TORONTO, ON – September 15, 2022 –

Today, Alterna Saving and Credit Union (Alterna) is celebrating and honouring the career of Sharon Kent – a credit union leader who joined us when Member Savings Credit Union (MSCU) merged with Alterna in December 2020. Sharon will be retiring on September 16th,2022.

Over her 37-year career, Sharon has been a fixture at MSCU, starting as Administration Manager and making her way to Chief Executive Officer in 1994, only ten short years after beginning her career in the financial industry. At that time, Sharon was one of the youngest and very few female CEOs in the Ontario credit union system.

MSCU was originally the LCBO Employees' (Toronto) Credit Union and was established in 1949 by a volunteer group to serve the needs of the employees of the Liquor Control Board, the Liquor License Board of Ontario (now called the Alcohol and Gaming Commission of Ontario), and their families. They served members throughout Ontario from a single branch located in downtown Toronto. This situation presented many unique challenges, which the team at MSCU met head-on by creating customized
solutions to meet the need of their diverse and widespread member base. With Sharon at the helm, MSCU led the digital banking community as one of the first credit unions in Ontario to have a public website and the first financial institution to introduce internet banking to their members. They also
pioneered remote deposit options, cashback withdrawals, and interactive voice response (IVR) to provide information to members.

Most of Sharon's year career was with Member Savings. "Bringing my 37+ year career to a conclusion is exciting, yet not an easy decision. I am proud of the team we built at Member Savings and the impact
we make on our members' lives," says Sharon. "Most of my team has been with me for many years, and they are the face of MSCU. We have built enduring relationships with our members over many years, which is one of the biggest contributing factors to our success."

Sharon has also been very active in the credit union and cooperative space throughout her career. She served as the Director/Treasurer of the Credit Union Manager's Association for 15 years and on numerous committees with Central 1. In the community, she works with two not-for-profit housing corporations, the Widworthy Charitable Foundation and Church Station Charitable Foundation where she serves as board chair.

Sharon has been an excellent partner in the merging process, and we are looking forward to fulfilling the promise we both made to the members of MSCU – to continue to look after their financial security through Alterna's strength and outstanding products and services.

"I know I'm not alone in being grateful that Sharon chose to dedicate her career to the credit union movement", said Rob Paterson, President & CEO of Alterna Savings. "She has been an exceptional leader in the credit union system in Canada, and her impact and energy will be sorely missed. On behalf of all
our members and teams at Alterna Savings, a happy and healthy retirement Sharon!"

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has been the good in banking™ for over 110 years.
Alterna is made up of Alterna Savings and Credit Union Limited and its wholly-owned subsidiary, CS Alterna Bank.

As the first full-service, member-owned cooperative financial institution outside Quebec, Alterna Savings shares its expertise with 217,000 members through a network of 47 branches across Ontario, as well as call centre and digital channels. Members and customers also benefit from an industry-leading
online brokerage, investment management services, and have access to over 43,000 surcharge-free
ATMs in North America with THE EXCHANGE Network in Canada and the Allpoint Network in the US.

For more information, please visit www.alterna.ca.

Media Contact:
LeeAnn Acton, Director of Communications
Alterna Savings | Alterna Bank
P: 1416.213.7900 ex7735
E: leeann.acton@alterna.ca