In the News


FirstOntario Credit Union Reaffirms their Commitment to Central 1 as Digital Banking Partner of Choice

Central 1’s Forge Digital Banking Platform offers Canadians a seamless digital user experience designed to keep financial institutions on the cusp of innovative trends VANCOUVER, BC, September 9, 2020 – Central 1 is pleased to announce that FirstOntario Credit Union has officially entered a new multi-year commitment on the Forge Digital Banking Platform, further establishing Forge as the digital solution...

Take part in Central 1 People Solutions’ 2020 Canadian Credit Union Compensation Survey

Central 1 has launched our annual Canadian Credit Union Compensation Survey on a new platform and we’re asking all credit unions to take part. The information collected will be compiled and made available in the 2020 Canadian Credit Union Compensation Report(s) later this year. Information and data protection continues to be a top priority at Central 1. That’s why this...

Central 1 and ASAPP partner to deliver Integrated Account and Lending Origination for Forge Digital Banking Platform Clients

VANCOUVER, BC and TORONTO, ONT, September 3, 2020 – Central 1 and ASAPP Financial Technology are partnering to release a new widget utilizing the Forge Archetype 2 (secure authenticated container) format, in support of the ASAPP 11.0 account and lending origination product release. This contribution will simplify certain activities such as new account setups and loan applications, making for a...

Cancelled: Momentum 2020

In consideration of the guidelines outlined by the public health authorities, Central 1 has decided to cancel this year’s Momentum Conference. All Central 1 in-person events and conferences have been suspended for the foreseeable future. The health and well-being of our employees, members, clients, and communities are a top priority for Central 1. Although we cannot gather in-person at the...


Central 1 reports 2020 second quarter financial results

VANCOUVER, B.C., August 21, 2020 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $72.0 million for the second quarter (Q2) ended June 30, 2020, compared to a profit after tax of $12.7 million in the same period in 2019.   Following the extreme widening of credit spreads in the first quarter of 2020, Central 1’s second quarter financial performance was positively impacted by a significant narrowing of these spreads, which led...

A tempered and uncertain recovery begins in Ontario

Toronto, O.N., June 11, 2020­ –  Ontario faces an uncertain economic recovery as it gradually resumes business activity amidst a COVID-19 induced recession which saw 1.1 million jobs lost in Ontario between January and April, according to Central 1 Regional Economist Edgard Navarrete. In Central 1’s latest Ontario Economic Analysis, Navarrete outlines that the province’s annual real gross domestic product...

Central 1 reports 2020 first quarter financial results

VANCOUVER, B.C., May 22, 2020 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss after tax of $67.0 million for the first quarter (Q1) ended March 31, 2020, compared to a profit after tax of $25.1 million in 2019. Central 1’s Q1 financial performance has been adversely affected by the monetary actions taken by central banks...

Central 1’s confirmation as Lynx participant means seamless transition to new high value payments system

Central 1 Credit Union (Central 1) has been confirmed as a day one participant in Lynx – Canada’s new high-value payments system which will replace the Large Value Transfer System (LVTS) in 2021 – ensuring no interruption to wire payments for the Canadian credit union system. All 16 current LVTS participants were required by Payments Canada to undergo an exercise to...