December 1, 1998 -- Kitchener, Ontario, Canada.
Penad Pension Services has been contracted to provide a PX3000 multi-employer pension administration system for the pension plan members of the Credit Union Central of British Columbia (CUCBC).

A banking and trade association uniting 86 independent credit unions, CUCBC is the largest financial network in western Canada. Its plan began in 1971 as a money-purchase plan and now covers both defined benefit and defined contribution options. Penad’s administration solution will replace the organization’s legacy software, which is not Y2K-compatible. Among the reasons for selecting the PX3000 system was its unique ability to service the administration needs of multiple employers, while handling both defined benefit and defined contribution pension options.