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
Yesterday, #creditunions across the country encouraged members to #gogreen on #EarthDay http://t.co/boBamaLJoh #greenliving
1 hours ago
As ticket prices for sporting events soar, #creditunions are pitching in to drive down costs for members http://t.co/EgrrtkVlgt
2 hours ago
Shodair Children's Hospital in MT receives #NCUF @BizKidsTV, thanks to @mtcus4you http://t.co/oxGAbqpU5h
3 hours ago
Buy me some peanuts and Cracker Jack ... on a budget, says @NW_Banking, See #NewsNow http://t.co/ddBEQ0BblR
3 hours ago
.@CUNA leaders discuss #creditunion housing finance reform policy issues @WhiteHouse http://t.co/2O0pFr5nxg
3 hours ago