Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Canadas Central 1 CU restates financials
VANCOUVER, B.C. (6/3/09)--Canada’s Central 1 CU announced that it has restated its 2008 financials. Central identified an error in its reporting, which led the credit union to overstate its 2008 net income by $3.2 million. The restatement reduces net income for 2008 to $26.6 million from $29.8 million. Net income, however, still represented a 9% increase over 2007. The amount transferred to retained earnings for 2008 is restated at $20.9 million, compared with the $24.1 million previously reported. Restated retained earnings at year-end 2008 were $188.1 million. Central’s Management’s Discussion and Analysis for 2008 and its 2008 Annual Report have been revised to reflect the changes. Central 1 CU provides services to credit unions in British Columbia and Ontario.


RSS print
News Now LiveWire
Social media use helps CUs establish credibility/authenticity says Amaia Stecker, @CUNA sr. social media media mangr. http://t.co/wWAPeDe7UW
10 minutes ago
#creditunion affinity card programs make the grade for schools See #NewsNow http://t.co/TThZIvMRTO
13 hours ago
Home-price appreciation softens further in July #NewsNow #Market http://t.co/0MXVy9sby0
15 hours ago
.@ChartwayFCU charitable arm, the We Promise Foundation, has reached the $1M fundraising milestone in a single year for the first time
16 hours ago
.@mncreditunions' Mark Cummins shares CU difference with @KIMTNews3 http://t.co/gkarhZxDRF
17 hours ago