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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
21 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
23 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago