YOUTH
ACCOUNTS
➊ Together through life At EKC we make sure you’re
ready for each stage of your life with products and services
that help you achieve your goals. Anyone can join a credit
union — 1 in 3 British Columbians already have!
➋ You’re our bottom line You own us, not the other
Check out EKC’s videos at EKCCU.COM –
learn about budgeting to credit scores
way around. EKC leads other financial institutions by sharing profits with our members and our communities via
patronage rewards, dividends, scholarships and donations.
➌ More local EKC staff provide 100% of all approvQ&A CONTINUED…
Statements
ffA list of your deposits, withdrawals, fees (if any) and
interest deposits.
ffIt is always a good idea to check your statements
monthly to make sure what you think and what
EKC has is the same. If you have a question or see
something you think is not right talk to us!
ffYou can review your statement details online using
MemberDirect® online banking
Rule of 72
So you know what interest is but you want to know more?
The Rule of 72 can help. The rule says that to find the number
of years required to double your money at a given interest
rate, you just divide the interest rate into 72. For example, if
you want to know how long it will take to double your money
at 8% interest, divide 8 into 72 and get 9 years. If interest
rates are at 3%, divide 3 into 72 and get 23 ½ years.
als, including loans and mortgages. This flexibility allows
unique products and services based on member needs
— just ask any personal or business member. Any member
can run to be part of our local Board of Directors.
➍ 100% deposit protection At EKC all depositors are
100% protected* by the Credit Union Deposit Insurance
Corporation of British Columbia.
➎ Excellent rates and low service charges combined
with the service you need. It’s just Common Sense™.
*B.C. Credit Union Deposits are 100% guaranteed by the Credit
Union Deposit Insurance Corporation of British Columbia.
Did you know?
FREE MEMBERLINK® Telephone Banking
and FREE MemberDirect® Online Banking
f fiGROW
JUNIOR
ACCOUNT FOR AGES
18 AND UNDER
f fQUESTIONS
ANSWERS
Rev. 03-20-2017 Desktop Graphics
We offer personalized service and Common Sense™
solutions that are easy to understand. EKC strives for
exceptional quality, value and service, to give you the
freedom and flexibility to manage your money and live
your life the way you want.
Common Sense™ solutions
Cranbrook
Fernie
920 Baker Street
1601 – 9th Ave
Tel 250.426.6666
Tel 250.423.9222
Toll free 1.866.960.6666 Toll free 1.866.423.9222
Elkford
Sparwood
Elkford Square
124 Aspen Drive
Tel 250.865.4661
Tel 250.910.9222
Toll free 1.800.313.2201 Toll free 1.855.222.5788
EKCCU.COM
Mortgage Advisor
Toll free 1.855.222.5789
AND
Interest
ffWhen you leave your money in your account we pay
you. On your account it may not be much but when
you consider investment options like our Community
Bond you will be surprised how quickly it adds up.
MEMBER CARD® Debit Card (or Bank Card)
EKC supports you in every stage so you can master your
finances. Junior accounts are for age 18 and under.
Worry less, live more.
Together through life.
The ‘must have’ account for ages 18 and under.
From your first piggy-bank to your first job, the iGROW
account grows with you to give you what you need when
you are ready for it. EKC keeps your money safe when you
empty your first piggy bank, offers support when your first
paycheque arrives, and teaches you how to check to see
when your paycheque is deposited directly into your account.
We can coach you about how to be safe and secure with
your first MEMBER CARD® Debit Card, use online banking
and mobile services.
FREE MEMBERLINK® Telephone Banking
and FREE MemberDirect® Online Banking
ff18 years and under
ffFREE first 50 basic* or electronic** transactions
ffFREE deposits†
ffFREE monthly e-Statements
ffFREE unlimited MEMBERLINK® telephone banking,
Q&A
How to open your first account
Is your piggy bank busting? Make an appointment to see
us. It is easy and a step to good financial habits at EKC.
Bring a parent or guardian and the following:
ffBirth certificate, passport, Social Insurance Number,
plus bus pass, student ID, health card, BC ID card, etc.
Shares
When you open your account you will be asked to put $5
into your “A” shares account. Don’t worry, it’s not a fee.
It’s a one-time investment giving you a say in how we do
business through the Board of Directors. We’ll also return
it to you in full if you leave EKC. But we really hope you
won’t and while your money is in you A shares account you
usually receive dividends. Check EKCCU.COM for details.
When the time comes...
MemberDirect® online banking (bill payment,
transfers, inquiries and statements)
ff$1.00 withdrawals, cheques, transfers by teller
ff$0.85 auto debits
ff$2.00 bill payment by teller
ff$0.85 point of sale
ff$0.85 EKC ATM, Canada C.U. ATM
ff$2.50 Interac ATM
ff$3.50 international ATM
fffor 16 and under indemnity forms must be signed by
parent or guardian before a card can be issued
See EKCCU.COM or a staff member for more details.
ffverb – the act of putting your money into your account
ffnoun – the amount you are putting into your account
† FREE deposits include: teller, ATM and direct
ffA charge paid by you to EKC – but don’t worry there
* Basic transactions include: withdrawals, cheques, transfers
** Electronic transactions include: EKC ATM, OTHER Canadian C.U. ATMs, Direct payment
(POS), auto debits, GLOBAL PAYMENT MasterCard®, transfers (ATM, MEMBERLINK and
MemberDirect)
We have safe, banking services from our apps on Android®
and iPhone®. Just remember to keep your passwords safe,
do not share it and log out of the app when you’re done!
Deposit
Withdrawal
ffverb – the act of taking your money out of your account
ffnoun – the amount you are taking out of your account
Fees
are very few, if any fees for your age. When you are
18 come in and we will review how this will change
and how we can keep the fees low.
At EKC we call the card a MEMBER CARD because you
are a member. You choose your own PIN number which
you should never tell anyone. MEMBER CARD’S can be
used to buy something in a store or take out cash from
an ATM (FREE at EKC and other credit unions). You can
use the ATM at the following:
ffany Credit Union
ffHSBC
ffCanadian Western Bank
ffCitizens Bank
ffNational Bank
ffCaisse Populaire
With your EKC MEMBER CARD Debit Card, you
have access to thousands of ding-free ATMs on The
EXCHANGE® ATM Network*
*transactions fees may apply based on your account
MEMBER CARD Debit Card online and offline limits
ffAt EKC we set limits on your card as a protection.
On-line limits are reasonable amounts set pending
your spending habits. Talk to us about what is right for
you. Off-line limits are set so when systems are being
updated very little money can be taken out. If this
happens to you just try again in a few minutes.
ffYou may notice limits when you are making a purchase
and you are refused. It could be you have spent over
your daily limit or the machine is off-line so try again.