Financial Results

Central 1  /  In the News  /  Financial Results

Central 1 reports 2023 third quarter financial results

Posted on
Third quarter 2023 highlights (compared with third quarter, 2022): Net income of $3.9 million, compared with net income of $1.3 million Net interest income of $19.6 million, compared with net interest income of $21.5 million Return on average equity1 of 1.6 per cent, compared with 0.5 per cent Year-to-date 2023 compared with year-to-date 2022: Net income of $23.6 million, compared...

Central 1 Reports 2022 Financial Results

Posted on
VANCOUVER, B.C., March 3, 2023 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a loss of $69.6 million for the year ended December 31, 2022, compared to a profit of $45.4 million in 2021. “Our 2022 financial story is reflective of the challenging market conditions during the year which has resulted in unrealized losses on our fixed income...

Central 1 Reports 2022 Third Quarter Financial Results

Posted on
VANCOUVER, B.C. November 24, 2022 – Central 1 Credit Union (‘Central 1’ or ‘the organization’) reported a profit of $1.3 million for the third quarter (Q3) ended September 30, 2022. “We continue to support our members and clients through the effects of a slowing global economy and resulting consumer behaviours,” said Sheila Vokey, Central 1’s President and CEO. “While our year-to-date...

Central 1 Reports 2022 Second Quarter Financial Results

Posted on
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...

Central 1 Reports 2022 First Quarter Financial Results

Posted on
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...