What's New ... keeping you informed!
Patronage Dividend Paid!
November 10, 2011 – The Board of Directors of Your Neighbourhood Credit Union declared that a patronage dividend of $180,000 be paid to members following the close of YNCU’s fiscal year on September 30, 2011. This brings the total of patronage dividends returned to members since 2005 to $1,540,500.
Kerry Hadad, CEO of Your Neighbourhood Credit Union, said “Patronage dividends are a hallmark of the credit union system, sharing the profits with the members who helped to create them. We’re very proud of our record of reinvesting in our community, and of sharing the wealth with those who choose to do their banking with us.”
Dividends were paid directly to member accounts on November 9, 2011. Payments ranged from $2 to $200 to eligible members.
Want a bigger dividend next year? The patronage dividend is a reward to members just for doing business with us; it’s one of our co-operative principles. If you want to participate in or get more from the "share the wealth" program, bring us more of your business! Move your mortgage to YNCU, consolidate your loans or savings, have your pay cheque direct deposited to your account here… all will add up to more absolute business with us, and increase the potential for a larger dividend!
Class B Shares
November 9, 2011 - At the Board meeting October 25th, the Board of Directors of Your Neighbourhood Credit Union declared dividends will be paid to our members who hold Class B shares.
The Board declared that Class B investment shareholders will receive a return of 2.71% this year, based on the guarantee made when the shares were offered for sale – that the shares would earn a dividend of the average of 5-year GICs at the Big 5 Banks on the last day of the fiscal year, plus 1%.
On September 30th, 2011, the average of 5-year GICs at the Big 5 Banks was 1.71%.
Dividends have been posted to Class B shareholder accounts, and share certificates will be mailed by the end of November.
A new Class B investment share offering is planned for early 2012.
Travelling outside of Canada? Got your CHIP card yet?
Banking is changing globally, but not every country is working on the same timetable. If you’re travelling outside of Canada and you’re still using a magnetic stripe debit card, it’s time to replace it with a chip card! Just visit your branch and we can give you one on the spot.
On the road and having trouble with your card? Call your branch.
Already have your YNCU CHIP debit card? You’re good to go!
Download the new YNCU ATM locator!
NEW! Do you have a smartphone? YNCU ATM Locator app is now available for your iPhone or BlackBerry smartphones. The apps are free! Just search for "YNCU ATM locator" in the list of available apps in the app store or click the following:
http://appworld.blackberry.com/webstore
http://itunes.apple.com/ca/app/yncu-atm-locator/
The YNCU ATM Finder will help you find a Your Neighbourhood Credit Union ATM nearest you. You can locate any credit union or bank ATM belonging to THE EXCHANGE® ATM Network within Canada. Wherever THE EXCHANGE® logo is present you can withdraw cash, perform balance inquiries, make deposits, and transfer funds - with no additional surcharges.
ATMs allow cash withdrawals, and the Prospera ATM Finder indicates:
- if deposits are accepted
- if PIN changes are available for chip cards
- available languages
- hours of operation
- whether or not the ATM is a drive-thru
Coin Sorters now available
We’re offering a new member service that can mean big savings! Coin Sorter machines are being installed in select YNCU branches. These machines automatically count your coins, and can turn loose change into savings, an RSP contribution, a college fund – whatever you want!
This service is FREE to YNCU member
How do they work?
Just dump your bucket of coins into the sorter. Coins pass through a cleaner and then a sensor that counts the total value by denomination. Counterfeits and foreign coins are automatically detected and separated. Once the machine has finished counting your coins, it prints a receipt that can be presented to an MSR for redemption or deposit.
You can bring your unrolled coins to any of these 4 branches!:
Cambridge Branch at the Cambridge Centre
Stratford Branch at the Festival Marketplace Shopping Centre
Windsor Branch at Tecumseh Road East & Rivard Avenue
Erb St. Branch at Erb Street West & Ira Needles Boulevard
Non-members are welcome to use the coin-sorters, but there is an 8.9% service fee.
We encourage you to try the new machines, and don’t forget to tell your friends and family about the machines too!
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