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Central 1 continues to power progress and reports 2019 financial results

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VANCOUVER, B.C., February 21, 2020­ – Central 1 Credit Union (Central 1) reported profit after tax of $34.2 million for the year ended December 31, 2019, up $31.8 million from 2018 excluding one-time gains of $82.9 million in 2018. Profit before tax was $33.3 milion in 2019, up $28.4 million from 2018 excluding the one-time gains. Results reflect strong earnings growth...

The stats show credit unions want to digitally transform to attract tech-savvy customers

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Credit unions have the opportunity to attract customers who don’t necessarily feel at home with their bank provider (think small business owners, freelancers, or millennials who – according to reports such as the Forbes’ Consumer Technographics® data – are actively considering company values and social responsibility when making a purchase.) We’ve kept this in mind as we created our new digital banking platform (called Forge), which will keep credit unions constantly on...

Nominations are now open for the 24th Gary Gillam Awards for Social Responsibility

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Vancouver, B.C., February 19, 2020 – The Gary Gillam Award for social responsibility is now accepting nominations for exemplary individuals within the Ontario and British Columbia credit union system who have achievements in either promoting social responsibility and/or sustainability in credit unions; and/or promoting credit unions as a socially responsible investment alternative. The award is jointly sponsored by Alterna Savings...

Central 1 agreement with payments fintech advances progress towards meeting payments modernization Lynx timelines

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Central 1 has signed an agreement with an innovative fintech in the payments space, Expertus, to ensure it meets Payments Canada’s 2021 timelines for the rollout of Lynx (Canada’s new high-value payments system) and the forthcoming ISO 20022 data-rich messaging standard.  Payments Canada is leading Canada’s multi-year payments modernization program, with an end vision of a fast, efficient, flexible and secure payment system that will promote...

Modest economic growth forecast for B.C. as tech sector expansion, LNG projects and rising population counter forestry sector downturn

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Vancouver, B.C., February 10, 2020 – British Columbia’s economy is forecast to grow by 2.8 per cent this year, broadly outpacing the other Canadian provinces, before easing back to 2 per cent in 2021, according to Central 1’s deputy chief economist Bryan Yu. In his latest British Columbia (B.C.) Regional Economic Report, Yu outlines the trends we can expect across...

Central 1 makes strides towards delivering Lynx to the credit union system; secures Lynx settlement account from the Bank of Canada

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Central 1 Credit Union (Central 1) has completed a significant milestone in preparing for and delivering on Payments Canada’s Payments Modernization Program by becoming the first and only institution in the credit union system to secure a Lynx settlement account from the Bank of Canada.   Payments Canada is leading Canada’s Modernization journey, which will ultimately lead to a fast, efficient, flexible and secure payment system that will strengthen...

Forging a new path in Digital Banking Experiences

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In 2019, we celebrated many milestones for Central 1, our champions, clients and the Forge tribe. For those of you who don’t know, the Forge slogan is “digital banking re-invented”, and we finally saw this come to life last year. By the summer of 2019, we launched all three Forge Retail products into market - the public website, mobile banking...

Employee Spotlight: Janet Vu

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Meet Janet Vu our Senior Product Marketing Manager and leader behind our Women In Tech events. This summer Central 1 hosted Women in Tech, an event to bring together women in Vancouver who work in the technology centre. On Women in Tech: "I love how it creates opportunities, relationships and brings together communities of talented women across Vancouver. When I...

Central 1 Selected as Digital Banking Partner of Choice by League Data

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Central 1’s Forge Digital Banking Platform offers Canadians an elevated digital experience in today's ever-evolving fintech landscape VANCOUVER, BC, January 9, 2020 – Central 1 is pleased to announce that League Data Ltd. - an organization providing information technology services and support to 46 credit unions in 140 locations across Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland and Labrador - has chosen...