Central 1 Credit Union

BC Co-op Membership Profile |

Central 1 Credit Union is the central financial facility and trade association for the B.C. and Ontario credit union systems. It’s an “umbrella organization,” representing retail financial institutions that serve 2.8 million members and hold more than $60 billion in assets.

Central 1 Credit Union is the central financial facility and trade association for the B.C. and Ontario credit union systems. It’s an “umbrella organization,” representing retail financial institutions that serve 2.8 million members and hold more than $60 billion in assets.

Owned and funded by our credit union stakeholders, we operate on multiple levels to advance their goals — from functioning as the system’s wholesale financial arm and technology supplier to providing the full range of trade association and development services. Our organization is financially strong and innovative, with a record of progressive management and an excellent credit rating.

From headquarters at the Credit Union Centre in Vancouver, B.C., and an office in Mississauga, Ont., Central 1 provides leadership and support to a network that operates nearly 875 retail branches in the two provinces. As the official voice of B.C. and Ontario credit unions, we also represent their interests through ties to Credit Union Central of Canada, other provincial centrals, federal and provincial regulatory agencies and various affiliated organizations providing insurance, technology, education and wealth management services.

Credit unions are co-operative financial organizations – much like banks in their physical appearance, services and operations. There are, however, major differences. Credit unions are owned by their members (customers). Any member has the opportunity to participate in the development of operating policies by serving as a credit union director or as a member of a credit union committee.

Each credit union is autonomous, operated by management appointed by its Board of Directors. The directors are elected by credit union members.

A key principle in the operation of a credit union is that each member, regardless of financial involvement, is entitled to an equal say in electing directors. This co-operative principle ensures that credit unions remain accountable to their members.

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