So much has happened in the last week. I hope you are safe, healthy and managing as best you can. I want to commend you for the incredible adjustments you have made to your organizations in order to support your employees, members and customers. Central 1 pandemic readiness and response As I mentioned in my update to you last Monday, Central 1 has moved most...

With the evolving situation around COVID-19, Central 1 is well-positioned to support you in meeting your reporting and analytical needs for IFRS 9.   Central 1’s IFRS 9 Platform is a loan loss model that provides modelling capabilities in addition to pre-formatted and populated reports to support your regulatory and financial statement disclosures.    Our model updates economic parameters and incorporates expertise from our economics team, including commentary and forecasts. This enables you to...

As a primary liquidity provider to the system, Central 1 manages our portfolio to ensure it has appropriate levels of liquidity to support the system during times of stress. We are well-positioned to support you and have a number of treasury programs to help you navigate these highly unusual times. Our Treasury team is closely monitoring financial markets and the...

These are unprecedented and challenging times for everyone, and the health and well-being of our employees, members, clients, and communities are a top priority for Central 1. We are confident in our ability to maintain essential products and services, and to protect our critical business functions with limited disruption to Central 1, our credit union system and our clients. With...

Central 1 Update on COVID-19 Response Member Forum cancelled; AGM will be virtual This is an unprecedented time in Canada – and in the world – where issues and challenges are developing on an almost daily, if not hourly, basis. Like all of you, our team at Central 1 has been closely monitoring the evolving situation around COVID-19. The health and...

Colleagues,  With growing concerns and impacts of COVID-19, I wanted to provide you with an update on Central 1’s response and actions to date and our commitment to you going forward. These are unprecedented and challenging times for everyone, and the health and well-being of our employees, members, clients, and communities are a top priority for Central 1.   First and foremost, I want to reassure you that Central 1 is ready to maintain...

VANCOUVER, March 9, 2020 — Central 1 Credit Union (Central 1) is pleased to announce that four directors – including two new to the Board – 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 meeting on April 28, 2020 (AGM). Four seats were...

Vancouver, B.C., February 19, 2020 – The Gary Gillam Award for social responsibility is now accepting nominations for exemplary individuals within the Ontario and British Columbia credit union system who have achievements in either promoting social responsibility and/or sustainability in credit unions; and/or promoting credit unions as a socially responsible investment alternative. The award is jointly sponsored by Alterna Savings...

Central 1 has signed an agreement with an innovative fintech in the payments space, Expertus, to ensure it meets Payments Canada’s 2021 timelines for the rollout of Lynx (Canada’s new high-value payments system) and the forthcoming ISO 20022 data-rich messaging standard.  Payments Canada is leading Canada’s multi-year payments modernization program, with an end vision of a fast, efficient, flexible and secure payment system that will promote...

Vancouver, B.C., February 10, 2020 – British Columbia’s economy is forecast to grow by 2.8 per cent this year, broadly outpacing the other Canadian provinces, before easing back to 2 per cent in 2021, according to Central 1’s deputy chief economist Bryan Yu. In his latest British Columbia (B.C.) Regional Economic Report, Yu outlines the trends we can expect across...