Central 1 is excited to launch its Payments Customer Advisory Council (the Payments Council); a collaboration between Central 1 and our existing B.C., Ontario and Atlantic payments clients, designed to ensure their voices are included in shaping the new payments infrastructure, products and services required to achieve compliance with Payments Canada’s modernization initiative and create opportunities for innovation.  “Central 1 values our position as a trusted payments partner to the credit union system and within the overall Canadian financial services industry,”...

Central 1 People Solutions’ 2020 Canadian Credit Union Compensation Survey Executive and Non-Executive Reports are now available.  Our compensation survey serves as an effective planning tool for credit unions to benchmark compensation against your comparable peer groups. In addition, it enables you to design a competitive compensation strategy that aligns compensation goals to the market.   People Solutions’ comprehensive database represents over 120 credit unions across Canada and has over 70 benchmark positions, covering executives (including...

Toronto, ON, October 29 2020 – After an initial burst in activity since the restart in summer, the Ontario economy has started to settle into a muted recovery and will not see pre-pandemic levels of activity until early to mid-2022, according to Central 1 Regional Economist Edgard Navarrete. In Central 1’s latest Ontario Economic Analysis, Navarrete said: “Annual real gross...

Vancouver, B.C., October 26, 2020  – After a remarkable 23 years as Central 1’s Chief Economist, Helmut Pastrick, who is synonymous within the credit union system, has decided to retire by the end of the year.   Helmut joined Credit Union Central of BC (now Central 1 following the merger of B.C. and Ontario Centrals) as Chief Economist in 1997 following many years working for Canada Mortgage and Housing Corporation. Helmut...

Vancouver, B.C., October 5, 2020 –  As more and more individuals and businesses accelerate their use of digital payments, Central 1 Credit Union (Central 1), has seen an almost 50 per cent year-over-year increase in the number of Interac e-Transfer® transactions it has processed on behalf of Canadian credit unions and other financial institutions in the six months since COVID-19 was declared a pandemic. Prior to the COVID-19 pandemic, Central 1 was already seeing significant growth in Canadians’ use of Interac e-Transfer transactions and other types of electronic payments. However, pandemic restrictions have accelerated the shift from paper to digital payments. In March 2020,...

VANCOUVER, B.C. October 2, 2020 - Central 1 Credit Union (“Central 1”) is pleased to announce that its members have passed a special resolution approving amendments to its Constitution and Rules (“Rules”). The amendments were proposed in connection with the plan to legally segregate the mandatory liquidity pool (the “MLP Segregation Plan”) as previously announced by Central 1. The amendments...

VANCOUVER, B.C., October 1, 2020 – Central 1 (or ‘the organization’), alongside institutional investors managing more than $2.3 trillion in assets, has signed the Canadian Investor Statement on Diversity & Inclusion, a new initiative coordinated by the Responsible Investment Association (RIA).  As a signatory to the statement, Central 1 acknowledges the existence of systemic racism and its impacts on Black and Indigenous communities and People of Colour in Canada and globally. Central 1 also recognizes the existence of inequities and discrimination with...

Central 1’s Forge Digital Banking Platform offers Canadians a seamless digital user experience designed to keep financial institutions on the cusp of innovative trends VANCOUVER, BC, September 9, 2020 – Central 1 is pleased to announce that FirstOntario Credit Union has officially entered a new multi-year commitment on the Forge Digital Banking Platform, further establishing Forge as the digital solution...

In consideration of the guidelines outlined by the public health authorities, Central 1 has decided to cancel this year’s Momentum Conference. All Central 1 in-person events and conferences have been suspended for the foreseeable future. The health and well-being of our employees, members, clients, and communities are a top priority for Central 1. Although we cannot gather in-person at the...