Mennonite Savings and Credit Union selects a new partner for Wealth
Management

KITCHENER, ON, May 17 /CNW/ - Mennonite Savings and Credit Union (Ontario) Ltd. (MSCU) announced today that they have selected the Qtrade Financial Group (Qtrade) as their new partner for comprehensive wealth management services, including mutual fund dealer and online brokerage services. The transition will be effective Friday, October 1, 2010.

"After a thorough review process, MSCU is pleased to announce the decision to move forward with this dynamic wealth management partnership with such a progressive organization as Qtrade", states MSCU chief executive officer, Brent Zorgdrager. "We are excited to enter into this relationship and are confident that the service and benefits Qtrade provides will build upon our commitment to serve our members as an innovative, growing and healthy credit union."

"Our partnership with Qtrade will provide members access to a broad portfolio of investment solutions including mutual fund dealer services, online brokerage services and discretionary money management services" mentioned Zorgdrager. "Partnering with Qtrade will allow MSCU to offer our members access to some of the best wealth management services and an expanded suite of investment solutions to address members' needs. The Meritas family of mutual funds will be readily available through Qtrade providing members the continued opportunity to align their values with these socially responsible investment options."

Joel Bernard, vice president, business development of the Qtrade Financial Group, stated "MSCU is an organization with a steadfast commitment to making a difference in the lives of its members by providing exemplary services. We are pleased that they have selected us as a partner and look forward to working with them to significantly enhance their wealth management offering."

Zorgdrager mentioned that MSCU has communicated directly with its members regarding their move to Qtrade, however clients who have questions are encouraged to contact their Mutual Funds Representative.

About Mennonite Savings and Credit Union

Founded in 1964, Mennonite Savings and Credit Union (MSCU) began with a radical vision for expanding their faith community's historical commitment to mutual aid. What started out as $22 in a cash box and a modest attempt to share financial resources among Waterloo County Mennonites has grown into a thriving, full-service Anabaptist financial cooperative.

MSCU is the 8th largest Credit Union in Ontario and serves a membership base of over 17,000 members through 8 branches and 5 sub-locations. Total assets under administration now exceed $750 million. MSCU is an important shareholder in the Qtrade Financial Group.

About the Qtrade Financial Group

Founded in 1999, the Qtrade Financial Group provides comprehensive wealth management services and solutions to 180 financial institutions and their customers across Canada. Qtrade is dedicated to providing its financial institution partners with a single source for market-leading wealth management products and services, including: online, full-service and institutional brokerage services, full-service mutual fund dealer services, insurance dealer services, portfolio management and discretionary money management services and proprietary managed money solutions. For more information visit www.qtrade.ca.

For further information: Mennonite Savings and Credit Union, Frank Chisholm, Interim Director of Marketing, [phone], [email protected] or Qtrade Financial Group, Pamela Patton, Vice President, Marketing & Partner Relations, [phone], [email protected]