If I had a quadrillion dollars …

On Monday, the Zimbabwe government introduced the 100 billion Zimbabwe dollar note (for the uninitiated, a billion has nine zeros). So far this year, the country ravaged by hyperinflation has been forced to print 100-million, 250-million and 500-million notes in rapid succession. All of them are now almost worthless. It has become common now for Zimbabweans to talk of their daily expenses in trillions (one trillion has 12 zeros).

Only last week, the Harare Herald advertised the Lotto bonanza prize being offered was 1.2 quadrillion Zimbabwean dollars. At the time, that was equivalent to around 4,000 US dollars. Tills throughout the country have been struggling to cope, as have banking computers, and accounting systems. As a result, the banks recently agreed to lop six zeros off transactions and documentation. Economist John Robertson predicts that within a month they will be forced to drop another three.

In Yugoslavia, for example, the rate of inflation was five quadrillion per cent between October 1993 and January 1994. The government was forced to issue a 500 billion dinar note in 1993.

In Germany after World War I, prices were doubling about every two days and workers were paid daily or more often with bundles of cash. The highest value banknote issued by the Reichsbank had a face value of 100 trillion marks.

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TEUCU’s Essential Life Skills Grant Winner!

We wish to thank all those who applied for TEUCU’s Essential Life Skills Grant.

We are proud and honoured to award our first Essential Life Skills Grant to

Jeanine Petten. Jeanine’s qualities, skill sets and core values represent the

very best of what our Credit Union aspires to.

Congratulations on your hard work and continued success!

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Keeping our members protected.

At TEUCU we care about our members and their security. If you receive a suspicious email or a pop-up window asking you to verify or submit confidential or personal information such as your account number, PIN, password do not respond and do not click on any of the links provided. Please contact us immediately at 416-542-2522 and forward any suspicious emails to us at security@teucu.com.  For more information on how to protect yourself against scams and other fraud please visit our website at www.teucu.com and click on “Member Alerts”.

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Attention TEUCU Members!

Life Investors Insurance Company of America has changed its name. The company’s name is now Canadian Premier Life Insurance Company. If you have any questions please give us a call at 416-542-2522.

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10 Year Level Term Life Insurance

  • Premiums stay the same for the duration of the term.
  • No medical questionnaire upon renewal.
  • Provided through Canadian Premier Life Insurance Company
  • TEUCU Members only.
  • Give your family peace of mind.
  • $5,000.00-$500,000.00 Coverage (additional coverage available, please call 416-542-2522 for more details).

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