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Central 1 Reports 2022 Second Quarter Financial Results

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VANCOUVER, B.C., August 26, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $26.2 million for the second quarter (Q2) ended June 30, 2022. “Central 1’s second quarter results reflect the impact of increasing market yields in the Canadian fixed income market,” said Sheila Vokey, Central 1 President & CEO. “While global economic challenges...

Payments Modernization in Action: Supporting Emergency Payments in B.C.

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Central 1 is pleased to recognize the Province of BC’s (the Province) recent announcement about the availability of Interac e-Transfer as part of its upgrades to Emergency Support Services (ESS). The achievement demonstrates the benefits of leveraging modernized payments to support Canadians’ increasing demand for digitally enabled payment choices. As a financial institution headquartered in Vancouver, B.C., Central 1 knows...

Lighthouse Credit Union Joins Central 1

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Vancouver, B.C., June 29, 2022 – Central 1 is pleased to announce their newest Ontario member — Lighthouse Credit Union based out of Toronto, effective June 18, 2022. Newly formed Lighthouse Credit Union was created to serve the Greater Toronto Area’s Jewish community with a focus on making home ownership in Jewish neighbourhoods more accessible through competitive residential mortgages, everyday...

Central 1 Reports 2022 First Quarter Financial Results

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VANCOUVER, B.C., May 27, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $35.4 million for the first quarter (Q1) ended March 31, 2022. Central 1’s reported results are reflective of the impact of widening credit spreads on the mark to market valuation of its Treasury securities portfolio as compared to its deposit funding. Total...

Central 1 Announces Voting Results from 2022 Virtual Annual General and Special Meeting

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Vancouver B.C., May 5, 2022 – Central 1 Credit Union (“Central 1”) announced the voting results from its 2022 virtual Annual General and Special Meeting (AGM) held on May 3, 2022. Class “A” Members passed two of three special resolutions approving amendments to Central 1’s Constitution and Rules (“Rules”) on an electronic ballot. Also approved, by ordinary resolution on an electronic...

Alterna Savings and Central 1 announce the 2022 Gary Gillam Award Recipients

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TORONTO, May 3, 2022 – Alterna Savings and Central 1 Credit Union (Central 1) are pleased to announce Frank Chisolm, Director of Brand and Marketing at Kindred Credit Union and Earl Campbell, Board Member of Alterna Savings, as the recipients of the 2022 Gary Gillam Award. Jointly sponsored by Alterna Savings and Central 1, the Gary Gillam Award for exemplary...

2021 Central 1 Annual Report Available Now

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The interactive 2021 Central 1 Annual Report is now available online! 2021 was a year of improved clarity for Central 1. We adapted with resilience and a renewed focus on enabling credit unions and organizations that provide financial choice to Canadians. We introduced a new CEO, Board Chair and a new three-year corporate strategy designed to guide our work towards...

Central 1 launches Canada’s first Treasury Knowledge Centre for credit unions

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Vancouver B.C., April 5, 2022 – Central 1 is excited to launch the Treasury Knowledge Centre, a one-stop resource available to all Central 1 treasury members and clients and the first of its kind in Canada for credit unions. The Treasury Knowledge Centre provides access to the latest market insights and trends, treasury product knowledge and training, education resources and news...

Central 1 waives wire processing fees to Ukraine and neighbouring countries

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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...

Central 1 Announces Results of 2022 Director Election Process

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VANCOUVER, B.C., March 14, 2022 — Central 1 Credit Union (Central 1) is pleased to announce that three directors – including two new to the Board – have been declared elected by acclamation to Central 1’s Board of Directors and will begin three-year terms following the conclusion of Central 1’s annual general and special meeting on May 3, 2022 (AGM). Three...