Office Closure
The office will be closed on Monday October 13th as we enjoy Thanksgiving.
Prime Rate Change
The Credit Union has lowered our prime interest rate to 4.70% effective Thursday October 17, 2025. This follows the Bank of Canada announced change in the overnight rate today. The Canadian economy, over the past few years, has been heavily driven by immigration and on a per-capita basis there has continued to be weakness in GDP. Finding a job has proved challenging and unemployment is ticking up. We believe the Bank of Canada will need to further stimulate the economy to ensure another negative GDP print is avoided, and thus we steer out of a "technical recession". We've always thought 0.75% in cuts was on the cards for calendar 2025, and we're now there. With only 2 scheduled meetings left in 2025 it truly is a coin flip as to whether we get another cut (most likely in our view to happen in October).
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
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
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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