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Central 1 reports 2024 third quarter financial results

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VANCOUVER, November 21, 2024 – Central 1 Credit Union (Central 1) today reported third quarter performance reflecting steady financial results across business lines, consistent with plans and expectations. “Our stable third quarter results were in line with our expectations,” said Sheila Vokey, Central 1’s President & CEO. “Central 1 continues to grow its critical payments, treasury and clearing and settlement...

Beyond reporting: A platform to understand and act on IFRS 9 Data

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The International Financial Reporting Standard 9 (IFRS 9) introduced the expected credit loss model which requires financial institutions to forecast potential future losses. This standard emphasizes compliance while encouraging a more integrated approach to data analytics and reporting. As it improves transparency and stability in the financial system, it also influences how organizations budget for future expenses and reserves. An...

Central 1’s Momentum 2024 concluded today

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How can financial institutions across the industry collaborate to enhance banking choices for Canadians? A panel discussion moderated by Sheila Vokey, Central 1’s President & CEO, kicked off this important conversation today. Together with Jay-Ann Gilfoy, President and CEO of Meridian; Wellington Holbrook, President and CEO of Vancity; Blair Wiley, Chief Legal Officer at Wealthsimple and Barclay Hancock, Chief of Payments...

Central 1’s Momentum 2024 kicked off today in Toronto, uniting industry leaders from across Canada

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Sheila Vokey, President and CEO of Central 1, opened the conference, setting the stage for two days of engaging discussions designed to foster collaboration and innovation. In a period of dynamic market change, Sheila reflected: “Despite the turbulence, we’ve also seen a lot of resilience and creativity from our system. Change is upon us all and we need to lean...

In conversation with Dan Kelly, President & CEO of CFIB: Navigating Canada’s small business landscape

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Small Business Week is here! Dan Kelly, President & CEO of Canadian Federation of Independent Business — Canada’s association for small and medium-sized companies — will join us next week at Momentum 2024. In anticipation of these two events, we spoke to him about key trends in the small business sector that financial institutions should prioritize to effectively support the...

International Credit Union Day Special: The future of cooperative banking through the eyes of young leaders

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The 2024 International Credit Union (ICU) Day is celebrated with World Council of Credit Unions’ theme of “One World through cooperative finance”. As the financial sector undergoes rapid transformation, attracting and nurturing young talent is crucial for our continued evolution. As we celebrate ICU Day, we spoke with Chris Inniss, President & CEO of Mainstreet Credit Union, and Rachel Palaci,...

Building a resilient defense: cyber security considerations for your organization

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October is Cyber Security Awareness Month in Canada. For Central 1, cyber security is something we think about and work on all year round. This month, we're exploring the current cyber landscape, as well as the essential cyber security topics that leaders should consider when evaluating their organization's readiness and cyber resiliency.   The cyber security landscape – what you...

Advancing the future of payments: Interview with Kristina Logue, Payments Canada’s CFO

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In anticipation of Momentum 2024 in October, we’re shining the spotlight on many of the expert speakers joining us at the conference. Kristina Logue, Payments Canada’s CFO, will join a panel discussion to explore the emerging innovations and shifts in the future of Canada’s payments landscape. Kristina is the Women in Payments’ 2024 Inspiration Award recipient. She is celebrated as a beacon...

Go for gold: Unlock the winning investment of precious metals

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This summer, Team Canada brought home nine gold medals from the Paris Olympic Games, part of the country’s second-highest medal count at an Olympic Summer Games. In the case of the Paris winning medals, each boasts six grams of pure gold covering a solid silver disk, with, in this case, the added flourish of an iron piece from the Eiffel...

Embracing uncertainty: Carol Ann Northcott discusses risk management innovation ahead of Momentum 2024

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In anticipation of Momentum 2024 in October, we’re shining the spotlight on many of the expert speakers joining us at the conference. This time, it’s our very own Carol Ann Northcott, Chief Risk Officer at Central 1. We took the opportunity to speak with Carol Ann to gain insights into the current risk environment and learn more about her participation...