Summer 2021Summer 2021

UNITY CREDIT UNION NEWSLETTERUNITY CREDIT UNION NEWSLETTER

Summer 2021Summer 20214 1

Unity Credit UnionUnity Credit Union120 - 2120 - 2nd nd Avenue EastAvenue EastP.O. Box 370P.O. Box 370Unity, SK S0K 4L0Unity, SK S0K 4L0

Phone: 306-228-2688Phone: 306-228-2688Fax: 306-228-2185Fax: 306-228-2185

Monday - Friday Monday - Friday 8:30 a.m. - 4:30 p.m.8:30 a.m. - 4:30 p.m.

www.unitycu.cawww.unitycu.caEmail: info@unitycu.caEmail: info@unitycu.ca

Outdoor Rink

Some of our staff helped the Town of Unity take down the outdoor rink, which was located at the Richardson Outdoor Recreation Park.

Plaid for DadTown of Unity Clean Up

Unity Credit Union staff participated in the Town of Unity’s ‘Adopt a Block’ Clean Up project! Even +33 degrees didn’t stop us!

Pictured is Crystal O’Brian, Nicole Headrick (Town of Unity), Rachel Loran, and Gerald Hauta, CEO.

Golf Club Donation

Unity Credit Union was once again proud to donate $5,000 to our Unity Golf Club to help purchase a new mower! The sponsorship was approved by our Board of Directors as part of an ongoing commitment to support our local golf course.

CMHA Fundraiser

Some of our staff participated in the Canadian Mental Health Association (CMHA) Saskatoon branch fundraiser. Shirts were purchased from Toni Bryan of Hometown Designs Ltd. Toni designed these shirts and incorporated the famous semi-colon.

There is an old saying “You never miss the water till the well runs dry.” This applies to all facets of life. Often times, we don’t take time to show appreciation or acknowledge what others have done or their contributions until it is too late – they may move, they may get sick or they may pass away. Often we don’t ”take time to smell the roses and appreciate them.” The community of Unity is a community that offers a lot to its residents and neighbouring communities. The community offered a lot during what has been a trying year for everyone. Unity Credit Union would like to show our appreciation for those who are here, for what they do, today. We start with all the health care workers who look after our well-being and did so even through the very trying last year and a half. We still needed to be cared for and so did our loved ones in their care. Thank you. For the professionals in our community – the lawyers, accountants, chiropractors, dentists, optometrists, veterinarians, massage therapists and other specialty care givers. These people could have chosen to live and work other places and maybe even made more money. Fortunately for us they chose Unity, and in doing so provide services we all need regularly or at least periodically. It is so nice to deal with a “local” rather than going out of town to obtain the services these professionals provide. Thank you.

For the entrepreneurs and companies that have chosen to start or maintain businesses in our community. They provide us groceries, keep our pets happy, provide supplies to keep our homes, farms and businesses running smoothly. They make us look good from head to toe for the photographers. They provide us news and coverage of our events. They buy and sell our grain and commodities, survey properties, fill prescriptions. They provide convenience items when we forget to attend to these during regular business hours. They provide fuel, look after our technology requirements, brighten our lives with flowers and gifts and look after our children and other loved ones. They sell furniture, vehicles and our houses. They help us plan a vacation and help us at the end of our lives. They do all this and more and we just expect them to be there and have the supplies we need when we need them. Thank you. For the tradespeople. They build, beautify, fix, unplug, install and do all sorts of things that we want and need done. Again, these people have chosen to remain in our community and when we need them late at night, on a cold day or just when

something no longer works, we sure appreciate them, but we should appreciate them everyday. Thank you. For the hospitality, entertainment and fitness venues. They bring families and friends together, provide shelter and a place for us to eat, share beverages, swap stories and tell lies. They help keep us in shape or get us back into shape. Thank you. For the service clubs and not for profit organizations. They do things, not for themselves, but for the good of the community to enrich it and the lives of those who choose to live here and to help welcome those who visit. Thank you. For the educators. We move through life learning and growing, and these people play a key role in our early lives preparing us to succeed regardless of the direction our lives take. Thank you. When you write a column such as this, someone may read it and say “What about me or my neighbor?”, so for everyone I missed, Helen Keller said, “Alone we can do so little, together we can do so much.” Coming together makes a community thrive. Thank you to any and all who live and provide any type of service in our community. Just as important, thank you to all those who support all those who do any form of business or provide service in our community. And now for the prepaid public announcement. Unity Credit Union also provides service to the community. In the simplest sense, we provide financial services. Most people may think of us as providing loans and taking deposits. From our point of view, we provide much more than that, but there are also the intrinsic benefits provided by Unity Credit Union that may be taken for granted or not realized. We appreciate being able to provide loans and investments to members but we want to remind you that we provide more than just financial services. If we were to “leave the community”, there would be many organizations, clubs and activities that would lose a sponsor, not receive a donation, lack support or be deprived of scholarships. The community would lose volunteers. Our staff volunteer in the community and to an extent are expected to get involved because we realize we rely on the local area to support us. We are extremely lucky to have a staff group that is ready and willing to help out so many causes and organizations in various capacities. Our staff earn money in the community and are encouraged to spend money in the community. By earning wages, and spending wages, we enhance the local economy. We are a

local organization that make decisions for the local area. Our decision makers, both directors and managers, are local people. They live in the area. They understand the area. They know how economic and environmental factors affect the area. They make decisions with a view of doing things in the credit union’s and the members’ best interests at heart. And finally, when we make money, we share the profits with you. As a financial co-operative, a guiding philosophy is to give back to the community we serve. Rewarding members through patronage is another form of giving back to the community. That is the end of the prepaid public announcement.

Unity Credit Union is proud to belong to the community. We support and appreciate all the other businesses and service providers in our area and wish them continued success as the province re-opens. We ask you to support these businesses to ensure that our community remains vibrant and strong for years to come. I would like to thank my staff for their involvement in the community. I thank the people of our community who are members and place their trust in us. To those who are currently not members, I ask you to consider supporting us for what we do, what we stand for and what we contribute to the community. If that is important to you, give us a call, stop in or email us to learn more!

Have a great summer!

Gerald HautaCEO

CU in the CommunityCU in the Community

From the Big ChairFrom the Big Chair

Pictured is Megan Schweitzer, Manager of Marketing, along with Glen Heitt from the Unity Golf Club.

Pictured is Megan Schweitzer, James Acuna, Jennifer Wilson, Gerald Hauta, and Scott Smith. Missing is Rachel Loran, Ashley Hamilton, and Crystal O’Brian.

Our Unity Credit Union staff dressed in plaid to help raise awareness and support for the prostate cancer cause with the Canadian Cancer Society. Our staff also donated $120 to this cause.

Pictured is Kerri Green, Andrea Eddingfield, Megan Schweitzer, Vanessa Spendelow, Rachel Loran, and Michelle Aldred.

Congratulations Graduates

Members of our board, management, and staff would like to congratulate the graduating class of 2021. Graduates close to our heart at Unity Credit Union this year are Abby Rutley and Megan Ralston (Grade 12); Claire Moscrip, Jordyn Schurman, Kadence O’Brian, Kai Riou, Kira Purcell, Tayler Eddingfield (Grade 6); and Addison Rabl-Hewitt (Kindergarten).

Summer 2021Summer 2021Summer 2021Summer 20212 3

Safe Ways to Have a Fun and Safe COVID-free Summer

Summer is here, and it’s time to get out and enjoy it while it lasts!

Many of us have travelled around the world and seen fascinating places, but how much do we really know about our own province? Saskatchewan is home to many beautiful lakes where you can bring your family for a secluded day of swimming or hanging out in the sun. There are monuments all over the province worth seeing in person and some of our nature is still untouched and wild. Pack the car to eliminate too many stops - this is of utmost importance in a pandemic - and hit the road to explore.

Boat or not, grabbing your gear and reeling in a few can be just what the

doctor ordered - a chance to get away from your city or town and just relax. Fishing is great as it can be done with a small group or simply be a solitary activity. Don’t forget your license!

Camping allows you to get out into the wilderness with your friends, family, or by yourself. Much like fishing, camping is a great chance to experience nature and get away from the rigors of daily life. It’s also a safe activity during the pandemic if you set up away from other groups.

Golfing is another favourite for the people of Saskatchewan. Small groups slowly moving through an open area means you aren’t likely to interact with many people beyond

your golf party. Just make sure you bring some hand sanitizer!

Our province is filled with beautiful natural elements that are worth seeing on foot. Staying safe on a hike is of utmost importance, so be sure to bring a GPS tracker and let someone know where you are and when you plan to return in case you get lost. Many phones aren’t able to receive a signal in the wilderness so plan ahead.

A Short Dictionary of Mortgage Terms

The local housing market is hotter than ever and for those dipping their feet into purchasing a home for the first time, here is a useful dictionary of terms you will encounter when negotiating a mortgage.

• Amortization - total number of years needed to re-pay the mortgage loan (typically between 15 and 25 years)

• Convertible - fixed-term

mortgages (typically 6 or 12 month terms) that can be converted to longer terms without penalty charges

• Variable - a mortgage rate that fluctuates with the financial institution’s lending rates. Variable rate mortgages are reviewed annually to ensure payments are sufficient to retire the mortgage in the remaining amortization period

• Fixed - an interest rate that is locked in for the term of the mortgage (usually 1 to 5 years)

• Open - a mortgage on which you can pre-pay any amount without a penalty

• Closed - a mortgage with limited pre-payment options, beyond

which a financial penalty is levied

• Penalties - usually levied when payments to a closed mortgage exceed the amounts allowed under the mortgage agreement

If you are thinking of purchasing a new home and have questions, please give us a call at 306.228.2688 and speak to one of our Account Managers.

Fraud continues to be on the rise, and the numbers help paint the picture. Some might be shocked to learn of just how large a problem it is in Canada, and why it is so important to learn how to keep yourself safe.

From the Canadian Anti-Fraud Centre:

The Impact of COVID-19 Fraud* (from March 6, 2020 to April 30, 2021)• Canadian reports of COVID-19

fraud - 19,570

• Canadian victims of COVID-19 fraud - 17,717

• Money lost to COVID-19 fraud - $7.26 million

The Impact of Fraud in 2021 (as of April 30, 2021)• Canadian reports of fraud - 33,455• Canadian victims of fraud - 19,610• Money lost to fraud - $66.7

million

*COVID-19 fraud related to any form of fraud offering vaccines, treatments,

fraudulent charities, COVID-related emails, spoofed government information and more.

If you think you have been a victim of fraud and your banking information has been compromised, please call us at 306.228.2688.

Ups and Downs Just Part of the Dollar’s Story

The Canadian dollar hit its all-time low of 61.79 cents USD on January 21, 2002. Some nineteen years later, its current value rests around 83 cents USD. We haven’t always fallen below the $1 USD mark with our currency. On November 6, 2007, the dollar hit its modern-day high of $1.10 USD. And while we aren’t over $1 USD right now, that isn’t to say things will stay that way forever.

The ups and down of the Canadian dollar are nothing new for a currency with a rich and interesting history. Consider:• In the early days of the fur trade,

wampum - tubular beads made from seashells - was often used as a form of currency by Indigenous Canadians.

• In the late 1600s and early 1700s, French playing cards - inscribed with a value and signed by the Governor of New France - were used as Canada’s first paper currency.

• Paper notes began circulation in 1858 with the issuing of the $1

bill. In 1887, the $2, $50, $500, and $1000 notes were created and circulated.

• The Bank of Canada was established in 1935, during the height of the Depression. With it came Bank of Canada notes, which gradually replaced private bank and Dominion of Canada notes as the country’s currency.

• The dollar coin, or Loonie as it became known as, was introduced in 1987. Initially greeted with mixed reviews, the Loonie has become something of a national symbol. The two-dollar coin, or Toonie, was added in 1996.

Fast Facts About Fraud in Canada