Vancouver B.C., March 15, 2022 – Today, Central 1 announced that it is temporarily waiving processing fees for wire transfers delivering financial assistance to Ukraine and its neighbouring countries including Poland, Romania, Hungary and Slovakia. The waiver will be effective immediately and retroactive to February 25 and supports all Central 1 members and clients, helping them provide their customers with the ability to send aid money to family and friends without fees.
“We are deeply saddened and concerned by the crisis we are witnessing in Ukraine, and know that many Canadians are looking for ways to help,” said Sheila Vokey, President and CEO, Central 1. “To support our members and clients whose customers are looking to send money to friends and family affected by these tragic events, we are temporarily waiving wire processing fees to ensure every dollar gets to those that need it most.”
In addition to waiving processing fees, Central 1 has partnered with the Canadian Credit Union Association to collectively raise funds for the Ukrainian people with all contributions going directly to the Canada-Ukraine Foundation. To make a donation, please visit cufoundation.ca.
Central 1 will also match all employee donations retroactive to February 25 to any of the following organizations providing humanitarian aid to Ukraine: the Canada-Ukraine Foundation, the Co-operative Development Foundation of Canada and the Canadian Red Cross.
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About Central 1
Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $13.4 billion as at December 31, 2021, Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.