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Wednesday, February 24 is Pink Shirt Day -  Anti-Bullying Day -  when people wear mainly a pink shirt to symbolise a stand against bullying.  Did you know:

  • Two out of three youth have faced bullying over their cell phones or online. 

  • Three out of ten bullied students reported missing school at least once.

  • Three out of five LGBTQ+ students feel unsafe at school.  

  • Every seven minutes someone is bullied on a playground in Canada.


A recent survey also found cyberbullying surpassed drugs and alcohol as the top concern among Canadian parents.  Bullying affects us physically, emotionally and mentally and is a major problem in our schools, workplaces, homes, and online. Bullying comes in many forms, including but not limited to verbal attacks, physical violence, threats and intimidation.


This years’ Pink Shirt Day theme is, “lift each other up”.  The focus is on working together and treating others with dignity and respect. The pandemic has affected us all and shown the importance of helping one another and advocating for those who need it.


Chances are that you or someone you know is being impacted.  How we respond to bullying as a victim or witness is important. Over 90% of bullying incidents have peer witnesses. But when those peers intervene, most incidents are quickly resolved.  


Remember that kindness and compassion can go a long way.  It is important to support healthy self esteem and teach empathy, compassion and kindness. There are many resources available for parents, caregivers and our youth.  Visit the Pink Shirt Day website for more information.  Make every day an anti-bullying day!


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At CCEC, RSP loans are available until February 23, 2021!  The deadline to contribute to an RRSP for the 2020 tax year is March 1, 2021. 

We know that we are in unprecedented times and finances may be tight this year. Saving for your future may not be top of mind. However, even contributing a small amount to your RRSP today will go a long way in the future.  It’s not just about long-term growth but also benefits, like lowering this year’s taxes.  More important, your funds at CCEC are invested in your community, your neighbours and local businesses.

Are RRSPs worth it in the long run? Even though you have to pay the tax back when you withdraw the funds, yes, they are worth it. They are a valuable tool to reduce your tax burden and save for the future. We encourage our members to include an RRSP as an investment option in your financial plan. And, be sure to review your plan each year.  


If you would like to contribute, ask us about an RRSP loan so that you can maximize or top-up your RRSP contribution. Consider starting a monthly contribution plan, you can earn compound interest making more than if you contribute a lump sum. 

Call us today and ask how you can contribute to, top up or start an RRSP. Be sure to also ask about our other investment options including TFSA’s.


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Pride in Art Society and DOXA Documentary Film Festival were each awarded the Roger Inman Memorial Award for 2021.  The Trustees felt that both member organizations were most deserving of the recognition and awarded $1,000 to each of them.  The announcement of the 2021 award recipients was at the Virtual AGM by Trustee and new Board Member, Gerry Dragomir.  

On learning of the award, DOXA said,  "We are honoured to accept the Roger Inman Memorial Award, alongside the Pride in Art Society (who do outstanding, necessary work). We feel very proud to join the ranks of amazing organizations from award years past, and look forward to continually supporting the values of cooperation, curiosity, and critical media engagement." 

The Pride in Art Society said, “We are honoured to be awarded the Roger Inman Memorial Award. Our wholehearted thanks to the trustees for this recognition in Roger Inman’s memory, and to CCEC for its dedication to keeping money and resources working in our community by supporting and promoting the development of organizations like ours.” 

The annual award honours the memory of Roger Inman who became a member when CCEC first opened in 1976.  Shortly after joining, he began serving as a volunteer teller, a member of the credit committee, and later joined the Board of Directors. He contributed to many community initiatives and was active in politics. Through this award we acknowledge his devotion to community economic development, his commitment to his ideals and his generosity in spirit. Congratulations to both CCEC Member organizations selected to co-share the award recognition.  Click here to learn more. 

About the 2021 Award Recipients

DOXA is presented by the Documentary Media Society, a Vancouver-based non-profit charitable society (incorporated in 1998). They are devoted to presenting independent and innovative documentaries to Vancouver audiences (and, as of recently, beyond). The Society exists to educate the public about documentary film as an art form. The 20th annual festival is May 6-12, 2021.

The Pride in Art Society (PiA) produces, presents and exhibits art with a curatorial vision favouring challenging, thought-provoking contemporary art work that pushes boundaries and initiates dialogue. Our annual Queer Arts Festival (QAF) is a professional, artist-run, multidisciplinary festival and our year-round SUM gallery is Canada’s only queer-mandated art gallery.


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“Pandemic restrictions have accelerated the shift from paper to digital payments”, reports Central1 who process our Interac e-Transfers®. There are many benefits to transferring funds electronically, but are they safe and is your money secure? Yes! 

When you send money using Interac e-Transfer®, your money doesn’t actually travel by email or text message – just the notifications and deposit instructions. The receiving and sending bank or credit union transfer the funds to each other using established and secure banking procedures. At CCEC, our security measures include:

  • Encryption technology
  • Confidential user IDs and passwords
  • Secure login process
  • Security question and answer

While these security measures are in place, when you use the service please follow these safety tips:

  • Sign up for Auto Deposit. Also, encourage your recipient to sign up for Auto Deposit.
  • Action the e-Transfer the moment you receive it. Also, encourage your recipient to action the e-Transfer as soon as it is received.
  • If you created a security question, do not email the answer or put it in the message of the e-Transfer. 
  • Do not open any e-Transfer Requests that you do not recognize. 
  • Be very aware of online scams and requests for money. Refer to these security tips 

Click here to learn more and visit the Interac website. 

If you have any questions, refer to the FAQ on our website

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A Tax-Free Savings Account (TFSA) is designed to help you save for your short and long-term goals. This is different from an  RRSP that is considered a longer-term strategy to save for retirement.  A TFSA may be a good option for you to consider if you have shorter-term goals where you want to access and more easily withdraw funds.

TFSA contributions are not tax deductible as they are with an RRSP.  However, the contributions and the gains made can be withdrawn tax-free at any time.  They are flexible in that you are allowed to ‘refill’ your account with no penalty.  For example, If you do make a withdrawal, that amount of room is added back the following year.  As the amount you can contribute is adjusted annually, you can top up from unused room you have carried forward and the value of the withdrawals.

At CCEC, we are pleased to offer this new savings option to our members. It is considered a retirement savings option by  CRA and has terms and conditions.  We ask our members to contact or look at your MY CRA account to find out how much room you have available. In addition to the rules governed by CRA, at CCEC we’ve also set a minimum contribution at $500. 

Contact us to learn more and to open a TFSA account.  We can review your needs and suggest what might work best for you from the range of investment strategies we are now able to offer. 

For more information visit the CRA website 

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We recognize times may be uncertain and finances may be tight this year. Saving for your future may not be top of mind. However, even contributing a small amount to your RRSP today will go a long way in the future.  It’s not just about long-term growth but also benefits, like lowering this year’s taxes.  More important, your funds at CCEC are invested in your community, neighbours and local businesses.  

Our members tell us that they are with CCEC because we are aligned with their values.  As we are hosting the second Virtual Town Hall on Saturday, January 16th at 10:30am, a member wrote to us saying, “CCEC fills a niche that no other credit union does: a people-centred perspective that sees everyone as an equal no matter their heritage, income, or orientation.” We continue to  be an independent single branch credit union in a financial industry that has been undergoing consolidation for many years. The member reminds us of our history and says, “Where else can BIPOC and employment-challenged communities go for vehicle loans? Where else can social enterprises go that aligns with their values-based mission statements? Where else could a WomenFutures Loan Guarantee Fund exist?” 

The member adds, “There is part of CCEC's original mission that is based on E. F. Schumacher's "Small Is Beautiful" (1973). There is something to staying small on purpose! CCEC has always been about ensuring its acronym stays true: Community, Congress and Economic Change. This is why CCEC exists. “

So, as we are encouraging our members to invest in an RRSP, remember that the funds in your RRSP at CCEC stays in your community and support what is important to you. 

Call us today and ask how you can contribute to, top up or start an RRSP. 

Email Joanne to RSVP for the Virtual Town Hall on Saturday and add your voice to the conversation on the future of CCEC. 


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Saturday, January 16th at 10:30am  is our second virtual Town Hall meeting. We want to hear from our members your thoughts about CCEC’s future and the upcoming Annual General Meeting (AGM).

 

At our AGM on February 4, 2021, we will be reporting healthy earnings in the year ending September 2020.  However, our long term financial planning indicates we will face challenges  The credit union sector is facing enormous pressure with ever increasing regulatory requirements, rising costs and low margins resulting from historically low interest rates. Across the province, over 25% of credit unions are currently considering a merger or acquisition. We want to share with you the informal conversations we have had with other credit union boards on their challenges and opportunities. 

 

Please RSVP to Joanne to attend the Town Hall and the AGM.  Join the conversation, hear what other members have to say and have your voice heard.  A zoom link will be sent closer to the date. 

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