UCU Wealth Strategies Group –Year-End Investing Checklist

This has been a year like no other – a global pandemic, a shift to working from home, online classrooms, and a volatile stock market. All of this has had a tremendous impact - not only on our daily lives - but on our personal finances as well. While the year-end traditionally brings joyous holiday celebrations with family and friends – this year might cap off differently - with COVID restrictions upending festive plans.

With all the uncertainty prevailing it is important to stay on top of your finances –so this end-of-year, take time out to review your overall financial situation and plan for the year ahead.

Use this simple checklist to prepare your finances for the New Year.

Review Your General Finances

Take a closer look at your general finances to make sure they are in line with your financial goals.

• Emergency Fund – do you have a well-funded plan with enough cash on hand to cover your expenses for up to 6 months if you lose your job?
• Insurance Coverage – do you have adequate insurance protection against unexpected events?
• Estate Planning – do you have an updated will?
• Debt Plan – have you created a schedule to pay off your debts and are you on track with your payments?
• Credit Report – have you checked your credit score/standing this year?

Rebalance Portfolio                             

The end-of-year is a good time to review your investment portfolio to make sure your asset allocation – the mix of volatile and stable funds – is in line with your financial goals.  Based on tax planning and other strategies – you may want to adjust the holdings in your portfolio. A UCU Wealth Strategies, Credential Securities or Credential Asset Management Inc. advisor could help you navigate the uncertainty and provide clear advice to keep your investment portfolio on track.

Maximize your Investment Accounts

• RRSP - Know your RRSP contribution limits and maximize your RRSP contribution by taking advantage of unused limits from previous tax years - which are carried forward to this current year. You have until March 1, 2021, to contribute in order to generate a tax credit this 2020 year.
• RRIF - If you are retiring soon or about to turn 71 then you are required to convert your RRSP into a RRIF (Registered Retirement Income Fund).
• RESP - The contribution deadline for RESPs is December 31. If your beneficiary is under 17, your contributions will qualify you for the Canada Education Savings Grant – which is grant money the Government adds to your RESP contributions.
• TFSA - Withdraw any planned funds before the end of the year –and the amount of your withdrawal will be added back to your contribution room on January 1 of the New Year.

Budget and Automatic Savings

Review your monthly budget – income, expenses and savings – and see if you can trim some expenses to create more savings. If you don’t have a budget, now would be a good time to create one – it will help you stay on track to achieve your financial goals.

To boost your savings – consider opening a high-interest savings account like ucublu, or an investment account like a TFSA.  Set up automatic contributions directing part of your income to your savings or investment account and watch your savings grow.

For more information about please visit the UCU Wealth Strategies website

*Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.

Build Your Emergency Fund with ucublu High-Interest Savings Account

 

The pandemic lockdown has put a spotlight on the financial habits of Canadians- and it reveals that people who had a more disciplined savings routine were better able to manage their finances during the uncertain economic times.

Canadians who listened to the advice of financial planners and created an emergency fund were in a better position to meet their financial obligations. They were also less likely to dip into their retirement or investment plans to pay their bills.

New Financial Habits – Start an Emergency Fund

The lessons learned from the COVID-19 lockdown has fostered new pandemic financial habits - top of the list is saving for an emergency fund.

Many financial experts recommend having a minimum of three to six months of your basic living expenses put away in an emergency fund - while other financial advisors say having nine months’ worth of living expenses is a more realistic figure to safeguard against future financial hardship.

Start or Replenish Your Emergency Fund with a ucublu High-Interest Savings Account

Building an emergency fund is different from investing. With investing - your money is tied up in stocks, mutual funds or exchange-traded funds and not easily accessible when needed. An emergency fund, on the other hand, should be liquid and easily accessible - like UCU’s virtual ucublu High-Interest Savings Account.

ucublu High-Interest Savings Account is an online-only account designed for long term savings and not intended for daily transactions. It has all the advantages of a term deposit without the need to lock in your money for a fixed period of time. It also pays a higher interest rate than a traditional savings account. Learn more about the many ucublu benefits and how to open an account. [link to ucublu article]

How to Start an Emergency Fund

Having a well-funded emergency fund takes time to build. Make small monthly deposits into a higher interest-earning account like the ucublu High-Interest Savings Account, and don’t pull out the money until you reach your financial goal.

• Determine your essential monthly expenses such as housing, utilities and food
• Trim or eliminate discretionary spending such as cable, dining out and entertainment expenses
• Determine the amount of take-home pay can you put away and make regular deposits into your fund
• If you can, deposit other income such as a tax refund or bonus to boost the fund balance

A Savings Buffer to Keep Your Financial Plan on Track

Creating a well-financed emergency fund will allow you to cover your monthly expenses in the event you lose your job – and it will also preserve your investment funds and keep you from incurring additional debt.

• Retirement Accounts – Reduce the need to tap into your retirement fund and pay a penalty as well as incur a higher income tax bill
• Investment Accounts – You won’t need to sell stocks or other funds to generate emergency income
• Lines of Credit – You won’t be tempted to tap into your line of credit and increase your debt load

Read more about the ucublu High-Interest Savings Account 

ucubiz Virtual Account – a Small Business Banking Solution for Your E-Commerce Needs

 

The COVID -19 pandemic has changed the way Canadians shop and many storefront retailers have been quick to respond to the changing economic landscape by shifting their daily operations to online sales.

Since small businesses were forced to shut their doors during the COVID -19 lockdown, many of them have turned to e-commerce to keep their businesses afloat.

Curbside pick-up and contactless delivery of products have surged – and as a result, many small businesses are considering making e-commerce a permanent component of their daily operations.

Grow Your Business and Your Business Savings

The ucubiz Virtual Account is a small business account for Members who want an online banking solution that will complement their growing e-commerce business.

This small business account is operated and managed by you online - you can move money and pay your bills with your ucubiz virtual account using your computer, smartphone, or tablet.

You will save time and money by not having to visit your local branch to conduct your business transactions – time and money that you can put towards growing your business instead.

No Monthly Fee – No Minimum Balance – No Service Charges

ucubiz Virtual Account is designed for small business owners who prefer to conduct their banking transactions online.

No Monthly Fees will be applied to your account - most banking transactions will be performed by you and not your local Branch teller.

No Minimum Balance required to maintain your account.

No Service Charges will be added to your account for transactions using:

• UCU and Exchange Network ATMs
• Electronic Credits
• Online Banking
•  Mobile Banking

Added Features

• Two FREE in-branch banking transactions each month
•  Business Overdraft Protection option

ucubiz Virtual High-Interest Savings Account

When you open an ucubiz Virtual Small Business Account you will automatically receive a ucubiz Virtual Savings Account. This is a higher interest savings account that will allow your business savings to grow.

• Interest rates can be found on our website

For more information about the ucubiz Virtual Small Business Account, please visit the UCU website website

 

 

ucubiz Community Account – the Business Account for your Community or Not-For-Profit Organization

 

For over 75 years, UCU has supported the maintenance and growth of many Ukrainian cultural, educational, religious, and recreational organizations. UCU has sponsored and promoted many organizations that have contributed to the vibrant Ukrainian community life we experience today.

As UCU recognizes the impactful work of each group – it also helps many local community organizations and registered charities with their banking needs.

Most Community-Based Organizations Need Their Own Business Account

If you run a community organization or not-for-profit charity then it is advantageous to have a bank account in your organization’s name.

With an ucubiz Community Account your organization can:

• Keep track of your organization’s money
• Apply for government grants
• Collect donations or fees

ucubiz Community Account – No Fee Business Account

With the ucubiz No-Fee Community Account, your organization and charity can keep more of its money since there is no fee for day-to-day transactional banking.

Some charges will be applied if your organization requires additional banking items such as:

• Certified cheques
• Bank drafts
• Personalized chequebook
• Send Interac e-mail transfer

ucubiz Community Account May Benefit Your Organization

Open an ucubiz Community Account if your community organization or not-for-profit is one of the following:

• Cultural – dance groups, choirs or theatre groups
•  Sports - recreational youth and adult sports teams
•  Educational – Ukrainian based education activities or publications
• Church – religious groups that support local churches
• Registered Charity

ucubiz Community Account – Supports your Organization as it Grows

UCU will support your organization or charity as it grows by offering additional electronic payment options such as Merchant and Cash Management Services.

For more information please visit our website

 

Grow Your Business with UCU Merchant Services

 

Customer behaviour is rapidly changing with an increased shift towards e-commerce. Customers want to shop and buy online, pay for their restaurant meals at their table or use their credit/debit cards when shopping at pop-up stores or markets. Businesses are looking for merchant services that will help with the transition to e-commerce and UCU Business Banking has the right solutions to help your business grow.

Reliable Payment Solutions That are Right for Your Business

UCU Merchant Services has a wide range of payment solutions that will simplify the way you run your business. No matter what type of business you have, UCU Merchant Services will provide secure payment solutions that will better serve your customers. Your business will be able to accept credit and debit card payments from customers that are made in person, online or on the go.

Payment Solutions

UCU Merchant Services has partnered with First Data and Everlink to provide reliable credit card processing and payment solutions which include:

In-Person Payments

Your customers can pay in person with their credit/debit cards using safe and secure contactless payment terminals.

• Countertop Terminals - For you storefront business with a hard-wired point of sale terminal
• Portable Terminals – For restaurants or other business that need wireless terminals that allow customers to pay at their tables or away from countertops
•  Remote Solutions – For businesses on the go that operate at pop-up stores or markets. Your customers can pay through smartphones or tablets using a credit and debit card reader.

Online Payments

Your customers can order pay and pay for purchases on your website or through your computer.

• Virtual Terminal – For businesses that do not have a website – Your business can accept payment from your computer through a secure web portal.
• E-Commerce Solutions – For businesses that want to accept payments through their website

Grow Your Sales and Better Serve your Customers

UCU Merchant Services go beyond providing reliable payment solutions that include business services to help grow your sales.

•  Online Reporting Tool – Provides customer behaviour and unique insights that will make you better understand your current customers and target new customers.
• Loyalty Programs – Set up a loyalty card program to reward your current customers and attract new customers.

Security and Fraud Protection

UCU Merchant Services provides the most up-to-date security, privacy, and fraud protection to keep your business data safe and reduce your business liability.

Round the Clock Customer Service

UCU Merchant Services offer 24/7 customer service support because your business is more than a 9-5 operation. The Help Desk is always open to answer your questions and provide much needed support for your business.

For more information about UCU Business Merchant Services please visit our website

Or contact a UCU Business Merchant Service Representative who is available to help you with your business merchant service needs. Contact Us

UCU Wealth Strategies – Invest with Advice

 

Start your investment journey with a financial advisor by your side

If you are looking to develop a financial plan or create an investment portfolio, then working with an investment advisor is a smart way to achieve your financial goals.

Seeking the guidance of a financial advisor makes sense if you do not have a lot of investment knowledge or if you have a larger sum of unproductive money you want to invest.

The UCU Wealth Strategies Group with will provide expert advice to help you invest with confidence.  Investment Advisors Michael Zienchuk, Roman Mlynko, Tatiana Koroliova with Credential Securities and Mutual Fund Investment Specialists Kateryna Litvinjuk, Vlad Karman, Myroslava Fil with Credential Asset Management Inc. will expertly manage your investment portfolio and provide valuable advice to help grow your assets.

What is an investment advisor?

An investment advisor provides advice and analysis of your personalized investment or financial goals which include:

• Advice for investing in securities such as stocks, bonds and mutual funds
• Create and manage your investment portfolio
• Develop your long term financial goals
• Evaluate financial implications of previous investment decisions

Studies have shown that investors who work with an advisor accumulate more assets than those who do not.

UCU Wealth Strategy Group Investment Advisors and Mutual Fund Specialists have over a decade of experience, in-depth knowledge and credentials to add value to the management of your investment portfolio.

The Investment Advisor will work with you to:

Accumulate greater wealth by helping to create an investment strategy that is the right fit for your lifestyle, financial goals and risk level

Create a retirement plan so you can retire comfortably and live the life you envisioned

Develop a disciplined strategy to keep your long-term investment plan on track

Provide guidance so you can make informed investment decisions

Give calm advice to prevent emotional investing

Find investment opportunities in a volatile stock market

Schedule a free consultation by contacting the UCU Wealth Strategies Group through our website

*Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.

UCU Wealth Strategies Group – Self-Directed Investment Accounts

 

UCU Wealth Strategies Group, partnered with Credential Securities and Credential Management Inc., provides expert investment advice for every type of investor from the cautious to the risk-tolerant. But UCU Wealth Strategies Group Advisors also realize some people prefer to make investment decisions on their own - and they encourage those investors to consider UCU Self-Directed RRSP, RESP and TFSA Investment Accounts or Qtrade for their investment needs.

UCU Investment Accounts

UCU provides a range of Investment Accounts that can help you save for your retirement, your child’s education or for whatever else is important to you. These are government registered plans that offer tax advantages that will help your invested funds grow tax-free until they are withdrawn.

RRSP - Registered Retirement Savings Plan

The gold standard investment account for retirement planning.  Created by the federal government to encourage Canadians to save for their retirement – it provides tax breaks to those who invest in RRSPs.

Contribute up to the yearly maximum amount outlined on your most recent income tax return and you will not pay tax on that investment amount on the following year’s tax return.

An RRSP is considered a tax-deferred account – meaning you do not pay tax on the investment amount while it is growing in the fund. You will however pay tax on the amount you withdraw – but since your yearly income in your retirement years may be substantially lower – your yearly income tax payment will be lower as well.

RESP - Registered Education Savings Plan

An investment account designed to help save for a child’s post-secondary education.

The RESP account subscriber can be the child’s parent, grandparent or family friend - the account beneficiary is the child who enrolls in an accredited post-secondary institution.

Contribute up the maximum lifetime total of $50,000 per child and watch the funds in the RESP grow in value tax-free.  When the money is taken out to pay for the student’s post-secondary education the withdrawals will appear as income on the student’s tax return. Since the student will most likely earn little to no income while studying, the student will most likely pay little to no income tax on the RESP investment.

Open an RESP and take advantage of the Canadian Education Savings Grant. The Canadian government will contribute 20% of RESP contributions up to a maximum of $2,500 per year for a total lifetime grant benefit of $7,200 per beneficiary. That’s free money to support your child’s education.

TFSA - Tax-Free Savings Account

One of the best investment accounts for growing your money tax-free. It was created by the Canadian government to encourage people to invest and grow their savings. A TFSA can be used for any savings goal with no restrictions placed on what you can spend your money on after you take it out.

Invest up the yearly limit of $6,000 and you won’t pay taxes on the investment income or the money earned in your TFSA. There are no restrictions on when you can withdraw your money – you can have access to it anytime – and you won’t pay a penalty for taking out your money. It is a win-win investment account for savers.

More information about the investment accounts can be found on the UCU website (link to webpage)

Qtrade Investor

Qtrade is an online self-directed investment platform that allows you to build your investment portfolio at a low cost.   It is Canada’s number one online trading platform and it will give you access to a catalogue of in-depth research of publically traded stocks. Qtrade will also provide you with some customer support - but you are ultimately in charge of the decision making, stock selection and maintenance of your investment portfolio.

More information about Qtrade Investor can be found on the UCU Wealth Strategies Group  webpage 

*Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.

UCU Internet Banking – Traditional Banking Services That You Do Online

 

Internet banking has now become the most common form of banking in Canada. More Canadians are conducting their daily banking transactions online than in person at their local branch. They like the convenience of banking at a time and place that is suitable to them - using their computer, smartphone or tablet.

More and more UCU Members are using UCU’s Internet Banking Feature

Internet banking is a simple and secure way to bank. No need to re-arrange your day to schedule a time to get to your local UCU Branch during business hours - and no more waiting in line to see your local teller. Your everyday banking transactions can now be performed by you online anytime, anywhere.

UCU Members who use the UCU Internet Banking feature like: 

• the convenience of having their updated account information at their fingertips
• the ability to move money between their accounts
•  the option to their pay bills online

Your Money is Safe and Secure with UCU Internet Banking

UCU’s top priority is the safety and security of your money. Preventative measures have been put in place to ensure your money and your data are protected. These measures include:

• Extra layers of encryption – your banking information is turned into a numeric code as it travels between your computer and the UCU server which makes your data unreadable if accessed by a third party
• Secure UCU server and firewalls – designed to be a barrier between the internet and your computer- keeping your data safe and hackers out
• Several authentication steps – 2 tier password protection - you will need to input your user name and then enter a secure password to access your online profile – this validates your identity and prevents  anyone else to access your account
• Timed log-outs - your home banking session ends after of a period of inactivity - this limits the amount of time your account information remains visible on your computer screen in case you forget to log out of your online banking session
• Account login locks – your account will be locked if you - or someone else – enters your password incorrectly multiple times

UCU Internet Banking Advantages

No need to rush to your local UCU Branch for your basic banking transactions – with safe and secure UCU Internet Banking - you can manage your finances using your computer, smartphone or tablet. UCU Internet Banking lets you:

Manage Your Accounts

·         View a list of all your accounts

·         Check the balance on each account

·         View transaction history of each account

·         View account statements

Transfer Money Between Accounts

·         Instantly transfer money between your accounts

·         Transfer money to another UCU Member’s account - after a one time in-branch teller setup

·         Set up e-Transfer to another financial institution account

Pay Your Bills

·         Pay your monthly bills

·         Add payee using the UCU search feature

·         Schedule recurring bill payments

·         Pay business taxes

Send Interac e-Transfers

·         Send money electronically to anyone with a bank account

·         Receive money directly into your bank account from anyone with a bank account

·         Increased limit amount on outgoing  e-Transfers

View Term Deposits, Loan Amounts and UCU MasterCard

·         View term deposits details, including their value at maturity

·         View outstanding loan amounts

·         Link to UCU Collabria MasterCard web page

Messages and Alerts

·         Set up alerts that will notify you about your account balance, scheduled payment and more

·         View messages

Quick and Easy Sign Up Process

Discover the convenience of UCU Internet Banking. Visit your local UCU Branch and ask for your personalized access – a UCU Representative will set up your online profile and explain the next steps. You will have access to the UCU Internet Banking feature the very next day.

More information about UCU Internet Banking can be found on our website

 

 

 

UCU Banking App – Do your Banking from the Palm of your Hand

 

Canadians love their mobile phones. Over 85% of Canadians own a smartphone – and approximately 44% of all online traffic in Canada is generated through the use of smartphones and tablets.  And this number keeps growing year after year. No wonder - our smartphones are usually within reach and we increasingly rely on them for everyday use.

UCU Banking App Advantages

UCU has made it even easier for you to conduct your everyday banking transactions using the UCU Mobile Banking App on your smartphone or tablet.

Download the UCU Banking App and have the benefit of accessing UCU’s banking services from the palm of your hand. With the UCU Banking App, you will have round the clock access to your bank accounts and you will be able to perform everyday banking transactions anytime from anywhere.

Easily Accessible - You will always have access to your banking information 24 hours-a-day, 7 days-a-week.

Convenient - No need to travel to your local UCU Branch – all your banking information is at your fingertips on your smartphone or tablet.

Control - You can schedule when to pay your bills or transfer money between your accounts

Secure – UCU Banking App has the same high level of security as UCU Internet Banking. Your money and banking transactions are safe and protected.

UCU Mobile Banking App Features

Accounts

• View a list of all your accounts
• View the transaction history of all your account
• View account details – Login ID, transit number, institutions number, full account number, current balance, current interest rate

Pay Bills

• Pay your bills by adding a payee and selecting the account
• Choose to pay your bill now, later or set up a recurring bill payment

Transfer Between Accounts

• Transfer money between your accounts
• Transfer money to another UCU Member - after a one time in-branch teller setup

 Interac e-Transfer

• Send money to someone who banks at another financial institution using their email address or phone number

Deposit

• Deposit cheques directly into your account by snapping a picture of the cheque using your smartphone camera

Schedule

• Schedule bill payments and transfer of funds to a designated account
• View your list of scheduled transactions

Lock’N’Block

• Manage your debit cards if they are lost or stolen
•  You can lock your debit card 
• You can block unauthorized ATM transactions and purchases

Messages

•  Receive personal messages, financial and urgent reminders

Alerts

• Customize alerts to let you know what is happening with you accounts
• Activate alerts you want to receive from a drop-down menu 

Rates

• View the up-to-date posted rates

Find Us

• Locate the nearest UCU ATM or Exchange Network ATM

Contact Us

• Call Centre phone number and office hours

 

More information about the UCU Mobile Banking App can be found on the UCU  website

 

Business Credit Cards - A UCU Webinar

In this webinar Roman Prokaziuk, Director, Business Performance at Ukrainian Credit Union Limited speaks about our business Mastercard offering. He explains the many benefits offered by our cards and helps you understand whether you should apply for the UCU Collabria No Fee Cash Back Business Mastercard®, the UCU Collabria Low Rate Business Mastercard®, or the UCU Collabria Platinum Business Mastercard®. Each has its benefits, but if you want to know which one is best for your business, then you should view this webinar.

 

Winning with Dividend Investing - A UCU Webinar

Roman Mlynko, CMT, CIM, CFP Wealth Strategies Consultant, at UCU and Investment Advisor at Credential Securities discusses the key benefits of dividend investing and how you can incorporate the strategy in your particular situation. This webinar was originally recorded on September 10, 2020.

ucublu too – No Fee Daily Chequing Account

 

ucublu too is an online chequing account that offers the services of a traditional chequing account plus a competitive tiered interest rate on the account balance.

ucublu too chequing account is accessed and managed by you online using your computer, smartphone, or tablet with no in-branch services are provided. Your local UCU branch teller will not have access to your ucublu too account and will not be able to perform transactions on your behalf.

Tiered Interest Rates

As more and more UCU Members conduct their everyday banking online – they eliminate the need to travel to their local branch to conduct financial transactions. Since ucublu too is a virtual chequing account - the cost savings of not using in-branch services will be passed on to you in the form of higher interest.

The ucublu too virtual chequing account can also give your savings a boost. With a tiered interest chequing account - the interest rate offered will increase as the balance of your account goes up.

ucublu too interest is calculated on your daily closing balance and paid on the last day of each month. The current ucublu too tiered interest rate can be found on the UCU App or website. (link to web page)

ucublu too No Fee Debit Card and Cheques

The ucublu too chequing account has a distinct debit card – separate from your full-service UCU debit card. With your ucublu too debit card you can access your online chequing account at all UCU and Exchange Network ATM’s.

You can also use your ucublu too no fee debit card at retailers to pay for your purchases.

If you prefer to use cheques - you can order cheques that will be issued from your ucublu too account.

ucublu too Features

• Free Interac transactions
• Free direct point of sale purchases by debit card
• Free bill payments
• Free chequing services
• Free UCU and Exchange Network ATM transactions

No Monthly Fees – No Minimum Balance

There is no minimum balance required to maintain your ucublu too virtual chequing account – you will start earning the tiered higher interest rate on every dollar you deposit into your account.

There are no monthly fees associated with the ucublu too account but some services charges will be applied for NSF cheques, printed material requests and some UCU Call Centre transfers. A full list of services charges can be found on our website (link to website)

Overdraft Protection

You can apply for overdraft protection for your ucublu too account to cover any cheques that were cashed with insufficient funds in your account. Service charges will apply only when your overdraft protection is used.

Easy Online Application

Opening a new ucublu too account is quick and easy.

If you have a direct deposit of either a payroll cheque or monthly pension to one of your UCU accounts then you qualify to open a ucublu too account.

• Just visit our website’s ucublu page and click on the Open an Account button
• Complete the online application by providing the required personal and account information
• A ucublu representative will contact you within 2 business days about your new account

For more information about the ucublu too account, please visit our website. Or click here to open an account: OPEN AN ACCOUNT.

ucublu – High-Interest Virtual Savings Account

 

ucublu is a high-interest savings account that operates completely online – with no in-branch services provided.

Only you can move money in and out of your ucublu high-interest virtual savings account using your computer, smartphone, or tablet.

More and more UCU Members are conducting their everyday banking online - eliminating the need to travel to their local branch.

Your local UCU branch teller will not have access to your ucublu account and will not be able to perform transactions on your behalf.

Higher Interest Rates

ucublu is a virtual savings account available only online and cannot be accessed by your local branch teller. This means the cost savings of not using in-branch services will be passed on to you in the form of higher interest rates.

ucublu interest is calculated on your daily closing balance and paid on the last day of each month. The current ucublu interest rate can be found on the UCU App or website. (link to web page)

Make Your Savings Work For You

ucublu is designed for long term saving and not intended for daily banking transactions. With unlimited deposits but only one free monthly debit – you can grow your money faster with ucublu virtual savings account.

ucublu has all the advantages of a term deposit without the need to lock in your money for a fixed period of time. You can move your money in and out of your ucublu account at any time – but you will be charged a service fee if you make more than one debit transaction per month.

With higher interest rates and no fixed terms – you can start saving today for whatever is most important to you.

No Monthly Fees – No Minimum Balance

There is no minimum balance required to maintain your ucublu virtual savings account – you will start earning the high-interest rate on every dollar you deposit into your account.

There are no monthly fees associated with the ucublu account - as long as you make no more than one debit transfer per month to your linked UCU full-service account.

If you make more than one withdrawal per month you will be charged a service fee of $5 for each additional debit transaction.

ucublu Features

ucublu deposits and debits are made through your linked UCU full-service savings or chequing account.

Deposits: ucublu online savings account encourages you to save money by offering an unlimited number of deposits free of charge:

• Transfer funds from your linked UCU full-service savings or chequing account
• Direct deposit of your payroll or pension
• Automated deposit from your full-service UCU savings or chequing account
• Direct deposit from your account at another financial institution
• Balance transfer from another financial institution

Withdrawals: to encourage saving your ucublu online savings account limits your no-charge debit transactions to include:

• One free monthly transfer to your full-service UCU savings or chequing account
• Service charge fee of $5 for each additional monthly debit transaction

What Is Not Included

Since ucublu is an online high-interest savings account that promotes long term saving - the following transactions are not included:

• ATM deposits or withdrawals
• Point of sale Interac transactions
• Automated transfers from ucublu to another financial institution or third party
• In-Branch banking

Easy Online Application

• Opening a new ucublu account is quick and easy.
• Just visit our website’s ucublu page and click on the Open an Account button
• Complete the online application by providing the required personal and account information

·         A ucublu representative will contact you within 2 business days about your new account

For more information about the ucublu account, please visit our website. Or click here to open an account: OPEN AN ACCOUNT.

 

Buying Your First Home

Learn about buying your first home from Vlad Karman, one of UCU's most experienced lenders. In this webinar, Vlad does a deep dive on everything you need to know when you decide to buy your first home.

UCU Small Business Accounts – a Chequing Account for Each Stage of Your Business

 

Starting a small business involves creativity, planning, and a lot of hard work. But one of the first things a small business owner should do when starting a new business is to open a Business Chequing Account. A separate bank account for your business will set the foundation for future growth. It is necessary for:

• Accurate bookkeeping
• Building your business credit
•  Provides a clear trail of your business revenue and expenses
• Simplifies your taxes
• Protects your liability
• Builds a business banking relationship
• Manage cash flow

As your business grows - so do your banking needs

UCU has a tailored business account that will provide targeted banking services for each stage of your business.

As your business grows, UCU will support your increasing business needs.

Stop paying for business banking services you do not use – select from a list of UCU Business Accounts that are designed to fit your specific business profile at a price that will help your small business grow.

Choose a ucubiz account that is right for your business

ucubiz Basic

The business chequing account for the small or new business that has relatively simple banking needs. Perfect for the business that makes a few transactions per month.

What it Offers:

• 5 free eligible transactions per month
• Service Charge for each additional transaction after the first 5
• Free Internet Banking
• Free Mobile Banking
• Optional Business Overdraft Protection

What it Costs:

•  $6.00 per month
•  Monthly fee is waived if the minimum account balance is $5,000 or more

ucubiz Advantage

The business chequing account for your growing business needs. Ideal for the small business that makes up to 30 transactions per month.

What it Offers:

• 30 free eligible transactions per month
• Service Charge for each additional transaction after the first 30
• Free Internet Banking
•  Free Mobile Banking
• Optional Business Overdraft Protection

What it Costs:

• $25 per month
• Monthly fee is waived if the minimum account balance is $50,000 or more

ucubiz Premium

The best value business chequing account for businesses whose banking needs require up to 60 transactions per month.

What it Offers:

• 60 free eligible transactions per month
• Service Charge for each additional transaction after the first 60
•  Free Internet Banking
•  Free Mobile Banking
• Optional Business Overdraft Protection

What it Costs:

•  $35 per month
• Monthly fee is waived if the minimum account balance is $250,000

ucubiz Power

For the growing business that performs up to 150 monthly transactions. Power your business with more transactions and fewer fees.

What it Offers:

• 150 free eligible transactions per month
• Service Charge for each additional transaction after the first 150
•  Free Internet Banking
•  Free Mobile Banking
• Optional Business Overdraft Protection

What it Costs:

• $85 per month

ucubiz Quantum

The most comprehensive banking option for the business with a high monthly transaction rate. Ideal for the established business that requires more flexible, cost-efficient banking services.

What it Offers:

• 300 free eligible transactions per month
•  Service Charge for each additional transaction after the first 300
•  Free Internet Banking
• Free Mobile Banking
• Optional Business Overdraft Protection

What it Costs:

•  $175 per month

More information about UCU Business Account can be found on the UCU website.