Central 1 Credit Union welcomes ATB Financial, the largest user of its Bill Payment Processing Services
Landmark move by ATB illustrates to financial institutions that Central 1’s products and services are not just for credit unions
VANCOUVER, BC (May 1, 2018) — Today, Central 1 Credit Union (Central 1) announces that ATB Financial, the largest Alberta-based financial institution, has procured Central 1’s Bill Payment Processing Services, making them the largest non-credit union financial institution to utilize the service. ATB Financial has selected Central 1 because of its outstanding track record of providing wholesale financial products, services and digital banking solutions to nearly 300 Canadian credit unions and other financial institutions. This exciting move by ATB, coupled with a suite of new product and service rollouts from Central 1, marks a milestone year for the Vancouver-based organization and fintech leader.
“As industry leaders and experts in bill payment processing, we’re thrilled to be able to provide our services to the ATB Financial community,” said Mark Blucher, President & Chief Executive Officer, Central 1 Credit Union. “Providing these services demonstrates Central 1’s ability to serve larger scale financial institutions that want both top of the line products and unparalleled service and delivery. We’re poised to continue to serve credit unions and financial institutions of every size.”
Central 1, with market-leading speed, innovation, and expertise, offers full-service technology solutions for financial institutions of any size. ATB Financial is composed of 318 locations, more than 5,000 team members, 700,000 plus customers, and $50.7 billion in assets. The addition of ATB as a client illustrates Central 1’s emerging value as a product and service provider for not just credit unions, but large financial institutions.
“We chose to adopt Central 1’s Bill Payment Processing Services as it provides our customers the ability to pay a wide range of companies, allowing us to serve them better,” said Wellington Holbrook, Chief Transformation Officer, ATB Financial. “Central 1’s full suite of offerings enabled ATB to continue to deliver frictionless experiences across banking channels to customers.”
Central 1’s Bill Payment Processing Services includes full support for proprietary bill payment and electronic Corporate Creditor Identification Number (commercial) remittance processing, services that the organization has provided for over 25 years. ATB’s utilization of the commercial remittance processing marks an important expansion of ATB’s service offerings, as this will enable ATB clients, such as businesses or municipalities, to streamline and consolidate customer bill payments made via online banking. For more information about Central 1’s Bill Payment Processing Services, please visit www.central1.com/digital-payments/payment-processing-solutions.
About Central 1 Credit Union
Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $10.9 billion as of September 30, 2023, Central 1 provides critical
services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than five million diverse customers in communities across Canada. For more information, visit www.central1.com.
About ATB Financial
With assets of $50.7 billion, ATB Financial is Alberta’s largest home-grown financial institution. Established in 1938, ATB is a network of 176 branches, 142 agencies, a Customer Care Centre, three Entrepreneur Centres, along with mobile and online banking. ATB’s more than 5,000 team members help more than 750,000 customers in 247 Alberta communities. For more, visit www.atb.com or www.atbalphabeta.com
