WINNIPEG, MANITOBA – The Board of Directors of Crosstown Civic Credit Union (CCCU), at this year’s Annual General Meeting, announced a return of $3.07 million was paid to its members in the form of surplus shares. This amount represents 2.75% in patronage allocations, an amount based on a member’s loan interest paid and eligible deposit interest received for all qualifying accounts, and 3.00% returns based on existing surplus shares owned by the member. The Board also announced a 20% cash redemption of existing surplus shares, which totaled $3 million.
“We are proud to be in a position where we are able to pay Member Rewards for the twenty-seventh consecutive year, in an increasingly competitive marketplace,” shared Ingrid Loewen, Board Chair. “This speaks to the passion, hard work and commitment of our employees, and it reflects the trust and loyalty our members have in us.”
This year’s allocations increase the total amount returned to members to over $64 million since the inception of the Member Rewards Program in 1992. More than $41 million of that value was paid out in cash.
“Our Member Rewards Program is a way to say thank you to our members, and demonstrates the additional value they receive by banking with Crosstown Civic Credit Union.” said CCCU CEO, Mona Forsen.
The Member Rewards Program is the credit union’s way to show appreciation to its members for their continued relationships and patronage. Because CCCU is a cooperative, members are true owners of the organization, and are eligible to share in the annual profits. The amount received by each member is based on the amount and type of products they have with CCCU – the more business with CCCU, i.e. borrowing and saving, the bigger the reward.
About Crosstown Civic Credit Union: Crosstown Civic Credit Union is a Winnipeg-based financial institution that provides competitive products, services and advice to help members achieve their financial goals. Established in 1943, CCCU is the fourth-largest credit union in Manitoba today, with more than 30,000 members, $2.4 billion in managed assets, and services delivered through a network of nine Winnipeg branches and a Commercial Department. More information is available at crosstowncivic.mb.ca.
Part of the MB Cooperative Youth Program, the Co-op Youth Leadership Retreat fosters leadership skills and encourages youth involvement in cooperatives. The event features hands-on workshops and fun activities through which youth explore challenges we face in the world today to help find solutions that start within our own schools and communities.
This year, Crosstown Civic will be sponsoring one of our Youth Edge members to attend. Sponsorship covers lodging, meals and retreat expenses. Participants are responsible for transportation to the retreat.
Deadline to Apply
April 19, 2019
Date: May 2 – 5, 2019
Place: Riding Mountain Conference Centre in Clear Lake
In the spirit of February’s “I Love to Read Month,” Crosstown Civic Credit Union team members spread the value of early saving habits to school-aged kids this month through storytelling events at schools, and in branches.
Aida Pamplona, Financial Services Officer at our 1450 McPhillips Street branch, read to a group of third grade classes at École Lansdowne on February 7. Lewis Penner, Regional Branch Manager for our city centre branches, fielded insightful questions from first and second grade students at St. Alphonsus School on February 21. To wrap up our city school tour, Vicki Panagiotou, Branch Manager of our 3161 Portage Avenue branch, read to a financially savvy third grade class at École Laura Secord School on February 28.
Also on February 21, popular Disney and Nickelodeon characters read at the 3161 Portage Avenue and 1450 McPhillips Street branches for preschool audiences. Check out photos from these events on our Crosstown Civic Credit Union Facebook page.
“More than ever, financial literacy needs to be recognized as an important life skill,” says Mona Forsen, CEO at Crosstown Civic. “It’s essential we teach our children about money so they can grow up to be financially savvy and secure adults.” With this in mind, we have lots of great promotions planned in 2019 dedicated to our youth members. For example, from now until March 31, new youth account members have the opportunity to earn passes to the Manitoba Children’s Museum or Arena VR when they open their accounts PLUS we’ll match the first deposit to a maximum of $50! Come visit us!
Crosstown Civic Credit Union is pleased to announce a partnership promotion with Intuit TurboTax for tax year 2018. Until May 1st, 2019, CCCU members can take advantage of a 20% discount on TurboTax online.
TurboTax is online software that makes filing your taxes easy. TurboTax guides you step-by-step through your taxes, getting to know you so you can find every tax deduction you deserve, double-check your return and file you taxes directly to Canada Revenue Agency.
You will need several documents to begin your tax return. Here are the most common:
Simply click the TurboTax banner below, on our homepage or on your online banking accounts summary page. You will be redirected to TurboTax’s website, where you can select the product package to suit your needs.
Our younger members and their caregivers are invited to join us Thursday, February 21 from 3:30 to 4:30PM at the 3161 Portage or 1450 McPhillips branches for a visit from popular Disney and Nickelodeon guests. Our guests will be reading a book to us while we enjoy some light snacks.
Please join us! We’d love to see you!
No purchase or registration necessary.