Unlike a bank, our Credit Union is owned by its members, and profits that are generated through its operations are returned to the members either through lower rates on loans or through higher returns on savings. All it takes is a $25 (maximum $3,500) common share investment to benefit from Credit Union membership. The purpose of the Common Share Policy is to maintain a prudent equity base in TransCanada Credit Union and to provide each Credit Union member with an opportunity to share in the surplus earnings of the Credit Union. Common Shares are not guaranteed by the Credit Union Deposit Guarantee Corporation. As a member/shareholder, you receive one vote to elect a Board of Directors, voice your opinion and vote on the affairs of the Credit Union.
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Deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation. The Credit Union Deposit Guarantee Corporation guarantees the repayment of all deposits with Alberta Credit Unions, including accrued interest. Additionally, the Credit Union Act provides that the Government of Alberta will ensure that this obligation of the Corporation is carried out. Deposit amounts include chequing and savings accounts, RRSP deposits, RRIF deposits and term deposits, including those with terms exceeding five years. This means both the deposit money you put in and the interest earned is safe and secure - up to any dollar amount!
Over the last 5 years we have shared over $200,000 of our profits with our members! Credit Unions are not-for-profit financial cooperatives, whose earnings are paid back to members through a variety of methods.This makes us very different to Banks, who are for-profit corporations, with declared earnings paid to stockholders only. Like most Credit Unions, TransCanada Credit Union shares some of the profit we make each year with our members. This profit sharing can happen in a variety of ways, from dividends on your common share holding, to rebates on loans interest paid or bonus interest on interest earned in your savings account. The profit share distribution is declared each year by our Board of Directors, usually in November and is normally paid to members in December of each year.
Member service is our first priority. Our Credit Union prides itself on personal, quality, responsive service. We serve our members with respect, integrity and courtesy, with their interests foremost. Our members consistently say that they receive a better customer experience with us than with other financial institutions.
Contact the Credit Union to get set up:
Telephone: (403) 920 - 2664 Email: firstname.lastname@example.org
If you have already been set up click below to access:
Our carefully selected Insurance partners offer our members exclusive discounts off their standard insurance rates. Click below to find out more and see their contacts details