Buduchnist Credit Union offers its members online trading (01/14/01)

Buduchnist Credit Union offers its members online trading

TORONTO - Northern Financial Corp. announced in mid-November that it has entered into a strategic alliance with Buduchnist Credit Union to be the exclusive provider of online trading to the members of the credit union. Through its division, eNorthern, Northern Financial offers an online brokerage service at www.enorthern.com. This alliance will enable credit union members to access online trading directly via a link from the Credit Union's online banking website as well as participate in the online public offerings of Northern Financial.

eNorthern is an online brokerage and financial information portal, which offers Canadian investors a platform for trading North American stocks, options and mutual funds. The eNorthern website provides extensive market information as well as research and analysis tools from such leading information providers as Morningstar, Financial Web, SmallCap Centre, Briefing.com and The Street.com.

"This alliance is an excellent opportunity for us to build our client base for online trading and online public offerings, which is a key strategic priority," stated Vic Alboini, president and CEO of Northern Financial. "Our strategic direction is to deepen our client base through strategic alliances with partners such as Buduchnist. Credit unions in Canada have a strong history of providing excellent value-added, customer-oriented services to their members. We share a common belief in delivering high quality, superior value service to our online clients."

Buduchnist Credit Union serves over 14,000 members of the Ukrainian community through offices located in Toronto, Mississauga, Hamilton and Ottawa. Founded in 1952, Buduchnist is the 12th largest credit union in Ontario with assets totaling $220 million. The credit union provides full financial services for its members including investments, mutual funds, personal and commercial loans and mortgages, a wide range of registered plans and a particular focus to the small business sector.

Oksana Prociuk, general manager of the Buduchnist Credit Union, said "We believe that is it is very important for us to offer a full range of services to our credit union members. By partnering with Northern Financial, we are able to provide access to online brokerage services at eNorthern to assist them in their investment planning. Our members will have access to a broad range of market information and research tools; in addition they will be able to execute trades for equities, options and mutual funds and have access to the online public offerings on the eNorthern site."

Northern Financial Corp. and its subsidiary, Northern Securities, is a Toronto-based publicly held Internet investment bank that raises capital online for small market capitalization companies and provides online trading services at its website.

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