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Central 1 paves the way for data-rich wire payments in Canada; among the first to offer full ISO 20022 functionality

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Canadian credit unions and financial institution clients now have access to greater payment efficiencies and innovation opportunities   Vancouver, B.C./Toronto, On, November 21, 2023 – Central 1, a leading financial services provider to Canada’s credit unions and financial institutions, has achieved a major milestone on its payments modernization journey that brings new features and functionality to wire payments. The full adoption...

Central 1 reports 2023 second quarter financial results

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Second quarter 2023 highlights (versus second quarter, 2022): Profit of $18.5 million, compared with loss of $26.2 million Net financial income of $42.2 million, compared with net financial expense of $25.3 million Return on average equity1 of 5.1 per cent, compared with negative 7.3 per cent Year-to-date 2023 highlights (versus year-to-date, 2022): Profit of $19.7 million, compared with loss of...

Central 1 reports first quarter financial results

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VANCOUVER, B.C. May 26, 2023 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit of $1.3 million for the first quarter (Q1) ended March 31, 2023, up $36.7 million from the same quarter one year prior. Q1 2023 results compared to Q1 2022: Profit of $1.3 million, compared to a loss of $35.4 million in Q1 2022...

Central 1 announces results from 2023 Annual General and Special Meeting

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For immediate release VANCOUVER, May 15, 2023 — Central 1 Credit Union (“Central 1”) is pleased to announce that all matters set out in the Information Notice, dated March 30, 2023, for the 2023 Annual General and Special Meeting held on April 26, 2023 (the ''Meeting'') were approved by members. Class A Members passed a special resolution approving amendments to Central 1’s Constitution...

Central 1 Announces Results of 2023 Director Election Process

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VANCOUVER, B.C., February 22, 2023 — Central 1 Credit Union (Central 1) is pleased to announce that four directors 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 April 26, 2023 (AGM). Four seats were available in this year’s election, two...

2023 Gary Gillam Award Nominations Now Open

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TORONTO, ON and VANCOUVER, B.C., February 10, 2023 – The Gary Gillam Award, jointly sponsored by Alterna Savings and Central 1 Credit Union (Central 1), is now open for nominations. The Gary Gillam award was established in 1996 and is awarded annually to recognize individuals within the British Columbia and Ontario credit union systems who have demonstrated co-operative values and made...

Emma Hider Joins Central 1 as Chief Financial Officer

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VANCOUVER, B.C., February 2, 2023 – Central 1 Credit Union (Central 1) is pleased to announce that on Monday, February 6, Emma Hider will join Central 1 as Incoming Chief Financial Officer, and will transition into the full role as Chief Financial Officer (CFO) on March 15, 2023. Emma joins Central 1 from HSBC Hong Kong where as a managing...

Central 1’s People Solutions to Move to Canadian Credit Union Association

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VANCOUVER, B.C., October 19, 2022  - Central 1 and Canadian Credit Union Association (CCUA), today announced the transition of Central 1’s human resources consulting agency People Solutions to be owned and managed by CCUA. With this transition, CCUA will provide a centralized resource to credit unions for People Solutions’ services. This decision comes after a long period of discussions between...

Central 1 Responds to Canadian Credit Union Association and Atlantic Credit Unions Call for Hurricane Fiona Support

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VANCOUVER, B.C., September 28, 2022 – In response to the destruction brought on by Hurricane Fiona in Atlantic Canada, the Canadian Credit Union Association (CCUA) and Atlantic Credit Unions have partnered to support relief efforts and are encouraging donations to the Canadian Red Cross to support hurricane victims.  As a member of the credit union system, Central 1 is pleased to...

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...