Dunnville and District Credit Union

By: PenFinancial Credit Union Ltd  09-12-2011

Members of 60 Years of age and over are entitled to the following priviledge :

  • " Bonus " Interest on PLAN 24 Daily Interest Savings Account

  • No commission payment on the purchase of American Express travellers cheques.

  • No clearing service charges on Personal Chequing Accounts

  • No Charges for Automated Teller Machine usage.(CU or Exchange ATM's)*
You are encouraged to notify the Credit Union upon attaining your 60th birthday. This will ensure that you begin receiving these special benefits to which you are entitled.
    * fee levied for non CU or Exchange ATM withdrawals.

This account is for those members who like to keep US cash available for when they need it. All the funds and transactions are in US dollar amounts.

  • Interest paid quarterly, calculated on minimum monthly balance.
  • Passbook account for ease of bookkeeping.

Being locally based and locally owned, Dunnville and District Credit Union plays a major role in fostering community well-being through:

  • Investing in community projects.

  • Sponsoring community activities and events. (on application)

  • Promoting community economic development.

  • Providing community organizations with a no fee chequing account.

Organizations benefiting from our community accounts include most non-profit organizations, social clubs, schools and sports teams.

Transactions that are included free of charge are :

  • deposits
  • withdrawals
  • transfers
  • bill payments
  • cheque clearing
  • no minimum monthly fee
  • no statement fee (with use of online banking)
FATCAT

This account is especially for our youngest members under the age of 12. A FATCAT account is the perfect gift for a new baby or for a grandchild. It helps children develop the good habit of saving for a rainy day.

  • interest calculated on a minimum monthly basis.
  • interest paid monthly.
  • no service charges.*
  • passbook for ease of bookkeeping.
  • special draws and promotions.

HEADSTART

The Headstart cheq/savings account is designed just for students. Members who are between the ages of 13 and 25 and are attending school may benefit from this service fee-free account.

  • free chequing priviledges
  • free pre-authorized debits
  • free debit transactions
  • free access to ATM's on the Exchange Network*
  • free quarterly statements with cheque images.
  • interest paid monthly calculated on minimum daily balance.
    • * fee levied for non CU or Exchange ATM withdrawals.

Our PCA account is our straight forward chequing account. No minimum balance requirements and no maintenance fees.


  • Auto Transfers FREE. (within branch)

  • ATM Withdrawal FREE at DDCU or Exchange machine.*

  • Statements Free with Memberdirect online access.

  • Cancelled cheques are included with monthly statements free of charge.

  • Cheques..............$ .40 / cheque

  • Pre-Authorized Debit.... $ .40 / debit

  • Point of Sale........... $ .40 / transaction

  • Bill Payments.......... $1 .00 / transaction
    * fee levied for non CU or Exchange ATM withdrawals.

Plan 24 is a savings account designed to earn interest generally on short-term basis. Interest is calculated every twenty-four hours on the closing account balance, and credited to the account at the end of every month.


  • there are no service charges levied for personal deposits, withdraws*, or transfers to other DDCU accounts.
  • there are no minimum deposit requirements with a Plan 24 account and deposits may be made anytime.
  • the Plan 24 account may be accessed throught the ATM for the purpose of deposits, withdraws, transfers and balance inquiries.
  • free passbook and updates
    * fee levied for non CU or Exchange ATM withdrawals.

The CHEQ/SAVINGS account offers the convenience of a chequing account combined with the interest of a savings account.


  • Auto Transfers FREE. (within branch)

  • ATM Withdrawal FREE at DDCU or Exchange machine.*

  • Statements Free with Memberdirect online access.

  • Cancelled cheques are included with quarterly statements free of charge.

  • Cheques..............$ .45 / cheque

  • Pre-Authorized Debit.... $ .45 / debit

  • Point of Sale........... $ .45 / transaction

  • Bill Payments.......... $1 .00 / transaction
OR maintain a minimum daily balance of $1000.00 and all cheque clearing and electronic service charges are free. (excluding other institution ATM withdrawals.)
    * fee levied for non CU or Exchange ATM withdrawals.

AgriInvest helps producers manage small income declines. Each year, producers can make a deposit into an AgriInvest account, and receive a matching contribution from the federal government.

Producers have the flexibility to withdraw the funds at any time to cover small margin declines or for risk mitigation and other investments.

AgriInvest is part of the Growing Forward suite of federal-provincial-territorial Business Risk Management programs. Growing Forward is a commitment to Canada's agriculture sector that's focused on achieving results, reflects input from across the sector, and delivers programs that are simple, more effective and tailored to local needs.

For more information, visit the program website at


or call Agriculture and Agri-Food Canada toll free at 1.866.367.8506 .

A personal loan is a convenient solution to get the things you need and want. A personal loan is also a great tool to consolidate multiple debts into one lower-cost payment.

Benefits:

  • Flexible payment options:monthly, weekly ,or biweekly.
  • Make extra payments any time with no penalty.
  • Life or Disability insurance available.
  • Competitive interest rates.
All loans subject to credit approval. Call the office to arrange an appointment with one of our loans specialists.

Purchasing a home is one of the largest financial decisions you will make. Selecting a mortgage is as equally important as selecting the house. Dunnville and District Credit Union offers several mortgage types to meet your needs.

    Fixed Mortgage - 1 yr to 5 yr term with a fixed rate of interest.
    Variable Mortgage- Term length determined by ammortization period. Interest rate fluctuates with market.
    CMHC Mortgage 1yr to 5 yr term with a fixed rate of interest. Allows for up to 95% financing on the value of the home.

All mortgages allow the option of monthly, weekly or biweekly payments. To see the current posted rates

All loans subject to credit approval. Call the office to arrange an appointment with one of our loans specialists.
Apply only once, and when approved, you can use Meritline for any reason. How it Works..

Your Home Equity Meritline can be pre-arranged for up to 80% of the appraised value of your property, depending on your mortgage situation. For example, assume your home has an appraised value of $ 200,000.00 and one outstanding mortgage of $ 60,000.00.

  • 80 % of $ 200,000.00 ......=$ 160,000.00
  • Deduct Mortgage balance......$ 60,000.00
  • Available Home Equity........$100,000.00

Credit Union Flexibility At its Best..
  • borrow what you need, at the moment you need it.
  • maximum repayment flexibility.
  • one-time legal and appraisal fees let you use equity in your home to secure funds for future needs.
  • All loans subject to credit approval. Call the office to arrange an appointment with one of our loans specialists.

Registered Retirement Savings Plans are government approved tax deferral programs with many advantages over standard savings plans. Funds deposited in an R.R.S.P. are not taxed until withdrawn from the plan. If you deposit within the first 60 days of the year, you can choose between claiming your deductions for the previous year or for the current year.

To find out how much you can invest in your R.R.S.P. check the bottom of your Tax Notice.

Just think of the load this will take off your present taxable income . For those with a heavy tax load, the tax refund could end up covering a large part of next year's R.R.S.P. investment.

Spousal Deposits

You might consider contributing to an R.R.S.P. in which your spouse is beneficiary. Spousal R.R.S.P.s are an excellent income-splitting device that can serve to lighten your tax load in the future.

R.R.S.P.s Options Available

Dunnville and District Credit Union has two Registered Retirement Savings Plans available. Members may choose one or both plans.

1. R.R.S.P. Term Deposits:

Members may choose to have an R.R.S.P. Term Certificate plan. This option yields a high interest rate than the "savings account" option. The Term Certificate option cannot be redeemed early unless it is to settle an estate. The minimum deposit for an R.R.S.P.s Term Deposit is $500.

2. R.R.S.P. Savings Account:

This option allows you to make deposits at any time. You can automatically transfered Weekly, Bi-weekly or Monthly. Interest is calculated on the daily closing balance and compounded quarterly.

You can Cash-in this R.R.S.P. at any time simply by giving us the required notice. Just remember.. you'll have to count that money as "income" in the year it is received! There is, however, nothing to prevent you from starting another R.R.S.P.

A RRIF is a registered plan where an individual draws an income for retirement from a Registered Retirement Savings Plan (RRSP). A RRIF can be custom designed to meet the individual's retirement objectives. It provides maximum control over one's investment of funds and provides flexibility to adjust the amounts of payment one receives. You choose the payment level as long as it meets the minimum levels set out by the government.

$112,700 is the estimated ¹ cost to obtain a university education in 2018

R.E.S.P.s What they're all about:

The Credit Union Education Savings Plan (CUEPS) is a registered program designed to assist you in saving for the training and education needed to secure a child's future.

Highlights of the Plan:

- Earnings grow in tax sheltered until withdrawn.

- Ability to select the most convenient periodic* payment plan.

- The Canada Education Saving Grant will provide an additional deposit of up to 20% of your contributions to the Plan.

- A wide variety of investment options available to maximize security and flexibility.

For more information on CUESP and the Canada Education Saving Grant program ,contact the professional and knowledgeable staff at your credit union.

Why not start now and put aside a little each week . Call your Credit Union investment specialist Claudia or Don for free consultation.

¹Sours Human Resources Development Canada RESP Calculator using a 4% yearly increase of tuition living expenses.

*Some restrictions apply

GICs are available from 30 days to 60 months and offer a guaranteed rate of interest on your deposit. Funds are locked in for the term chosen. We also offer redeemable GICs that offer a competitive interest rate with the flexibility of being cashed at anytime with no early redemption penalty.

to see our current rates.


A fresh approach to your savings.

The Tax-Free Savings Account (TFSA) is available beginning in 2009 to Canadian Residents age 18 or older. TFSA allows taxpayers to set money aside in eligible investment vehicles and watch those savings grow tax-free throughout their lifetime.

There are no restrictions on the way TFSA funds (contributions and earnings) may be used (ie purchase a car, renovate a home,start a small business, take a family vacation, or just save for a "rainy day"). All income levels and all walks of life can benefit from a TFSA. But only a careful review of each person's financial situation will determine how to optimize use of RRSPs, RESPs,RRIFs and TFSAs.

TFSA Eligibility

The individual owning the TFSA is the "Holder". Any individual person (not trusts or corporations) who meets all of the following three requirements is eligible to open a TFSA:


  • Resident in Canada, and
  • 18 years of age or older, and
  • Holds a valid Social Insurance Number (SIN)

There is no maximum age limit to open or hold a TFSA and a person may hold more than one TFSA.

Note: The Holder is responsible for ensuring the maximum contribution limit is not exceeded.

Home and auto insurance is offerred by CUMIS Insurance. The CUMIS Insurance program has been delivering quality insurance programs since 1986. They believe that compassion, understanding and trust are guiding principles towards forging strong and enduring relationships with credit union members. Their insurance representatives take a personal and professional interest in making sure you have access to coverage that is ideally suited to your needs. You are a good driver and a responsible homeowner. As a credit union member, don't pay more than you have to. Call today 1-800-810-2847


CU Credit MasterCard offers a wide range of credit card products with unique features designed to fit your needs.

We have two 24 hour ATM's located at the branch. We offer a cash dispensing Drive Thru ATM as well as a full function Vestibule ATM with wheel chair accessibility and the ability to lock the door behind you for security.

Throught a partnership with The Exchange atm network we have access to one of the largest networks of surcharge free ATM's. For more information on this please visit :

Access your money whenever you need it.

Your MemberCard is the key to a wide range of self-serving options 24 hours a day. Use your MemberCard to:

  • make debit purchases instead of using cash.

  • get instant cash at ATMs worldwide, and access to one of the largest surcharge free ATM networks in Canada.
  • transfer funds within accounts.
  • make deposits or pay bills.

Online banking allows the member to access their accounts 24hrs a day 7 days a week from home. The member can pay bills, transfer between accounts, print statements, pay bills and create auto transfers.

  • access is FREE
  • pay bills free of charge using this service

Even precisely planned vacations can be interrupted by delays and emergencies, which can disrupt your itinerary and cost you a lot of money.

Protect your family assets and ensure peace of mind while you travel. With our travel insurance program, your rate is based on where you plan to travel, the duration of your trip and your age.

Details:

• Five million dollars coverage on excess hospital, medical and dental expenses

• Comprehensive medical support with 24/7 access to emergency assistance, anywhere in the world

• Transportation home when medically required and access to a medical professional who can coordinate your medical care

• Necessary lab tests, x-rays and prescription drugs

• Qualified claims staff to assist you in case of sudden illness or accident

• If members travel frequently, the CUMIS Insurance Travel Program has a policy that covers all trips throughout the year

• Optional plans include trip interruption, accidental death and dismemberment, and air flight accident insurance

• There are no pre-existing condition exclusions if you are under 71 years of age and traveling for 35 days or less, as long as no other exclusions apply

Note: Some products have more underwriting qualifications than others. Call for complete details.

CUMIS Insurance Travel Program is underwritten by Co-operators Life Insurance Company and administered by TIC Travel Insurance Coordinators Ltd. For more information, please visit your credit union or call TIC at 1.877.885.2847.


Our business accounts offer a simple fee structure with no minimum balance requirements and no monthly maintenance fees.

  • Free Memberdirect online banking. (with single signing authority)
  • Free electronic statements with cheque images.
  • No charge for deposits.
  • cleared cheques.......$ .75/cheque
  • pre-authorized debit ...$ .75/debit
  • ATM Withdrawal* (CU or Exchange)...........$ .75/transaction
  • Point of Sale (debit)....$ .75/transaction
  • Bill Payments.........$1.00/transaction
  • Transfers............$ .75/transaction
    • * fee levied for non CU or Exchange ATM withdrawals.
The information in this article was current at 06 Dec 2011


Contact PenFinancial Credit Union Ltd

Email - none provided

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