Canadian Anti-Spam Law (CASL)

The Canadian Anti-Spam Law (CASL) went into effect July 1, 2014. It is in place to protect Canadians while ensuring that businesses can continue to compete in the global marketplace. On July 1, 2017 the third phase of CASL comes into effect. From time to time Energy CU staff may contact our members via email or other electronic means in order to serve them more efficiently. If at any time you would prefer not to receive electronic messages from The Energy Credit Union Limited, please contact us by email or phone 416-238-5606.

You can give your consent online here.

Visa Rewards Program Update!

For those of you that have upgraded to the Energy CU Visa already, you will see some exciting changes to their reward program.

Starting February 20, 2018 you will see the following additions.

  • Expanded merchandise product assortment has been expanded to over 28,000 items.
  • New items will be updated each day and available to members for redemption each time they log on.
  • All orders will now be placed immediately in real-time, which means that any out-of-stock issues will be known immediately.
  • Shipping information will be received by cardholders after ordering and cardholders will now be able to track their orders within the online order summary.

If you haven’t applied for your Energy CU Visa, what are you waiting for? Call our offices or apply online today!

Simplii ATM cards having issues…

After a few of our members had issues trying to perform transactions at our Service Centre ATM with their Simplii ATM card, we investigated the issue.

Subsequently, our network provider reached out to the Simplii card issuer and it seems Simplii is aware that there are issues with some of their new ATM cards. Simplii is apparently working to correct and replace the defective cards. They are suggesting the cardholder speaks with the financial institution.

 

RRSP DEADLINE MARCH 1ST, 2018

If you have an RRSP variable account open you can easily contribute online through our Cyber Banker. If you need funds to take full advantage of your tax break, contact our loan department today! You can borrow for your TECU RRSP at the CU prime rate of 3.75%.

We are also offering Great promotional rates for new money to the CU. Limited time only! Conditions apply!

  • 1 year @ 2.20%APR*
  • 2 year @ 2.45%APR*
  • 3 year @ 2.70%APR *

If you have questions, or if you would like to speak to us about your RRSP please do not hesitate to contact our offices at 416-438-5606 or visit us online at www.theenergycu.com

*Some conditions apply. New Money only. Rates subject to change at any time. Limited time offer.

Family Day closure

Please be advised all branches of The Energy Credit Union Limited will be closed on Monday February 19, 2018 for Family Day.  We will reopen on Tuesday February 20, 2018.  Please note that CyberBanker: www.theenergycu.com and Telephone Teller: 416-465-8251 are available 24/7.

Travelling with your ATM card?

If you’re planning on taking a trip outside of Canada, please contact us at 416-238-5606 prior to leaving. Our ongoing monitoring programs have identified increased levels of fraud in certain countries recently. As a result, debit card transactions may not be processed in those countries effective 1 November 2016. If you are a frequent traveler to the US, you can sign a Bond of Indemnity which would allow you to have full access of your card without having to notify us each time, for the states you specify. Some conditions apply. For more information please contact us at 416-238-5606.

We apologize for any inconvenience this may cause, but the security of our Members and their funds is very important to us.

2018 TFSA Contribution Limit is $5500

  • All interest earned is tax free.
  • Transfer your existing TFSA from other Financial Institutions.
  • 2018 Contribution limit is $5,500
  • Total Cumulative contribution room is $57,500

You can still make your TFSA deposits in a variety of ways. You can choose to make your contribution as one lump sum. You can have an automatic deposit made to your TFSA from your payroll or account on a regular basis. You can also transfer your TFSA funds to the Energy CU from another institution. Please touch base with a TECU staff member to see how easy it can be to earn 3.15%.  If you have any questions about how you can maximize the rate you are receiving for your TFSA please do not hesitate to contact our offices at 416-238-5606.

*Some conditions apply.

You can do your own taxes with Canada’s #1 best-selling tax software.

No tax knowledge needed. With new and improved features to make it easier and faster to use, all you need to know is yourself. Energy CU members save 20% on TurboTax online products! Get your guaranteed maximum refund. Just log into our online CyberTeller and clink the link!

If you are wondering how to maximize your tax return, here is a way you can get some answers. If you choose to use Turbo Tax to do your tax return this year, you can use their handy RRSP calculator function to see how different contribution amounts can increase your return. If you need a little more cash for that RRSP deposit than you have on hand, just call our offices to apply or apply online for an RRSP line of credit or loan. If you use the Turbo tax link on our website you will also receive 20% off Turbo tax. Questions? Give us a call! 416-238-5606

Attention all Essential members!

Attention all Essential members! Please be advised that the annual Membership fee is scheduled to be applied to all Essential accounts by February 28, 2018. If you are an Essential Member and you would like to know more information about how you can avoid this charge, please visit our website here or give our offices a call at 416-238-5606.

DICO limit is now $250,000

The Deposit Insurance Corporation of Ontario (DICO) is an Ontario Provincial Agency established under the Credit Unions and Caisses Populaires Act, 1994 . DICO’s role is to protect depositors of Ontario credit unions and caisses populaires from loss of their deposits. Deposit insurance is part of a comprehensive depositor protection program for all Ontario credit unions which is backed by provincial legislation.

DICO helps keep Ontario’s credit unions safe and sound by providing deposit insurance and regulating their activities.

  • Your deposits are automatically insured up to the $250,000 limit (unlimited for deposits in registered plans);
  • You don’t have to pay for deposit insurance. Premiums are paid to DICO by credit unions and caisses populaires;
  • They insure most—but not all—types of deposits. See What’s Covered,What’s Not Covered;
  • They insure deposits placed in all credit unions in Ontario. See the list of active Ontario credit unions.