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RRSP options for 1999 - 2000

In keeping with our aim of providing competitive financial services, we ensure having a wide range of options for Registered Retirement Savings Plan investments. Complete details at your local branch.

Choose from:

Variable rates Guaranteed Investment Certificates The Family of Ethical Funds Labour-Sponsored Investment Funds Top 100 Mutual Funds

During the next few months, you will see a wide variety of rates being offered by various financial institutions from our immediate area and from many miles away. Agassiz Credit Union is committed to meeting or beating any rate you may see in newspapers on the radio or on any billboard type advertising. We support our communities in many ways and we want your business. Come into our branches; tell us what you are considering and challenge us to do better.

Whatever your comfort level and tolerance for risk, Agassiz Credit Union has an appropriate product for you.

Plan to attend your credit union's Annual Meeting

The date has been set for our next annual meeting on March 22, 2000, at the community hall in Miami, Manitoba. One of the items that will be of interest to all members is the issuing of further surplus shares. This allows us to share profits with those members who support our financial institution. Agassiz Credit Union is experiencing a very strong financial year and even though we have had extensive costs related to Y2K issues and branch renovations, we fully expect to be in a position to duplicate previous years. As we have said before, we are positioning the credit union to be the financial institution of choice in our trading area. Come and attend our annual meeting - it's a chance to participate in your financial future.

MANAGER'S MESSAGE

Credit Union Day October 21, 1999 We had an overwhelming response to the October 21, 1999, Credit Union Day combined with the opportunity to see our newly renovated premises at Morden and Manitou.
Combined with this day we had a bust the bank promotion with CanAm radio and had a number of prizes available.

Morden - Abe Elias, Win Popkes, Julia Elias, Esther Wiebe, C. Dyck, Midge Bergman, Nettie Dyck, Kathy Schmidt, Coreen Cram, and Hilde Gerbrandt.

Manitou - Adele Messner, Adele Robinson, Reg Clayton, Mary Loeppry, Marg Rudd, Bryan Klippenstein, Laura Hamilton, and Gordie Clayton.

Miami - Peggy Alexander, Jean Prior, Alice Siemans, Fred Parkinson, Ron Jackson, Pam McCharles, Jodi Wetherup, Krista Robinson

We had a great day and look forward to next year's celebrations.

Product Profile

Index-Linked GICs

Monthly TSE Closing Index Levels

*For information only. Campaign not offered during this time.

UP CLOSE & PERSONNEL

We are pleased to announce the hiring of an additional Agri/Commercial lender to help Agassiz Credit Union to provide the level of service you have grown to expect.
Mr. Dan McCausland has over 15 years experience with the Royal Bank, with his most recent position here in Morden.
Dan, his wife Donna, and family, have made this decision mainly because Morden is the place they want to bring up their family. We at Agassiz Credit Union are very pleased to be able to attract an experienced lender who has a track record of being very capable of handling Agri and Commercial files with ease.
Welcome Dan, and we encourage members to drop in and say hello to the newest member of our team.

Term deposits - A good investment

Term deposits are a good, safe investment option. When you purchase a term deposit, you agree to place your money into an account for a specified period of time, from 30 days to 5 years. The choice is yours. You may select any term that suits your needs. If you want a term to mature on a specific date, we will accommodate your request. All of your money will be safe.GUARANTEED! This simply means, at the credit union, if you deposit $100,000 it is guaranteed for $100,000. Our guarantee comes from the Credit Union Deposit Guarantee Corporation. This organization has been part of the credit union system for over 50 years and they are required to guarantee, without limit, all the deposits you make with your credit union. This guarantee includes all principal investments in a savings or deposit account as well as any interest credited to that account.

Thinking about your RRSP contribution?

The deadline for RRSP contributions for the 1999 tax year is
Tuesday, February 29, 2000.

Why not set up regular automatic contributions through your account?
OR
Talk to us about an RRSP loan to maximize your contribution.
Both strategies are great ways to get you where you want to go!

Don't show me the money!

Karen Morrow walked into McDonald's in Sherbrooke, QC on a warm Saturday afternoon seeking a late lunch. The 19-year-old ordered a Big Mac and regular-sized Coke, the cashier quickly rung up the total of $4.18, and handed Karen her food. No cash changed hands. In fact, Karen says she touches cash only about once a week.
This small city, two hours outside Montreal, is the latest location where a cashless future is being tested. It's a world where customers don't have to fish for change for the parking meter or small bills for a taxi ride or a fast-food lunch. The smart card, put out by a division of Mastercard called Mondex, is part of an electronic cash pilot - the first community-wide pilot in North America.
How does it work? Electronic cash is loaded onto the microchip from a chequing or savings account using any Mondex-compatible ATM, or through an optional loading device connected to a home phone or personal computer. The microchip can be reloaded as often as needed. You'll always have the right change to pay for parking or vending purchases, plus everyday items such as a coffee and newspaper.
Mondex Canada Association consists of Royal Bank, Mouvement des caisses Desjardins, Bank of Montreal, CIBC, Canada Trust, Credit Union Central of Canada, HSBC Bank Canada, National Bank of Canada, Scotiabank and TD Bank.

Diversity builds strong boards

Have you ever considered running for the board of your credit union? When a board has a vacancy, you may be surprised to know that the best replacement is probably someone just like you. The strongest boards are made up of people from different walks of life - a financial background is not required. It is important that the board reflect the community it serves.
Ever wonder what the board really does? A board of directors has the responsibility of overseeing the general direction of the credit union. Boards are not there to become involved in the day-to-day operation of the credit union, but should clearly establish its aims and objectives.
A comprehensive director education program is available that covers everything from the historic role of credit unions to how to make the co-operative principles work in the financial community. The emphasis is on understanding directors' authority, responsibility and accountability, and providing the tools required for making decisions.
Being a director is a great way to give back to your community. If you are interested, you should advise the current board in case a vacancy should arise during the year.

Financial planning and your life cycle

The new year is a good time to review personal financial goals. One of the first steps is to determine what stage you are at in your life. A 20-year old university student and a 45-year old working parent are going to have different financial goals, because they are at different stages in their lives.
How can you determine what stage you are at? Take a look at these descriptions:

Early career - You may be completing your education, buying your first house or a new vehicle, and thinking ahead to marriage, family and childcare. Mid-career - You may be focused on your children's education, travel or vacation properties or just re-entering the workforce after taking time to care for young children. Retirement planning may be coming into the picture. Peak accumulation - Your children have begun supporting themselves. You may pay off your mortgage and be saving more. Your concern maybe maximising your RSP contributions and focusing more on recreation and health. Pre-retirement - You may be making some final decisions about your retirement date and launching a hobby career. Your parents may now be dependent on you. Retirement - You are now concentrating on maintaining an enjoyable lifestyle. You may be repositioning your assets to preserve purchasing power or choosing new living arrangements.

The ages at which you pass through each of these periods are very dependent upon your personal situation. Financial trends are also changing and your children will probably be on a different financial path than the one described here.
Credit union staff can help you achieve your goals. Stop in and find out more.

Dauphin Plains Credit Union officials visit a local school in 1940

Looking back at credit unions

Credit unions have worked for millions of Canadians in the 20th century and will continue to be a driving force in the 21st. However, it's important to remember our past as we plan for the future.
The first credit union in Manitoba was a caisse populaire, organized in 1937 by Father Benoit in the French farming community of St. Malo. Its citizens, like most farmers on the continent, were suffering during the Great Depression; Father Benoit brought them together to help each other financially. The first loan to a member - for $56.50, repaid in $2 monthly installments - financed the purchase of a cream separator.
Seven months later in the same year, Norwood Credit Union was founded in Winnipeg. (The oldest existing credit unions in the province are Lowe Farm and The Pool, both founded in 1938.)
Following their example, people throughout Manitoba, drawn together through common ethnic, religious, professional or geographical affiliations, began founding credit unions in ever-increasing numbers. By 1939 there were 19 credit unions in Manitoba, with combined assets of $49,990 and 2,406 members.
Today, there are 67 credit unions in the province extending services to 403,000 Manitobans through a network of 161 branch locations and 120 ATMs. The combined assets of the Manitoba credit union system exceed $5 billion.
Every member of a Manitoba credit union is part of a provincial, national and international network of co-operative and credit union organizations.

Thank you for reading!