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Central 1 reports 2021 third quarter financial results

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VANCOUVER, B.C., November 26, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit from continuing operations of $41.0 million for the first nine months of 2021, an increase in profit of $18.2 million for the first nine months of 2021, compared to the same period last year. For the third quarter (Q3) ended September 30,...

Join Central 1 and Canadian credit unions in our support for the Canadian Red Cross and BC flood relief and recovery efforts

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VANCOUVER, BC, November 24, 2021 – As community-based financial institutions with deep roots in the areas we serve, credit unions have a long history of coming together to support Canadian communities. Recently, a severe storm occurred resulting in flooding, landslides, mudslides, power outages and other incidents across the South Coastal and Interior regions of British Columbia. With relief and recovery...

Central 1 Unveils Latest Digital Banking Experience on Forge Digital Banking Platform with First West Credit Union  

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VANCOUVER, BC, November 18, 2021 – Central 1 is pleased to announce the successful launch of the latest versions of Online Banking, Mobile App and Small Business on the Forge Digital Banking Platform. Achieved with First West Credit Union across all of its regional brands: Envision Financial, Valley First, Island Savings and Enderby & District Financial, these milestones further position the platform as a leading digital solution for financial...

B.C.’s economic recovery led by private sector growth and robust real estate market, while dependent on pandemic trajectory and global economic landscape

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Vancouver, B.C., October 21, 2021 – Highlights: B.C.’s economic recovery pace dependent on the evolution of the pandemic and a resolution of supply chain disruptions; Private sector to lead province’s economic growth with technology and professional services to excel; Real estate market to remain robust as demand continues, but home sales to decline by 15 per cent in 2022 after...

Central 1 Announces Change in Digital & Payments Leadership

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Vancouver, B.C., October 6, 2021 – Today, Central 1 announced that Arvind Sharma will be moving on from his role as Chief Digital and Payments Officer. Effective upon his departure, Mark Derraugh has been appointed Interim Chief Payments and Digital Banking Platforms & Experiences (DBPX) Officer. “Over the last three years, Arvind has led several key initiatives including Payments Modernization...

Central 1 and Fiserv to deliver state-of-the-art payments processing capabilities in Canada

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VANCOUVER, B.C., September 14, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions, today announced it has selected Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, as its strategic partner for delivering state-of-the-art payments processing capabilities for the Canadian market. Central 1 is an integral member of...

Central 1 reports 2021 second quarter financial results

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VANCOUVER, B.C., August 20, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported an increase in profit of $25.6 million for the first half of 2021, compared to the same period last year. For the second quarter (Q2) ended June 30, 2021, profit after tax was $3.5 million compared to a profit of $39.9 million in the...

Central 1 reports 2021 first quarter financial results

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VANCOUVER, B.C., May 28, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $24.7 million for the first quarter (Q1) ended March 31, 2021, compared to a loss of $37.3 million in the same period in 2020. In the first quarter of 2021, Central 1 reported strong results driven by the organization’s...

Central 1 reports fourth quarter and 2020 results

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VANCOUVER, B.C., February 26, 2021 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $36.1 million for the year ended December 31, 2020, a $1.9 million increase in profit after tax of $34.2 million in 2019. Central 1 has consistently maintained strong operational resilience to support credit unions in B.C. and Ontario. In...