An increase in assets and return on average equity helped Central 1 Credit Union have a banner 2012 thanks to a strong return on its investment portfolio.
That's according to the cooperative, which is the central financial facility and trade association for the 44 British Columbia and 97 Ontario credit unions in Canada. Central 1 serves the systems' 3.2 million members and holds $86.2 billion in assets.
"The gains over last year were due largely to improved investment results and the reversal of unrealized losses from last year," said Don Rolfe, president/CEO of Central 1, who announced on March 21 that he will step down on July 31.
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