The Hub: News & Events for March 14, 2019

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Central 1 News you need to know

B.C. economy faces the ripple effect of the housing downturn
In this latest economic forecast, providing a deep dive into current economic trends, Central 1 Deputy Chief Economist, Bryan Yu says that economic growth is being held hostage by the housing market slump, which is deeper than previously forecast. B.C.'s economy will face weak economic growth for the next three years. 

Payment Solutions Manual: Central 1 File Specifications Part Update 
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We updated the Central 1 File Specifications Part to reflect the changes to Canadian AFT Clearing Files for BC and Ontario for the AFT 3rd file exchange. This corresponds with the same changes that were previously published in other Parts of the Payment Solutions manual with Release 18:24, Automated Funds Transfer (AFT) 3rd File Exchange Updates. 


Central 1 Events

March 26, 2019 
2019 Spring Contact Meeting: Ottawa 
Alterna Savings Boardroom 
Ottawa, ON

March 27, 2019 

2019 Spring Contact Meeting: London 
Four Points by Sheraton  
London, ON 


March 28, 2019 

2019 Spring Contact Meeting: Toronto 
Toronto Airport Marriott Hotel 
Toronto, ON

April 24-25, 2019
Central 1 Member Forum
Sheraton Vancouver Wall Centre

April 25, 2019
Central 1 AGM
Sheraton Vancouver Wall Centre

September 8-10, 2019
Momentum Summit & Trade Show
Westin Harbor Castle, Toronto

(Save the date)
Button to Credit Union Careers
Button to Central 1's Economic Insights
Button to our Annual Research Package

Industry News

Credit unions
Kingston Community Credit Union shares its profits with members: Local financial cooperative records strong growth in 2018 (Press release)

Personal finance
Statistics Canada says household debt grew faster than income in fourth-quarter (CBC)

Canadians' Net Worth Slides Amid Falling Stocks, Historic Drop In Real Estate (Huffington Post)

Consumer debt stabilizing, but Canadian banks face 'significant' risk if economy goes south, Moody's warns (Financial Post)

Bank of Canada to hold interest rates through 2020: TD Securities (BNN Bloomberg)

Federal budget expected to have more wiggle room, even with weaker outlook (BNN Bloomberg)

Canada's Big 5 bank CEOs pay rises 6.5% to $54M in 2018 (CBC)

Housing affordability is getting worse even though prices are falling. How is that possible? (Financial Post)


Industry Events

March 27-29, 2019
Ontario Credit Union Conference
Toronto Airport Marriott Hotel

April 23, 2019
Credit Union Foundation of BC AGM (2:00 pm)
Stabilization Central Credit Union of B.C. AGM (3:00 pm)
Sheraton Vancouver Wall Centre
(Save the date)

May 5-8, 2019
2019 National Conference for Canada's Credit Unions
Winnipeg Convention Centre

September 15-17, 2019
CULA Conference
White Oaks Conference Resort
Niagara-on-the-Lake, ON
(Save the date)

October 21-22, 2019
Everlink Connections 2019
Hilton Toronto
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Central 1 Credit Union, All rights reserved.

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