Coast Capital listed in Platinum Club of Canada's Best Managed Companies

SURREY, BC, Feb. 22 /CNW/ - For the third consecutive year, Coast Capital Savings has been named a member of the Platinum Club of Canada's Best Managed companies, the nation's top-tier business leadership honour roll.

This is the 11th time Coast Capital Savings has received the Canada's Best Managed Companies award, which is sponsored by Deloitte, CIBC, National Post and Queen's School of Business. Companies that make the award list six times in a row qualify to apply for platinum status.

"This important national recognition again demonstrates that Coast Capital Savings is committed to sound and progressive business practices rooted in the pursuit of innovation and business management excellence," said Tracy Redies, president and CEO of Coast Capital Savings. "This award affirms to customers, employees and other stakeholders that Coast Capital Savings is among Canada's most well-managed companies and that we are working everyday to ensure business decisions are guided by the best strategic thinking and solid planning."

Some initiatives and accomplishments that helped Coast Capital Savings secure a spot in the Platinum rankings for 2010 include:

  • Strengthening of the senior executive team with the addition of new roles, including a chief risk officer, legal counsel and a chief commercial officer
  • Development of a robust group risk management team and function within the credit union, making Coast Capital Savings one of the leaders in this area across Canada's credit union industry
  • Deployment of phase three of Coast Mobile Banking, which placed Coast Capital Savings among a select group of financial institutions in North America offering all three elements of mobile phone banking (text or SMS banking, customized alerts, and full-feature smart phone banking)
  • Implementation of an improved mobile mortgage strategy, allowing Coast Capital Savings to serve mortgage customers where and where they want, not just in a branch during typical bankers' hours
  • Deployment of a new fraud prevention program that has resulted in a significant reduction in fraud losses
  • Roll out of a new customer experience program, including "customer experience champions" in all branches
  • Launch of the flexible and award winning You're the BossTM Mortgage, which features the highest level of extra payments in Canada, easy access to funds when needed and a new rate option that captures the best features of fixed and variable rates

Redies said the 50 Best Managed Companies recognition will inspire Coast Capital Savings to continue to pursue innovation in all areas.

"Coast Capital's continuing recognition as one of Canada's best managed companies suggests we are on the right track, but we're always on the lookout for ways we can do even better," she said. "We don't just want to maintain our current successes; we want to proactively build on them."

SOURCE Coast Capital Savings Credit Union

For further information:

Divine Agodzo
Manager, Media Relations, Coast Capital Savings
Phone: (604) 517-7549

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Coast Capital Savings Credit Union

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