TEUCU would like to inform…

TEUCU would like to inform all members that Stella Johnson from The Personal Home and Auto Insurance will be at our 500 Commissioners location to answer questions and provide information for your insurance needs. This will be taking place on Thursday November 2, 2006 between the hours of 6:30am and 9:30am. Please stop by with your insurance questions and see how you can save LOTS of $$$ too!

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Interruption of ATM/POS Transactions

You may have had trouble using your ATM/POS card during a 4 hour window yesterday. Just in case you were wondering why your ATM and POS purchases were not going through, it was because Everlink, our switch provider, experienced a province wide interruption between the hours of approximately 6:30pm-10:00pm. We regret any inconvenience that this may have caused.

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Getting a Loan at TEUCU

Many members have had the pleasure of getting a loan at the credit union. You see, at TEUCU lending is our core business. TEUCU’s lending staff provides creditworthy members with borrowing opportunities, while at the same time safeguarding member deposits. While steady employment is a plus, unfortunately we cannot lend on that basis alone. Our regulators require that certain criteria are met in order to justify a loan. What makes a member creditworthy? Good credit history, net worth, and depending on the amount you are looking for, you may require sufficient security. Also it helps if you have never been in the position of being insolvent. These are some of the criteria which TEUCU believe can prove you a good credit risk. In most cases we tend to find a solution that meets with your plan. We may not be able to do everything the first time around, but we will work on a solution that works for both of us. We rarely turn members down for loan requests. For more information please look in TEUCU’s upcoming quarterly Newsletter, The Connector (Fall 2006) Edition. As always if you have any questions, please contact TEUCU online (www.teucu.com), by phone 416-542-2522 or in person at either of our two branches 14 Carlton Street or 500 Commissioners.

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How TEUCU Bill Payments Work

If you have ever wondered the path your bill payment takes once you pay it at TEUCU, let us help you figure it out. All bill payments are sent electronically to our payer at approximately 8 am. So that means that any bill payments made via Homebank, telephone teller or in branch are collected and sent to Credit Union Central at this time. These bill payments are then collected, sorted and sent to the various merchants at approximately 4:30pm the same day, by Credit Union Central. Once the merchant receives the funds, any payment made is then credited to your personal account with them. To avoid any delays you can allow the merchant to take the payments straight out of your account via EFT, you can post-date payments online via Homebank, you can use the telephone teller, pay in branch and if you have plenty of time you can pay by cheque. Due to the fact that merchants are changing their account numbers on a continuous basis, TEUCU feels that these are the most effective ways for our members to pay their bills without having to place costly searches or traces for payments that have gone awry due to incorrect account numbers and unpostables. If you have any questions please call (416-542-2522), come in or visit us online ( www.teucu.com ).

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