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/ Earl Grey
Credit Union
Member
Newsletter
December 2016
Credit union info:
Page Content
2016 Deadline:
There is no time like the present to start saving for your retirement! The annual RRSP Contribution deadline for the 2016 taxation year is February 29, 2017.
Talk to our loans officer today about applying for a “RRSP Loan” today
Please join us in welcoming Leandra Cameron to our team! Her first day with us was August 2, 2016.Leandra is hired as a part time member service representative.Stop by and welcome her to the Credit Union community!
Check out our new Personal Financial Manager through online banking. Link your credit card and external accounts as long as your service provider allows it.
Donations:
The Earl Grey Credit Union fundraised for Movember and matched all donations up to $250. The total amount raised was $702! Thanks to everyone who supported.
As part of our community support initiatives, this year the Earl Grey Credit Union made a donation of $2000.00 to the Earl Grey/RM 219 Fire Department . This makes a total of $12,000 donated over the past six years.
Are you reading your statements?
By signing up for e-statements, Earl Grey Credit Union is giving away a $50 Co-op Gift Cardto one lucky person every quarter! It could be you! There are two ways to opt-out of paper statements:
- Stop by the branch to fill out the necessary paperwork, or;
- Change your ‘Statement Preferences’ when logged into your online banking: My Accounts > Statement Preferences > E-statements only.
Our winners are:
1st Quarter 2016 – Bob Nixon
2nd Quarter 2016 –Lyndon Sievert
3rd Quarter 2016 – Lynn Blackwell
Congratulations to all of our winners!!!
Board Nominations:
Serving as a board member can be both challenging and rewarding. Don’t underestimate the contribution you can make to your credit union. Your credit union needs people on the board who have the ability to learn, are motivated and committed to team work.
One of the key strengths of the credit union system, and what sets it apart in the financial services sector, is our democratic structure. The board of directors is the foundation of the credit union. Without our member’s involvement in the democratic structure our credit union would not remain a strong part of our community.
Each spring the credit union members elect or re-elect directors. We have fourboard member spots that are up for election in 2017.If you are interested in being a director please contact Dawn Butz (306-540-8365), Lyle Sandercock (306-726-5890) or Mitchell Nixon (306-718-7447).
Holiday Office Hours:
Closed @ 3:00pm on Friday December 30th
Closed Statutory Holidays:
Monday, December 26,
Tuesday, December 27
Monday, January 2
Tips on how to avoid card skimming over the holidays:
*As seen in picture: Machine on left has been tampered with
-Avoid using the swipe option on PIN pad machines if possible
-When inserting your card into the machine, you should never need to slide your card more than a few inches (see picture above)
-Where possible, use the TAP option on credit and debit cards
Year-to-date InterestPaid
For incometaxpurposes, pleaserefer toInterestPaid YTDon yourDecember 31, 2016 Credit Union AccountStatement.
You’ve been named executor. Nowwhat?
Being named executor for an estate is both an honor and a responsibility. It means that while grieving the loss of a loved one, you also have the obligation to make sure their last wishes are fulfilled.
It can be difficult to get started, and it’s worth taking some time to research the steps involved in administering an estate.
There are SIX main activities related to estate administration you will need to address as executor (although not all activities within each step may apply to you):
Step 1
Locate the Will. Common places to look include safety deposit boxes, personal files, or a home safe. It could also be on file with a professional advisor such as Concentra Trust, a financial advisor, an accountant or lawyer.
Step 2
Make funeral arrangements. There are many decisions to make when arranging a funeral, usually in a short time period. Regardless of instructions or wishes from either the deceased or their family members, as executor, you are ultimately responsible for funeral arrangements.
Step 3
Protect the estate. This includes rerouting mail, ensuring any vacant property is properly insured, notifying financial institutions, advertising for creditors, and safekeeping any valuables.
Step 4
Inventory assets and liabilities. This is required for the probate application and may include contacting government agencies, such as the CRA and Service Canada, locating property titles, valuing assets, as well as notifying lenders and credit card companies. Once the statement of assets and liabilities is completed, you’ll need to provide a copy to the beneficiaries.
Step 5
Complete the Probate application. Probate is commonly required when real property is held solely in the deceased’s name. Probate may also be required by a financial institution. There are three ways you can complete a probate application: do it yourself; have a lawyer complete it; or call Concentra Trust.
Step 6
Distribute estate assets. You will need to file the required tax returns to receive a CRA Clearance Certificate. You will then be able to prepare a final report for the beneficiaries. The beneficiaries must approve the report, your executor’s fee, and sign a release before you can distribute the estate assets and close the estate account.