SASKATOON CITY EMPLOYEES CREDIT UNION

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Attention:   Mortgage Holders

On July 19, 2010 Saskatoon City Employees Credit Union is converting to a new banking system.  The new banking system will impact the way mortgage payments are applied on certain mortgage loans.

Currently some Credit Union mortgage loans are based on a semi-annual calculation of interest where payments are applied first to principal while interest accrues for six months and at the end of each semi-annual period that accrued interest is added back to the principal balance.  To facilitate the transition to the new banking system following the next compounding date on each of these mortgage loans, payments will be applied first to accrued interest with the balance to principal.  Borrowers whose mortgages will be impacted by this change will be notified by letter and subsequent mortgage loan statements will show payments applied first to interest.  Those statements will provide formal notice as to when the actual application of payments has changed.

 If you have any questions regarding conversion to the new banking system, please feel free to contact the Credit Union

 

  click on the MemberDirect logo to access our Internet Banking site .

MemberDirect is our Credit Unions internet banking system. It allows you to do your banking on-line from your home or office - Anytime!  Contact us for more information or to sign-up today. 

hyperWALLET is an online payment solution ( person-to-person and person-to-business) that enables individuals to transact privately and securely on line with cash transferred directly from a bank account.  Visit www.hyperwallet.com for more information.

 

Tax Free Savings Accounts -  A Fresh Approach to your Savings 
Available Now.  For more information contact our staff or visit 
http://www.cra-arc.gc.ca/gncy/bdgt/2008/txfr-eng.html

 
we are now offering electronic statements to those members who currently have access to MemberDirectâ Internet banking. See our staff for details.
 

Please note that effective May/08 changes have been made to the
Terms & Conditions for Financial Services

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Good News:
You can access, view and pay your bills with epost and online banking!
If you pay your bills online, why not receive and view them there too?
visit www.epost.ca for complete details.
 


  
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Saskatoon City Employees Credit Union
City Hall, 222 3rd Avenue North, Saskatoon, SK  S7K 0J5
phone 306-975-3280  fax 306-975-7806

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Last Updated 03/03/2010

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