Wednesday, October 31, 2012

October 31, 2006 - It was not a pretty sight!

To get into the Hallowe'en spirit, and tie it in with our UCU Investment Challenge lll which has gotten off to a great start, we thought it would be fun to go back in time.  On this day,October 31, in 2006, the then (and still now) Minister of Finance, Jim Flaherty, made a very scary announcement that there would be new taxation rules applied to Income Trusts.  It was all trick and no treat for Canadian investors.

The new rules basically removed the tax advantage income trusts had as a corporate structure, forcing them to convert to a regular corporate structure.  Prior to this announcement, income trusts (business trusts and energy trusts in particular) had become an extremely popular form of business for Canadian corporations, and their performance was driving a strong TSX Composite index during the year.  However, the income trust sector took it on the chin, and according to the Canadian Association of Income Trust Investors, the new rules cost investors $35 billion in market value of their holdings in income trusts.  Real Estate Investment Trusts (REITs) were sparred the new taxation rules.

Let's hope that we don't get anything so scary again from government or market regulators.

Tuesday, October 30, 2012

Human Rights Committee of UWC will be holding a Community meeting on November 10, 2012 (7:00 pm) at KUMF, 2118-A Bloor Street West, Toronto. The discussion will focus on the human rights of Ukrainian immigrants  in Western Europe and Russia, as well as influence of "Russkiy Mir" ("Russian World") will be discussed. Moderator - Prof. J. Darewych. Admission is free (voluntary donations are appreciated). Contact 416-323-3020.

Зустріч Комісії Людських і Громадянських Прав СКУ із громадою.

10 листопада 2012 року. 7 година вечора.
Галерея КУМФ на 2118-a Блур Вест, Торонто

У програмі:
- Голова КЛГП Олександр Басмат, "Економічний аспект міграції та її роль у сучасній ситуації в Україні".
- Вплив " Русcкого миpa" на офіційні українські чинники в Португалії - за інформацією члена КЛГП Степана Пазишина (Лісабон).
- Голова Комітету у Спpавах Української Громади у Росії Василь Коломацький про порушення прав українців у Росії.
- Ситуація з правами людини в Україні - за матеріалами члена КЛГП Володимира Богайчука (Київ).

Модератор - професор Юрій Даревич.

Скористайтеся рідкою нагодою довідатися про українців у інших країнах!

Вхід вільний (добровільні датки).

Комісія Людських і Громадяньких Прав СКУ. Teл. 416-323-3020.

Monday, October 29, 2012

Week 2 of UCU IC lll - A Little More Competitive Now!

Following the lively discussion regarding the strong showing of George F.'s portfolio, which raced out ahead after Week One, we have a little more competitive position following Week Two, which has brought our leader back down to earth a bit, and has provided an opportunity for other portfolios to compete.

A rough week overall for the markets this past one (perhaps in anticipation of the brutal weather that is to come this week with Hurricane Sandy pounding the eastern seabord of the U.S.), we've had few portfolios make real gains, but for the most part, positions have held.

Our 1st place position remains in George F's hands, but his portfolio fell 21% from Week One to Week Two, to a level of $158,000.  In 2nd place remains Peter Tr., whose portfolio remained flat week over week and is holding at $114,621, while 3rd place, at $111,593, is Andrew R.

The largest gainers on the week included Christina G., whose portfolio gained 3% week over week, moving her portfolio higher in the standings by 19 spots!  Ihor D. and Tania K. both had 2% gains on the week, moving their portfolios higher in the standings each by 10 positions.  This is what we enjoy most, is watching how portfolio will even modest gains on a weekly basis, can make radical improvements in their spots in the standings!

Friday, October 26, 2012

Estate Planning Seminar

Last night at Ukrainian Credit Union's Wealth Strategies Group Office in Bloor West Village we held our estate planning seminar.  

We learned everything from protecting your estate to wills and powers of attorney with our special guest speaker Oksana Miroutenko Barrister & Solicitor. The evening was hosted by Anna Procio, Estate and Administrations Officer at Ukrainian Credit Union Limited.

Even though estate planning seemed a bit scary at first, after the seminar we all left knowing more about the process making it much easier to leave our finances in order for our heirs!

Want to see more pictures from the seminar? Click HERE for our Facebook photo album.

Tuesday, October 23, 2012

Welcome United Ukrainian Credit Union!

On the evening of Thursday October 18, the members of United Ukrainian Credit Union overwhelmingly voted to join with UCU. The official union will happen on October 31. Below are a few pictures of United Ukrainian Credit Union. There are more pictures on our FB page in the album titled UUCU votes to unite with UCU. Please welcome our new brothers and sisters in co-operation!

UCU Investment Challenge lll - Let the Games Begin!

Ukrainian Credit Union's 3rd UCU Investment Challenge has just completed its first week, and we have a good contingent of portfolios entered into this round.  We couldn't have picked a better time to get started, as capital markets have displayed a heightened level of volatility over the past few weeks, which will bring an interesting dynamic to our contest.

Our contest, although short in duration (9 weeks) is meant to be an investment contest.  Some have indicated a preference for more active access to trade their positions.  We did not intend to run a trading contest (although that may be something we'll think about for the future), but an investing contest, which requires a different type of approach when building a portfolio.  We recognize that there should be an opportunity to adjust a portfolio, and so we do provide one day to trade some, all or none of the portfolio positions.  This will occur on November 16th (midnight deadline).

Similar to what we've noticed in the previous two contests we have run, we notice a front runner that has jumped out to a commanding lead right at the get go.  The rest of the pack is quite strong, with over 70% of the portfolios entered generating a positive return following the first week!

Let's drill down a little bit and take a look at the top few positions following week one.  The TOP SPOT spot after 5 days of active markets sees George F. clearly ahead, as his portfolio has doubled in value.  George was quite clever in selecting stocks that were trading at a value of $0.005 per share on October 12th, our pricing day, and all three rose in value to $0.01 per share by the close on October 19th.  He holds 3 positions (the minimum required for the contest) focusing on resources (oil and gas extraction and mining).  His top position commands an 80% weight in his portfolio.

In Second Spot we have the portfolio of Peter Tr., whose portfolio generated a 14% return.  Peter has taken a more balanced approach to his portfolio, carrying 5 positions with the largest at a 25% weighting and the smallest at a 10% weighting.  Peter is also focused on resources.  All of Peter's positions had an starting value above $1.00 per share.

To round out the top three, Andrew R.'s portfolio generated just under a 13% return following the first week.  Andrew has a 3 position portfolio, with a slightly concentrated top position of 50%, and the other two positions almost equally weighted.  Consumer discretionary and info technology count for the bulk of his portfolio.

Please see our website at: Contestant Portfolios to view more details of each portfolio following the first week of activity, as well as to view the chart ranking each position so far.

Wednesday, October 17, 2012

International Credit Union Day

Happy International Credit Union Day!

Credit unions continually demonstrate their ability to improve the lives of individuals, families, communities and countries around the world, and have done so for generations. As we celebrate International Credit Union Day this October, we celebrate, with more than 196 million people worldwide, that we’re all part in making sure that members matter most. 

Monday, October 15, 2012

Culminating Art Show with Kosa Kolektiv

Come celebrate with Kosa Kolektiv for their opening reception of the Culminating Art Show Friday October 26th 2012 at 7:30pm at the Shevchenko Museum in Toronto. Artists Vasyl Karpiv and Yura Rafaliuk will be featured along with students of the Artist Exchange workshop series.

For more information click HERE

Gallery Hours: Friday October 26th, 7:30pm-10pm
Sat. Sun. 12 - 4pm
Mon. - Thurs. 10-4pm

Wednesday, October 3, 2012

Estate Planning Seminar

Protecting your Estate - Wills and Powers of Attorney

Our next seminar is all about Estate Planning. Everyone puts off estate planning till the last moment, but just think how happy your kids will be if you die with your affairs in a mess! Well, unless you hate your kids in which case at least the cats can probably fend for themselves if you don't leave them anything.

Tuesday, October 2, 2012

Investment Challenge 3 is right around the corner!

Are you ready for Investment Challenge 3, because it's right around the corner, don't forget to sign up, especially if you're in University! It could be great for your students club! Click HERE for all the details and to sign up today!

Monday, October 1, 2012

Events worth noting: December, January, February

UPDATED October 17 

All sorts of things are happening in the community this fall. We thought we'd post info about a few of them here for you. If you have an event that UCU is supporting through sponsorship, volunteer assistance or via an ongoing relationship with your organization, please feel free to send us information to post on the blog.

Please note events are listed in reverse order with the ones furthest away at the top of the page.

For events taking place in before December please click here: Events worth noting September, October, November

January 26, 2013
The Midnight in Kyiv Malanka is a gala fundraiser for Camp Sokil. The evening will feature Hudi a Mocni and Zapovid. Cocktails start at 6pm, dinner at 7pm and a midnight buffet to follow. $100 per person inclusive of all meals and beverages. 21+ event. Tickets are available only in advance. For more information or tickets visit or email

January 12, 2013
Billed as Toronto's biggest Malanka, the good folks at CYM Mississauga invite you ring in the new year po staromu with Zahrava and Hrim. $120 gets you one all inclusive (open bar) admission to the festivities. For more info click on the title of this entry, which should take you to the FB page for this event and then find the poster which lists a dozen people you can call to get tickets from. this Malanka will be held at the Mississauga Convention Centre.

January 12, 2013
Canadian Lemkos Association and the Association of Ukrainians "Zakerzonia" invite you to Malanka. To e held at the La Primavera Hospitality and Convention Centre 77 Woodstream Boulevard in Vaughan. Cocktails at 6, dinner at 7. Featuring live music by Horpyna  a Ukrainian band from Poland. $140 all inclusive.For more info visit:

January 7, 2013
Khrystos Rodyvsya!

January 6, 2013
Sviat Vechir

January 1, 2013
New Year's Day
How are those resolutions working out? Maybe let's wait till Malanka season ends somewhere around the late morning/early afternoon (depending on how dedicated of a party animal you are) of January 27 to revisit those resolutions....

December 31, 2012
New Year's Eve
...6, 5, 4, 3, 2, 1, Happy New Year!.... 

Should auld acquaintance be forgot,
And never brought to mind?
Should auld acquaintance be forgot,
And auld lang syne!

For auld lang syne, my dear,
For auld lang syne.
We'll take a cup o' kindness yet,
For auld lang syne. 

December 25, 2012
Christmas Day
Christ is Born!

December 24, 2012
Christmas Eve
Twas the night before Christmas, and all through the house...

December 7-9, 2012
Pavlo Lopata will be exhibiting his work at St. Joseph's Ukrainian Catholic Church in Oakville. 300 River Oaks Blvd East.

December 1, 2012
UCPBA Yalynka
This year's Yalynka will take place at Campbell House. Stay tuned for details.