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News Categories: Finance

Education / Finance /  • July 14, 2017
Seniors Racking up Debt

Canadian seniors are borrowing more and requiring credit counselling to deal with it. Equifax reported this past May that the debt held by those age 65 and up averaged $15,244 in the fourth quarter of 2016. This is lower than the Can...

Finance / Human Interest /  • July 10, 2017
The kindness of strangers

As early 20th-century American entertainer Will Rogers once said, “A stranger is just a friend I haven’t met yet.”  In today’s immoderately priced mortgage market, this pithy saying may well become the descriptor of the futu...

Finance /  • March 30, 2017
Changes to CPP will enhance income security in retirement

For Canada’s baby boomers — the biggest demographic wave in our nation’s history — the light at the end of the retirement tunnel is becoming ever so bright. (Some, of course, are already basking in the glow.) This massive bubble of ...

Banking / Finance /  • March 7, 2017
Mortgage fraud on the rise

Equifax is reporting that mortgage fraud is on the rise in Canada — especially in Ontario and British Columbia — due in large part to rising home prices. The agency, which maintains credit reports on consumers and businesses, states ...

Education / Finance /  • January 24, 2017
One for the money

Last November was Financial Literacy Month and Canadian credit unions celebrated with the national launch of Each One, Teach One. Created by Vancouver City Savings Credit Union (510,000 members, $20.9 billion in assets) in 2008, Each One, Teach One i...

Finance / Risk Management /  • January 13, 2017
Early 1990s see bank rates plummet

In 1992, the mortgage landscape was undergoing rapid change. With a nearly seven-percent drop in the bank rate over a two-year period, it was prescient of things to come. [March/April 1992] Interest rates have been steadily d...

Banking / Finance /  • July 14, 2016
New debit cards for the Emerald Isle
Emerald Isle issues debit cards

Eleven credit unions in Ireland have teamed up to form a not-for-profit organization, DCG Card Services, to manage a new product demanded by 84 per cent of its members: debit cards. Although debit cards aren’t exactly new, DCG Card Services was for...

Finance / Risk Management /  • June 13, 2016
The “invisible” crime
Credit unions can play a role to help prevent elder financial abuse

It’s sometimes referred to as the “invisible” crime. It is often unreported, and committed by people known and close to the victim. June 15 is World Elder Abuse Awareness Day. The United Nations estimates that worldwide, up to six per cent ...

Business / Finance /  • May 13, 2016
Northern Credit Union boosts small biz

Small businesses in Northern Ontario can now apply for an unsecured business line of credit of up to $250,000 — without stepping into a branch. In February, Northern Credit Union launched the mobile-friendly online account opening tool for Ontario-...

Finance / Sustainability /  • March 9, 2016
Alterna & Central 1 honour social responsibility
2016 Gary Gillam Award nominations now being accepted

On April 29th, Alterna Savings and Central 1 will present the 2016 Gary Gillam Award to up to two deserving members of the community.

Finance / Risk Management /  • March 1, 2016
Time Machine: Mortgage fraud in 1999
Mortgage fraud doubles

Fax machines, photocopiers and white-out are a handful of the “tools” used by people to commit mortgage fraud.

Banking / Finance /  • July 1, 2015
Time machine: Enterprise July 2001
Bill C-8 on financial sector reform gets royal assent

Reduced red tape opening the doors for credit unions to set up a national structure.

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