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Central 1 reports 2023 financial results

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VANCOUVER, B.C., MARCH 21, 2024 – Central 1 Credit Union (“Central 1” or the “organization”) reported a consolidated net income of $25.4 million for the year ended December 31, 2023, compared to a net loss of $69.6 million in 2022.  2023 consolidated results compared to 2022:  Net income of $25.4 million, compared to a net loss of $69.6 million in 2022. ...

Central 1 receives global recognition for its commitment to responsible investment

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  Central 1 is recognized for its leadership in the inclusion of social, environmental and governance factors in its investment strategies. Vancouver, B.C./Toronto, On. March 6, 2024 – Central 1 — a leading financial services provider and primary liquidity provider to Canada’s credit unions and financial institutions — is pleased to announce that it has achieved a score of over...

2024 Gary Gillam Award nominations now open

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TORONTO, ON and VANCOUVER, B.C., February 12, 2024 – 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...

Central 1 partners with Flinks to introduce open banking functionality to its credit union members and financial institution clients

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Vancouver, B.C./Toronto, On, January 24, 2024 – Central 1 — a leading financial services provider to Canada’s credit unions and financial institutions — is pleased to announce a strategic partnership with Flinks, Canada’s leader in the open, consent-based exchange of financial data. Through this partnership, Central 1 is taking an important step in enabling open banking opportunities and optionality in...

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...