Number 13 proves lucky for Coast Capital Savings

Coast Capital Savings president and CEO Tracy Redies (CNW Group/Coast Capital Savings Credit Union)

Local credit union clinches another prestigious national award

SURREY, BC, Feb. 26, 2013 /CNW/ - Coast Capital Savings has been recognized as one of Canada's 50 Best Managed Companies, marking the 13th year it has won this national accolade and the fifth consecutive year it's been included in the elite Platinum Club.

Canada's annual 50 Best Managed Companies award is the country's highest and most recognized distinction available to Canadian private enterprise with revenues over $10 million. Membership of the prestigious Platinum Club is reserved for companies that have won the Best Managed award for at least six years in a row.

The competitive program, sponsored by Deloitte, CIBC, National Post and Queen's School of Business, acknowledges companies for their best practices in the areas of leadership, financial growth, social responsibility, employee and member satisfaction, culture, brand and knowledge.

"Leadership in customer experience, community investment and innovation are at the core of Coast Capital's culture," says Tracy Redies, Coast Capital's president and CEO. "To be awarded this mark of excellence for the 13th year demonstrates to our members, employees and stakeholders that we're serious about these commitments and that we genuinely do want to change the way Canadians feel about banking, forever."

Key 2012 highlights that helped Coast Capital secure its place in the Platinum Club once again include:

  • Customer satisfaction remains high at 86.8 per cent
  • Coast Capital invested nearly $5 million in its communities to support a wide range of initiatives, with employees volunteering over 9,500 hours in 2011. Community initiatives and investments included launching an innovative, new Young Leaders Council "for youth, by youth" contributing $1 million to the UBC Sauder School of Business to establish the Coast Capital Innovation Hub; and a new multi-year partnership with the Fraser Health Authority that will help reduce and prevent youth mental illness
  • New branches were opened in Burnaby and Duncan. Both branches feature Coast Capital's innovative aperio 2.0 branch design
  • A new iPhone app was added to the suite of mobile products, giving customers more choice for their mobile banking
  • As at November 2012, over 26,000 members had taken advantage of The Where You're At Money Chat service, which was launched in summer 2011. The Money Chat helps customers better manage, save, protect and grow their money.
  • Coast Capital saw an 8 per cent increase in mortgage growth in the first three quarters of 2012, thanks to the popularity of the credit union's You're the Boss™ Mortgage product, dubbed on the most flexible on the Canadian market.
  • The launch of a creative "Monsters" advertising platform helped attract marketing attention and position Coast Capital's brand as the choice for customers seeking relief from money stress.

"This is an exciting time for Coast Capital Savings," said Redies. "The foundation of our corporate strategy lies in our ability to redefine the financial services industry. This is a lofty goal but one we believe we can achieve with the support of our great team of staff who work every day to deliver simple financial help to our customers."

Coast Capital Savings Credit Union is Canada's second largest credit union with total assets under administration of $13.5 billion, 475,000 members and 50 branches in the Metro Vancouver, Fraser Valley, and Vancouver Island regions of British Columbia. Product innovations include Canada's first free chequing account from a full-service financial institution and the country's most flexible mortgage product, the You're the Boss™ Mortgage, which was named 2010 Mortgage of the Year by canadianmortgagetrends.com. Coast Capital offers one of Canada's 10 Most Admired Corporate Cultures™. It is a member of Canada's Best Managed Companies Platinum Club and an Imagine Canada Caring Company. To learn more, visit www.coastcapitalsavings.com.

Image with caption: "Coast Capital Savings president and CEO Tracy Redies (CNW Group/Coast Capital Savings Credit Union)". Image available at: http://photos.newswire.ca/images/download/20130226_C8603_PHOTO_EN_24076.jpg

SOURCE: Coast Capital Savings Credit Union

For further information:

Divine Agodzo, Manager, Media Relations
Coast Capital Savings Credit Union
Telephone: (604) 517-7549
E-mail: divine.agodzo@coastcapitalsavings.com