Notes to Consolidated Financial Statements

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