Celebrate Credit Union Day with Sandhills Credit Union
Come to the branch for coffee and donuts Thursday, October 18.
Join us as we celebrate International Credit Union Day!
Each year, on the third Thursday of October, credit union employees, directors and members come together to celebrate International Credit Union Day (ICU Day). The day is a chance for those associated with the credit union movement around the world to pause for a moment and recognize the growth and success of financial co-operatives.
This year, ICU Day lands on Thursday, October 18. Credit union members from more than 100 countries will mark the occasion by reflecting on the movement’s history, its achievements and the hard work that went into making credit unions the success they’ve become.
Many reasons to celebrate Credit Union Day in SK
Credit unions are more popular here in Saskatchewan than almost anywhere else in the country.
International Credit Union Day has special meaning here in Saskatchewan, where the credit union movement is more popular than almost anywhere else in the country.
For decades, Saskatchewan has continued to embrace the idea of democratically controlled, member-owned financial cooperatives. As a result, 476,000 Saskatchewanians now call themselves credit union members. Just like you, they’ve seen the value in belonging to a co-operative financial institution where the decisions are made by memberowners right here in our province, not by shareholders whose primary motivation is increasing profits.
Saskatchewan’s 44 credit unions serve their members by providing highly competitive products and services. We also give back to our communities in very tangible ways. Each year, the province’s credit unions show support for our communities through sponsorships, donations, scholarships and volunteering (Saskatchewan credit unions provided $7.3 million in donations, sponsorships and scholarships in 2016).
The employees and directors of your credit union live in your community – they’re your friends and neighbours. Your concerns are their concerns and because you have a vote in the direction of the credit union, you share the same interests.
That spirit of co-operation is part of what makes being a credit union member so special, and one of the many reasons Saskatchewan take time to celebrate ICU Day.
2018 marks 70th anniversary of Credit Union Day
Credit Union Day dates back to 1948. This year we celebrate ICU Day’s 70th anniversary!
Thursday, October 18, 2018 will mark the 70th anniversary of International Credit Union Day. Back in 1948, the U.S. Credit Union National Association (CUNA) decided it was important to acknowledge the contributions of the credit union movement and opted to designate the third Thursday each October as Credit Union Day.
Throughout the 1950s and 60s, the credit union movement expanded to more and more countries and in 1971, the World Council of Credit Unions Inc. (WOCCU) was formed to help guide the development of credit unions around the world. WOCCU began to promote the idea of Credit Union Day at the international level and the celebration eventually grew to become a global event.
Interestingly, the idea of a special day to honour the credit union movement actually predates 1948 by more than two decades. In January 1927, the Credit Union League of Massachusetts celebrated the first official holiday for credit union members and workers. The league selected January 17 because it was Benjamin Franklin’s birthday. They felt Franklin symbolized “the life and teaching embodied in the spirit and purpose of credit unions.”
The day failed to catch on and soon faded into obscurity. It wouldn’t be until after World War II that ICU Day truly became an annual event. Today, upwards of 200 million credit union members from around the world celebrate the day with open houses, picnics, fairs, festivals and parades.
Scholarships awarded to Leader Composite School students
This year Sandhills Credit Union awarded two $1,500 scholarships to Leader Composite School students beginning post-secondary education. This award seeks to recognize the commitment of young adults and emphasize the importance of supporting their contributions to our community. This scholarship is not a prize for benchmark achievement; it is an investment in the development of an exceptional individual who is intent on pursuing a long, productive career – someone whose future accomplishments will benefit their community.
We’ll be closed for the following holidays:
Monday, October 8 – Thanksgiving Day
Monday, November 12 – Remembrance Day
American Express travelers’ cheques no longer issued in Canada
American Express has decided to stop supplying travelers’ cheques for sale in Canada. As of August 31 we will no longer be authorized to sell American Express travellers cheques at any location in Canada. Although we can no longer sell them, we can still accept and redeem them.
Many Canadians say they’re struggling with their finances. If you’re one of them, we can help.
Struggling to save money? Getting behind on your bills? Missing payments? We can help. Talk to the credit union today. We have a wealth of great products and services available to you.
Halloween is just around the corner and with it will come all the frights and scares of neighbourhoods filled with little ghosts and ghouls.
Unfortunately, many Canadians are facing a reality that’s much more frightening than the harmless fun of Halloween. Financial worries are the real monsters lurking in the shadows for a growing number of people in this country.
According to a recent Angus Reid Institute study, a quarter of all Canadians say they face serious financial hardship. The study found that one in four people surveyed report they’ve had to borrow money to buy groceries. One in five (21 %) said they can’t afford dental care.
The study asked respondents about 12 financially difficult situations, such as whether they’ve had to use a food bank or missed a bill payment. The respondents were then grouped into four categories, one of which was labeled “struggling” (those who have experienced at least four of the 12 situations). Roughly 16% of Canadians fell into the “struggling” group.
If you’re struggling with your finances, help is available. Don’t hesitate to contact us. We have a wide range of products and services available to help you manage your money, maximize your savings and reduce the cost of your debt. Give us a call today – we’d be happy to help.
Four important financial lessons to tackle as young people head back to school
It’s never too early to start teaching your kids about money. Financial literacy is just as important as reading, writing and arithmetic.
As summer draws to a close and young people start to head back to school, now is a good time to consider some important financial lessons for kids and parents alike.
- Start saving early – It’s never too early to get a jump on saving, no matter what your age. Whether it’s candy, a special toy or a new video game, teach your kids the value of delayed gratification by encouraging them to save for the things they want.
- Teach them about budgeting– Budgeting is a skill many adults struggle with, so the sooner kids can learn how to manage expenses, the better. Give your kids an allowance and explain to them that once they’ve spent it, it’s gone until next month. Show them how they can stretch their dollar to last all month.
- Consider opening an RESP – A Registered Education Savings Plan (RESP) is a great way to save for a child’s post-secondary education. With an RESP, a parent (or grandparent, spouse or common law partner) makes contributions to the plan. Those contributions are not taxable, so long as the money stays in the RESP. When it comes time for the beneficiary of the plan to begin their post-secondary education, the accumulated funds can then be used to help finance their schooling.
- Model the right behaviour – Kids learn by watching, so demonstrate the right financial behaviours for them. Encourage saving, show them the family budget and avoid those impulse purchases.
Watch out for faked sender email addresses
Fraudsters can easily fake the “friendly name” in the sender’s email address. For example, an email can appear to be from “PayPal Services,” but actually be from email@example.com. Some email clients make it hard to see the real name. But if you mouse over the friendly name or click “Reply,” you should be able to see the full email address of the sender.
Sophisticated fraudsters can fake the entire name to look like a legitimate sender, so be careful. Though verifying a correct sender address is important, it’s not enough. It’s important to look at the entire email. When you check your account, always enter “www.PayPal.com” into your browser instead of clicking a link in an email.
How to identify real PayPal emails
An email from PayPal will:
- Come from paypal.com. Scammers can easily fake the “friendly name,” but it’s more difficult to fake the full name. A sender like “PayPal Service (zxk1942R3@gmail.com)” is not a message from PayPal. But sophisticated scammers can sometimes fake the full name, so look for other clues.
- Address you by your first and last names, or your business name.
An email from PayPal won’t:
- Ask you for sensitive information like your password, bank account or credit card.
- Contain any attachments or ask you to download or install any software.
Bogus links in emails
If there’s a link in an email, always check it before you click. A link could look perfectly safe like www.paypal.com/SpecialOffers, but if you move your mouse over the link you’ll see the true destination. If you aren’t certain, don’t click on the link. Just visiting a bad website could infect your machine.
If you do click a link in an email, be sure to review the URL of the site where you land. It’s easy for bad guys to copy the look of a legitimate website, so you need to check that you’re on the correct website.
Automatic debit and credit reminder
The banking world can be summed up in one word, automatic. Payroll, utility bills, payments can be directly credited or debited to an account. When you give your account information, please remember to use all 12 digits. This ensures your information is processed correctly. If the account information is incorrect, credits and debits will be returned. If you’re unsure of your full account number, please call the branch or come in and we’ll give you a form with the correct information on it.