Table of Contents
Account Services
4
Savings Services
7
Youth Services
8
Student Services
9
Electronic Services
10
Lending Services
12
Credit Card Services
14
Investment Services
16
Insurance Services
18
Credential Financial Strategies 19
Summerside Main Office
General Manager Sarah Millar 888-5524
Operations Manager Shane MacKinnon 888-5551
Marketing Su Rogers 888-8718
Special Projects Linda Hardy 888-5528
Commercial Lending Steve Boyd 888-5548
Garnet Gibson 888-5536 Amanda Murphy 888-5543
Consumer Lending Sandra Reeves 888-5529
Keith Johnston 888-5523 Pete Peters 888-5544
Financial Services
and Canada Student Loans
Barb Murphy 888-5540 Sandra Hickey 888-5547 Tyler Doucette 888-5532
Investment Services Janet Grady 888-5549
Administrative Services Judy Winchester 888-5546
Norma Dugay 888-5533 Kelly Culleton 888-5527 Tanya Bernard 888-5539 Debi Gallant 888-5542
Summerside Main Office
Receptionist Nancy Clark 436-9218
Member Services Manager Debbie MacLean 888-5535
Member Services Nick Clow 888-5525
Dawn Coughlin 436-9218 Ann Ellis 436-9218 Laurie Hickey 436-9218 Vickie MacLellan 888-5538 Jason Martyris 436-9218
Mary Lou Profitt 436-9218
John Smallwood 436-9218 Deanna Walsh 436-9218 Commercial Teller 888-5556 Drive-Thru 888-5537 Fax 436-7979
Borden-Carleton Branch
Branch Manager Jason Coady 855-3600
Consumer Lending Sally Paynter 855-3609
Financial Services Sandra Paynter 855-2066
Member Services Margaret Gallant 855-2066
Gloria Paynter 855-2066
Fax 855-2171
Share Requirement
To become a member/owner a $5.00 deposit is required in your Share account. This $5.00 is yours and will stay on deposit with Consolidated Credit Union for as long as you are a member/ owner.
Two free withdrawals are permitted from your Share Account each month, and additional withdrawals will be charged $1.25.
Chequing Account Qualifying Transactions:
- Cheques
- Global Payment MasterCard transactions - Pre-authorized debits
- Interac direct payment debits - Over-the-counter withdrawals
- MemberDirect and TeleService transactions
- ATM transactions at Credit Union ATM’s and all ATMs on the Exchange and No SUR! Networks
Additional Features:
- MemberCard debit card - Cheque Safekeeping - Passbook option - On-line e-statement
- Cheque return with monthly statement - $2.00 - MemberDirect free on-line access
Standard Service Charge Rates:
All chequing accounts will be charged $.60 per transaction above package limits. For all additional fees, please refer to General Service Fees on page 20.
MasterPlan Basic - $4.95
For those who have limited chequing service requirements.
Includes 15 qualifying transactions.
E-Chequing - $5.95
For those who prefer electronic banking and like to save on transaction fees.
Includes 40 electronic transactions. All paper based transactions are charged $1.00.
MasterPlan Select - $10.95
For those who require unlimited basic transactions.
Includes unlimited qualifying transactions.
MasterPlan Plus - $18.95
For those who require unlimited transactions plus additional over-the-counter services.
Includes unlimited qualifying transactions. Monthly transaction fee will be waived if minimum balance of $5,000.00 is main-tained. Also includes no charge for over-the-counter bill
pay-ments, bank drafts, certified cheques, safety deposit box rent -al discount ($5.00), 2 free INTERAC ATM and/or PLUS ATM transactions per month.
Prime - No Charge
Suited to owners 59 years of age or better.
Includes unlimited qualifying transactions. Also includes no charge for over-the-counter bill payments, safety deposit box rental discount ($5.00), and complimentary cheque orders. Term deposits qualify for a 1/4% bonus on deposits greater than $5,000.00.
Student Account - $2.00
A low-cost, stress free chequing package for students.
Unlimited transactions of all types. Must be enrolled as a full time student at a post secondary institution. No transaction charges at any bank machine. Service fees charged at bank ATM’s are not exempt. For service fee exempt locations please refer to www.the-exchange.ca.
US Accounts
Ideal for frequent or short-stay travellers to the United States who do not require access to funds through ATMs, etc. Each debit will be charged a $1.00 fee. MemberDirect is available for inquiries. Save in US dollars when the exchange rates are favourable.
Overdraft Protection
Overdraft Protection is available on personal transaction accounts - subject to approval. It is a valuable safeguard and a great money management tool. With Overdraft Protection, you’re covered against temporary cash shortages.
- Cheques, withdrawals, pre-authorized payments and
Interac direct payment purchases are honoured up to your pre-determined overdraft limit.
- There’s no monthly fee if you don’t use the service. - Interest is charged only on outstanding balances.
Plan 24
A daily interest savings account that provides a good way to save with convenient access to funds whenever needed.
- Earn money with a competitive interest rate, calculated daily and paid monthly.
- 5 free debit transactions per month.
- Per debit fees will be waived if minimum monthly balance of $1,000.00 is maintained.
- When minimum balance drops below $1,000.00 and after 5 free items, a $.75 fee per debit will apply.
- INTERAC ATM transactions will be $1.50 each and PLUS transactions will be $3.00 each.
Monthly Savings Plan
A great way to save! This convenient plan can be purchased through a payroll savings plan, automatic transfers or regular deposits.
- Save money with no fees.
- Withdrawal flexibility - funds available at any time.
- One withdrawal permitted per month.
- Interest rate is competitive with Canada Savings Bonds - You can cancel at any time.
- Interest is calculated on the minimum, daily balance and is paid monthly.
- Unlimited access via MemberDirect and TeleService
Kirby Kangaroo
The Kirby Kangaroo Club is a savings program designed for kids up to 11 years of age. With Kirby Kangaroo kids can learn about saving money through stories, games and entertaining activities. Best of all, the club is fun and free!
Join the Kirby Kangaroo Club and receive a personal membership card and access to a fun website, just-for-kids.
No service charges, pays a premium rate of daily interest and receive a passbook.
nCharge
nCharge is an exciting program designed for teens. With nCharge teens can learn to manage their money and get valuable
infor-mation on a wide variety of financial topics.
It’s all about learning how to manage money and finances.
Signing up for nCharge will ensure that you get practical advice
on financial topics that really matter.
- no service fees
- unlimited transactions - free MemberCard debit card
- Interac direct payment transactions - ACCULINK ATM transactions - over-the-counter withdrawals
- MemberDirect and TeleService transactions - interest is calculated daily and paid monthly to your account.
Student Chequing Accounts - please refer to page 6.
Student Lines of Credit
- Competitive interest rates.
- Available to full and part-time students.
- Apply only once and advance funds as needed. - Pay only the interest while attending school.
- Repayment will begin after a six-month grace period after end of study date.
- Repayment amortization up to 9 years. - Co-signer may be required.
Student MasterCard
Canada Student Loans
For information on the Provincial and Federal Loan programs please refer to the following websites:
www.studentloan.pe.ca www.hrsdc.gc.ca/en/learning/
Scholarships
Consolidated Credit Union awards seven scholarships, annually, each valued at $1,500.00. The applicant, their parent or legal guardian must be a member of Consolidated Credit Union. The recipient must be a full time grade twelve student attending Three Oaks Senior High School or Kinkora Regional High School.
Start building a credit rating - before you enter the workforce! This is the perfect “starter card” for post-second-ary students. No Annual Fees.
Electronic Services
We make banking easy and convenient by providing you with a variety of services that allow you to access and manage your money from almost anywhere. Make withdrawals and deposits day or night with our ATMs, TeleService telephone banking or MemberDirect on-line banking system.
Have your cheques deposited directly to your Consolidated Cred-it Union account, allowing for easy access. Pay your utilCred-ities through MemberDirect or TeleService or set up an automatic transfer. There’s no need to
carry cash when you have a MemberCard, you can make purchases wherever the Interac Direct Payment logo is displayed.
www.consolidatedcreditu.com
MemberDirect Online Access
Allows owners instant access to their accounts anytime, any-where.
- free access - balance inquiries
- bill payments - immediate and future dated - account transfers
- transfer funds to other Canadian financial
institutions through Hyper-Wallet - order cheques
- change address - stop payments
- view and print statement of account
ATMs
Consolidated Credit Union provides access to 14 credit union ATMs throughout the province. Access your account at ATMs
through the Interac Network (other financial institutions ATMs
such as a chartered bank) in Canada and the Plus Network
(oth-er financial institutions outside Canada).
Access to your accounts is also available through the EXCHANGE Network. The EXCHANGE network gives you convenient ac-cess to your accounts at over 2,200 full-service ATMs across Canada without paying additional surcharges.
To locate ATMs visit www.the-exchange.ca
Credit Unions are now part of the No SUR! Network. This al-lows our owners to use any ATM machine in the United States that display the No SUR! logo and have their withdrawals sur-charge free.
Global Payment Card
A Global Payment MasterCard card accesses funds in your chequing account, and is ac-cepted worldwide wherever MasterCard is accepted.
Attach Choice Rewards and receive points with each purchase
Whether you’re thinking about buying a home, taking a vaca-tion, or paying off your bills, we have the products you need.
Mortgages
Choosing a mortgage is as important as choosing your home!
We can show you the financial options available and help you
choose the best mortgage to suit your budget. - Competitive rates.
- Flexible repayment terms.
- Choice of amortization up to 40 years. - Renewal terms of 6 months to 10 years. - Choice of Closed or Open Mortgage. - Pre-approvals available.
- Up to 100% financing available with CMHC insurance.
- Flexible repayment options.
- Life, disability, critical illness and loss of employment insurance available for single and joint coverage.
Umbrella Mortgage
Our Umbrella Mortgage turns your mortgage into a valuable as-set. It helps you now and in the future to get the things you need and want.
- Pay for your children’s education - Home renovations
- Buy a new vehicle
- Purchase a vacation property
Once in place, you decide how and when you’ll use your avail-able credit. You can borrow up to 80% of the value of your home and continue to choose from our broad range of products most suitable for your needs.
Home Equity Line of Credit
Use the equity in your home to give you the financial freedom
Lending Services
Personal Loans
A personal loan is a convenient solution when funds are needed for an important purchase, a luxury item, or even to consolidate debts into one, lower-cost payment.
- Competitive variable or fixed interest rates.
- Credit Life and Disability insurance available. - No penalty for extra payments or early repayment.
Whatever Loan*
At Consolidated Credit Union, we understand that sometimes you just need a loan for Whatever.
- No interest and no payments for 90 days. - Flexible repayments options
- Competitive rates.
*Minimum $5,000.00 OAC. Qualifying conditions may apply.
Personal Line of Credit
Our Personal Line of Credit offers you a competitive borrowing
rate and allows you the flexibility to take advantage of life’s op -portunities. Fixed or variable monthly payments.
Lifestyle LOC
Don’t let the golf or hockey season pass you by because you didn’t have the fees up front to pay. Put your garden in on time, take out a gym membership, purchase exercise equipment or buy that ticket for a vacation with a Lifestyle Line of Credit.
RRSP Loans and Line of Credit
Maximize your RRSP contribution and repay over time with
ei-ther of these convenient, flexible and competitive products.
Lending Services
Accepted worldwide*, this convenient payment option allows you to buy now and pay later. With low fees and competitive
rates, you receive a unique package of benefits and worldwide
recognition.
We offer a choice of cards, plus, with the Choice Rewards pro-gram, you receive points which are redeemable for free travel and brand-name merchandise.
www.choicerewards.ca
- Earn points for every $1.00 charged for retail purchases and initial balance transfers.
- Redeem points for brand-name merchandise from the CHOICE REWARDS catalogue.
- Redeem points for free travel from the CHOICE REWARDS travel agency.
- No restrictions on travel: - Any seat
- Any carrier (airline, cruise, ski package, etc.) - Any travel time (even during seat sales ) - Any destination
MasterCard Core Features:
- World-wide global acceptance serving consumers in 210 countries and territories.
- World’s largest ATM network. - 24-hour lost/stolen card assistance.
No Fee with Choice Rewards.
Convenience of a credit card at no cost. Earn 1 point for every $2.00 charged.
Low Fee
This card has the perfect combination of
features at a great price. Also available Low Fee with Choice Rewards and Low Fee Gold.
Gold MasterCard with Choice Rewards
This card includes all the features of the Gold MasterCard Credit Card, as well as the Choice Rewards Program. This card is designed to provide you with exceptional coverage and convenience. Platinum
This prestigious card will appeal to your need for convenience, security and sense of
adventure and also offers an exclusive travel reward program.
Earn 2 points for every dollar charged for retail purchases. For complete product descriptions and up to date rates visit:
www.cuets.ca/products/index.html
*Effective October 1, 2007 CUETS issued MasterCard credit card and Global Payment MasterCard transactions will no longer be accepted in the following countries: Iran, Myanmar (Burma), North Korea, Sudan and Cuba.
Financial Planning
We offer a comprehensive family of financial services and solu
-tions designed specifically for your lifestyle.
- Deposit Products
- RRSPs, RRIFs and RESPs - Investments
- Insurance
Term Deposits and CDR’s (Credit Union Deposit Receipts)
pro-vide you with safe and flexible investment options. You are
guaranteed to keep your initial investment while earning com-petitive interest. Deposits are insured under the terms of the Credit Union Deposit Insurance Corporation (CUDIC).
Term Deposit - minimum $1,000.00 - Terms available from 1 to 5 years
- Owners 59 or better qualify for a 1/4% bonus on a minimum deposit of $5,000.00.
CDR - Credit Union Deposit Receipt - minimum $500.00
- Funds are required to be deposited for a minimum of 90 days to earn interest.
- The interest rate is set monthly on the first business
day of each month.
- Compound interest is paid semi-annually on March 31st and September 30th.
Index-Linked Term Deposits
These products allow you to invest in the stock market without any risk to your principal. There are no fees or commissions,
your principal is guaranteed, and you choose a fixed term of 3
or 5 years. Rate of return is calculated on the performance of the TSE.
RRSPs
We can help you understand RRSPs, show you the different investment options available, explain the short and long term
benefits, and help prepare an RRSP plan that makes sense for
your future.
- Save more or retire earlier with compounding interest. - Variable and Fixed Rate Plans available.
- Fixed term RRSPs available from 1 to 5 years - Personal and Spousal RRSPs available
- Secure investment with principal and interest guaranteed Consolidated Credit Union is a member of the Credit Union De-posit Insurance Corporation (CUDIC), which provides 100% coverage on all Registered Investments at Consolidated Credit Union. RRSP’s may be converted to one or several Retirement Income Options at any age, but you must terminate it no later than December 31 of the year in which you turn 71.
RRIFs
When you terminate your RRSP, all the money remains sheltered from tax if you move it to a Retirement Income Fund and only the money withdrawn each year is taxed for that year.
- Funds continue to earn interest while on deposit. - Control over amount of monthly/annual payments. - The balance is available for survivors
- Deposit insurance protection.
- Variable and Fixed Rate plans available.
- Secure investment with principal and interest guaranteed
RESPs
CUDIC
The Credit Union Deposit Insurance Corporation (CUDIC) was incorporated under the laws of Prince Edward Island to protect the money you deposit in Credit Unions.
To be eligible for deposit insurance protection, your deposit must be payable in Canadian currency. Deposits must also be
repayable no later than five years after the date of deposit.
For complete information on what is covered by CUDIC please
ask for a print brochure available at our office or view on line at
www.peicreditunions.com/pdf/cudic_eng_brochure.pdf
Insurance
Insurance needs change over time and knowing the basics of
insurance can help keep your financial safety net operating at
its best.
Loan and Line of Credit Insurance...credit life and disabil- ity insurance can protect you and your family from the unexpected.
Mortgage Insurance...designed especially for mortgages. Insurance options include: life, disability, critical illness and loss of employment coverage.
Travel Insurance...simple, convenient coverage that provides peace of mind protection and worry-free security while travelling.
Credit Card Balance Insurance...balance protection for your credit card balance from loss of income.
Credential Financial Strategies (CFS) representatives provide a
broad range of advisory services and financial products to mem -bers of Consolidated Credit Union. CFS representatives are
dedi-cated to providing comprehensive financial services that assist members in achieving their personal financial goals.
Advisory services provided by CFS representatives include: Retirement Planning
Estate Planning Investment Planning Risk Management
Financial products provided by CFS representatives include: Mutual Funds
Segregated Funds Life Insurance Disability Insurance
Long Term Care Insurance Critical Illness Insurance
Rod MacInnis, CGA,CFP 305 Water Street
Summerside, PE C1N 1C1
(902) 888-5530
www.peicreditunions.com/membercare/ Credential Financial Strategies Inc. is a member company under Credential Financial Inc.,
Cheque Return Fee $ 2.00 INTERAC ATM Transactions $ 1.50 PLUS ATM Transactions $ 3.00 Internal Transfer $ 2.00 Interim Statement $ 2.00 Bill Payments - Owner $ 1.00 - Non-Owner $ 2.00
Certified Cheques - Owner $ 8.00
- Non-Owner $12.00 Money Orders $ 5.00 Canadian Drafts $ 6.00 US Drafts $ 6.00 Foreign Draft $ 6.00 Overdraft Per Cheque Fee $ 8.00 NSF Cheque Fee $30.00 NSF Chargeback Fee $15.00 Cheques Held for Collection $15.00 Stop Payment - Full Details $ 8.00 - Not Full Details $12.00 Interest Letter $10.00
Bank Confirmation $25.00
Canadian Wire Transfers $15.00 US Wire Transfers $25.00 International Wire Transfers $40.00 Safety Deposit Boxes
- Small $35.00 - Large $45.00 Late loan payment after 5 days $25.00 Personal Loan Administration Fee
on Loans Under $10,000.00 $25.00 Security Document Registration Fee - Varies - depending on the terms of the loan.
Travellers Cheques - 1% of amount purchased
