DEPOSITS/INVESTMENTS
REGULAR SAVINGS ACCOUNTS:
Interest is calculated on the minimum quarterly balance and paid
annually. Funds deposited into this account prior to January l, 1998
carry life insurance on the life of eligible members up to $2,000.00.
TERM DEPOSITS:
Specific amounts of money for specific terms from 1 year to 5 years.
Interest is paid monthly, annually, or at maturity; depending on
arrangements made.
DEPOSIT CHEQUING ACCOUNTS:
Available in Canadian and US dollar funds. Use a convenient chequing account for your day to day needs. Pay your
bills and purchases by cheque and always have proof of payment on hand.
Cancelled cheques and statements are given to members for their records.
Personalized cheques and business cheques are available at cost.
MAXIMIZER:
This account is for those who maintain a balance in their chequing
account. It combines chequing and savings into one easy-to-manage account,
and eliminates the bother of transferring from one account to another. You
may write cheques while still earning interest.
nCharge™ ACCOUNTS:
Available to youths 13 to 18. 15 free debit items. Chequing and MasterCard privileges
with written authorization from parents. Personalized cheques
are available at cost. Minimum on term deposits is $200.00.
NISA/CAIS:
These accounts are available with a three-tiered interest rate, based on
the balance held in the account and term deposits up to 5 years.
REGISTERED RETIREMENT SAVINGS PLAN (RRSP):
We offer our own variable rate plan with
interest paid semi-annually, and a 1 year to 5 year fixed plan.
REGISTERED RETIREMENT INCOME FUND (RRIF):
A flexible means of providing an income during your retirement. By
transferring your RRSP into a RRIF, you can continue to defer taxes and
maintain control over your retirement investments. Terms range from a
variable plan to a 5 year fixed plan.
REGISTERED EDUCATION SAVINGS PLAN:
An education investment plan that allows you to accumulate money to pay
for the expenses of post-secondary education for a child or grandchild.
Under this program, the government pays 20% on the first $2,000.00
annually.
MARKETFLEX:
A deposit where your principal is secure and you determine your rate of
return based on the performance of the Stock Index. RRSP eligible.
P24 SUPER RATE ACCOUNT:
This
account offers daily interest at term deposit rates. This tiered
savings account calculates interest on the closing daily balance and pays
interest monthly. The highest applicable tier interest rate is paid
on the total balance. Funds are always available to meet your short
term or long term needs.
LOANS:
Providing members with the best service and credit at lowest possible cost is a major
objective of the Kelvington Credit Union. Loans are available to members
for a variety of purposes on a confidential, personal basis.
The Kelvington Credit Union offers:
LEASES
GOVERNMENT SPONSORED LOANS
- Small Business Improvement Loans
- CMHC mortgages up to 95% financing
AGRICULTURAL/COMMERCIAL LOANS
Purposes:
- Equipment and Machinery
- Farm/Business Improvements
- Real Estate Purchases
- Operating Expenses
LINES OF CREDIT
- Available for consumer, agricultural or commercial operating
purposes.
- Set up as an extension of your Chequing account providing
overdraft protection.
- Variable rate based on security provided.
PERSONAL CONSUMER LOANS
General Information:
- Insurance available to qualifying members includes:
- Credit Life
- Credit Disability Insurance
- Member Term Life Insurance
- Line of Credit
- Group Mortgage Protection
- Contact our office for more information regarding premiums.
- Competitive Interest Rates
- Special Rates for loans secured by funds on deposit
- No application fees for loans over $3,000.00
- Automatic transfer of payments at no cost
- Prepayment without penalty (excluding CMHC and closed mortgages)
- Detailed annual loan statement
- For complete details or information, please ask our loan
department.
QUICK LOANS
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