44 - North Shore News — Sunday, September 10, 2000

_An Open Letter to Members & Employees of
Richmond Savings and Pacific Coast Savings

To Our Members & Employees:

Richmond Savings and Pacific Coast Savings — two of British Columbia's leading credit unions — have entered
-into a Commitment to Merge Agreement. we oe

s ‘This agreement is subject to regulatory approval, the development of a business plan demonstrating the benefits ve
- of the merger, and the support of at least two-thirds of voting members at each credit union. The Boards of
“ Directors. at both organizations believe this proposed merger represents a an excellent fit and opportunity for the
on members and employees of our two credit unions.

‘Both organizations are community-based and share similar core values. We invest locally, and provide money,
‘time and expertise to.the communities and members we serve. Working together, we will become one o
strongest credit unions in Canada and. be able to to provide a wide-range of: services s for the future.

- Bill I Wellbumn
Chair, fe aa