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
.@CUNAMutualGroup Klewin shares final thoughts, forecast on lending regulations with @cumagazine before retiring http://t.co/v78QY3QwqB
51 minutes ago
Current @CUNA COO @JillTomalin promoted to deputy chief of staff
1 hours ago
#CU Effect:@ChartwayFCU 'branch of the future' 2 benefit members, staff. 2nd installment of new News Now series here:http://t.co/ImBY4nupEj
2 hours ago
U.K. regulators have given formal authorization for the @c_of_e to form a #creditunion.
2 hours ago
#BREAKING: Fed remaining 'patient' on rate-hike decision, keeps 'considerable time' in policy statement #Market http://t.co/XykelROtcA
2 hours ago