Notes to Consolidated Financial Statements

1.		Nature of Operations
2.		Summary of Significant Accounting Policies
3.		Inventory
4.		Capital Assets
5.		Investments
6.		Intangible Assets and Goodwill
7.		Loan Payable
8.		Consolidated Statement of Cash Flows
9.		Contingencies
10.		Retirement Benefit Plans
11.		Commitments
12.		Financial Instruments and Risk Management

5. INVESTMENTS

[a] Investment in joint venture is as follows:

	2007 $	2006 $


Investment in joint venture
Investment at cost	455	–
Share of net loss for the year	(300)	–

Total Net Investment	155	–

The Association has a 34% interest in Cefex Centre for Fiduciary Excellence, which defines and rates fiduciary risk of organizations based on a "Trust Rating" program.

[b] Long-term investments consist of the following:

	Due in	Carrying value		Market value
	2-21 years	2007	2006	2007	2006
	$	$	$	$	$


Government bonds	28,010	29,181	28,197	29,138	28,291
Weighted average interest rate
Stated5.0%
Effective4.8%
Equities		22,119	17,902	23,925	18,875
Cash and cash equivalents held by brokers		1,290	310	1,296	311

		52,590	46,409	54,359	47,477