artwork. Their drawings will appear in 35,000 calendars distributed free of charge at all Capital City Savings branches to mark the province's centennial.
The works of the featured students were chosen from over 3,000 submissions. The Honourable Gene Zwozdesky, Minister of Community Development, representatives from the Edmonton Art Gallery, and a team of Capital City Savings staff, management and Directors had the difficult job of selecting fourteen drawings for the calendar.
During the ceremony Capital City Savings presented cheques totaling $10,000 to representatives of participating schools. Over the past fifteen years, Capital City Savings has donated more than $94,000 through this program to support art programs and to enrich the educational experience of students.
The education and development of youth is an ongoing priority for Capital City Savings. This year the credit union gave $10,000 to students through the Suzanne Mah Scholarship and Capital City Savings Bursary Program, and $3,500 in scholarships to 4-H members. Capital City Savings sponsored publication of a children's history book to mark Edmonton's Centennial, and donated a copy of the book to 500 elementary schools. Other youth projects supported by Capital City Savings include Leaders of Tomorrow Awards, Partners in Education, Student Artwork Calendar, Capital City Savings School Lunch Road Race and Outstanding Youth Philanthropist Award. The credit union also created the Capital City Savings Kids Foundation in 1997 to improve the quality of life for children in need.
back to top
Satisfied
Capital City Savings members celebrate International Credit Union Day October 21
October 20, 2004
A member satisfaction rating of 94% at Capital City Savings and Credit Union Limited shows one reason why more and more people are joining Canadian credit unions and celebrating International Credit Union Day on October 21, 2004.
"People who compare financial institutions are always surprised by how innovative and competitive credit unions are," explained Harry Buddle, President and CEO of Capital City Savings. "Our member satisfaction score speaks for itself, and the starting point for that score lies in our values as a credit union – member ownership, service, and integrity.
Credit unions throughout the world give people the opportunity to belong to a financial institution guided by democratic principles, local ownership and profit sharing. International Credit Union Day, established in 1948, celebrates the history, tradition and spirit of the international credit union movement annually on the third Thursday in October.
Over 40,000 credit unions in 84 countries serve 123 million members, including 4.6 million in Canada. Alberta is home to 50 independent credit unions, which have over 200 branches serving more than 600,000 members.
back to top
Capital
City Savings awards $10,000 to student scholars
For release 5:30 p.m. October 19, 2004
(Edmonton, Alberta) - Capital City Savings and Credit Union Limited presented $10,000 in scholarship and bursary awards to 25 students through the Suzanne Mah Scholarship and Capital City Savings Bursary Fund.
Sheehan Chowdhury, a graduate of McNally High School in Edmonton, won the $2,000 Suzanne Mah Scholarship. Scholarship award finalists Spencer Idenouye and Jessica Leung received $750 each. Other recipients won bursaries ranging from $250 to $500. Capital City Savings presents awards annually to graduating high school students who show leadership in both their academic and volunteer pursuits and who have been accepted into an Alberta post-secondary institution.
Capital City Savings established the Suzanne Mah Scholarship and Capital City Savings Bursary Fund in 1997 to honour the memory of Suzanne Mah, daughter of Vic Mah, Capital City Savings' first Chair of the Board of Directors. The scholarship was created to recognize Suzanne's leadership to eliminate discrimination and prejudice, and exemplary work in her law practice.
The education and development of youth is an ongoing priority for Capital City Savings. Earlier in this financial year the credit union gave $3,500 in scholarships to 4-H members who demonstrated outstanding 4-H achievement, community involvement and academic standing. Capital City Savings sponsored publication of a children's history book to mark Edmonton's Centennial, and donated a copy of the book to 500 elementary schools. Other youth projects supported by Capital City Savings include Leaders of Tomorrow Awards, Partners in Education, Student Artwork Calendar, Capital City Savings School Lunch Road Race and Outstanding Youth Philanthropist Award. The credit union also created the Capital City Savings Kids Foundation in 1997 to improve the quality of life for children in need.
Wildrose
Credit Union members approve amalgamation
October 6, 2004
(Edmonton, Alberta) – At a Special Member Meeting of Wildrose Credit Union held on the evening of October 5, 2004, 83% of members attending approved a resolution to amalgamate with Capital City Savings and Yellowhead Credit Union.
"Wildrose Credit Union is very pleased to join Capital City Savings and Yellowhead Credit Union to create a dynamic new financial institution for Albertans," said Ken McCready, President of the Wildrose Board of Directors. "Our members are seeking expanded services and locations so this amalgamation will fulfil their financial needs."
Wildrose Credit Union, Yellowhead Credit Union and Capital City Savings will formally amalgamate on November 1, 2004. Wildrose will join a credit union formed by the amalgamation of Capital City Savings and Yellowhead Credit Union that was approved by members earlier this year and effective the same date.
Initially the new credit union will operate under the name of Capital City Savings with a Board composed of members from each credit union. The proposed credit union will be the largest in Alberta, with $2.2 billion in assets and 162,000 members. Approximately 800 employees will provide financial services through a network of 39 locations serving 20 Alberta communities.
back to top
Schools
to receive children's history book from Capital City Savings
For release September 21, 2004
(Edmonton, Alberta) - Capital City Savings announced plans to mark Edmonton's 100th birthday by donating copies of the city's newest history, Kidmonton: True Stories of River City Kids, to all schools within the credit union's trade area.
Kidmonton is part of the Edmonton: A City Called Home project, the education component for the city's centennial in 2004. Capital City Savings sponsored the history and will help promote the book in branches and on its website.
"Credit unions have served the people of Edmonton for almost 70 years, providing them with the financial services and community support needed to build a great city," stated Capital City Savings President and CEO Harry Buddle. "Capital City Savings is proud to give youth of the past a voice in this celebration and to help get their stories into the hands of the students who are our future."
Kidmonton: True Stories of River City Kids is an illustrated book for children that tells the city's history entirely from the point of view of real children who lived in the Edmonton area over time. Using the techniques of fiction to bring true stories to life, the book embraces all of Edmonton's children: aboriginal, immigrant, inner-city and suburban, challenged and privileged, born in Edmonton and recently arrived.
The book was authored by award winning writer Linda Goyette for eight- and nine-year-olds who often encounter Alberta's history for the first time in Grade Four. A new website,
www.kidmonton.ca
with interactive games and puzzles, scavenger hunts, and stories is being co-hosted by the Edmonton Public Library and the University of Alberta Libraries for River City kids, their parents, and teachers.
Capital City Savings has purchased 500 copies of Kidmonton for distribution to schools in north and central Alberta during the next month.
The education and development of youth is an ongoing priority for Capital City Savings. Each year the credit union gives approximately $15,000 to students through the Suzanne Mah Scholarship and Capital City Savings Bursary Program, and 4-H scholarship awards. Other youth projects supported by Capital City Savings include School at the Legislature, Partners in Education, Capital City Savings School Lunch Road Race, Youth Artist Award and Leaders of Tomorrow Awards. The credit union also created the Capital City Savings Kids Foundation in 1997 to improve quality of life for children in need.
back to top
September 15, 2004
(Edmonton, Alberta) - A new branch in Mundare and preparations for amalgamation with other credit unions marked the third quarter for Capital City Savings, in which the credit union reported net income of $4.9 million (before Profit$hare® dividends and income taxes).
Capital City Savings opened a branch in Mundare on July 27 at the invitation of local businesses and citizens, after a major bank announced their intention to exit the community in September. The Mundare branch has three staff in a temporary location, with plans to move into a permanent facility, including ATM, in the fall.
Capital City Savings and Yellowhead Credit Union previously announced their intention to amalgamate on November 1, 2004. The two organizations have devoted significant resources to communications, human resources, and merging computer systems and product lines.
The Board of Wildrose Credit Union has also passed a resolution to join the amalgamation on November 1, pending approval by their membership. The new credit union will be the largest in Alberta and the fourth largest in Canada, with $2.2 billion in assets and 162,000 members. Approximately 800 employees will provide members with financial services through a network of 39 locations serving 20 central and northern Alberta communities.
"Capital City Savings continues to grow and diversify while achieving stable earnings," stated President and CEO Harry Buddle. "Our success shows that Albertans are embracing Capital City Savings and the credit union system as an attractive alternative to the offerings of the banks in our trade area, and they recognize the value of our full range of products and competitive pricing."
At July 31, 2004, Capital City Savings' balance sheet showed:
assets $1.9 billion
member loans $1.7 billion
member deposits $1.8 billion
income for the quarter $4.9 million (before Profit$hare® dividends and income taxes)
member equity $119.9 million
membership 141,000
Capital City Savings and Credit Union Limited offers a complete line of banking services and products, including accounts, lending, investments, trust and insurance. The credit union actively supports community activities where members and employees live and work. For more information, call 496-2000, toll free 1-877-496-2151.
back to top
Wildrose
Credit Union and Capital City Savings announce intent to amalgamate
September 3, 2004
Ken McCready, President of the Board of Directors of Wildrose Credit Union, Peter Galloway, Chairman of the Board of Directors of Capital City Savings, and Bill Purdy, President of the Board of Directors of Yellowhead Credit Union, announced that their Boards have passed resolutions recommending an amalgamation of the three credit unions.
The terms of the amalgamation agreement will be presented to the members of Wildrose Credit Union at a Special Membership Meeting on October 5, 2004. If approved by the members, Wildrose Credit Union, Yellowhead Credit Union and Capital City Savings will formally amalgamate on November 1, 2004. Wildrose will join a credit union formed by the amalgamation of Capital City Savings and Yellowhead Credit Union that was approved by members earlier this year and effective the same date.
"We are excited to be able to propose this enhancement of services to our members that will provide them with locations to do their banking regardless of where they live in the Edmonton region," said Mr. McCready. "This was one of the desires expressed in a recent member survey undertaken by our credit union. The extended hours of the call center will also be well received by our membership. We are confident that the excellent service that we are accustomed to supplying our members will be evident and enhanced through this amalgamation."
"We welcome the members and employees of Wildrose Credit Union to our Capital City Savings Credit Union family," said Mr. Galloway and Mr. Purdy in a joint statement. "Together, we form a stronger credit union that will benefit our members, our employees and our communities."
The new credit union will operate initially under the name of Capital City Savings with a blended Board of Directors. All current Wildrose, Yellowhead and Capital City Savings employees will remain part of the amalgamated credit union. The new credit union will be the largest in Alberta and the fourth largest in Canada, with $2.2 billion in assets and 162,000 members. Approximately 800 employees will provide members with financial services through a network of 39 locations serving 20 central and northern Alberta communities.
"It's a win-win for members and staff," stated Dennis Horrigan, General Manager of Wildrose Credit Union. "Our members will receive the best in branch location convenience and service levels while the staff can take advantage of improved career opportunities and superior training."
Significant benefits expected from the proposed amalgamation, include:
-
Continued banking services in communities and neighbourhoods assured by a stronger credit union
-
Increased capital puts the credit union in better position to compete in the market
-
Expanded branch network for members stretching from Fort McMurray to Leduc and Jasper to Mundare
-
Greater learning and promotional opportunities for employees
-
Shared resources, including a dedicated call centre, state of the art information technology centre and employee learning centre
"With these amalgamations we are building a dynamic financial institution that is member-owned and committed to providing Albertans with a financial service alternative," explained Harry Buddle, President and CEO of Capital City Savings.
Contacts:
Ken McCready
President, Board of Directors
Wildrose Credit Union Ltd.
Tel. (780) 495-5525
Peter Galloway
Chairman, Board of Directors
Capital City Savings and Credit Union Limited
Tel. (780) 998-3036 or 499-5033
Dennis Horrigan
General Manager
Wildrose Credit Union Ltd.
Tel. (780) 415-4220
Harry Buddle
President & Chief Executive Officer
Capital City Savings and Credit Union Limited
Tel. (780) 496-2002
Bill Purdy
President, Board of Directors
Yellowhead Credit Union Ltd
Tel. (780) 892-2125
Doug Forsyth
General Manager
Yellowhead Credit Union Ltd.
Tel. (780) 963-5732 ext 1
For more information or media interviews, contact:
Michael Dickinson
Communications Manager
Capital City Savings
Tel: (780) 496-2328
Cell: 910-8712
Fax: (780) 465-5108
Email:
[email protected]
back to top
Capital
City Savings committed to neighbourhood banking
July 8, 2004
(Edmonton, Alberta) - Capital City Savings advanced its strategy of neighbourhood banking with announcement of plans for launch of a marketing strategy designed to take advantage of bank closures in south Edmonton.
"While some of the banks are closing branches and centralizing in big box locations, we continue to serve the communities and neighbourhoods where our members live and where people need financial services," explained Harry Buddle, President and CEO of Capital City Savings.
CIBC recently announced its intention to close five south Edmonton locations in the fall. In media reports of town hall meetings organized by CIBC, customers expressed frustration at having to travel further to do their banking. CIBC customers claimed access to the new big box location in Edmonton will be more limited, with restricted bus service and parking.
A marketing campaign by Capital City Savings will target bank customers in the Hazeldean, Lendrum, Lansdowne, and Whitemud Crossing areas. With branches at Bonnie Doon, Southgate and Terwillegar Heights, Capital City Savings has neighbourhood locations to serve the southwestern part of the city. All of these branches offer Saturday service, 24-hour service ATM machines and the credit union's comprehensive suite of financial services.
Capital City Savings will offer six months of free service charges to new and existing members who transfer accounts from other financial institutions and $500 term deposit draws on September 1 and October 2, 2004.
Capital City Savings and Credit Union Limited is the largest credit union in Alberta, offering a complete line of banking services and products, including accounts, lending, investments, trust and insurance. In November 2004 Capital City Savings will amalgamate with Yellowhead Credit Union.
The new member-owned regional financial institution will provide financial services through a network of 35 locations serving 19 Alberta communities. The credit union actively supports community activities where members and employees live and work. For more information, call 496-2000, toll free 1-877-496-2151.
Capital
City Savings
posts
steady growth during second quarter
June 7, 2004
(Edmonton, Alberta) -Capital City Savings and Credit Union Limited reported net income of $4.2 million (before Profit$hare® dividends and income taxes) and a 10% growth in assets during the second quarter of 2004.
"We continue to achieve consistent growth and earnings," said Capital City Savings President and CEO Harry Buddle. "Our commercial banking operations in particular are beginning to show greater returns."
At April 30, 2004, Capital City Savings:
-
Assets $1.9 billion
-
member loans $1.6 billion
-
member deposits $1.7 billion
-
income for the quarter $4.2 million (before Profit$hare® dividends and income taxes)
-
member equity $116.1 million
-
membership 141,000
Earnings were 4.5% lower this quarter compared to the same period last year, reflecting low interest rates and the continuing costs of investment in new service facilities. Capital City Savings has opened three new facilities in this financial year, including a south Edmonton Business Banking Centre and two new branches in Sherwood Park and Terwillegar Heights. Expansion is underway at the Fort McMurray branch and renovations to the Jasper Avenue location have allowed for a retail branch next to the existing Business Banking Centre.
"While other financial institutions are closing smaller branches and centralizing in big box locations, we continue to renovate and serve the communities where our members live," explained Mr. Buddle. "This reflects our dedication to member service, which is how we have grown our credit union and how we will continue to do business."
The management teams of Capital City Savings and Yellowhead Credit Union are currently working to bring the credit unions together on the official amalgamation date of November 1, 2004. The new credit union will have well over $2 billion in assets, 35 locations serving 19 Alberta communities, 155,000 members and 700 employees.
Capital
City Savings
Kids
Foundation sets fundraising record for Stollery Children's Hospital Foundation
June 5, 2004
(Edmonton, Alberta) - The Capital City Savings Kids Foundation donated $28,000 to the Stollery Children's Hospital Foundation today during the annual Children's Miracle Network Telethon, twice the amount contributed last year.
"I want to thank all the employees of Capital City Savings for their hard work and commitment to this year's campaign," said Kid's Foundation Chair Karen Anderson. "We were thrilled to be able to double last year's donation and set a new fundraising record due to the generosity of our members and strong support of our staff to improving the quality of life for children."
The employees of Capital City Savings raised the funds for the Capital City Savings Kids Foundation by selling Kids Foundation bears and sunbursts to members, and by purchasing their own Kids Foundation T-shirts and paying to wear them on 'jean days' during April and May. All proceeds from these efforts were donated by the Capital City Savings Kids Foundation to the Stollery Children's Hospital Foundation.
The Capital City Savings Kids Foundation was created in 1996 to raise funds for the purpose of improving the quality of life for children today. Since then, the Kid's Foundation has donated almost $200,000 to community projects such as school breakfast programs, literacy programs, family support programs and social organizations focusing on children.
Other corporate supporters of the fundraising campaign were Quality Colour Press, Creative Concepts and Mayer's Packaging.
back to top
Capital
City Savings
Terwillegar
Heights Branch announces community donations
June 2, 2004
(Edmonton, Alberta) -Capital City Savings and Credit Union Limited announced the community groups who will receive special grants in celebration of the opening of the Capital City Savings Terwillegar Heights branch in southwest Edmonton.
Capital City Savings will provide cash donations for the following community projects:
-
Learn to ski program for low income children, through the Snow Valley Ski Club
-
Volunteer recognition event, organized by the Riverbend Community League in October 2004
-
Kaskitayo Youth Park, supported by the Southwest Area Council of Community Leagues
-
Haddow Park and Playground, through The Ridge Community League
In February 2004 Capital City Savings invited funding applications from all not-for-profit organizations operating near the new Terwillegar Heights branch at 2315 Rabbit Hill Road. Branch Manager Myrne Quaale and a team of Capital City Savings employees evaluated the ten applications received using the community investment priorities of Capital City Savings as a guideline.
In 2003 Capital City Savings provided $500,000 in support to almost 500 different not-for-profit organizations. Capital City Savings is an Imagine Caring Company, as designated by the Canadian Centre for Philanthropy, and was named Outstanding Corporation at the 2002 Edmonton Philanthropy Day Awards.
back to top
April 14, 2004
(Edmonton, Alberta) - Capital City Savings celebrated the official opening of its new Terwillegar Heights branch in southwest Edmonton, the credit union's 29th service location.
"Terwillegar Heights launches us into new territory in terms of member service," stated Capital City Savings President and CEO Harry Buddle. "Most people continue to prefer the security and convenience of a physical facility and we are responding to that desire with a branch network equal to the major banks in the markets we are in."
The new Terwillegar Heights branch, located at 2315 Rabbit Hill Road, occupies 6,600 square feet and currently employs seven staff. The new location offers convenient access for the residents of southwest Edmonton, plenty of parking and a drive-thru ATM. A Feng Shui consultant was employed during the initial planning stages, resulting in the addition of an indoor fountain to promote harmony.
The Terwillegar Heights branch is the latest component of a major facilities expansion undertaken by Capital City Savings to better fulfill its service pledge and strengthen market presence. In addition to expansion and renovation of existing branches, Capital City Savings opened a new Investment Advisory, Insurance and Trust Services office in October 2003 and a southside Business Banking Centre in November 2003. A new branch in Sherwood Park opened in January 2004. Construction has begun on a major addition to the Fort McMurray branch.
"We are building and expanding according to a strategic plan that will provide the most benefit to our members," explained Mr. Buddle. "While other financial institutions are closing branches and consolidating in central locations, we continue to deliver banking where it is needed."
Capital City Savings currently employs more than 600 employees in 29 locations. Fifteen full service branches are in the greater Edmonton region, ten branches are located in surrounding communities and one is in Fort McMurray. Capital City Savings also operates an Investment Advisory/Insurance/Trust Services office and two dedicated Business Banking Centres (central and south Edmonton).
November 1, 2004 Capital City Savings will amalgamate with Yellowhead Credit Union. Approximately 700 employees of the new credit union will provide members with financial services through a network of 35 locations serving 19 Alberta locations.
back to top
Capital
City Savings
offers
no down payment mortgage
March 22, 2004
(Edmonton, Alberta) – Prospective home buyers with little cash but sound earning potential can take advantage of today's low interest rates with the Home Start™, No Down Payment Mortgage offered by Capital City Savings and Credit Union Limited.
Home Start™ enables qualified consumers to purchase a home without the normal 5% down payment. Under this program, Capital City Savings provides the 5% down payment as a cashback on new mortgages for single family homes.
"Home Start™ is aimed at young adults who have just finished schooling, an apprenticeship or other training and don't have the cash for a down payment," explained Gail Stepanik-Keber, Capital City Savings Vice President of Marketing. "They may not have much money now, but their cash flow is good and their earning potential is high."
Alberta Learning figures show that almost 15,000 people graduated with degrees from Alberta universities in 2001, and over 5,200 people earned trade certificates in 2002 (
www.learning.gov.ab.ca
). Home Start™ provides people who are just establishing their careers and families an opportunity to own a home sooner.
Today's low interest rates have generated a great deal of interest in home ownership, as evidenced by housing starts and real estate sales figures. Home Start™ enables consumers to take advantage of the excellent rates now available, even if they do not have the normal down payment.
For more information about Home Start™ No Down Payment Mortgage, visit a Capital City Savings branch, or call 496-2000, toll free 1-877-496-2151, or visit
www.capitalcitysavings.ca
.
back to top
March 22, 2004
(Edmonton, Alberta) – Recently the media carried reports about criminals obtaining access to personal information about 1,400 people through Equifax credit reports. We are not aware of any Capital City Savings members being affected. Equifax has contacted the affected individuals and taken steps to mitigate against unauthorized use of this information.
At Capital City Savings, respect for member privacy and protection of personal information have always been foremost among our fundamental principles of business. Capital City Savings is committed to safeguarding the personal information of its members, employees and other individuals.
As part of our commitment to members, we implemented a new Privacy Pledge in 2002, which outlines the principles we will follow in collecting, using, disclosing and safeguarding your personal information. Our Privacy Pledge ensures that we are fully compliant with all provincial and federal legislation governing the use of personal information.
Capital City Savings employs a variety of procedures to prevent unauthorized access to members' personal information. These include:
-
Extensive computer security procedures to combat viruses and other illegitimate intrusions
-
Contracts with suppliers and other third parties to ensure they are following best practices and meeting our standards for data protection
-
All employees sign member confidentiality agreements as a condition of employment
-
Member identification procedures such as asking for identification and signature verification
-
Physical measures such as clean desks and locked cabinets
Members also play an important part in safeguarding their personal information by protecting PINs, checking financial records carefully and following safe Internet banking practices. Working together, we can protect member personal information.
back to top
Capital
City Savings opens new
Sherwood
Park location
March 17, 2004
(Edmonton, Alberta) – Dignitaries from the county, province and federal governments joined members and employees of Capital City Savings and Credit Union Limited to celebrate the opening of the new Capital City Savings Sherwood Park branch on March 17, 2004.
"We needed to expand our Sherwood Park operations in response to demand," explained Capital City Savings CEO Harry Buddle. "Our new facilities will enable us to better serve existing members, and to demonstrate our capabilities to potential members."
Mayor Vern Harwell, Honourable Iris Evans, MLA for Sherwood Park, and Member of Parliament Ken Epp joined Mr. Buddle in cutting the opening ribbon. The new Sherwood Park branch, located at 800 Bethel Drive and Baseline Road, will occupy 7400 square feet, an increase of 59% over the older building. The new location offers improved access, extra parking, three ATMs, additional private offices and comfortable, attractive design features that reflect Capital City Savings' brand standards.
The Sherwood Park branch is the latest component of a major facilities expansion undertaken by Capital City Savings to better fulfill its service pledge and strengthen market presence. In addition to expansion and renovation of existing branches, Capital City Savings opened a new Investment Advisory, Insurance and Trust Services office in October and a southside Business Banking Centre in November. A new branch in southwest Edmonton also opened March 16. Construction has begun on a major addition to the Fort McMurray branch.
"We offer our members a branch network equal to the major banks in the Alberta Capital Region," stated Mr. Buddle. "This is part of our strategy to increase our retail and commercial market share by offering our members easy access to modern, attractive branches."
Residents of Strathcona County are invited to help Capital City Savings celebrate their opening by picking up a Passport to Win between March 20 and April 10. Members are eligible to win a $2000 term deposit from Capital City Savings, plus 30 other prizes from local businesses.
back to top
Capital
City Savings approves
amalgamation
with Yellowhead Credit Union
March 11, 2004
(Edmonton, Alberta) – A resolution to amalgamate with Yellowhead Credit Union Ltd received the enthusiastic support of members of Capital City Savings and Credit Union Limited at the Annual General Meeting on March 10, 2004. 99.7% of the Capital City Savings members in attendance voted in favour of amalgamation.
In November 2003 the Boards of Directors of Yellowhead Credit Union and Capital City Savings signed a Memorandum of Understanding recommending amalgamation of the two credit unions to their members. Members of Yellowhead Credit Union voted 96% in favour of the recommendation at a Special Membership Meeting on January 21, 2004.
"The amalgamation of Yellowhead Credit Union and Capital City Savings will create a strong regional credit union that will benefit our members, our employees and our communities," stated Peter Galloway, Chairman of the Capital City Savings Board of Directors. "We are very pleased to join forces with a successful organization like Yellowhead that shares our values of personal service to members, democratic principles, community support and employee satisfaction."
Yellowhead Credit Union and Capital City Savings will formally amalgamate by November 1, 2004, initially under the name of Capital City Savings with a blended Board of Directors. The new credit union will be the largest in Alberta and the fifth largest in Canada, with $2 billion in assets and 155,000 members. Approximately 700 employees will provide members with financial services through a network of 35 locations serving 19 Alberta locations.
back to top
Expanded
service network focal point for Capital City Savings in 2003
March 10, 2004
(Edmonton, Alberta) – Capital City Savings and Credit Union Limited celebrates a bigger and better branch network, increased earnings and outstanding member satisfaction at their Annual General Meeting on March 10, 2004.
"We continue to grow by providing the financial services that people want, in a manner they appreciate," says Capital City Savings President and CEO Harry Buddle of the credit union's 2003 results. "Despite a very competitive and crowded marketplace, membership has grown 32% since 1999 and our member satisfaction reached 94% this year."
At the Annual General Meeting Capital City Savings will announce key performance figures for the fiscal year ended October 31, 2003:
-
earnings climbed to $18.5 million (before Profit$hare dividends and taxes)
-
assets grew to $1.8 billion
-
deposits increased to $1.7 billion
-
loans improved to $1.6 billion
-
member equity reached $110.3 million
-
membership was up to 139,000.
In 2003 Capital City Savings continued an aggressive facilities building program, renovating six branches and constructing four new locations. "We offer our members a branch network equal to the major banks in the Alberta Capital Region," states Mr. Buddle. "This is part of our strategy to increase our retail and commercial market share by offering our members easy access to modern, attractive branches."
Peter Galloway, Chairman of the Capital City Savings Board of Directors, attributes the credit union's continued success to its focus on members, adherence to cooperative principles and dedicated employees who embody the credit union ideals of service and respect. "Sixty-five years ago our grandparents and parents decided there was a better way to bank, and they created the Alberta credit union system," Mr. Galloway described. "Capital City Savings was born of that movement and continues to prove that credit unions offer a better way."
At the Annual General Meeting members of Capital City Savings will vote on a proposed amalgamation with Yellowhead Credit Union Ltd. Results of member voting to fill four vacancies on the Board of Directors will also be announced.
back to top
Capital
City Savings offers
one
of Canada's top online brokers
January 26, 2004
(Edmonton, Alberta) – Capital City Savings' online brokerage service partner, Credential Direct, jumped to second place in Gomez Canada's latest ranking of Canadian direct investing firms, confirming the quality of the credit union's investment services.
Credential Direct earned 8 Gomez Canada honours, receiving a #1 ranking in both the Customer Confidence and Serious Investor categories and obtaining a #2 ranking overall. Credential Direct, owned by Canada's credit union system, ranked 10th overall on the previous Gomez Scorecard.
"This type of recognition gives consumers objective evidence that our investment services rank with the best," stated Ian Glassford, Capital City Savings Vice President of Treasury and Wealth Management. "Capital City Savings has the ability to meet all of the increasingly sophisticated investment needs of members."
Gomez Canada, a leading financial services consulting firm, released its Scorecard rankings for 13 Canadian online brokerages, which assessed over 250 criteria and polled more than 4,000 investors. The Scorecard helps investors determine which online brokerages have the products and services that best meet their needs.
Capital City Savings, through Credential Direct, now offers enhancements that include: integrated Web-based options trading and short selling; fundamental research from Desjardins Securities Inc.; expanded financial software and content from Stockgroup (including fundamental data from Bell Globemedia Interactive and Zacks); technical events; screener and alerts from Recognia; and enhanced mutual funds screening using Morningstar Data.
back to top
Capital
City Savings named one of Canada's 50
Best
Managed Companies
January 12, 2004
(Edmonton, Alberta) – Capital City Savings and Credit Union Limited earned distinction as one of Canada's 50 Best Managed Companies, one of the national business community's most prestigious awards.
Established in 1993, Canada's 50 Best Managed Companies Program recognizes companies that have demonstrated exceptional ability and aptitude in all areas of management and best business practices. The program is sponsored by Deloitte & Touche Chartered Accountants, CIBC, National Post and Queen's University School of Business.
"We are very honoured to be recognized in the same company as some of Canada's leading organizations," said Capital City Savings CEO Harry Buddle. "I want to acknowledge the efforts of our employees, our management team and our Directors on behalf of our members. We have always believed in putting members first, and this award validates our values and practices."
To be recognized as one of the 50 Best, companies must complete a comprehensive submission, and an extensive, in-depth interview process which is evaluated by an independent judging panel to assess and examine management practices. The panel evaluates how companies address various business challenges such as new technologies, globalization, brand, leadership, leveraging and developing core competencies and designing the right organizations and systems to facilitate growth and the new generation of people entering the labour market.
Headquartered in Edmonton, Capital City Savings serves 138,000 members and employs 650 staff. With $1.8 billion in assets, Capital City Savings is the largest credit union in Alberta and the fourth largest in Canada. The credit union's service-driven philosophy and core values have fuelled 16 successive years of innovation and growth, providing benefits for members, employees, and their communities. In November 2003 Capital City Savings announced a proposal to amalgamate with Yellowhead Credit Union.
back to top
Capital
City Savings
pays
members $6.3 million in dividends
(Edmonton, Alberta) – Capital City Savings paid its member-owners $6.3 million in dividends at the close of the 2003 financial year, up from $5.2 million last year. Since 1990 Capital City Savings has paid $53.9 million in dividends to members.
"We owe our success to our members and we believe in sharing our success with them," explained Capital City Savings CEO Harry Buddle. "Capital City Savings is owned by its members, who receive a share of the credit union's profits based on our performance during the year and the amount of business they do with us."
Capital City Savings paid members their share of the credit union's profits, in the form of dividends, directly into their accounts. Capital City Savings paid members $3.8 million in Profit$hare dividends, $1.6 million in Investment Share dividends and $815,000 in Common Share dividends.
"The $53.9 million we have shared with members since 1990 is testimony to the success of Capital City Savings and our commitment to the financial success of our members," stated Mr. Buddle.
Employees of Capital City Savings also benefited from the credit union's belief in shared success, earning over $1 million in performance bonuses in 2003. Approximately 600 employees received incentive bonuses, based on achievement of service benchmarks in areas such as member satisfaction, loan and deposit growth.
back to top
|
