In the News

Update from the CEO – April 6

This week, our team has been working on several initiatives to help provide your members and clients with the ability to access important benefits, while at the same time supporting those of you who are reviewing and employing liquidity strategies. This continues to be a challenging time for so many, and our priority remains the same - to support your...

Central 1 successfully completes first Insured Mortgage Purchase Program transaction of $176 million

Central 1 successfully completed our first Insured Mortgage Purchase Program (IMPP) transaction on March 31, 2020 in the program’s first transaction.   Acting on behalf of a credit union as a third-party swap counterparty, Central 1 helped secure $176 million in funding to support our member’s liquidity management  – demonstrating Central 1’s expertise and resolve to help credit unions access funding in the current economic environment. Central 1 has a full suite of funding and liquidity products to assist credit unions, and IMPP and securitization will help many credit unions during this period.   Supporting credit unions every step of...

Central 1 strengthens resilience for the credit union system

As a primary liquidity provider to the credit union system, Central 1 manages our portfolio to ensure we have appropriate levels of liquidity to support the system during times of stress. This ensures we are able to continually offer our programs when our members and clients need them the most. Central 1 is here to help. We are focused on...

Update from the CEO

So much has happened in the last week. I hope you are safe, healthy and managing as best you can. I want to commend you for the incredible adjustments you have made to your organizations in order to support your employees, members and customers. Central 1 pandemic readiness and response As I mentioned in my update to you last Monday, Central 1 has moved most...

IFRS 9 Loan Loss Reporting Platform includes COVID-19 modelling impacts

With the evolving situation around COVID-19, Central 1 is well-positioned to support you in meeting your reporting and analytical needs for IFRS 9.   Central 1’s IFRS 9 Platform is a loan loss model that provides modelling capabilities in addition to pre-formatted and populated reports to support your regulatory and financial statement disclosures.    Our model updates economic parameters and incorporates expertise from our economics team, including commentary and forecasts. This enables you to...

Central 1 provides a Summary of Contingency Funding Plan Actions

As a primary liquidity provider to the system, Central 1 manages our portfolio to ensure it has appropriate levels of liquidity to support the system during times of stress. We are well-positioned to support you and have a number of treasury programs to help you navigate these highly unusual times. Our Treasury team is closely monitoring financial markets and the...

Credit Union Liquidity Support

These are unprecedented and challenging times for everyone, and the health and well-being of our employees, members, clients, and communities are a top priority for Central 1. We are confident in our ability to maintain essential products and services, and to protect our critical business functions with limited disruption to Central 1, our credit union system and our clients. With...

Central 1 Update on COVID-19 Response for Member Forum and AGM

Central 1 Update on COVID-19 Response Member Forum cancelled; AGM will be virtual This is an unprecedented time in Canada – and in the world – where issues and challenges are developing on an almost daily, if not hourly, basis. Like all of you, our team at Central 1 has been closely monitoring the evolving situation around COVID-19. The health and...

COVID-19: Message from the CEO

Colleagues,  With growing concerns and impacts of COVID-19, I wanted to provide you with an update on Central 1’s response and actions to date and our commitment to you going forward. These are unprecedented and challenging times for everyone, and the health and well-being of our employees, members, clients, and communities are a top priority for Central 1.   First and foremost, I want to reassure you that Central 1 is ready to maintain...

Central 1 Announces Elected and Appointed Members to its Board

VANCOUVER, March 9, 2020 — Central 1 Credit Union (Central 1) is pleased to announce that four directors – including two new to the Board – have been declared elected by acclamation to Central 1’s Board of Directors and will begin three-year terms following the conclusion of Central 1’s annual general meeting on April 28, 2020 (AGM). Four seats were...