In the News

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...

Central 1 Presents the First Third Party Widget Available on the Forge Digital Banking Platform with Do Some Good

Central 1’s Forge Digital Banking Platform offers fintechs and digital innovators the freedom to build widgets and capabilities to further the Canadian digital banking experience VANCOUVER, BC, May 20, 2020 – Central 1 has debuted the Forge Digital Banking Platform’s Forge Community with its first third party widget developed in collaboration with Do Some Good. Forge Community - the integrated digital ecosystem...

Central 1 Announces Voting Results from Virtual Annual General Meeting 

For immediate release VANCOUVER, May 6, 2020 — Central 1 Credit Union (“Central 1”) announced the voting results from its 2020 virtual Annual General Meeting (AGM) held on April 28, 2020. Class “A” Members approved, by ordinary resolution on an electronic ballot: the appointment of the auditors to hold office until the conclusion of the next annual general meeting of Central...

Update from the CEO- April 30

This week we held our AGM online- a first for us. The theme of my remarks was resolve, resilience and return. I continue to see extraordinary examples of the resolve and resiliency that comes from working together to help Canadians. As our industry and country begin to map out a return to normal, we recognize a new normal will be established....

Dorothy Watson honoured with the Gary Gillam Award

Vancouver, B.C. – April 30, 2020 – Central 1 and Alterna Savings are proud to announce Dorothy Watson as the recipient of the 24th annual, 2020 Gary Gillam award. This award celebrates exemplary social responsibility and sustainability within the Canadian credit union system. Throughout her 37-year career, Dorothy Watson has been recognized as an impactful and inspiring leader, showcasing cooperative...

Message from the CEO- April 21

Without a doubt, we are experiencing an unfamiliar moment in time as we navigate the health and economic crisis facing our communities. Over the past few weeks, our organization has seen a significant increase in the number of requests to build and offer new tools and supports for you, in order to provide your members and customers with access to...

Message from the CEO- April 14

For several weeks now, we have been navigating the many challenges facing our industry. As this pandemic evolves, we will continue our efforts to be responsive to your needs, whether through our core services, or in helping you develop new tools and resources to support your members and customers access important financial programs.  Canada Emergency Business Account (CEBA) Central 1 is working closely with the EDC and CCUA to enable you in offering the Canada Emergency...

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...