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Finding funding through mortgage underwriting: Momentum session spotlight

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In today’s changing economic environment, it’s difficult for credit unions to rely solely on member deposits for funding. Strategic mortgage underwriting has the potential to open up additional funding sources for credit unions– if they understand how to apply the rules and tools. The way credit unions underwrite mortgages now can set the stage for the funding options available to...

Credit unions have robust anti-money laundering practices in place

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The B.C. government recently announced plans to further investigate potential money laundering practices taking place in British Columbia. B.C. credit unions have robust anti-money laundering (AML) practices in place. In fact, all credit unions in Canada are required to adhere to strict regulations from the federal government that combat potential money laundering via financial institutions. Some of the AML measures...

Another ‘A’ Credit Rating for Central 1

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Respected global rating agency, Fitch Ratings, recently engaged by Central 1, reinforced our strong reputation in the financial industry with an ‘A’ rating in its most recent report, released publicly today. Along with Fitch, we’ve received credit ratings of A (high) from DBRS, and A- from Standard & Poor’s, allowing us to provide our members and clients with attractively priced...

Innovation Expert Named New Chief Digital and Payments Officer at Central 1

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Arvind Sharma Looks Forward to Creating Exceptional Customer Value and Experience VANCOUVER, August 30, 2018 – Central 1 Credit Union (Central 1) is pleased to announce the appointment of Arvind Sharma to the role of Chief Digital and Payments Officer, effective September 24, 2018. With a career history of working within financial institutions as well as their service providers, and a...

New products, services and strong financials mark Central 1 Q2 2018

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VANCOUVER, BC, August 24, 2018­ – Asset growth and improved return on average equity highlight Central 1 Credit Union’s (Central 1) performance in its second quarter 2018 financial results, announced today. During the quarter ended June 30, Central 1 continued to move forward with several strategic, client and member-focused initiatives, and invested attention and time into building on its current three-year...

Making Client Success the Priority: Focus for New Central 1 Business Leader

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Elizabeth Duke Joins Executive Team as SVP of Client Development VANCOUVER, August 23, 2018 – Putting clients first is the mandate of Central 1’s Senior Vice President of Client Development, Elizabeth (Buffy) Duke who starts immediately. “I believe that successful business relationships are about creating client value, not simply selling a product or service,” said Duke. “I look forward to working...

Creative and Innovative Payments Expert Named New Central 1 CFO

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Sheila Vokey Joins Central 1 to Provide Strategic Financial Leadership VANCOUVER, August 20, 2018 – A deep interest in supporting transformative organizational change through the finance function drew Sheila Vokey to the role of Chief Financial Officer at Central 1 Credit Union (Central 1), an appointment the organization is pleased to announce today. Vokey will begin her role at Central...

Central 1 Launches Canada’s First Authenticated Voice Banking Service

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Vancouver, BC – August 14, 2018 – Canada’s first-ever authenticated voice banking service using Amazon Alexa, launches from creator Central 1 today. Central 1 clients - Innovation Credit Union and Conexus Credit Union - are piloting the technology that allows customers to use their voice to command actions for their bank accounts, as if Amazon Alexa were a customer service...

Creativity and Central 1 Values Drive Team to Launch Alexa Skill

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It was the exciting challenge of creating a product that will revolutionize credit union member experience that drove the team at Central 1 to propose and demo an idea that’s the first of it’s kind to launch in Canadian financial services. And it originated with the development team, not in the board room. This week, Central 1 is pushing technology...

Central 1 is First to Market with Integrated Online Payroll for Canadian Small Businesses

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Small Business Payroll Launches Today with Prospera Credit Union Vancouver, BC - July 17, 2018 – Canada’s first small business payroll system integrated with online banking, offered by Central 1, launched with Prospera Credit Union today. Other financial institutions are expected to follow throughout 2018. Small Business Payroll is an innovation that will transform how Canadian small businesses operate by...