Your Credit Union....Shelter from the Financial Storm
Transcripción
Your Credit Union....Shelter from the Financial Storm
member profiles Emma Sutherland of Active Outreach, coordinates & consults two programs: Red Fox Program & Active Adventure Passport Emma Sutherland, member of CCEC Credit Union for 12 years, made the leap from employee to self-employed consultant two and a half years ago, with the support of CCEC. The road to self-employment was a bumpy one, and CCEC provided Emma with flexible options so that her business could get established. The following articles are on the Active Adventure Passport Program and the Red Fox Program. A life skills training component has been added to the Red Fox Program. CCEC will support this new component of Red Fox by providing a financial literacy workshop for the youth Red Fox Leaders. Visit: www.vancouver.ca/parks/activecommunity/ passport.htm or contact Emma Sutherland, [email protected] or 604.319.2571. Active Outreach designs and delivers leadership training and special events to increase the activity and capacity levels of children, youth and families who face financial and social barriers, with special outreach to the Aboriginal community. The philosophy of Active Outreach is that giving vulnerable communities the skills and opportunities to be active, and having fun and learning together, strengthens communities. Active Outreach is part of the Active Communities initiative to get all Vancouver’s Inner-City Program is Waking up the Neighbourhood: The Red Fox Program This member profile was adapted from the winter 2007/08 issue of Communities in Action for a Healthy BC, originated by British Columbia Recreation and Parks Association with funding from ActNow BC and in partnership with 2010 Legacies Now as a component of the Active Communities Initiative. A cartoon red fox is inspiring Aboriginal children and parents in Vancouver’s inner-city neighbourhoods to get moving and have fun while doing it. Red Fox reaches out to inner-city First Nations families to show them easy, fun ways to get active together. It also provides leadership training to parents and youth in the community. “In many First Nation traditions red is the colour that represents the body,” explained Active Outreach Coordinator Emma Sutherland. “And in many First Nation traditions, the fox is an animal that represents transformation and strength and resourcefulness. The symbolism behind it is that taking care of your body is transformative and that there are ways to do it even when you have barriers to being active and eating healthy.” “For a variety of reasons many of the 8 British Columbians more active and leading healthier lifestyles. In 2006, the Vancouver Park Board asked Emma to develop programs to reach out to Aboriginal people and women and girls to increase their activity levels. Emma responded by launching Active Outreach and the Red Fox program as a consultant, in partnership with Active Communities Vancouver to 12 local fitness adventures that encourages a healthy, active lifestyle for both the children and their families. The adventures include free swimming, skating, wall climbing and park exploration. The Passport is a response to the recognition that our society is facing an inactivity epidemic. Children in particular are not getting enough exercise for optimal development. The five month Active Adventure Passport Program, to be distributed in early February, introduces Vancouver elementary students One of the Adventures, called Red Fox Games is provided through the Red Fox Program. See article below for further information. families in Vancouver who are Aboriginal also are living in poverty,” observed Sutherland, who had been working in Vancouver’s inner-city for 15 years before linking with Active Communities. ver. Red Fox has provided leadership training to over 200 Aboriginal and inner city parents and youth, equipping them to lead fitness and health promotion activities in their The mandate of the Red Fox program is communities. In addition, Red Fox has fosdeveloping youth and parent voluntered Aboriginal and inner city participation teers from the Aboriginal and inner city in the 2006, 2007 and 2008 Active Advencommunities, to lead activities in the ture Passport. schools and community for children and families, to foster Aboriginal and Red Fox partners with Vancouver Native inner city participation in the Active Health Society. Adventure Passport and maintain increased activity levels. Red Fox creates Red Fox is an Active Communities opportunities for Aboriginal people to Vancouver initiative. share their culture, through story-telling, dance performances and singing at Active Communities Vancouver is the City schools, parks and community centres. of Vancouver’s commitment led by the Park Board to To create sustainable benefits to the help achieve Aboriginal and inner city communities, the ProvinRed Fox enhances existing community cial goal programs by offering free Red Fox Ac- to increase tive Adventure sessions to schools and physical community groups. Red Fox Active activity Adventures are activities that promote among fitness, nutrition and environmental citizens by 20 responsibility to children and families per cent by through a series of active stations. Red the year 2010. Fox supports special events throughout the city by providing free activity stations. To date, Red Fox has provided active fun and learning to over 20,000 children, youth and adults in Vancou- WINTER 2009 ccec credit union common interest Keeping Our Money Working in Our Community Since 1976! Your Credit Union....Shelter from the Financial Storm by Jill Kelly, General Manager CCEC Credit Union is not directly affected by the current market turbulence. Our deposits are from our members; we do not borrow from or invest in the financial markets. Our loans are to our members, and our loan delinquency has always been lower than the average for credit unions, which is already lower than for many financial institutions. The friendly CCEC staff are awaiting your call! We can help you move your funds here. Call today for assistance: 604-254-4100 or 1-866-254-4100. Your Retirement Savings Plan by Shelly Galloway, Manager, Branch Operations Anyone with earned income subject to Canadian taxation may contribute to an RRSP. a new RRSP contract requires an initial investment of $500.00. It’s as easy as a visit to the branch to start up your RRSP, a step that could improve your peace of mind and quality of life down the road. It does take commitment: funds withdrawn too early never truly benefit from the tax sheltered compounding factor available in RRSP’s. For added convenience we can transfer your existing RRSP balancCCEC has always maintained es from other financial institutions a healthy level of liquidity and to CCEC Credit Union as the RRSP capital, as a cushion for unsettled Your contribution can be to an times. Our focus is on our mem- RRSP in your own name, your com- products mature. This way you can easily keep track of your investment bers’ needs, not on profits. Our mon law partner’s name (regardfocus is on our community, not less of sex), or your spouse’s name. continued on page 2 (RRSP) on financial markets. This will If one spouse will be in a higher INSIDE: continue to drive our actions tax bracket in retirement, it may be Condensed Financial Statements, during this financial crisis. beneficial to have the RRSP funds AGM Nominations, Del. Authorization Form, Member Business Services, held by the spouse who will be in Tax Free Savings Accounts Information Your deposits with CCEC never the lower tax bracket when the and more. lose value, unlike the stock funds are withdrawn. Join us for your AGM on market and mutual funds. And your deposits are insured by the For those of you who need to get Thursday, January 22, 2009 Credit Union Deposit Insurance started, CCEC Credit Union offers at Rhizome Cafe, 317 E Broadway Commission. For more informaautomatic transfers from chequ7:00pm Registration; 7:30pm Meeting tion visit http://www.cudicbc.ca ing or savings accounts to RRSP’s. NUEVO Vea página 4 por artículos en Español. The automatic transfer can be set Receive Common Interest elecPara contribuir con cosas de interest, up for as little as $20.00 weekly/bitronically. Help us to save paper and llamar a Joanne al 604-254-4100 ó al postage. Sign up today by emailing weekly/or monthly (e.g. set up the correo electrónico Joanne at [email protected]. transfer for paydays). Note: to start [email protected] CCEC’s HOURS Monday Tuesday Wednesday Thursday Friday Saturday ...........11am - 5pm ...........11am - 5pm ...........11am - 5pm ...........11am - 5pm ...........11am - 6pm ...........10am - 1pm RRSP continued from page 1 on your CCEC Credit Union monthly statement. Benefit from the basics - Stop by CCEC Credit Union for your own copy of Understanding the Basics, a free booklet which provides unCOMMON INTEREST derstandable information on RRSP’s Common Interest is published quarterly and retirement income options. by CCEC Credit Union to provide our members with information & opinions on CCEC & its members’ activities. Stories, announcements, photos & volunteers are welcome. Contact Joanne MacKinnon at CCEC Credit Union, 2250 Commercial Drive, Vancouver, BC V5N 5P9 Tel: 604.254.4100 Fax: 604.254.6558 Email:[email protected] BOARD OF DIRECTORS Monalisa Armirsetia Kirsten Daub Michelle Fortin Emma Kivisild Diane Levings Catherine Ludgate Helesia Luke Lew MacDonald Ian Mackenzie Beat the February rush by making an RRSP contribution early, and get off to a good start by starting up an RRSP automatic transfer. The earlier the funds are deposited, the sooner the funds start earning the tax sheltered income. Monday, March 2, 2009 is the deadline for contributions for the 2008 tax year. I look forward to meeting with CCEC members throughout the RRSP season. Unlimited Deposit Insurance On November 22nd, the BC Legislature passed into law amendments to the Financial Institutions Act which removed the limitation on deposit insurance for BC’s credit unions. Previously, the deposit limit was $100,000 per separate deposit type. Now there is no limit on deposits. All your deposits are covered by the deposit insurance. It is worth noting that no one has ever lost a cent on a deposit in a BC credit union! This initiative is partly tied to TILMA (The Trade, Investment & Labour Mobility Agreement with Alberta). The BC provincial government is committed to harmonizing with Alberta wherever possible, and Alberta already has unlimited deposit insurance. Tax-Free Savings Accounts RRSP, rather to a TFSA. 2.In the first year of a TFSA, the only loss is the tax on the interest earned. This will not be very much. 3.The contribution limit is cumulative, so if you don’t contribute in year one, you can contribute double in year two. 4.There are costs to CCEC for Therefore, if you have unused RRSP setting up the TFSA’s, and deductions, you are probably better we aren’t really sure what the off putting any available funds into administration will look like. an RRSP, where your entire deposit is tax deductible. We intend to reassess later in the Tax-free savings accounts have been announced, to great fanfare, CREDIT COMMITTEE Brenda Campbell Heather MacKay by the Federal Government as a David Fleming Reina Sorto new savings vehicle. The maxiCindy Johnson Laura Sturm mum annual amount which can be April Sumter-Freitag deposited in a TFSA is $5,000. The interest earned on the account is STAFF Atilio Alvarez .........Personal Loans Officer tax free. The $5000 deposit is not Manuela Armenta ....Manager, Administration tax deductible. Paul Coulter ...........Clearing Administrator Wendy Frost Sr. Member Services Officer Shelly Galloway .......Mgr, Branch Operations Jill Kelly ..................General Manager Diane Leblanc Member Services Rep./Teller D’Arcy Lee .....................................Teller Murray Livergant .......Business Loans Officer Joanne MacKinnon Member Communications April Marchant........................................Teller Gwen Reynolds .................................Teller Nikki Sharp Member Services Rep./Teller Reina Sorto .....................................Teller Common Interest is written and coordinated by Joanne MacKinnon & contributing authors. Editing & proofreading by Wendy Frost, Shelly Galloway, Jill Kelly, Atilio Alvarez. Printed on recycled paper 2 CCEC has carefully reviewed the TFSA, and we have decided that we will not be offering it right away. There are four main reasons for this decision: 1.Most CCEC members will be better off contributing to an year. We encourage our members to maximize their RRSP contributions before considering the TFSA. But we would like to hear what our members think, so please let us know. New Year’s resolutions: is it your turn? by Lew MacDonald, Board Member Nominations Committee Member Have you made any New Year’s resolutions that involve becoming more active? Helping shape your community? Engaging with your neighbours? Thinking about it? Look no further. The CCEC Board of Directors or Credit Committee is the place where these things happen. As members of this great little financial co-operative, you know that every January we hold our Annual General Meeting where, among other things, we elect new members to replace the outgoing members on our Board and Credit Committee. This renewal process reflects one of the key principles our co-op is built on: democratic member control. That means one member, one vote, with equal opportunity for participation by all. To be specific, this means that CCEC depends on its members—each of us—to share the responsibility of providing direction to the credit union as a whole. Ideally, our credit union’s Board reflects the composition of its membership, and every member should consider the option to run for a position as both a responsibility and an opportunity. have an MBA) to provide guidance to the general manager, act as trustees for members’ deposits, monitor the credit union’s performance and act as representatives to the broader community. The Board meets monthly and has committees that meet throughout the year. A position on the CCEC Board is a fantastic opportunity for any member interested in co-operatives, the credit union system and governance matters. Our Credit Committee is the body that approves member loans and reviews credit policies. Loans are the heart of CCEC and we have one of the last peer review committees of this kind in B.C. The Committee meets monthly. This working group is ideal for members wanting to know more about credit and lending, debt management and small business management. Is this for you? The work can be challenging but you are not alone! You’ll be doing it alongside a great bunch of peers who are there to offer support to first-time directors and Committee members. For Board members, we provide a mandatory comprehensive twoyear director training program that gives you skills to apply at CCEC and beyond. Most importantly, you’ll gain a respect for and understanding of what makes CCEC such a unique and important community institution. So ask the staff for a nominations package today. And don’t hesitate to contact a member of the Nominations Committee (listed below) for more information. The AGM will be held on January 22 at Rhizome Café. We look forward to seeing you there! Contact: Lew MacDonaald tel: 604.708.0577 email: [email protected] Emma Kivisild tel: 604.738.1108 email: [email protected] April Sumter-Freitag email: [email protected] All incorporated member groups are entitled to be represented by an authorized delegate at the AGM of CCEC Credit Union. Please note that the delegate cannot be a CCEC member. Please fax or drop off this form at CCEC, or bring it to the meeting. Be sure the form is signed! More information and AGM nomination forms are available at www.ccec.bc.ca. CCEC CREDIT UNION ANNUAL GENERAL MEETING DELEGATE AUTHORIZATION FORM AGM 2009 FOR INCORPORATED GROUPS ONLY (CO-OPS & NON-PROFIT SOCIETIES) REGISTRATION AT 7:00PM & MEETING AT 7:30PM There are nine directors and seven Credit Committee members, each of whom serves a three-year term. The Board is the place where leadership and strategic direction happens. Our directors use their experience (and you don’t have to We hereby appoint the following as our delegate to the CCEC Annual General Meeting to be held on Thursday, January 22, 2009 at Rhizome Café, 317 East Broadway, Vancouver, BC: N.B. A DELEGATE CANNOT BE A CCEC MEMBER & MEMBER GROUPS MUST BE INCORPORATED. PLEASE FAX THIS FORM TO 604.254.6558 OR BRING TO THE AGM. DATE: __________________ NAME OF GROUP:_____________________________________________________ ACCOUNT #: _____________ DELEGATE NAME: ____________________________________________________ 1. ___________________________________ 2. ______________________________________ (AUTHORIZED SIGNING OFFICER) (AUTHORIZED SIGNING OFFICER) 7 C O M M U N I T Y Credit Union Foundation of BC Application for Education Award Deadline: February 15, 2009 Pick up the Application at CCEC Credit Union. Visit www.cufoundation.org for criteria and further information. As you must mail your completed application with attachement, applications are not available online. E V E N T S February, 2009, Vancouver The Active Adventure Passport will be provided to 100 elementary schools and all 35,000 Vancouver Elementary students. See article on Page 8 for more information. ◊ Foreign Invasion: Remastering London’s Style Saturday February 14, 2009 - 8:00 PM & Sunday February 15, 2009 - 2:30 PM Grandview Woodlands Food Congratulations to Brooke H. Dashwood www.pacificbaroque.com Connection ◊ CCEC Credit Union is a proud sponsor of the and Jill C. Degner, CCEC Members who Community Potluck and NetPBO ◊ received the Award in December 2008. work Gathering Marc Destrubé, guest leader & violin. On Monthly on Thursdays at Britthis Valentine weekend, join the PBO and tania Community Centre 6:30pmguest leader Marc Destrubé as they take 9:00pm. Everyone welcome you back to the heart of 18th Century with or without a food dish. Phone Ian Marcuse London. Along with two of Handel’s at 604.718.5895 for further information. masterful concerti grossi, the program will include music by Purcell, Corbett, Hellendaal and Scarlatti’s keyboard sonatas by Charles Avison. January 20-February 8, 2009 The Politics of Food Film Other concerts: Bach Reconstructed Vancouver - various venues Festival May 3 - Havanna ResSaturday March 21, 2009 - 8:00 PM; Sunday www.pushfestival.ca taurant Theatre ◊ CCEC Credit Union is a proud sponsor of the March 22, 2009 - 2:30 PM Call for volunteers to organize 17th Century Germany: Buxtehude PuSH Festival ◊ the festival. Sponsored by East The annual PuSh International Performing and the Boys Saturday May 9, 2009 - 8:00 End Food Co-op and PM; Sunday May 10, 2009 - 2:30 PM Arts Festival is one of Vancouver’s Grandview Woodlands Food signature events. The Festival presents Connection. groundbreaking work in the live Phone Ian Marcuse 604.718.5895 to volunteer. performing arts: theatre, dance, music and various hybrid forms of performance. PuSh expands the horizons of Vancouver artists and audiences with work that is visionary, genre-bending, multiCoDev 8th Annual Doxa Documentary Film Festival disciplined, startling and original. World Community May 22-31, 2009 Film Festival www.doxafestival.ca ◊ CCEC Credit Union is a proud sponsor of the DOXA February 13-15, 2009 Film Festival ◊ Langara College, 100 W 49th Ave www.codev.org/filmfest ◊ CCEC Credit Union is a proud sponsor of the CoDev Film Festival ◊ Since 2002, ◊ 17th Vancouver International CoDev Canada brings 30 Canadian & Storytelling Festival, international films featuring topics of February 6 - 8, 2009 social justice, environmental issues, HIV/ Heritage Hall, Main Street, Vancouver AIDS, conflict, labour movements, antiThe theme is “In the beginning.....” oppressive movements, human rights, Vancouver Folk Music Festival www.vancouverstorytelling.org queer issues and positive alternatives in July 17-19, 2009 Jericho Beach ◊ CCEC Credit Union is a proud supporter of today’s world. Buy a weekend pass. Buy online: the Vancouver Storytelling Festival ◊ www.ssitickets.com/vancouverfolkfestival/ EventSelection.aspx or phone 604-602-9798. ◊ CCEC Credit Union is a proud supporter of the Vancouver Folk Music Festival ◊ 6 Condensed Financial Statements Condensed Financial Statements are presented here. Full audited statements will be available at the credit union, free of charge. Complete audited financial statements and the auditor's report will be presented and discusssed at the Annual General Meeting on January 22, 2009 CCEC Credit Union Condensed Financial Statements September 30 2008 2007 BALANCE SHEET Assets Cash resources Loans (Net of loan allowance) Investments Equipment and leaseholds Other assets Total Assets $ 5,228,499 $ 6,319,230 21,027,462 19,601,066 83,559 86,988 241,848 284,161 234,605 55,468 $ 26,815,973 $ 26,346,913 Liabilities and Members' Equity Deposits: Demand Term Registered savings plans Equity shares Payables and accruals Retained earnings Total Liabilities and Members' Equity $ 11,102,070 $ 11,905,913 6,705,366 6,179,419 7,456,065 6,850,094 244,257 241,097 136,486 128,529 1,171,729 1,041,861 $ 26,815,973 $ 26,346,913 STATEMENTS OF EARNINGS AND RETAINED EARNINGS Financial income Financial expense Financial margin Other income Provision for loan losses Income before operating expenses Operating expenses Earnings before income taxes Income taxes Net earnings $ 1,409,907 $ 488,503 921,404 321,091 (12,605) 1,229,890 1,075,425 154,465 24,597 $ 129,868 $ 1,316,609 435,101 881,508 271,553 (10,723) 1,142,338 1,032,835 109,503 27,566 81,937 Retained Earnings, beginning of year Net earnings Retained Earnings, end of year $1,041,861 129,868 $1,171,729 $959,924 81,937 $1,041,861 "Lew MacDonald" Sign up today at www.ccec.bc.ca! Making New Years’ financial resolutions? Check out Smart Cookies Guide to Making More Dough. CCEC Credit Union sponsored this book as part of Word on the Street 2008. Visit their website at: www.smartcookies.com "Michelle Fortin" 3 NEW - for our latin members. Translation provided by Atilio Alvarez and Lucia Alvarez. Cuentas de Ahorro -Libre de Impuestos Seguro sobre los Depósitos Desde Noviembre 22, 2008, la Asamblea Cuentas de ahorro han sido anunciadas Legislativa aprobó reformas al Acta de Las con un gran fanfarrón, por el Gobierno Instituciones Financieras, que elimina la limiFederal como una forma de ahorro. La tación en los Seguros sobre los Depósitos en cantidad máxima que puede ser depos- las Cajas de Ahorro y Crédito de la Columitada en una Cuenta de Ahorro Libre de bia Británica. Anteriormente, el límite era impuestos es $5,000.00. Los intereses de $100,000.00 por cada tipo de depósito. ganados en la cuenta no pagan imAhora no hay seguro límite en los depósitos. puesto. Los $5,000.00 de depósito no son Todos sus depósitos estan cubiertos bajo el deducibles de los impuestos. seguro. Por lo tanto; si usted tiene un margen de deducciones que no ha usado,para usted sería mejor poner cualquier fondo que tenga disponible en un Plan de Retiro Registrado, donde todo depósito es deducible de los impuestos. Es importante hacer notar que nadie ha perdido ni un centavo en las cajas de ahorro y crédito de la Columbia Británica. Esta iniciativa es parcialmente unida a TILMA(El Comercio, Inversiones y el Acuerdo de Mobilidad Laboral con Alberta). CCEC ha revisado cuidadosamente la El Gobierno Provincial de la Columbia Cuenta de Ahorro Libre de Impuestos, y Británica está dispuesto a armonizar con hemos decidido que nosotros no ofrecer- Alberta todo lo que sea posible, y Alberta ya emos esto inmediatamente. tiene seguro sin límites para los depósitos. Hay cuatro razones principales para tomar ésta decisión: 1. 2. 3. 4. La mayoria de miembros de CCEC estarán mejor contribuyendo al Plan de Ahorro de Retiro Registrado, que al de la Cuenta de Ahorro Libre de Impuestos. En el primer año de la Cuenta de Ahorro Libre de Impuestos, la única parte que se pierde son los impuestos en los intereses ganados. Esto no será mucho. El límite de la contribución se acumula, por lo tanto si usted no contribuye en el primer año, usted puede contribuir el doble en el segundo año. Existen costos para CCEC para implementar la Cuenta de Ahorro Libre de Impuestos, y nosotros no estamos seguros como será la admin stración. MULTICULTURAL FAMILY CENTRE 1145 Commercial Drive, Vancouver, BC • Se ofrecen servicios y se organizan • • • • Tenemos la intención de reevaluarla mas tarde en el año. Proponemos a nuestros • miembros que contribuyan el máximo en su Plan de Ahorro de Retiro Registrado, antes de considerar la Cuenta de Ahorro • Libre de Impuestos. Pero nos gustaría oir que piensan nuestros miembros. Por favor déjenos saber sus pensamientos. 4 grupos de ayuda mutua para promov- er programas educativos de la salud, tales como: la diabetes y otras enferme dades crónicas Se organizan paseos y otras actividades para personas mayores de edad Charlas educativas sobre adicciones para hombres Consejería a corto plazo Consejería práctica y ayuda para llenar formularios y resumés Preparación para el examen de ciudada nia Información acerca de recursos dis ponibles en la comunidad Nuestro Plan de Ahorro de Retiro Escrito por Shelly Galloway Gerente de Operaciones Cualquier persona con ingresos ganados sujeto al sistema de impuestos, puede contribuir a un Plan de Ahorro de Retiro Registrado. Su contribución puede ser a un Plan de Ahorro de Retiro Registrado en su propio nombre, su compañero(a) de vida, o en el nombre de su esposo(a). Si una persona estará en la tabla de impuestos más alta durante el retiro, podría ser más beneficioso tener los fondos en el Plan de Ahorro de Retiro Registrado a nombre de la persona que estará en la tabla de impuestos más baja cuando los fondos de ahorro se retiren. Para aquellas personas que necesitan empezar, CCEC Credit Union ofrece transferencias automáticas desde su cuenta de cheques ó de ahorros para su Plan de Ahorro de Retiro Registrado. La cantidad mínima para empezar is $500.00. Es tan fácil como visitar la oficina para establecer su Plan de Ahorro de Retiro Registrado, un paso que puede mejorar la tranquilidad mental y la calidad de vida mas allá del camino. Esto toma la forma de un compromiso. Fondos retirados demasiado temprano nunca realmente se benefician de la protección de pago de impuesto del crecimiento de interes compuesto disponible para las Cuentas de Ahorro de Retiro Registrado. Evite las carreras de último minuto en Febrero, haga su contribución a la cuenta de Ahorro de Retiro Registrado temprano, y tenga un buen comienzo, estableciendo una transferecia automática para su cuenta de Ahorro de Retiro Registrado. Antes de invertir en cualquier cuenta de Ahorro de Retiro Registrado, pregunte acerca del seguro de proteción de los fondos invertidos. Los depósitos en CCEC Credit Union, incluyendo las cuentas de Ahorro de Retiro Registrado, califican para la cobertura del seguro para depósitos. Mutual Funds no tienen la cobertura del seguro que garantiza los depósitos. Para mayor información, llamar a Pedro Ramírez ó German Blanco al 604-254-6468 Lunes, Marzo 2, 2009 es el último día para las contribuciones, para el año 2008 de impuesto. Manuela Armenta, Manager Administration and Business Development Manuela’s background and education make her a welcome addition to the CCEC team. Before joining CCEC, Manuela was a Senior Commercial Financial Services Officer with HSBC Bank Canada for five years and completed a Masters Degree focused on socio-economic development. In addition, she brings social finance and community economic development experience to CCEC, CCEC’s Other Services for Businesses & Non-Profits by Manuela Armenta, Manager, Administration & Business Development Most of our members know that CCEC offers a full range of operating loans, term loans, and mortgages for businesses and community organizations. We want to take this opportunity to introduce you to the other services which are available through CCEC for our business and group members. MemberPlan: Memberplan is an insurance plan that provides medical, dental and extended health benefits for business owners, employees and their families. The product is affordable for small and medium-sized businesses and organizations and can help retain valued employees. In addition to the core coverage, additional coverage can be bought as necessary, which means you can tailor the product to suit your needs. Business Credit Cards: A business credit card is just like the credit card you have for personal use, except it’s for expenses relat- having recently worked in La Paz, Bolivia with a “micro” venture capital NGO, and subsequently with Canadian Crossroads International in Vancouver. products CCEC offers that best meet those needs. ed to your business or non-profit. The card covers day-to-day costs, thereby acting as a supplement to your line of credit. It makes record-keeping easier and helps to separate your business expenses from your personal finances. card at your place of business or non-profit operation? If the answer is yes, it may be worth taking a look at merchant services. Having the ability to accept credit and debit card payment options can help to grow your business or non-profit. The payments are deposited electronically to your CCEC account. This issue features an article by Manuela discussing the highlights At CCEC, Manuela’s area of respon- of four of CCEC’s sibility includes the development business product offerings. We inand promotion of products and services for small businesses. She vite you to take a peek and feel free looks forward to working with our members to understand their to follow-up on needs and build awareness of the any questions with Manuela. Customer Automated Funds Transfer (CAFT): CAFT is a web-based product that automates and regularizes incoming and outgoing payments such as regular donations, in-house payroll, supplier expenses and creditor obligations. After an initial set-up and implementation process, you can log-on and enter your payments on the online database. All payment information is saved and stored securely on the database and can be revisited anytime changes need to be made. You can also print out a monthly record of transactions for easy record-keeping. Automating in-flows and out-flows of payments helps you to manage your monthly cash flow. Please feel free to phone Manuela for further information at 604.254.4100 ext 30 or email her at [email protected] AGM Door Prizes From our Members to our Members Donate an item or service as a door prize at our Annual General Meeting on Thursday, January 22, 2009. This is a great opportunity to network with CCEC’s membership. For more information or to donate an item, please contact Joanne MacKinnon at 604.254.4100 or [email protected]. Merchant Services: Would you like to be able to accept payments by credit card or debit 5