Toronto, ON, October 29 2020 – After an initial burst in activity since the restart in summer, the Ontario economy has started to settle into a muted recovery and will not see pre-pandemic levels of activity until early to mid-2022, according to Central 1 Regional Economist Edgard Navarrete. In Central 1’s latest Ontario Economic Analysis, Navarrete said: “Annual real gross...

Vancouver, B.C., October 26, 2020  – After a remarkable 23 years as Central 1’s Chief Economist, Helmut Pastrick, who is synonymous within the credit union system, has decided to retire by the end of the year.   Helmut joined Credit Union Central of BC (now Central 1 following the merger of B.C. and Ontario Centrals) as Chief Economist in 1997 following many years working for Canada Mortgage and Housing Corporation. Helmut...

Vancouver, B.C., October 5, 2020 –  As more and more individuals and businesses accelerate their use of digital payments, Central 1 Credit Union (Central 1), has seen an almost 50 per cent year-over-year increase in the number of Interac e-Transfer® transactions it has processed on behalf of Canadian credit unions and other financial institutions in the six months since COVID-19 was declared a pandemic. Prior to the COVID-19 pandemic, Central 1 was already seeing significant growth in Canadians’ use of Interac e-Transfer transactions and other types of electronic payments. However, pandemic restrictions have accelerated the shift from paper to digital payments. In March 2020,...

VANCOUVER, B.C. October 2, 2020 - Central 1 Credit Union (“Central 1”) is pleased to announce that its members have passed a special resolution approving amendments to its Constitution and Rules (“Rules”). The amendments were proposed in connection with the plan to legally segregate the mandatory liquidity pool (the “MLP Segregation Plan”) as previously announced by Central 1. The amendments...

VANCOUVER, B.C., October 1, 2020 – Central 1 (or ‘the organization’), alongside institutional investors managing more than $2.3 trillion in assets, has signed the Canadian Investor Statement on Diversity & Inclusion, a new initiative coordinated by the Responsible Investment Association (RIA).  As a signatory to the statement, Central 1 acknowledges the existence of systemic racism and its impacts on Black and Indigenous communities and People of Colour in Canada and globally. Central 1 also recognizes the existence of inequities and discrimination with...