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Pinnacle Correspondent Services to distribute Pacific &; Western Bank GICs

^{Published on 2010-06-08 07:35:11 - Market Wire}
 

LONDON, ON, June 8 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) today announced that Pinnacle Correspondent Services, a division of Canaccord Genuity Corp., has signed an agreement to distribute the GICs of PWC's wholly-owned subsidiary, Pacific & Western Bank of Canada (PWBank).

Canaccord Genuity Corp. is a subsidiary of Canaccord Financial Inc., Canada's leading independent financial services firm, with 34 offices worldwide, including 24 wealth management offices located across Canada. Canaccord Genuity, the international capital markets division, operates in the U.S., U.K., Canada and Barbados.

David Taylor, President and Chief Executive Officer, stated, "We are pleased to add Pinnacle Correspondent Services to our growing network of deposit agents and have the opportunity to offer our GICs to Pinnacle's customers in Canada. This relationship furthers our corporate strategy to diversify and expand our deposit base."

Pacific & Western Bank of Canada (PWBank), a Canadian Schedule I chartered bank, is a branchless financial institution. PWBank specializes in providing financing throughout Canada to well established corporations and government entities, including hospitals, school boards, universities and colleges, municipalities, provinces and territories, and federal government agencies.

Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.

Investor Relations: Wade MacBain, Director, (800) 244-1509, [ wadem@pwbank.com ]; Public Relations & Media: Tel Matrundola, Vice-President, (866) 787-9936, [ telm@pwbank.com ]

To receive company news releases, please contact: Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204.