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Central 1 takes “open and collaborative approach” to shaping its Payments Modernization strategy

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Central 1 is excited to launch its Payments Customer Advisory Council (the Payments Council); a collaboration between Central 1 and our existing B.C., Ontario and Atlantic payments clients, designed to ensure their voices are included in shaping the new payments infrastructure, products and services required to achieve compliance with Payments Canada’s modernization initiative and create opportunities for innovation.  “Central 1 values our position as a trusted payments partner to the credit union system and within the overall Canadian financial services industry,”...

2020 Canadian Credit Union Compensation Survey Results

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Central 1 People Solutions’ 2020 Canadian Credit Union Compensation Survey Executive and Non-Executive Reports are now available.  Our compensation survey serves as an effective planning tool for credit unions to benchmark compensation against your comparable peer groups. In addition, it enables you to design a competitive compensation strategy that aligns compensation goals to the market.   People Solutions’ comprehensive database represents over 120 credit unions across Canada and has over 70 benchmark positions, covering executives (including...

Tackling fraud in a world of real-time payments: Meet our expert Gary Eaton

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Gary Eaton brings knowledge, experience and skills derived from over two-decades in the RCMP and 17-years investigating and preventing financial crimes (fraud and money laundering) in the credit union system to his new role as Central 1’s Director, Risk Solutions Consulting. We sat down with him to discuss the implications of Canada’s Payments Modernization initiative on fraud and how Central...

Central 1 reports 2020 third quarter financial results 

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VANCOUVER, B.C., November 26, 2020 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $25.6 million for the third quarter (Q3) ended September 30, 2020, compared to a profit after tax of $5.7 million in the same period in 2019. During the quarter, Central 1 continued to help its members and clients navigate...

“You must welcome change as the rule, but not as your ruler ” -Denis Waitley

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One of the only real constants in life is change. We don’t have to look very far into 2020 to see how true this is: digital transformation, remote and hybrid leadership, workforce changes and diversity, equity and inclusion. As we learn to evolve and change in this new environment, it’s becoming more important for companies to understand how to effectively implement change across your organization.  Why is change management...

Beyond Loans: How Financial Institutions should be supporting small businesses

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I think we can all agree that 2020 has not gone according to plan – with the impacts of COVID-19 hitting everyone incredibly hard on a global scale, small businesses have had an uphill battle in facing incredible financial pressures and challenges to their business strategies. Financial institutions have been stepping up to bat for their business members and customers,...

Central 1 enables Coconut Software on the Forge Digital Banking Platform

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  Coconut Software will provide customer engagement solutions to over 178 financial institutions presently moving to Central 1’s Forge Digital Banking Platform VANCOUVER, BC, October 29, 2020 – Vancouver, BC - Coconut Software, the leading provider of customer engagement solutions for the banking and credit union industry, has renewed a working relationship with Central 1, Canada’s leading digital banking and...