In the News

Central 1 Selected as Digital Banking Partner of Choice by League Data

Central 1’s Forge Digital Banking Platform offers Canadians an elevated digital experience in today's ever-evolving fintech landscape VANCOUVER, BC, January 9, 2020 – Central 1 is pleased to announce that League Data Ltd. - an organization providing information technology services and support to 46 credit unions in 140 locations across Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland and Labrador - has chosen...


Central 1 appoints Dinesh Garbharran as Chief Risk Officer

VANCOUVER, December 18, 2019 - Central 1 Credit Union (Central 1) is pleased to announce the appointment of Dinesh Garbharran as Chief Risk Officer, effective January 2, 2020.  Garbharran specializes in leading high-performing teams to deliver complex regulatory, technology, and business programs. Having worked within the financial and health sectors in Canada and South Africa, Garbharran has held senior executive roles in operations, risk management, and compliance at Scotia Bank, TD Bank, Standard Bank Group, and Discovery Holdings.    “Dinesh has a deep knowledge of enterprise and operational risk and possesses strong leadership abilities and analytical acumen to support Central 1 as we navigate the evolving financial services...

First West Credit Union unveils a new digital banking experience across its regional brands for all retail banking members

LANGLEY, B.C. – First West Credit Union today announces that a new digital banking experience is now available for its retail banking members across all its regional divisions. Following on the heels of the launch at Envision Financial in September, all three channels of the Forge Digital Banking Platform, including new mobile apps, online banking platforms and public websites were recently...

B.C. housing market in recovery; growing population, lower borrowing costs and pent-up demand to drive higher prices and sales

B.C. housing market in recovery; growing population, lower borrowing costs and pent-up demand to drive higher prices and sales Vancouver, B.C., November 25, 2019 – B.C.’s housing market is recovering much quicker than anticipated after the 2018 downturn, according to Central 1 deputy chief economist Bryan Yu in the latest B.C. Resale Market Housing Outlook 2019-2021. The report finds that...

Central 1 reports third quarter 2019 financial results

Central 1 reports third quarter 2019 financial results   VANCOUVER, B.C., November 22, 2019 – Central 1 Credit Union (Central 1) reported profit after tax of $5.7 million in the third quarter ended September 30, 2019, compared to a very strong third quarter 2018 profit after tax of $19.3 million. Net financial income was $17.8 million compared to $27.3 million...

Ontario economy hampered by global economic slowdown

    Toronto, ON, November 5, 2019­ – Ontario’s growth prospects are hampered by slowing global economic growth and persistent trade uncertainty, which will temper export activity and capital investment, according to Central 1 economists in the latest Ontario Economic Forecast for 2019-2022. The report, authored by Central 1’s Deputy Chief Economist Bryan Yu and Ontario Regional Economist Edgard Navarrete, says...

Central 1 plans to strengthen protection of its members’ MLP deposits

VANCOUVER, BC (October 30, 2019) – Central 1 Credit Union (Central 1) today announced that it is undertaking a review of its operations to ensure it is best positioned to enable the long-term success of the credit union system in British Columbia (BC) and Ontario. As part of this review, Central 1 is in active discussions with the Financial Institutions...

Central 1 shortlisted for 2019 Excellence in Governance Awards

VANCOUVER, BC, (September 23, 2019) – Central 1, a provider of financial, digital banking and payment products and services, has been shortlisted for the Best Overall Corporate Governance Award at the 2019 Excellence in Governance Awards. The awards were created by the Governance Professionals of Canada (GPC). GPC’s mandate is to be the voice of governance professionals in Canada. GPC...