Member News - Steinbach Credit Union
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Member News Winter 2019
It's RRSP season!
We'll help you use your contribution room
Contributions to your RRSP for the 2018 tax year must be We offer a wide range of savings options to help you
made by March 1, 2019. The maximum RRSP contribution reach your financial goals. In addition to RRSPs, choose
for 2018 is 18% of your earned income from the previous from TFSAs, variable savings, term deposits, or all of the
tax year or $26,230 (whichever is less), but you can also above. Whichever you choose, we'll help you earn more
carry forward unused portions of the limit from previous on your savings. Combine that with our expert advice,
years, so it’s possible the total you are allowed and we can help you build your savings to reach all of your
to contribute may be higher. retirement goals.
Our RSP Link Line is a line of credit designed to help you To learn more about RSP link lines, contributing to your
maximize your RRSP contributions. With easy access RRSP, or to talk about how our savings options can help
to funds, and interest charged only on the outstanding you reach your goals, stop by our branch or call us at
balance, it's a great option to help you use your 1.800.728.6440.
contribution room by catching up on previous years'
missed contributions.
Remember, the RRSP
If you’d like to make an RRSP contribution by the deadline deadline for the 2018
and have an existing SCU RRSP account, you can make
contributions online! Learn more at scu.mb.ca/rsp-online.
tax year is March 1, 2019!
The best credit cards
for winter travellers
Beneficiary Credit cards make the best travel companions! They’re easy to carry, and offer a whole range of benefits
designed uniquely for the traveller.
Review Are you getting ready for winter travel? Consider bringing along one of these great cards! No matter
which one you choose, you’ll earn reward points1 and enjoy comprehensive travel protection such as auto
Often, this is the time rental collision insurance2, 24/7 emergency travel assistance3, emergency health care coverage3, trip
of year when many cancellation and interruption insurance3, and more.
people re-evaluate
their investments,
which also makes it a
good time to review
designated beneficiaries.
A beneficiary that has
been named through a
designation form will not
be changed automatically
by a change in your The World Mastercard® Our US Dollar Mastercard® Our Travel Rewards Gold
personal status such is your key to earning the is your key to earning the Mastercard® is perfect for
a marriage or divorce. elite-level privileges you privileges you deserve on-the-go lifestyles. Earn
Call SCU today at deserve. You'll be rewarded whenever you go to the valuable rewards you can
1.800.728.6440 if you with unique benefits and United States or shop online redeem for flights, hotel
have any questions or exceptional service wherever with a US company. Visit stays, cruises, and more.
visit any SCU branch to you go. Visit scu.mb.ca/world scu.mb.ca/uscreditcard to Visit scu.mb.ca/travel-rewards
make changes. to learn more and apply. learn more and apply. to learn more and apply.
IMPORTANT TRAVEL TIP:
Before you go, be sure to review all of the insurance coverage details for the credit card travel benefits
listed above to ensure you're covered.
Refer a new member
Refer SCU to your friends and family for your chance to WIN
Sourced from ‘The Little Black Book of Scams’, Competition Bureau Canada, 2012
1 of 3 $500 savings accounts. Visit us at scu.mb.ca/referral
to download a referral card or pick one up in-branch.
Deadline is June 30, 2019. One prize will be awarded per branch!
The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
1
Eligibility for rewards and/or account credit is subject to the terms and conditions of the FlexRewards program. For full terms and conditions, visit flexrewards.ca.
2
Insurance coverage is underwritten by American Bankers Insurance Company of Florida (ABIC). ABIC, its subsidiaries and affiliates carry on business in Canada under the name of Assurant Solutions®. Assurant Solutions is a registered trademark of Assurant, Inc.
Details of insurance coverage, including definitions, benefits, limitations and exclusions, are in the Certificate of Insurance. The Certificate of Insurance is available online at collabriacreditcards.ca. Insurance coverage is subject to change.
3
Insurance coverage is underwritten by Desjardins Financial Security Life Assurance Company. This document is provided for information purposes only. For details of the coverage, refer to the insurance contract or insurance certificate available online at
collabriacreditcards.ca. Some conditions and restrictions apply. Insurance coverage is subject to change.
Member News Winter 2019
Serving every
type of investor
What type of investor are you? Are you looking to build
your portfolio from the ground up? Want to work closely
with an advisor who can guide you every step of the way?
We have the solution to meet your investment needs.
A financial expert in your corner
Through our Credential partner, we provide access to financial advice
and planning from a team of experts. They work with every level of
investor, providing financial planning and advice to meet all of your
retirement and investment needs. Learn more and meet our wealth
management team: scu.mb.ca/mywealth
Digital advice from VirtualWealth®
Invest your money, not your time with our simple and convenient online
investing service. VirtualWealth offers a professionally managed, low-cost
portfolio, along with help from knowledgeable representatives who are
available by phone and email. Try VirtualWealth: scu.mb.ca/virtualwealth
Blaze your own trail with Qtrade Investor
We provide access to an affordable self-directed investing solution through Qtrade Investor's easy-to-use and comprehensive trading platform. With
its low-cost commissions and fees, powerful research tools, and an intuitive platform that keeps you connected, Qtrade has consistently been rated
among Canada's best by independent reviewers, including The Globe and Mail, MoneySense, and Surviscor. Explore Qtrade today: scu.mb.ca/qtrade
Online brokerage services are offered through Qtrade Investor. Mutual funds and other securities are offered through Credential
Securities. Qtrade Investor and Credential Securities are divisions of Credential Qtrade Securities Inc. Credential and Credential
Securities are registered marks owned by Aviso Wealth Inc. Mutual funds are offered through Credential Asset Management Inc.
VirtualWealth is a trade name of Credential Qtrade Securities Inc.
Give your child a head start with an RESP
A post-secondary education can be a Grant (CESG), the federal government
tremendous advantage for anyone trying to provides 20 cents for every contributed
get ahead in life, but it does not come cheap. dollar, up to a maximum of $500 per year.
According to Statistics Canada, the average Families earning below $77,769 can earn
undergraduate tuition fees for full-time an additional 10 cents per dollar up to the
students in Manitoba range between $3,814 first $500 contributed annually, while
and $4,417, depending on the field of study. families earning below $38,832 can earn
In other provinces, they can be as high as an additional 20 cents per dollar (again, up
$10,000 per year. to the first $500 contributed annually).
Source: Tuition fees for degree programs 2018/2019,
Saving for your child’s education can have
Statistics Canada, published Sept. 5 2018.
a tremendous impact on them. Having a
A Registered Education Savings Plan (RESP) financial cushion like an RESP means your child
is a great solution. A parent (or grandparent, can focus their attention on their education.
spouse or common law partner) makes
Learn more about RESPs at scu.mb.ca/resps.
after-tax contributions to the plan.
Or, visit us in-branch to open an RESP today.
Another great advantage of an RESP is that
through the Canada Education Savings
Beware of
tax scams
Got a call or email from the Canada Revenue Agency (CRA)?
Make sure it's real!
HERE'S THE SCENARIO: You get a text message or an email from the
CRA claiming you're entitled to an extra refund and all you need to do is
provide your banking details. Watch out—this wonderful-if-true situation
IT’S ALSO IMPORTANT TO KNOW THAT THE CRA WILL NEVER:
is exactly what a tax scam looks like.
• Use aggressive or threatening language
Another variation is that they call you to say that you owe the CRA
• Threaten you with arrest, or that they will send police
money and that you need to pay right away, or else they will report you
• Ask for payments via prepaid credit cards or gift cards
to the police.
• Collect or distribute payments through INTERAC e-Transfer†
In any case, if you do receive a call, letter, email or text saying you • Use text messages to communicate under any circumstances
owe money to the CRA, you can visit the CRA website and login to
If you suspect a scam, always report it. Learn more about how to protect
"My Account" or call 1.800.959.8281.
yourself from fraud, visit scu.mb.ca/fraud-protection.
Emails from the CRA never ask for, or provide, personal information.
The CRA’s accepted payment methods are online banking, debit card, Source: The little black book of scams, 2nd edition. Competition Bureau Canada, 2018.
and pre-authorized debit.
Vote Now! Important
Annual General Meeting reminders
SCU invites you to our Annual General Meeting This year, members will be electing three
about AGM
(AGM) on Tuesday, March 19, 2019. This 3-year positions. The candidates include: We’ve made some changes
year, our meeting will be held at the Steinbach to our AGM this year.
Mennonite Church, 345 Loewen Blvd, Please remember:
Dr. Jayson Mr. Reg
Steinbach, MB. Registration will begin at 6:30 Barkman Penner
(incumbent) New location
p.m., with the meeting beginning at 7:00 p.m.
Steinbach Mennonite Church
Members will begin receiving ballots in the
345 Loewen Blvd.
mail in mid-January. Steinbach, Manitoba.
Mr. Robert Ms. Amanda
We encourage you to vote online! For each Penner Peters
(incumbent) (incumbent)
online ballot received, SCU will donate $1 to No voting at AGM
You can vote online, by mail,
charity. To vote online, please have your ballot
Please join us for the AGM to hear reports on or in the branch. Check your
on-hand, visit www.scu.mb.ca and click on
the 2018 year, as well as election results. Prizes, voting package for voting
the “Vote” button on our homepage. You can
music and refreshments will be provided! deadlines and details.
also vote by mailing in your ballot, or by
visiting any SCU branch.
Reg Russ Henry Doris Robert Rob Maria Amanda Bruce
Penner Fast Van de Velde Martens Dueck Penner Reimer Peters Penner
Chairman 1st Vice-Chair 2nd Vice-Chair Director Director Director Director Director Director
†
INTERAC e-Transfer is a registered trademark of Interac Corp.. Used under licence. All information in this newsletter is subject to change without notice and is not binding on decisions made by SCU.
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