The Hub: News & Events for April 15, 2019

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April 15, 2019


Central 1 News 

Analysis: 2019 Ontario Budget: Protecting What Matters Most
Tabled on April 11 as the first budget under the helm of the new conservative government, the budget policies were aimed at key groups including students, seniors, families and business owners.  Highlights:
  • Government to run declining deficits from 2018-19 to 2022-2023 before balancing the books by 2023-24
  • No new taxes announced in 2019 Ontario Budget
  • Fiscal 2019/20 deficit pegged at $10.3 billion
  • The net-debt to Gross Domestic Product (GDP) ratio will remain above 40 per cent as the government runs deficits and modest economic growth puts downward pressure on GDP growth.
  • Government forecasts economic growth of 1.7 per cent over forecast period, down from an annual average of 2.4 per cent from 2016 to 2018.

B,.C. Economic Briefing
  • B.C. urban housing starts decline 32.5k saar units in March
  • Teranet home price index drops again
  • Non-residential building intentions rise
  • Motor vehicle sales weak to start 2019

Ontario Economic Briefing
  • Large gains in metro markets lifted Ontario's total housing starts in March
  • A general decline in non-residential activity dropped permit volumes by 7.9 per cent in February
  • Ontario's economic growth at a slower rate in the fourth quarter of 2018
Central 1 Events

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
Northern Credit Union Announces New President and CEO (Press release)

Libro Credit Union announces record profits at 2019 Annual General Meeting (Press release)

SASCU powers Innovation Centre: Credit union contributes $125,000 with 10-year sponsorship agreement (Salmon Arm Observer)

Parents need to plan carefully if they are going to help their kids buy a house (Financial Post) - features BlueShore Financial CEO Chris Catliff 

How the Ontario 2019 budget will affect families across the province (Global News)

How to prepare the economy for the baby boom bust: Don Pittis (CBC)

Business sentiment softens amid uncertainty: Bank of Canada survey (BNN Bloomberg)

Bank of Canada's Poloz Reinforces Perception Rates Are on Hold (Bloomberg)

Canadian dollar's bullish 2019 run may soon run out of fuel (BNN Bloomberg)


RBC adds photo bill pay and debit card lock to mobile app (FinExtra)


As cashless stores grow, so does the backlash (Canadian Business)

Housing/Real Estate
Average house price has fallen by almost 2% to just over $480,000 in past year, CREA says (CBC)


Industry Events

April 23, 2019
Credit Union Foundation of B.C. AGM 
Stabilization Central Credit Union of B.C. AGM 
Sheraton Vancouver Wall Centre

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

May 7-9, 2019
Enhancing Business Performance through Co-operative Management Strategies
Saint Mary's University
Winnipeg, MB

June 9-14, 2019
CanadaDE Credit Union Leadership Program
Saint Mary's University
Halifax, NS

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

October 3 – 5, 2019
35th Annual Credit Union Directors' Forum 
"Good Governance: The Future of Ontario's Credit Unions"
Hilton Mississauga/Meadowvale

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

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