Central 1 Credit Union's President and CEO Sheila Vokey will retire effective September 4, 2026, concluding a five-year tenure marked by modernization in the payments and credit union sector. The Board of Directors has initiated a comprehensive process to select a new permanent President and CEO, retaining Massey Henry to conduct the executive search. The leadership transition comes as the organization seeks to build on recent momentum and expand its role as a national leader in Canadian payments and treasury.

Vokey informed the Board of her decision to step down, expressing pride in the team's accomplishments and confidence in the organization's future direction. During her tenure, she led Central 1 through a period of rapid transformation, positioning the credit union for growth and scalability. The Board acknowledged her contributions, noting that the organization is well-positioned to deliver for its members and clients.

Shawn Neumann, Chair of the Board of Directors, will lead the CEO Selection Committee. The committee is tasked with identifying a successor who can continue to drive Central 1's strategic objectives. The organization serves credit unions and financial institutions across Canada, providing payments, clearing and settlement, and treasury services.

Central 1 reported assets of $9.2 billion as of March 31, 2026. The organization supports more than 5 million diverse customers through its network of clients, focusing on financial well-being and cooperative empowerment. The leadership transition is expected to maintain stability as the search for a new CEO progresses.

The Board emphasized that Central 1 is at a pivotal moment in its evolution, with strong partnerships and a solid foundation to support future growth. The organization remains focused on scaling its operations and enhancing services for the credit union system.

Central 1 Credit Union announced that it will redeem all of its issued and outstanding Series 7 Subordinated Notes on June 30, 2026. The notes, which are due on June 30, 2031, will be redeemed at par value. This decision allows the financial institution to manage its capital structure ahead of the original maturity date.

The redemption price per Note is equal to par, together with accrued and unpaid interest up to, but excluding, the date of redemption. The Notes became redeemable at Central 1's option on or after June 30, 2026. Formal notice regarding this redemption will be delivered to Noteholders in accordance with Central 1's Eighth Supplemental Trust Indenture.

Central 1 cooperatively empowers credit unions and other financial institutions that deliver banking choice to Canadians. As of March 31, 2026, the institution reported assets of $9.2 billion. It provides payments, clearing and settlement, and treasury services to support the financial well-being of more than 5 million diverse customers across Canada.