Education Loans
Members can apply for educational loans for a maximum amount of $5,000.00. Along with the completed application, the member MUST provide a current salary slip and a break down of tuition costs from the school. Early payments can be made over the counter, without penalty, on the full amount of the loan. Cheques are made payable to the school.
Deposit Account
This account has no minimum or maximum deposit to be considered active. Deposit accounts operate similarly to a saving account at a bank. Cash may be withdrawn up to $350.00; withdrawals exceeding $350.00 may be given in a cheque. Interest is calculated and paid annually on balances over $50.00.
Primary Shares Account
This account establishes membership in the credit union for a minimum investment of $25.00 per month (membership status is achieved once the balance reaches $50.00 and above). Funds in this account may be held as collateral against loans and credit cards.
Consumer Loans
Members can apply for consumer loans, after six monthly deductions have been received from their salary, for amounts up to twice their share balance. Early payments can be made over the counter, without penalty, on the full amount of the loans.
Junior Share Account
This account has no minimum or maximum deposit to be considered active. Members may open this account for their children, or minors that are under their care, aged 0 to16 years. Interest is calculated and paid annually on balances over $100.00.
Christmas Club Account
This account is open to members and non-members. Deposits range from $10.00 (minimum) to $200.000 (maximum) per month. The funds mature and are disbursed by the third week in November of each year. Interest is paid at 5.5% annually (subject to change). A penalty of $25.00 is charged if the account is broken before the maturity date. No interest is paid if the account is broken.
Fixed Deposits
This account is open to members. Deposits range from $ 1,000 to $50,000 at interest rates from 3% to 4% annually. Terms range from three to twelve months. A penalty of $50.00 or 1 ½% of the interest, whichever is greater, is charged if the account is broken before it matures. Interest rates are subject to change.
Fidelity Visa Credit Card
Members can apply for a Fidelity Visa Card after six monthly deductions have been received from their salary. Limits range from $500 to $2,500.