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New Credit Union Association Board of Directors

20 September 2005

New Credit Union Association Board of Directors

INVERCARGILL, TUESDAY 20 SEPTEMBER 2005 – At their 43rd Annual General Meeting in Invercargill, Member Credit Unions of the New Zealand Association of Credit Unions elected a new board of directors.

Doug McLaren, Chief Executive of the New Zealand Association of Credit Unions announced that the new board comprised of John Keenan, member of Credit Union Otago (re-elected), Neil McDonald, director of Harbour City Credit Union (re-elected), Graham Clouston (existing), chairman of Credit Union Taranaki, Colin Punter (existing), chairman of Westforce Credit Union, Andrew Leys (existing), manager of Southland Credit Union, and Carla Rae (new), manager of Credit Union Westland. Doug McLaren also sits on the board as director and ex-officio.

“The Credit Union industry is democratically controlled where each member gets one vote and participates in decisions affecting the Credit Union regardless of the amount of savings or deposits or the volume of business. Voting in Credit Union associations are also conducted in keeping with democratic principles”, says Doug McLaren. “The new Board will have many exciting challenges ahead of them as we roll out the industry approved strategic plan for the next five years. We are positioned for growth as we continue to focus on our future”.

Following the AGM, the board appointed Neil McDonald as Chairman and John Keenan as Deputy Chairman.

New Zealand Association of Credit Unions

The Association was established in 1961 as the Credit Union League and later changed its name in 1989. It acts as the main trade association for Credit Unions in New Zealand and provides a range of products and services to its Member Credit Unions. Its 40 Member Credit Unions operate in more than 95 locations nationwide serving over 166,000 New Zealanders. The Association is a member of the World Council of Credit Unions and an affiliate of the Credit Union Services Corporation of Australia Ltd.

ENDS

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