In the News

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...

Central 1 goes global with new ‘International Transfers’ product, simplifying cross-border transactions for Canadians

A leading digital solution, International Transfers enables Canadians to easily, seamlessly move money cross border, 24/7 through their credit union VANCOUVER, BC, September 11, 2019 – Central 1 today announced the nationwide launch of its newest product, ‘International Transfers’—a made-in-Canada solution for Central 1 clients that gives Canada’s credit union members the ability to move money cross-border any day, at...

Central 1 Announces the Winners of the Inaugural 2019 AmpliFI Awards

Recognizing technology leadership in Canada’s small and medium-sized financial institutions VANCOUVER, B.C., September 10, 2019 – Central 1 Credit Union (Central 1) announced the winners of its first annual AmpliFI Awards at its Momentum 2019 conference. The Awards recognize and celebrate the exceptional work and results by financial institutions across Canada in an increasingly competitive market. The 2019 AmpliFI Awards...

Strong Treasury Earnings in the Second Quarter of 2019 Furthering Strategic Investments

VANCOUVER, B.C., Aug 23, 2019 –  Central 1 Credit Union (Central 1) today announced its second quarter 2019 financial results. Financial income more than doubles to $28.7 million, up $15.7 million compared to the same period last year, driven by strong Treasury performance. Higher earnings support the significant investments in strategic initiatives that continued throughout the second quarter of 2019....

Central 1 report finds B.C. economy affected by fragile global economy

B.C. Economic Outlook 2019 – 2022 BRITISH COLUMBIA, August 15, 2019 - B.C.’s economy proves it is not immune to the fragile state of the global economy as it suffers the flow-on effects of weakening trade, growth expectations and investment, according to Central 1’s latest B.C. Economic Outlook. Central 1 Deputy Chief Economist, Bryan Yu, said that external global trade...