Credit Unions Merge Insurance Agencies

Trail, BC
November 27, 2006

Three Kootenay based Credit Unions, East Kootenay Community, Kootenay Savings and Nelson & District Credit Unions recently joined forces to form a new Insurance company.

Effective January 1, 2007 each of the three credit union owned insurance companies, East Kootenay Community Insurance Services, Kootenay Savings Insurance Services, and Allard Insurance Agencies, will officially become Kootenay Insurance Services Ltd. All three will share equal ownership.

Brian Turlock, Senior Manager of Operations at Nelson & District, has been appointed CEO of the new company and will commence his new duties December 4, 2006.

“We see this as an excellent opportunity to bring together the expertise of our three organizations for the betterment of the communities we serve”, said Brent Tremblay, CEO, Kootenay Savings. “In this competitive marketplace, it allows us to take advantage of the best of each business while providing exceptional products and service. By working together, we will be able to strengthen and grow our insurance business. This is a positive move for all three organizations that reflects the cooperative spirit of credit unions.”

The partnership brings together the expertise and knowledge of three successful and well-established agencies. The synergy created by the move positions the credit unions well to deliver auto, property and travel insurance in an increasingly competitive environment. The new insurance company will have offices in Trail, Nelson, Crawford Bay, and Cranbrook and will focus on product enhancement and expansion opportunities.

Collectively, the three credit unions, employing 366 staff, serve over 61,000 members, operate 19 branches, 10 financial planning offices and 4 insurance offices throughout the East and West Kootenays.

For media inquiries, please contact:

Brent Tremblay
CEO, Kootenay Savings CU
300 – 1199 Cedar Avenue
Trail BC V1R 4B8

Doug Stoddart
General Manager, Nelson & District CU
501 Vernon Street
Nelson BC V1L 4E9

Jody Burk
CEO, East Kootenay Community CU
925 Baker Street
Cranbrook BC V1C 1A5


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