Alterna Hopeful City of Ottawa Moves Quickly on Central Library

    OTTAWA, June 24 /CNW/ - Alterna Savings, the largest property owner on
the site of the planned Ottawa Central Library, welcomes the City of Ottawa to
move quickly with its development plans.
    Alterna, formerly CS CO-OP, has a 100-year history in the city and strong
ties to the local community. Alterna's head office and largest branch are
housed on the site of the planned central library at 400 Albert Street.
    "We are committed to cooperating with the City as best we can," said John
Lahey, President and CEO of Alterna. "However, our first obligation is to our
employees and our member-shareholders."
    Lahey hopes the City will move swiftly to open discussion on the purchase
of the land so Alterna can determine if it must make alternative arrangements
and minimize uncertainty and disruption for its staff and members.

    About Alterna

    Alterna Savings is a full-service, member-focused and community-based
financial co-operative that is committed to supporting the well-being of our
members, employees and communities.
    Ontario's second largest credit union, Alterna serves more than 130,000
members at 22 branches throughout southcentral and eastern Ontario and has
over $2 billion in assets under administration.

    Alterna Bank is a wholly owned subsidiary of Alterna Savings, offering a
full range of financial products and services through branches in Ottawa, Hull
and Gatineau and through most Alterna Savings branches.

For further information:

For further information: Sherri Armstrong, Manager, Communications,
1-877-560-0100, ext. 7654, (416) 252-5625, ext. 7654

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