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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...

Central 1 and ASAPP partner to deliver Integrated Account and Lending Origination for Forge Digital Banking Platform Clients

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VANCOUVER, BC and TORONTO, ONT, September 3, 2020 – Central 1 and ASAPP Financial Technology are partnering to release a new widget utilizing the Forge Archetype 2 (secure authenticated container) format, in support of the ASAPP 11.0 account and lending origination product release. This contribution will simplify certain activities such as new account setups and loan applications, making for a...

Central 1 reports 2020 second quarter financial results

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VANCOUVER, B.C., August 21, 2020 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit after tax of $72.0 million for the second quarter (Q2) ended June 30, 2020, compared to a profit after tax of $12.7 million in the same period in 2019.   Following the extreme widening of credit spreads in the first quarter of 2020, Central 1’s second quarter financial performance was positively impacted by a significant narrowing of these spreads, which led...