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AUTOMATED TELLER MACHINES
For your convenience V.P. Credit Union has a cash machine located at both
police stations giving you access to your accounts and cash 24 hours a
day. There is no charge for our Members to use this convenient service.
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BILL PAYMENT
Save time and money by paying your utility bills or credit card accounts
by phone (using phone banking) or Internet Banking. The system
allows for future dated and regularly scheduled payments
V.P. Credit Union
accepts most widely recognized utility companies, communication
companies, credit card issuers, municipal tax and service bills.
No need to call the
branch to
add a new bill payee, you can do it using a phone or personal computer.
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BUSINESS AND ORGANIZATION ACCOUNTS
Business members and Organizations can take advantage of accounts
designed for their specific needs.
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CANADA SAVINGS BONDS
V.P. Credit Union is an authorized dealer of Canada Savings Bonds on
behalf of the Government of Canada.
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CUSTOM CHEQUE ORDER
In-branch cheque printing available at your request. Always
reasonably priced and FREE to Golden and Founders Club accounts.
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DEPOSIT INSURANCE
The Credit Union Deposit Insurance Corporation, a government corporation,
protects the deposits of all British Columbia credit union members up to
a maximum of $100,000.00 "per separate deposit" (as defined by
regulation) per credit union. Click here
for full details.
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"SHARES" in V.P. Credit Union
Every member is set up with
this account. This can be used as a
high yielding account which participates in dividends declared annually. Generous free life
insurance benefits can make this account an excellent savings account.
Annual Patronage Refunds
on loan and mortgage interest are paid to this account. Funds are available
on demand without charge, and are insured by C.U.D.I.C.
V.P. Credit Union EQUITY SHARES
These special shares form part of the equity (financial stability) of the
Credit Union, and as such they are:
- Restricted as to
withdrawal to 10% annually until your retirement when 20% withdrawals are
allowed.
- Not guaranteed by
the Credit Union Deposit Insurance Corporation.
- Dividends are based
on the Credit Union's financial performance and are paid in January
annually based on minimum monthly balances.
- Dividends on these
shares since their introduction have been set higher than our other
accounts to reflect their ownership privileges restrictions.
Various Classes of
EQUITY Shares:
MEMBERSHIP EQUITY SHARES
- Minimum $10 to open
membership by every member.
- Maximum allowable
deposit is $1,000.
INVESTMENT EQUITY SHARES
- A minimum deposit
of $1,000 to this account will generate all the benefits available to our
Founders Club members.
- Maximum allowable
deposit is $5000.
PARTICIPATION EQUITY SHARES
- Not open to
deposits from Members.
- These special
shares are used by the Credit Union to further reward its loyal
depositors with special distributions of surplus earnings when available
at the end of each year.
- Historically,
Members have received 5% of their interest and dividends received during
the year. Over $1.25 million dollars have been credited to these accounts since
inception in 1994.
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FOREIGN CURRENCY US CASH
Traveling to the United States or to another destination? You can
obtain US cash before leaving, always at favourable rates of exchange.
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INTERNET BANKING
Convenient banking from any personal computer with an Internet
connection. Stay in touch on-line 24 hours a day.
The minimum
hardware requirements for using the MemberDirect site are
specified by the specific browser that you use. As
an example, the minimum recommended hardware that Microsoft
recommends for Internet Explorer 6.0 or newer is:
Windows, 2000, Me, and XP Operating Systems
- 486 Processor
- 32 MB of RAM
- 12 MB of hard drive space
Mac OSX
- Macintosh PowerPC
- Mac OS X version 10.1.5
or later
- 128 MB of RAM
- 19.9 MB of available had
disk space
Windows or Linux Operating Systems
- Pentium 233 MHx
- 64 MB of RAM
- 26 MB of hard drive space
(If
your browser version does not support 128-bit encryption you will be
directed to an appropriate web-site to acquire an upgrade.)
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PHONE BANKING
Use your touch tone telephone to access your accounts by calling us at 604-683-5300
or toll free at 1-877-683-3628. Stay in touch 24 hours a day.
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LINE OF CREDIT
A Line of Credit is a revolving loan for consumer purposes, attached to a
chequing account. The loan arrangement allows the member to borrow up to
a pre-authorized limit with repayment whenever you decide. A minimum
monthly payment is required. A Line of Credit provides great overdraft
protection, is always available and you only pay interest on the daily
outstanding balance.
You can draw on your
line of credit just by writing a cheque, completing an electronic
transaction or doing an in branch withdrawal.
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MASTERCARD CREDIT CARD
Internationally recognized and accepted at millions of locations
world-wide, MasterCard can be used to purchase goods, pay for services or
for emergency cash. You receive a monthly statement detailing all your
individual transactions.
V.P. Credit Union has
a card plan to meet your needs, starting with a no fee card
or a Low Fee card ($12.00 per
year) with a lower interest rate on any balance outstanding. We also
offer a Gold and Platinum cards with excellent rewards and privileges.
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MEMBERCARD
The multi-use card. It can be used at cash machines around the globe displaying
any of the following logos - AccuLink, Cirrus, The Exchange, Interac, Cue
Strata and Plus System. It can also be used as a direct debit payment
card at thousands of retailers displaying the INTERAC Direct Payment
symbol.
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MORTGAGES
Our interest rates are always very competitive and we want your family
business. A mortgage is a loan secured by a property, usually a
personal residence. Mortgages are available for many purposes including
to assist with the purchase of a home, a recreational property or a
revenue property. Home owners can harness accumulated home equity by
re-mortgaging and using the funds for investments, debt consolidation or
any worthwhile purpose.
C.M.H.C. insured
mortgage is available with as little as 5% down payment.
Our mortgages can be
individually tailored to meet your special circumstances with a variety
of terms and repayment periods. Mortgage life and disability insurance
are also available.
Thinking of buying a
home or drawing on your home equity? Why not have your application
pre-approved eliminating any possible uncertainty. V.P. Credit Union will
also arrange the transfer of your existing mortgage from your current
financial institution, we make it easy.
You can accelerate
the repayment of your mortgage by increasing your monthly payments by up
to 15% and prepay up to 15% of your original mortgage balance once a year
without penalty. Payments can be scheduled to best fit your budget ....
either weekly, bi-weekly, semi-monthly or monthly.
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MORTGAGE LIFE INSURANCE
Why take the risk? Chances are, your home is your single greatest
investment. In the event of death could your family continue to make the
mortgage payments? Level premiums, joint coverage and non-smoker
discounts available.
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MUTUAL FUNDS*
Invest in a portfolio
of securities managed by a portfolio manager and owned
"mutually" by its investors. Mutual Funds are offered through,
our partner, Credential Asset Management Inc., which is a mutual fund
dealer. Mutual Fund investments are not guaranteed and
are not insured by any government or other deposit insurer which
insures deposits in credit Unions. Unit values and investment returns
will fluctuate. Self directed RRSP's are available at very
reasonable annual charges.
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ETHICAL FUNDS
Considered one of the most successful mutual funds in Canada,
Ethical Funds offer a variety of
funds to match your investment preference. Good performance with high
ideals, feel good about your finances.
The family of Ethical
Funds offers you exposure to a wide variety of world-wide markets, for
greater diversification. Ethical Funds offers seven funds which deliver
the performance, flexibility and growth potential needed to limit risks
and maximize returns.
Each fund has a
different objective and approach to help you achieved the balance of
safety, growth and income that's right for you. You can begin investing
in Ethical Funds with as little as $500.00. and subsequent contribution
can be as little as $50.00. Each fund is RRSP and RRIF eligible. Ethical
Funds are NO LOADS, that means no commissions are charged when you buy or
sell, so all your money goes to work for you right away.
Choose from on of the
following funds: Ethical Money Market, Ethical Income Fund, Ethical
Global Bond Fund, Ethical Balanced Fund, Ethical Growth Fund, Ethical
Special Equity Fund, Ethical North American Equity Fund and Ethical
Pacific Rim Fund. Visit the Ethical Funds web site at: http://www.ethicalfunds.com.
* Mutual Funds are
offered through Credential Asset Management Inc., Commissions, trailing
commissions, management fees and expenses all may be associated with
mutual fund investments. Please read the prospectus before
investing. Unless otherwise stated, mutual fund securities and cash
balances are not covered by the Canada Deposit Insurance Corporation or by
any other government deposit insurer that insures deposits in credit
unions. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated. ®Credential is
a registered mark owned by Credential Financial Inc. and is used under
licence. ®Ethical Funds is a
registered mark of Northwest & Ethical Investments L.P. and is used
under licence.
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NIGHT DRAWER
If you are unable to visit your branch during business hours to make a
deposit you may use the deposit drawer located at both stations.
These secure depositories are serviced daily by our staff.
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OFFICIAL CHEQUES
Guarantee your payments by using an official cheque, also known as a bank
draft. Available in Canadian currency and US drafts in any amount.
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PAT (PRE AUTHORIZED TRANSFER)
Enable you to have funds transferred on a regular basis to or from
another account, at V.P. Credit Union or may also involve an account at
another financial institution.
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PAYROLL DEPOSIT
For added convenience have your payroll, government cheques or any other
regular income cheques deposited to your account directly.
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PAYROLL DEDUCTIONS
This unique method to deposit directly a portion of your pay cheque and
is available to us free of charge courtesy of the Department.
Contact us for additional information and we will do all the background
work for you.
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REGULAR CHEQUING
Enjoy competitive service charges and a monthly statement with copies of your cheques returned.
Interest calculated on the daily closing balance and paid monthly.
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PACKAGE ACCOUNTS
Advantage chequing account at $9.95 per month includes: 50 Point of Sale
(debit) transactions per month, Free Internet Banking, No minimum
deposit required, Pre-approved Line of Credit / Over draft of $1,000.00
(with direct deposit) and Quarterly statements.
Advantage Plus
chequing account at $11.95 per month includes: Unlimited Point of
Sale (debit) or cheque transactions per month, 10 Free Interac Network
ATM transactions (currently $1.75 for each Interac ATM), 10 Free
Pre-authorized debit transactions, Interest earned on minimum balance
paid monthly, Free Internet and Phone banking, No minimum deposit
required, Pre approved Line of Credit / Overdraft of $5,000.00(with
direct payroll deposit) and Monthly statements.
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Kirby Kangaroo ACCOUNTS
the Kirby
Kangaroo Club is a savings program designed especially for kids up to 11
years of age. Kids learn about savings and other important
financial topics through stories, games and entertaining activities.
Best of all, the club is fun , and FREE!
Here's how to help your child
become financially savvy:
- Open a savings account by
depositing money into a special kid's account at VPCU
- Ask about enrolling
your child in the Kirby Kangaroo Club. They'll receive a personal
membership card, access to a fun website and special just-for-kids
mailings.
- Help your youngster
learn the value of saving by working towards incentives - fun prizes
designed just for kids.
To find out more about the
Kirby Kangaroo club call or visit V.P. Credit Union.
Follow this link to the Kirby
Kangaroo club
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SILVER SHIELD
An account that has chequing privileges and offers high yielding tiered
interest rates, paid monthly based on closing daily balances. FREE service charges with
a minimum monthly balance of $1,000.
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US DOLLAR ACCOUNTS
US Dollar chequing / savings accounts are available. Minimize
exchange costs, save time and charges.
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SENIORS GOLD SHIELD CHEQUING FREE
For those members 55 years or better, enjoy the special benefits of an
account designed to reward your achievements.
V.P. Credit union
offers to those members 55 years or better a special account designed to
reward your achievements. Not only are you entitled to this very special
package, if you share a joint account with your spouse, he or she can be
under 55 and also enjoy the advantages of our Golden Chequing account.
Designed specially
for members 55 years or better. Receive free basic banking services.
- Unlimited use of V.P.
Credit Union cash machines
- Unlimited cheques and
withdrawals
- Unlimited Interac/Point
of Sale transactions
- Free bill payment
- Free transfer of funds,
money orders and official cheques
- No commission on regular
travelers cheques
- Free (in office)
personalized cheques
- Unlimited deposits
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FOUNDERS' CLUB MEMBERS For those members, whose
accounts have been open over 20 years or invest $2,500 in Investment
Equity Shares. Enjoy the special benefits that a Senior Member does and
receive premium interest on term deposits and RRSP's. You also qualify
for discounts on certain personal loans.
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ALL IN ONE STATEMENTS
We provide most of our Members with monthly descriptive statements of all
their affairs with the V.P. Credit Union. These statements provide
information on all your daily transactions and balances on demand, savings,
shares, loans, investments and RRSP accounts. These statements can
be viewed on-line at the MemberDirect® link.
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PERSONAL LOANS
Personal loans are available for many worthwhile purposes, including
vehicle purchases, vacations, family expenses, education and debt
consolidation. The loan may be secured by assets, such as vehicles or
other personal properties, or made unsecured, on the strength of your
established good credit record.
Competitive rates,
and the ability to repay the loan in whole or in part at any time, make
personal loans an attractive option. Insurance coverage is available for
pennies a day.
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PERSONAL LOAN LIFE INSURANCE
Outstanding Balance Life Insurance safeguards your family's life style
and assets. It provides you with peace of mind. Life insurance protection
available at V.P. Credit Union is convenient, economical and easy to
qualify for.
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PERSONAL LOAN DISABILITY INSURANCE
An unexpected illness or accident can seriously jeopardize a family's
income and your good credit. Disability insurance ensures your loan
payments are kept current when you need it most.
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PERSONAL SAVINGS ACCOUNTS
V.P. Credit Union offers a choice of savings accounts to meet your needs.
Whatever your reason
for saving, V.P. Credit union has the account to meet your needs.
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PLAN 24
Plan 24 was originally introduced by BC credit unions. This basic savings
account earns interest on the closing daily balance and is paid monthly.
The account is designed to supplement the use of a chequing account or as
a safe haven for that special purpose.
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BOND BEATERS
Available annually to compete with Canada Premium Bonds. Earn 1/4% more
than Premium Bonds, escalating rates, and enjoy more liberal redemption
privileges. Be sure to inquire about our unbeatable Payroll
Deduction Bond Beaters. Available annually in November and much
better than Canada Savings Bonds payroll deductions.
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TAX
FREE
As announced by the Federal Government in its 2008 budget, a new
type of registered account; Tax-Free Savings Account (TFSA) will be
available to all individuals 18 years and older beginning January 2009.
These are some of the basic facts about TFSA’s:
Anyone 18 or older may contribute up to $5000 per
annum commencing January 2009.
Contributions are not tax deductible.
·
Income and capital gains in the account grow tax-free.
·
Unused contribution room may be carried forward from year
to year.
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Withdrawals can be made any time, tax-free.
·
Withdrawn amounts can be put back in the TFSA at a later
date without reducing your contribution room.
·
Income earned or withdrawals will affect your eligibility
for Federal income-tax benefits and credits.
Contributions to a spouse’s TFSA will be allowed and TFSA assets can be
transferred to a spouse upon death.
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RRSP
Plan for your future and gain an immediate tax benefit offered by a
Registered Retirement Savings Plan. Choose from a savings (variable rate)
account, Term Deposits, Bond Beaters, all offered by V.P. Credit Union or
other investments.
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RRIFs
Our Registered Retirement Income Fund gives you control of your
registered retirement savings and the flexibility to adjust your income
as your needs change. Choose from various investment options while
maintaining flexibility.
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RESPs
Registered Educational Savings Plan is a tax deferral plan that enables a
subscriber to shelter investment income while saving for the
post-secondary education of a beneficiary. Choose from various investment
options available through V.P. Credit Union.
The investment
remains the property of the subscriber while the earnings on the
investment are reserved for the benefit of the beneficiary. In addition
to sheltering the earnings the plan allows for an individual to be the
beneficiary of various plans, the beneficiary does not need to be related
to the subscriber and individual plans qualify for the Education Savings
Grant, from the Government of Canada.
For specific details
on available plans and contribution limits contact your branch.
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SAFETY DEPOSIT BOXES
Protect your valuables, family heirlooms and special documents by storing
them in a safe and secure safety deposit box. Click here
for charges.
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STOP PAYMENTS
If the need arises you can stop payment of a cheque or a pre authorized
withdrawal from your account before the item is honoured. A Stop Payment
can be processed in branch or through Internet Banking.
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MTS - MONEY TRANSFER SYSTEM
Need to forward funds quickly across the city or across the country? V.P.
Credit Union can arrange the transfer of funds through its affiliation
with Credit Union Central of British Columbia. Contact the branch during
business hours.
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TERM DEPOSITS
Earn a higher rate of interest on your savings by investing in a Term
Deposit. They provide flexibility and are available for periods of 30
days to 5 years. The interest rate is guaranteed for the length of the
term. Funds may be withdrawn before maturity but at a lower rate if
redeemable. Watch for Special offer term deposits. On term deposits over
one year, interest can be compounded annually and paid annually or
monthly. Click here
for rates.
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TRAVELERS CHEQUES
Reduce the risk due to theft or loss of cash when traveling by purchasing
travelers cheques. V.P. Credit Union is proud to offer to its members
American Express traveler's cheques in Canadian and US funds. You can
also purchase "Cheques for Two".
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