Important notice

Upcoming changes to our chequing and savings accounts

In November, we are making changes to some of our chequing and savings accounts. These changes are the result of work we are doing to keep things simple and serve you better. The vast variety of products and fees associated with those products that we currently have makes it challenging for us to provide you with a consistent and remarkable experience. Making these changes will help us simplify and standardize the way we do business and continue to provide you with market leading products and services.

What's not changing

  • Cheques and pre-authorized payments will process as usual (e.g. insurance payments, payroll deposit)
  • Scheduled transfers (e.g. from chequing to savings)
  • Scheduled online bill payments (e.g. utilities and credit cards), including your post-dated online bill payments will process as usual
  • Access to account history and eStatements

How this change may impact you:

  • Your chequing, savings or registered accounts may have a new name
  • There may be changes in the interest rates for your chequing or savings account
  • Your account’s monthly fee may change (e.g. some members will no longer pay a fee, some will pay a new or different fee)
  • Equity Shares will now be known as Class B Equity Shares

Account fee and interest payment adjustments


Monthly Fees
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  • As of November, your monthly fee will be based on your new account. While most of our members will see a decrease in their monthly fee or no monthly fee at all, there will be a few members whose monthly fee will increase.

Transaction Service Fees
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In November, you may see charges for transaction fees twice (where applicable):

  • On November 23, members will be charged for any transaction fees occurring between November 1 and November 23, (based on your old account)
  • On November 30, members will be charged for any transactions occurring between November 24 and November 30, (based on your new account)

Interest payments for chequing and savings accounts
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In November, you will see two interest payments for balances you carry in your account (where applicable):

  • On November 23, members will receive interest for their account balance between November 1 and November 23, (based on your old account)
  • On November 30, members will receive interest for their account balance between November 24 and November 30, (based on your new account)

Please note that debit interest for any overdraft protection or line of credit balances will only be charged on November 30.

Changes to Online Banking Experience

After November 23, you may notice changes to your account in online banking.

  • Changes to the account name
  • Changes to portions of the account number, when it is being referenced
  • The order of which your accounts appear in online banking may change
  • If you download data to third party software (e.g. Mint.com; Quicken), you may need to update your account information that the provider holds to ensure you can access your transactions


 

To better understand how these changes may impact you, we always recommend reviewing your accounts with your local branch or calling 1-888-597-1083.