(April 6 – 13:05 ET) Credit Union Central Alberta Limited had record results in 2000, with its assets exceeding the billion dollar mark for the first time.

Owned by Alberta Credit Unions, Central acts as the central banking facility and trade association for the Credit Union System.

Central ended the year at just under $1.1 billion, up 28% from 1999. Net income before taxes and dividends was $10.9 million, up over 36% from 1999. Just over $8.2 million was returned to credit unions in the form of share and patronage dividends.

Central has made a new technology investment in its payments operations. It will be installing a Transaction Imaging System in 2001-2002, making Alberta and Saskatchewan Credit Unions the only financial institutions in Canada with this suite of services. Transaction Imaging uses state of the art technology to capture images of paper payment items as they are processed.

Credit unions and their members will receive the benefits of online account research complete with cheque images, statements with imaged cheque enclosures, and electronic statement delivery.
-IE Staff