Central 1's primary financial responsibilities are to manage the liquidity reserves of its member credit unions, deliver central and investment banking services, provide payment and clearing services and facilitate electronic transaction services through development and delivery of online technology.
As the system's central banker, we act as the primary liquidity facility for our member/owners, managing a liquidity pool comprising more than $5 billion.
As a member of the Canadian Payments Association, we provide centralized cheque processing and other related payments services. Central 1 also plays a key role delivery of electronic transaction services, ranging from Internet banking to bill payments.
As a commercial banker, Central 1 offers a variety of funding services to credit unions, including short-and long-term loans to meet a range of financial requirements, securitization services and the buying and selling of mortgage pools, among others.
In addition, Central 1 acts as trustee for credit union registered plans in B.C., manages Canada Savings Bonds sales and administers the B.C. credit union system's pension plan and benefits program.