2024 Profit Share Announcement
Common Share Dividend of 5.00%!
We are excited to announce to our members our 2024 Profit Share decision.
We are delighted to confirm that the Board of Directors have agreed a dividend on Common Shares of 5.0% for the 2024 fiscal year.
The 2024 profit-sharing distributions were paid to member accounts 5th of February 2025.
To find out more about the way the profit share distributions are calculated, please click on the 'Find out more' button
Prime Rate Change!
Yesterday morning the Bank of Canada decreased the Overnight Rate by 0.25%. As a result,
please be advised that effective Thursday, January 30th, 2025 our Prime Rate will decrease by 0.25% to 5.20%.
Markets are currently expecting only 2 more rate cuts by the end of 2025. The overnight rate is now within the Bank's neutral range so the market does believe that we're in the "Goldilocks zone" where rates are set in a way to neither expand nor contract the Canadian economy. In short: neither too hot nor too cold! This writers view continues to be that the market is underestimating the weakness in the Canadian economy and rates will continue to drop further than expected!
First Home Savings Accounts
NOW AVAILABLE -Fantastic opportunity for First Time Buyers!
An FHSA is a tax-advantaged registered plan that lets you save for your first home. Your contributions reduce your taxable income (up to a lifetime maximum of $40,000), and you can withdraw the money—tax-free—for any qualifying home purchase!
You can open an FHSA if you:
- Are a Canadian resident
- Are aged 18– 71
- Are a first-time homebuyer
Contact us for more details on this excellent tax saving opportunity.
TFSA's are here!
Same great rates, just no Tax!
We are pleased to announce that we now offer TFSA's to our members. Our same great products (savings accounts and GIC's) and rates will be available, just under the tax-free shelter of a TFSA. We will be able to accept transfers of existing plans from other financial institutions and you also get the added benefit of your TFSA funds being covered by our 100% deposit guarantee!
Opening Hours
Our office is open to members from 8.30am till 4pm on Mondays, Tuesdays and Thursdays with staff working remotely on Wednesdays and Fridays
Special Offer - Vehicle Loans from 6.49%
Time to update your vehicle, trailer, boat or recreational vehicle? In fact, if it moves, we can likely provide you financing from as low as 6.49% for up to 84 months. This is a limited time offering and is subject to terms and conditions and qualification.
Once a Member, ALWAYS a Member
We just wanted to remind you of one of our CORE values here at the Credit Union, once you become a Member, you are welcome to remain a Member for LIFE. So even if you retire or leave TransCanada, you are still eligible for the same great services and interest rates!
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