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JANUARY2006 White Rock/South Surrey Chamber of Commerce Business Excellence Awards
JANUARY 26, 2006
MARCH & APRIL2006Surrey Delta Immigrant Services Society Cultural Diversity Awards for Business
MARCH 22, 2006
Port Moody Festival of the Arts Events will be held at the Port Moody Arts Centre 2425 St Johns Street, and throughout Port Moody
MARCH 31 - APRIL 9, 2006
MAY2006Ridge Meadows Home Show Planet Ice 22751 Haney By-Pass, Maple Ridge
MAY 5 - 7, 2006
New Westminster Heritage Homes TourA tour of homes throughout the New Westminster community
MAY 2006
Spirit of Community Awards Hosted by the Society for Community Development in Coquitlam
FALL 2006
Upcoming community events
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345
printed on 100% recycled post consumer paper
You are invited to attend the Westminster Savings
Credit Union Annual General Meeting on Wednesday,
April 26th, 2006 at the Douglas College Performing
Arts Theatre, 700 Royal Avenue, New Westminster.
Registration begins at 7:00 p.m. and the meeting will
be called to order at 7:30 p.m. For more information
call 604 517-0100.
Annual General Meeting official notice
MEMBER SERVICE CENTRE HOURS Monday to Friday 8:00 - 8:00 | Saturday 9:00 - 4:00
BRANCH HOURS Monday - Thursday 9:30 - 5:00Friday 9:30 - 6:00 | Saturday 9:30 -3:00
Branch locations and hours
All branches and administrative offices will be closed
on the following days in 2006:
JAN 2
1417
2022
13
57
APR
MAY
JUL
AUG
SEP 24
79
1113
2526
1
OCT
NOV
DECJAN
Labour Day, Saturday
Monday
Thanksgiving Day, Saturday
Monday
Remembrance Day, Saturday
Monday
Christmas, Monday
Tuesday
New Year’s Day, Monday
New Year’s Day, Monday
Easter, Friday
Monday (All branches will be open on Saturday, April 15th)
Victoria Day, Saturday
Monday
Canada Day, Saturday
Monday
B.C. Day, Saturday
Monday
2006 branch holiday closures
Member Service Centre
604 517-0100 or 1 877 506-0100 outside the Lower Mainland
www.wscu.com
We’re preparing to launch our new and exciting
youth program. The focus of this initiative is to help
young people become more financially and socially
responsible, goals that are closely aligned with our
corporate values. We have teamed up with PowerPlay
Strategies Inc. (PPS), specialists in creating engaging
educational programs for youth.
Building on the success of our awards program, we
have decided to call the new initiative “Youth in Action”.
In addition to offering our annual awards of $18,000
to local youth, the expanded program will allow us to
recognize the achievements of youth in a variety of
other ways as well.
Twice a year, Junior Members will receive a Youth
in Action newsletter. It will include information about
money management for young people, as well as
challenges to take part in. We’ll have lots of prizes, such
as a $500 RESP, so watch your mail for more information.
We are also launching a school-based program
whereby schools will be invited to participate in
Introducing our new youth program
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Westminster Savings Credit Union is committed to
helping the communities in which we live and work.
To date, the credit union has contributed over
$2 million dollars back into our communities through
sponsorships, donations, scholarships, and volunteer
efforts. In addition, the Westminster Savings
Foundation continues to grow, funding projects and
events for numerous non-profit groups. Throughout
the year, Westminster Savings Credit Union is involved
with many community events – here’s just a few that
we are supporting in 2006:
Belong
CLOVERDALE COMMUNITY BRANCH18722 Fraser Highway (Opening 2006)
LANGLEY COMMUNITY BRANCH 20831 Fraser Highway (Opening 2006)
AUSTIN COMMUNITY BRANCH1101 Austin Avenue
SUNWOOD SQUARE BRANCH3025 Lougheed Highway
SHAUGHNESSY STATION BRANCH2850 Shaughnessy Street
NEW WESTMINSTER COMMUNITY BRANCH601 Sixth Street
NEWTON COMMUNITY BRANCH7488 King George Highway (Closed on Mondays)
WHITE ROCK COMMUNITY BRANCH 1608 152nd Street (Closed on Saturdays)
MAPLE RIDGE COMMUNITY BRANCH22565 Lougheed Highway
LANDMARK BRANCH20201 Lougheed Highway
COMMERCIAL SERVICES WS LEASING LTD.604 528-3803 604 528-3802
What is Spyware?
Spyware is software that appears as an advertisement, collects personal information or changes the configuration of your computer, without obtaining your consent.
What are some of the indications that my computer is infected with Spyware? • You see pop-up advertisements, • Your computer is slower than usual
even when not on the Internet • Your computer crashes more frequently • A new toolbar is added to your browser • Your Internet homepage changes by itself
and you cannot get rid of it
How do I prevent Spyware from infecting my computer? • Make sure your software is updated on a regular basis. This will ensure that you have the
latest security updates on your computer. • Adjust your Internet Explorer security settings to medium or higher. This determines how
much information you are willing to accept from a web site. • Use or install a firewall to help defend against hackers. • Be vigilant when downloading from the Internet. Make sure you read all security warnings. • Install anti-spyware software.
How do I get rid of Spyware? • Download a Spyware removal tool and use it to scan your computer for spyware and other
unwanted software. • Review the files that the tool detects as spyware, and remove them from your computer.
For more information and tips for dealing with Spyware, visit www.microsoft.com. For more information about any of these events,
please contact Nicole Eich, Community Relations and
Event Coordinator, at 604 517-0100.
New look
As you’ve noticed, your newsletter has received a
facelift and taken on a whole new look.
Based on your feedback from a series of surveys
and focus groups, we are launching a newly formatted
newsletter. You told us that you want a newsletter that
provides expert opinions, tips and the latest news.
The new format has a better layout, is easier to read
and has a much more contemporary look.
The newsletter will be published four times per year
and is your source for Business, Wealth Management,
Product and Community related information.
We hope you enjoy the revamped newsletter
and please feel free to send your feedback to
Harman Phangui (left), Karen Somar (centre) and Caelen James (right) display their money management systems.
separate classroom challenges, relating to financial
and social responsibility.
In late 2005, we conducted a pilot program at the
Roots and Wings Montessori School in Surrey. The
program was a success, and feedback from the
students was fantastic. When asked why the program
is beneficial to young people, student Caelen James
reported, “It’s important to grow your money. By
investing you’ll have lots of money when you grow up.”
If you are not a Junior Member, but would like to
receive the Youth in Action newsletter, please call
Don Liebich, Manager, Product Development, at
604 517-0100.
wealth managementinvestment accounts
communityyouth in action scholarshipsMt. Kilimanjarosponsorship
business servicesbusiness internet express
news and eventscommunity events
products and servicesyouth in actionbranch locations
JAN UARY 2006V O L U M E 3 0 I S S U E 1
1397 proof #3client: WSCUproj: Money Matters Winter 05date: Dec 5/05
trim: 20.125 x 10.5”quantity: 58,000 Approved:
CYANYELLOW
MAGENTABLACK
C OV E RB A C K C OV E RF O L D S I N S I D E
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There are many different options available, depending on your stage in life. If you’re young and just starting out, consider the Pay Day Plan. This RRSP enables you to make small, regularly scheduled deposits to your RRSP and convert the savings into a registered term deposit once sufficient funds have been accumulated. “Although we may at times be struggling with current expenses, my husband and I realize the importance of investing in our future while we’re still young,” says Jennifer, a Westminster Savings Credit Union member. “We want to contribute to our RRSPs whenever we can – even if it’s only fifty dollars per month… every little bit counts and we
won’t be scrambling when we’re closing in on our retirement.” If you’re close to retirement, but want to make the most out of your savings, think about our new Super Climber RRSP. This product has a five year term with rate increases over the course of the term. This non-redeemable product would be a great investment if you’re looking to increase your investment over a period of five years. These are a couple of the products that we can offer you, there are many more. Don’t forget, the RRSP contribution deadline for 2005 is March 1, 2006. Drop by your branch and learn more about what RRSP options are available before it’s too late.
At Westminster Savings Credit Union we provide
results, not a run around; success, not stress;
answers, not apologies; loans, not lip service.
It’s important to plan for the future and set aside
money so that you will have the retirement that you
desire. But, deciding where to invest your money can
be confusing. Should you put it into a non-registered
account or into an RRSP? Let us help you figure
that out.
The advantages of investing in RRSPs:
• Tax is deferred until the funds are withdrawn.• When the funds are withdrawn, they are treated as
income and you are taxed at the marginal tax rate at
the time of withdrawal.• You receive a tax deduction. For example, if you
invest $15,000 into your RRSP this year, you could
be eligible for a tax savings of as much as $6,975,
assuming the highest marginal tax rate. • The tax savings from your RRSP contribution can be
invested into a non-registered account or used to pay
down your mortgage or other debt.
The advantages of investing in a non-registered investment account:• Capital Gain income is deferred until the investment
is sold. No tax is payable until the investment is sold.• Any profits earned will result in capital gains. Capital
Gains are only taxable on 50% of the gain.
Business Express Internet
Introducing Westminster Savings Credit Union’s new online business banking solution – Business Express Internet. This is an online banking tool designed specifically for businesses to better manage day-to-day banking needs. Business Express Internet allows you to access complete information about your business banking account at anytime. By signing up for this service, you can take advantage of many features, including:
• Setting transaction limits • Allowing multiple user access with individual
limits and permissions • Online bill payments • Electronic Funds Transfer • Account information and transaction activity • Audit trail
“With the ability to view multiple business memberships with one sign-in, customize access and permission levels for multiple employees, and the ability to pay bills, transfer funds and file government remittances, our business members really appreciate the convenience, flexibility and security that Business Express Internet provides,” says Lou Simonetti, Cash
Management Officer, Westminster Savings Credit Union. “This service will provide you with the tools necessary to improve your business processes. It will also assist in your daily decisions by offering a convenient and timely method to access real-time banking information.” If you have a business account and would like to access your account online, call our Member Service Centre at 604 517-0100 and one of our representatives will sign you up.
4
Life Happens…It’s time to get ready
3
Just once wouldn’t you like to sit with someone
who is as good at their job as you are at yours? If you
want to meet that “certain someone” come into your
branch and speak with one of our Financial Planners.
They have the knowledge and access to resources
to provide you with advice on the best options for
your unique situation. If you listen closely, you can hear
the future call.
Mt. Kilimanjaro Sponsorship
Simple and affordable payroll solutions – it’s easier than you think
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
0
RRSP
RRSP refund
Non-registered account
$795,466
$484,849
$295,442
$187,052
$482,494$415,672
$1,077,442
$2,474,719
$2,988,603
$1,280,315
$1,113,623
$1,874,979
15 years 25 years 35 years
Reinvesting tax refunds into a non-registered account
This chart shows the after-tax values in 15, 25 or 35 years between the two options. It assumes a $15,500 annual contribution; 8% annual market appreciation; 45% marginal tax rate (MTR) during contribution and 35% MTR upon redemption.
Reinvesting tax refunds into a non-registered account
While you’re young enough to read this...
Doyouhavebigplansforretirement?Wouldn’tyouliketoretireandknowthatyouwillhaveenoughmoneytolivecomfortablyinyourgoldenyears?Ifyou’renotsaving
forthefuture,it’stimetostopprocrastinatingandtakeaction.
We’d like to recognize the achievements of
outstanding young people who have contributed to
improving their community. The Youth in Action
Awards are open to graduating high school students
who are intending to pursue post-secondary education
on a full-time basis. Westminster Savings offers nine
awards of $2,000 each to students attending schools
in New Westminster, Ridge Meadows, Surrey &
White Rock, TriCities, and Langley. Credit Union
members attending school outside these areas are
also eligible to apply.
“Volunteer work is immensely important for young
people to become involved in”, says 2005 award
recipient June Lam. “It’s important to give back
to the communities which have given us many
opportunities, and volunteering offers something that
cannot be learned or gained anywhere else.”
Past award recipients have been dedicated to their
communities and volunteer with hospital visitation
programs, literacy programs, food banks, and ecology
groups, to name a few.
“We’re pleased to be able to offer scholarships to
deserving students, not only for their academic
achievements, but also in recognition of the great
work that they are doing in their communities. It’s
amazing each year to see the range of volunteer
work that is being done by these youth,” says Nicole
Eich, Community Relations and Event Coordinator,
Westminster Savings Credit Union.
The deadline for submissions is April 3, 2006,
and winners will be announced at their respective
graduating ceremonies. Further information and
application forms will be available by mid-January at
all Westminster Savings Credit Union branches, local
high schools and online at www.wscu.com.
In February 2006, twenty people with developmental
disabilities along with their support climbers will climb
Mt. Kilimanjaro. Their goal is to promote inclusion and
profile community living. Westminster Savings Credit
Union is a proud sponsor of the Climb for Community
Living – Mt. Kilimanjaro 2006, a joint initiative of the
BC Association for Community Living (BCACL) and
sixteen partnering member associations from across
the province. The Credit Union has helped to partially
sponsor three of the climbers who are from the
New Westminster, White Rock and TriCities areas.
“We are delighted to receive support from
Westminster Savings,” says Laney Bryenton,
Executive Director of BCACL. “Such sponsorships will
help BCACL to ensure that children, youth and adults
with development disabilities can take their rightful
place in schools and workplaces, and can participate
as full citizens in our communities. The opportunity
to participate in this expedition has been a life-altering
experience for our climbers. They are learning the art
of fundraising, public-speaking and team building as
they work together to achieve this dream, while taking
a leadership role in promoting inclusion in their
communities.”
For more information, please visit www.bcacl.org
or call 604 875-1119.
Youth in Action Awards: Scholarships for Outstanding, Community-Minded Students
I N S I D E F R O N T C OV E R I N S I D E C E N T R E I N S I D E F O L D S I N
To give our business customers access to an even wider array of innovative solutions, Westminster Savings Credit Union has partnered with ADP,
Canada’s leading provider of outsourced business administrative solutions, to help companies of all sizes efficiently manage their payroll requirements.
Services include payroll, human resources management, time and labour management, occupational health and safety, comprehensive outsourcing and consulting services.
For more information and to get in touch with an ADP Canada sales associate, call our Member Service Centre at 604 517-0100, or drop by your branch for more details.
Efficiently manage payroll requirements for companies of all sizes.