As the trade association and central bank for the credit unions of British Columbia, Central represents the largest regional financial network in Western Canada and the strongest credit union system in English-speaking Canada. Owned and funded by our stakeholders, we exist to serve their needs through provision of essential and discretionary services.
Central is financially strong, efficiently managed and maintains an excellent credit rating. Our services are delivered through staff and management dedicated to fostering the strength and growth of BC's credit unions.
Central's President & Chief Executive Officer is appointed by the Board of Directors and serves as head of an executive management team organized as follows:
Central's Board of Directors is composed of 11 elected or appointed representatives of our member credit unions and co-operatives.
Seven of these directors are elected to represent "peer groups," which are formed by clustering credit unions on an asset-size or regional basis. Four are appointed by Central's two largest member credit unions, each of which holds more than 15 percent of Central's outstanding capital.
Members of Central's executive management team do not sit on the Board; it is composed entirely of "external" directors.
At fiscal year-end 2005, four of Central's 11 directors were credit union presidents, CEOs or general managers; the other seven were directors of various local credit unions.