Vancouver City Savings Credit Union (Vancity), the largest credit union in Canada and a leader in commercial lending in British Columbia, will deploy the Covarity Dashboard commercial loan monitoring software solution.

"The Covarity Dashboard automates the financial analysis processes for our commercial margined operating lines, while also providing improved service to our members." said Kevin Zakus, VP Business Banking at Vancity. "We can be sure we're performing consistent, high-quality financial and credit analysis within the standardized risk framework provided by the Covarity Dashboard."

"We're very pleased and excited to add the largest credit union in Canada as a customer." said Rod Foster, President and CEO, Covarity. "We're confident that the Covarity Dashboard will help Vancity enhance its position as a member-focused credit union and a leader in commercial lending in B.C."

With the Covarity Dashboard, borrowers upload their financial information through a secure web interface, where risk calculations and loan ratio analysis are performed automatically. Lenders have a real-time view of their loan portfolio in a simple dashboard, which immediately identifies risks, opportunities and problem accounts. As a result, lenders are able to make more informed lending decisions and manage their portfolios more effectively.

About Vancity
Vancity is Canada's largest credit union, with $10.5 billion in assets, more than 312,000 members and 43 branches throughout Greater Vancouver, the Fraser Valley, and Victoria. Vancity is guided by a commitment to corporate social responsibility, and to helping members and communities thrive and prosper.

About Covarity Inc.
Incorporated since 2001, Covarity is the leading provider of commercial loan management software solutions. The Covarity Dashboard helps financial institutions attract new business by harnessing the internet to improve customer service, while reducing the risk and effort associated with capturing borrower financial statement data and monitoring commercial loans. Please see http://www.covarity.com for additional information.

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