what's that?
This is a new government savings program to help your member save up to $40,000 for a down payment for their first home.
What is the First Home Savings Account
We started lending to women without a male cosigner in this decade.
When are the 1960's?
difference between PAP & Direct dep
PAP is a debit / direct dep is a credit.
director prior to Mirella
who is Jenn Taylor?
minimum beacon score required for lending applications.
what is 620?
This product earns you minimum 1.25% cashback based on all of your purchases.
What is our Enviro Visa Infinite Card?
New tool to help members track the estimated carbon emissions of their credit card purchases. Members will be able to see how their monthly tally compares to the national average, or which credit card purchases have the highest environmental cost.
what is carbon counter?
The exact date we switched over to T24.
November 16th, 2016
max amortization for fair and fast loans
what is 24 months?
This product is a basket/portfolio of various investments catered to the members risk tolerance.
what is mutual fund
Vancity provides the pay rate required for two working parents to meet the basic needs of a family of four.
What is a Living Wage?
Vancity is a proud signatory to the Living Wage Campaign and is committed to meeting, or exceeding, the annual Living Wage rate for our employees and our contracted suppliers.
What FINTRAC stands for.
Financial Transactions and Reports Analysis Centre of Canada
what is the lower interest rate offered on our VC CC & annual fee?
classic 11.25% + points - $50
classic 11.25% no points - $25
Gold 11.25% + points - $145
Gold 11.25% + no points - $45
This product is useful to business members who get a large volume of cheques in and out of their account every month.
What is a small business operating line of credit?
***DOUBLE JEOPARDY***
Vancity is part of this international network of banking leaders and change-makers who share the principles of putting money to work for positive change — by using our members’ capital to create positive impact for people and the planet.
What is GABV - The Global Alliance for Banking on Values
when did the 1st VC branch open?
Vancity's first branch, known as Vancouver City Savings Credit Union, officially opened for business on October 11, 1946. Fourteen Vancouver residents signed a charter on September 28, 1946, to establish the credit union. The initial branch was located in a former machine shop on Broadway and Quebec streets.
name any 3 premium benefits on our Infinite visa
Premium Visa Infinite Benefits
Visa Airport Companion membership⌀
Local business discounts±
Flight delay insurance§
Mobile device insurance§
this converts/combines many of your debts into one loan, simplifying how many payments you have to make
What is a Debt Consolidation Loan?
Vancity Visa gives this percentage of our profits to this Vancity fund.
What is 3% to the Vancity Envirofund.
Who is Vancity owned by?
Vancity is a financial services co-operative, owned by our more than 560,000 members and democratically controlled on the basis of one member, one vote.
PAM mortgage details including procedure for using those benefits. 3 main parts/steps.
1.Enter Program Code: PAM
2.Add “PAM wealth adjustment” as a separate income line in LOS for debt servicing purposes.
3.Place a hold on the cash security according to the Debt Servicing requirement found in the Proven Asset Mortgage section of the Retail Lending - Mortgage Standard.
If the wealth adjusted TDS is…
Then a pledge of cash security is…
Less than 50%
not required
50.01 to 55%
required, equal to 12 months of the contracted mortgage payment is required.
55.01% to 60%
required, equal to 24 months of the contracted mortgage payment is required.