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Central 1 reports 2023 second quarter financial results

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Second quarter 2023 highlights (versus second quarter, 2022): Profit of $18.5 million, compared with loss of $26.2 million Net financial income of $42.2 million, compared with net financial expense of $25.3 million Return on average equity1 of 5.1 per cent, compared with negative 7.3 per cent Year-to-date 2023 highlights (versus year-to-date, 2022): Profit of $19.7 million, compared with loss of...

Save the date: join more than 400 credit union leaders and financial industry experts at Momentum 2023

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Momentum 2023, Central 1’s annual conference will return November 27-29 to Vancouver’s Fairmont Hotel Vancouver. What you can expect from Momentum 2023: Deep insights and discussions on diverse topics shaping our industry Access to plenary sessions and panels featuring high-profile speakers, focused workshops and an interactive exhibit hall Professional content that will allow you to tap into collective expertise and...

Fintechs and credit unions launch new offerings from Central 1’s innovation platform

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DUCA, First West and thirdstream lead 2023 deployments from Forge Community VANCOUVER, B.C., June 12, 2023 – Central 1 today announced the latest deployments from its innovation hub, Forge Community. DUCA, a credit union participant that joined the collaborative platform last year, launched a new profit-share rewards program for their more than 92,000 members. Credit union First West, in partnership...

Central 1 reports first quarter financial results

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VANCOUVER, B.C. May 26, 2023 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit of $1.3 million for the first quarter (Q1) ended March 31, 2023, up $36.7 million from the same quarter one year prior. Q1 2023 results compared to Q1 2022: Profit of $1.3 million, compared to a loss of $35.4 million in Q1 2022...

Central 1 announces results from 2023 Annual General and Special Meeting

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For immediate release VANCOUVER, May 15, 2023 — Central 1 Credit Union (“Central 1”) is pleased to announce that all matters set out in the Information Notice, dated March 30, 2023, for the 2023 Annual General and Special Meeting held on April 26, 2023 (the ''Meeting'') were approved by members. Class A Members passed a special resolution approving amendments to Central 1’s Constitution...

Alterna Savings and Central 1 Recognize Community Leaders with Gary Gillam Award 

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TORONTO, April 27, 2023 – At the 2023 Central 1 Member Forum & AGM, community leaders Thelma Rodriguez Cantu and Miriam Wohl were awarded the 2023 Gary Gillam Award, presented in partnership by Alterna Savings and Central 1.  Miriam (left) and Thelma (right) “The Gary Gillam award honours those individuals advocating for social responsibility within the credit union system,” said Sheila...

2022 Central 1 Annual Report Available Now

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The interactive 2022 Central 1 Annual Report is now available online  While 2022 brought significant change and uncertainty, it also created opportunities for Central 1 to reset, enhance and expand our offerings to better serve our members and clients, and work towards our purpose of enabling a thriving credit union system.  Each year, Central 1 releases our annual report to...

Payments Modernization in Action: Payments Canada announces Lynx Release Two

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Central 1 is pleased to recognize Payments Canada’s recent announcement about the launch of the second release of Lynx, supporting the introduction of the ISO 20022 financial messaging standard to high-value payments in Canada. This second release helps to set the foundation for further payment innovation to occur in Canada over the coming years.  Central 1, in collaboration with other partners including...

Central 1 Reports 2022 Financial Results

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VANCOUVER, B.C., March 3, 2023 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $69.6 million for the year ended December 31, 2022, compared to a profit of $45.4 million in 2021. “Our 2022 financial story is reflective of the challenging market conditions during the year which has resulted in unrealized losses on our fixed income...

Central 1 Announces Results of 2023 Director Election Process

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VANCOUVER, B.C., February 22, 2023 — Central 1 Credit Union (Central 1) is pleased to announce that four directors 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 and special meeting on April 26, 2023 (AGM). Four seats were available in this year’s election, two...