In the News

Central 1 Invests in Ukraine Sovereignty Bond

Central 1 is pleased to announce its $5 million investment in the Government of Canada’s Ukraine Sovereignty Bond. An amount equal to the proceeds from the bond will directly support the Government of Ukraine to provide essential services to Ukrainians, such as pensions, purchasing of fuel before winter and restoring energy infrastructure. “Central 1 is grateful for the opportunity to...

Central 1 Reports 2022 Third Quarter Financial Results

VANCOUVER, B.C. November 24, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit of $1.3 million for the third quarter (Q3) ended September 30, 2022. “We continue to support our members and clients through the effects of a slowing global economy and resulting consumer behaviours,” said Sheila Vokey, Central 1’s President and CEO. “While our year-to-date...

Central 1’s People Solutions to Move to Canadian Credit Union Association

VANCOUVER, B.C., October 19, 2022  - Central 1 and Canadian Credit Union Association (CCUA), today announced the transition of Central 1’s human resources consulting agency People Solutions to be owned and managed by CCUA. With this transition, CCUA will provide a centralized resource to credit unions for People Solutions’ services. This decision comes after a long period of discussions between...

Central 1 Responds to Canadian Credit Union Association and Atlantic Credit Unions Call for Hurricane Fiona Support

VANCOUVER, B.C., September 28, 2022 – In response to the destruction brought on by Hurricane Fiona in Atlantic Canada, the Canadian Credit Union Association (CCUA) and Atlantic Credit Unions have partnered to support relief efforts and are encouraging donations to the Canadian Red Cross to support hurricane victims.  As a member of the credit union system, Central 1 is pleased to...

Central 1 Reports 2022 Second Quarter Financial Results

VANCOUVER, B.C., August 26, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $26.2 million for the second quarter (Q2) ended June 30, 2022. “Central 1’s second quarter results reflect the impact of increasing market yields in the Canadian fixed income market,” said Sheila Vokey, Central 1 President & CEO. “While global economic challenges...

Payments Modernization in Action: Supporting Emergency Payments in B.C.

Central 1 is pleased to recognize the Province of BC’s (the Province) recent announcement about the availability of Interac e-Transfer as part of its upgrades to Emergency Support Services (ESS). The achievement demonstrates the benefits of leveraging modernized payments to support Canadians’ increasing demand for digitally enabled payment choices. As a financial institution headquartered in Vancouver, B.C., Central 1 knows...

Lighthouse Credit Union Joins Central 1

Vancouver, B.C., June 29, 2022 – Central 1 is pleased to announce their newest Ontario member — Lighthouse Credit Union based out of Toronto, effective June 18, 2022. Newly formed Lighthouse Credit Union was created to serve the Greater Toronto Area’s Jewish community with a focus on making home ownership in Jewish neighbourhoods more accessible through competitive residential mortgages, everyday...

Central 1 Reports 2022 First Quarter Financial Results

VANCOUVER, B.C., May 27, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $35.4 million for the first quarter (Q1) ended March 31, 2022. Central 1’s reported results are reflective of the impact of widening credit spreads on the mark to market valuation of its Treasury securities portfolio as compared to its deposit funding. Total...

Central 1 Announces Voting Results from 2022 Virtual Annual General and Special Meeting

Vancouver B.C., May 5, 2022 – Central 1 Credit Union (“Central 1”) announced the voting results from its 2022 virtual Annual General and Special Meeting (AGM) held on May 3, 2022. Class “A” Members passed two of three special resolutions approving amendments to Central 1’s Constitution and Rules (“Rules”) on an electronic ballot. Also approved, by ordinary resolution on an electronic...

Alterna Savings and Central 1 announce the 2022 Gary Gillam Award Recipients

TORONTO, May 3, 2022 – Alterna Savings and Central 1 Credit Union (Central 1) are pleased to announce Frank Chisolm, Director of Brand and Marketing at Kindred Credit Union and Earl Campbell, Board Member of Alterna Savings, as the recipients of the 2022 Gary Gillam Award. Jointly sponsored by Alterna Savings and Central 1, the Gary Gillam Award for exemplary...