In the News

Central 1 reports 2021 third quarter financial results

VANCOUVER, B.C., November 26, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit from continuing operations of $41.0 million for the first nine months of 2021, an increase in profit of $18.2 million for the first nine months of 2021, compared to the same period last year. For the third quarter (Q3) ended September 30,...

Join Central 1 and Canadian credit unions in our support for the Canadian Red Cross and BC flood relief and recovery efforts

VANCOUVER, BC, November 24, 2021 – As community-based financial institutions with deep roots in the areas we serve, credit unions have a long history of coming together to support Canadian communities. Recently, a severe storm occurred resulting in flooding, landslides, mudslides, power outages and other incidents across the South Coastal and Interior regions of British Columbia. With relief and recovery...

Central 1 Unveils Latest Digital Banking Experience on Forge Digital Banking Platform with First West Credit Union  

VANCOUVER, BC, November 18, 2021 – Central 1 is pleased to announce the successful launch of the latest versions of Online Banking, Mobile App and Small Business on the Forge Digital Banking Platform. Achieved with First West Credit Union across all of its regional brands: Envision Financial, Valley First, Island Savings and Enderby & District Financial, these milestones further position the platform as a leading digital solution for financial...

B.C.’s economic recovery led by private sector growth and robust real estate market, while dependent on pandemic trajectory and global economic landscape

Vancouver, B.C., October 21, 2021 – Highlights: B.C.’s economic recovery pace dependent on the evolution of the pandemic and a resolution of supply chain disruptions; Private sector to lead province’s economic growth with technology and professional services to excel; Real estate market to remain robust as demand continues, but home sales to decline by 15 per cent in 2022 after...

Central 1 Announces Change in Digital & Payments Leadership

Vancouver, B.C., October 6, 2021 – Today, Central 1 announced that Arvind Sharma will be moving on from his role as Chief Digital and Payments Officer. Effective upon his departure, Mark Derraugh has been appointed Interim Chief Payments and Digital Banking Platforms & Experiences (DBPX) Officer. “Over the last three years, Arvind has led several key initiatives including Payments Modernization...

Central 1 and Fiserv to deliver state-of-the-art payments processing capabilities in Canada

VANCOUVER, B.C., September 14, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions, today announced it has selected Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, as its strategic partner for delivering state-of-the-art payments processing capabilities for the Canadian market. Central 1 is an integral member of...

Central 1, Vancity and First West credit unions partner to launch enhanced Interac e-Transfer® instant digital payments

VANCOUVER, B.C., September 8, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions and government organizations and payments partner of choice for emerging fintechs, in collaboration with Vancity and First West credit unions has successfully launched the first phase of Interac e-Transfer® for Business. The solution is an enhancement to the existing Interac e-Transfer service that enables the receipt of real-time, account number routed and data-rich transactions.   Vancity and First West Credit Union are...

Central 1 to Close September 30 for National Day of Truth & Reconciliation

Recently, this country established a federal statutory holiday on September 30 each year, a National Day for Truth and Reconciliation, in connection with the desire to advance the commitment to reconciliation. Observed in many parts of the country over the past several years as Orange Shirt Day, in memory of the special shirt removed from Phylllis Webstad on her first day of residential school at age six...

Central 1 reports 2021 second quarter financial results

VANCOUVER, B.C., August 20, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported an increase in profit of $25.6 million for the first half of 2021, compared to the same period last year. For the second quarter (Q2) ended June 30, 2021, profit after tax was $3.5 million compared to a profit of $39.9 million in the...

Central 1 reports 2021 first quarter financial results

VANCOUVER, B.C., May 28, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $24.7 million for the first quarter (Q1) ended March 31, 2021, compared to a loss of $37.3 million in the same period in 2020. In the first quarter of 2021, Central 1 reported strong results driven by the organization’s...