34 - Sunday, November 1, 1987 - North Shore News

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EQUITY

Equity Shares. Equity Investment Funds. Equity Home Loans. The buzzword is “Equity” and with that concept becoming more popular and integral in the financial marketplace to- day, one has to wonder how we ever got along ‘without it.

The fact is, North Shore Credit Union introduced Equity Shares to its members four years ago in response to legislative changes made to the Statutory Requirement. These changes increased the amount to be transferred annually to Credit Union Reserves — from 3% of loans to 5%, Forced to find a new source of work- ing capital above the amount generated traditionally through earn- ings, NSCU implemented the EQUI- TY SHARE program.

And it has worked well toa Since

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’ Ministry of Lands, Parks and Hous- .

Two and a half years ago, Rick Staehli was encouraged to run for North Shore Credit Union's Board of Directors with the assurance that the commitment would only require eight hours of his time per month. Not that he needed excessive encouragement anyway, he had been an active Credit Union member since 1974. “But now it's 40 to 45 hours per month/ allows Rick with a waggish smile.

The energetic 38-year-old was born in Switzerland and moved to British Columbia as a young boy back in 1951 with his family. He received his B.A. in Planning from Simon Fraser

University where he specialized in. and resource

transportation management. - .

Rick worked -as manager of Technical Services for the provincial

ing for 10 years and js currently Direc- tor of Technical Services for the BC.

Housing Management Commission.

BCHMC is responsible for all social housing in the province and reports to both the federal and provincial govern-

ments as funding sources for the com- mission. The director of Technical Ser- vices oversees the development and maintenance of the entire plant — over 8,000 units in addition to all new developments.

A man of many talents and bot- tornless initiative, Rick is also a direc- tor of a major bakery, a directorlowner of a transportation company as well as a co-owner of a construction com- pany. Looking back on his decision to run for NSCU's Board, he remembers that “Credit Unions were going through hard times with the competi-

‘tion and I felt { could help” Then he

adds: “Besides, they've been good to

me. Now I'm reciprocating? . : Approaching the end of-his first. -

three-year term, he intends to seek re-

‘ election and is currently active on the

Board's Executive, Planning and Human Resources committees, ‘I feel we have one of the strongest combina- tions of Board and Management in the history of this outfit? says Rick, “and that’s what we need at this time — strong leadership with a good mix?

SHARES: All the rage!

its inception in 1983, NSCU’s quarter- ly equity dividends have delivered an average 10.8% return. The annual or compounded yield for 1987 thus far is 8.25%

But what fs an equity share? How does it work?

A Credit Union equity share represents your ownership and your limited liability to the Credit Union. Unlike your deposits, they are not guaranteed by BC's Credit Union Deposit Insurance Corporation. They are the shares upon which the Credit Union will be paying dividends in the future.

In fact, investment in equity shares helps the Credit Union offer com- petitive deposit and loan interest rates, maximizes growth potential and pro- vides more capital for the develop-

BOARD

ment of new and innovative services for its members, As the Credit Union prospers, it passes that prosperity on to its members.

The rules of the Credit Union re- quire each member to own a minimum of 25 equity shares up to a maximum of 1,000 shares, At $1.00 per share, that mearts $25.00 of shares must be purchased. Members under the age of 19 and 65 or older are exempt from this requirement.

Once you have satisfied the minimum share requirement, you are entitled to participate in the affairs of the Credit Union through attendance and voting at the Annual General Meeting. You can be elected to the Board of Directors or to a committee. You may also vote for directors and any resolution at the membership

ANNOUNCEMENTS |

ivrkigal 2 Met : H @ Mr. Dennis Humphries has stepped down as Vice President of NSCU's Board of Directors; he remains an ac- tive Director on the Board as Chair- man of the Human Resources Com- mittee and is currently serving a se- cond term as a Director on the Board at BC. Central Credit Union.

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© Mr, Gerry Brewer is the new Vice

President of NSCU's Board of Direc- tors. The past Director of Purchasing and Property Services with the City of North Vancouver since 1974, Mr. Brewer was appointed Administrator for the City of North Vancouver in March of this year.

© Rick Bennett, the newest Director on our nine-inember Board, was ap- pointed in September of this year to replace the position vacated by Sophia Dunn. The 29-year-old North Bumaby resident is married with two children and is employed as an Administrator with the Federal government.

meetings. But all members are entitl- ed to only one vote regardless of the number of Equity Shares they own.

Equity Shares are also redeemable or transferable to another member subject to approval by the Credit Union's Board of Directors,

If you need more information about Equity Shares, contact the Member Service Representative or Branch Manager at any North Shore Credit Union branch.

SURVEY RESULTS: MEMBERS LIKE CONVENIENCE & SERVICE QUALITY

Surveys can be an effective method to evaluate peoples attitudes. and preferences, North Shore Credit Union conducts a variety of surveys to measure performance standards, iden-

tify members’ concerns and needs, .

and ultimately, to help determine the appropriate direction for planning pur- poses. Again, these surveys are in- valuable as we strive toward our ob- jective: ‘to provide our members with quality products and services at a fair price”

A recent survey completed early this fall was prepared for NSCU by Cen- trum International Marketing Group and was based on responses from 451 participating members. The results reflected a very strong, positive image. These are the highlights:

1. Our strength lies in the quality delivery of personalized professional banking services. :

2. Members reflect a strong apprecia- tion of our efforts to treat them as individuals.

3. Importance of member convenience and sound jinancial advice are recognized —- 45% noted easy access to facilities from home or work, bet- ter hours and no teller service line-up. 4. North Shore Credit Union is con- sidered by many (6c as “the place to be?

5. Forty-four per cent (44%) of members considered Credit Union philosophy important. .

6. Voting process (Annual General Meeting) was important to 40% of the membership.

7. Majority of members — over 80% — rely heavily on printed information generated by the Credit Union; eg. brochures, pamphlets, newsletters, statement stuffers, news bulletins and

flyers.

8. Over .80% were pleased with NSCUs staff and described them as attentive, courteous, efficient, friend- ly, knowledgeable and informative.

Credit Union Deposit Insurance Corporation of British Columbia

All deposits and non-equity shares uarantced

DIRECTORY OF BRANCHES

Head Office

301 - 1112 Lonsdale Ave.

North Vancouver, B.C., V7M 2H2 Phone: 986-4321

Lonsdale Branch

Merv Kennedy, Main Branch Manager

1100 Lonsdale Avenue

North Vancouver, B.C. V7M 2H3 Phone: 986-4321

Lynn Valley Branch

Sheila Kilpatrick, Branch Manager 1247 Ross Road

North Vancouver, B.C. V7J 1V1 Phone: 980-6556

Marine Drive Branch

Doug Peters, Branch Manager 1080 Marine Drive

North Vancouver, B.C. V7P 1S5 Phone: 986-1116

Village Branch

Penny Downie, Financial Services Manager

3131 Edgemont Blvd.

North Vancouver, B.C. V7R 2N7 Phone: 985-8221

Dollarton Branch

Paula Bronson, Financial Services Manager

399 Dollarton Highway North North Vancouver, B.C. V7G 1M9 Phone: 929-8111

Park Royal Branch

Marion Henselwood,

Fenancial Services Manager

2080 Park Royal South

West Vancouver, B.C. V7T 2W4 Phone: 936-8571

Whistler Branch

Sandy Anderson, Branch Manager 49313 Skiers Approach : Whistler, B.C. VON 1B0 . Phone: 932-5314 (Long Distance) _

Alberni Branch . Steve Canning, Branch Manager 101 - 1166 Alberni Street Vancouver, B.C. V6E 3Z3 Phone: 685-9302

‘ Davie Branch

Greg Stewart, Branch Manager: 1195 Davie

Vancouver, B.C.. V6E 1N2 Phone: 688-0436

North Burnaby Branch Lorraine Manyk, Branch Manager 6628 East Hastings Street Bumaby, B.C. V5B 1S3

Phone: 299-1404

Communication’ is a two-way street — The Communicator is our vehicle. Through these pages we try to keep you ‘updated on “new or: changing services and events, and we look forward to o ig. your. comments and suggestions. : We want to serve you better. . Please write to: =.” Don Mitchell . . . Marketing Division Manager - “North Shore Credit Union - ‘ Suite 301'-.1112 Lonsdale Ave. “North Vancouver, B.C. ot VIM2H20 0 8

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