Prospera Credit Union announces 2009 financial results, new board members and
a new chair

ABBOTSFORD, BC, April 27 /CNW/ - At its Annual General Meeting, held in Abbotsford, B.C. on Thursday, April 15, 2010, Prospera Credit Union (Prospera) released financial results for 2009, introduced two new board members, and selected a new board chair.

While the global financial sector struggled in 2009, Prospera Credit Union held member value constant, registering a net income of $6.6 million in 2009, consistent with 2008. Prospera Credit Union also achieved an 85% satisfaction rating in its latest annual member survey, conducted in September 2009.

"Our positive performance is a direct result of speed, flexibility, and our extremely resilient employees," says Bruce Howell, Prospera Credit Union president and CEO. "In response to the deepening financial crisis, Prospera reconsidered and then rewrote our 2009 financial strategy and we executed our plan through all the economic turmoil occurring globally. In spite of everything we have been through, I am extremely proud that our net income stayed consistent and we achieved top marks, in terms of levels of service."

At a time when some financial institutions are losing the credit union identifier, Howell goes on to say, "We have refocused on our roots as a strong neighbourhood credit union with full weight and emphasis on our communities, our members, and our employees."

At the AGM, two new board members, Tracy Gray and Myles Bruckal, were introduced. They will strengthen Prospera's existing nine person board. Ms. Gray and Mr. Bruckal, both of whom have previously served on the board, are business owners in Kelowna, B.C. and long time members of Prospera Credit Union.

The board also voted to appoint Angela Kaiser to the position of chair. Ms. Kaiser most recently served as Prospera Credit Union's vice chair and has been a board member since 2001.

About Prospera Credit Union and Insurance Services

Drawing on its more than 60-year history, Prospera Credit Union is now one of the largest credit unions nationally and the fifth largest in B.C. With current assets of $2.3 billion under administration, Prospera's offices are located from Vancouver to Kelowna, and include sixteen branches, seven insurance offices, six commercial centres and a contact centre. Prospera is a community rooted organization that believes in making a meaningful difference in the financial well-being of their members.

For further information: To schedule an interview with Bruce Howell or for more information please contact: Sundeep Sandhu, Marketing Department, Prospera Credit Union/Insurance, Tel: [phone], Cell: [phone], Email: [email protected]