INSIDE • Leasing falling out of favour among car shoppers • Member Equity Plan
S P R I N G 2004
first in our community
Killarney Branch Receives
New Look, Inside and Out Making
After months of extensive renovations
Killarney’s branch has a whole new look. the
A special thanks goes out to the members
and staff that endured days of hammering,
drilling, no roof and no windows. Everyone
still managed to look after their personal
finances. Westoba’s commitment to continue
to offer quality products and services to your
community is stronger than ever. when
for a new
Killarney Branch, before renovations
condo, new or resale?
urchasing a new home is a
major decision in your life. To Take the time to work out the
make sure you get the best maximum price range you can afford
value for your dollar and are happy or should consider. Getting a pre-
with your investment, there are a few approved mortgage from your credit
things you may want to consider. union will help you stay within your
Requirements: What do you price range.
require in your new home? How many Resale: Will the property be
Newly renovated exterior bedrooms? Do you want a garage? readily saleable if you are required
Consider whether you’re buying to move?
the home to meet today’s needs or
your needs in 3 to 5 years. continued inside
Location: What areas of your
community do you prefer? Do you
want to live near work, schools, 2004 INFORMATION
shopping, family, friends, recreational AND ANNUAL MEETING
facilities and public transportation? INFORMATION MEETING
Walk or drive around the area Tuesday, March 9 – Pilot Mound
during the day and evening to
Newly renovated interior
determine if the area may be right ANNUAL GENERAL
for you. MEETING
Tuesday, March 16 – Victoria Inn, Brandon
Price Range: What price range can
you afford? What type of home — Details available at all branch locations.
detached, semi-detached, townhouse,
Shopping for a new home?
It pays to get answers to your questions
continued from front page potential drainage problems that may
Leasing falling happen in the spring?
out of favour Current plans may not be to move,
but knowing the area’s saleabilty will
Look for water damage stains, leaks
or cracks that may cause extra
among car help should plans change in the problems.
future. Property Tax: Is the property tax
shoppers Energy Efficiency: Is the house stable, or would tax increases cause
energy efficient? What type of financial problems?
For several years now, there has heating does the home have? Is the Check the taxes in the area you are
been an ongoing debate about home fully insulated? What are the looking at to ensure the amount will
whether it is cheaper to lease or average utility costs? fit in your budget.
buy a new car.The answer to that Checking the above may help Planning Changes: Are any
question is really a personal one, you avoid unexpected high utility changes in the planning stages that
based on how long you plan to bills, as well as costs such as a new may affect the property or the
drive the same vehicle, how many furnace. neighbourhood you wish to live in?
kilometers you drive during the Repairs: Are there likely more Check out the municipal or
course of a year, whether you repairs required in the near future, regional offices for any major
prefer to own a vehicle rather such as electrical, plumbing or roofing development or zoning changes that
than rent one, and many other repairs. Does the home appear well may occur in the future.
variables.While leasing may be built and structurally sound? Planning ahead and doing a bit of
right for some people, purchasing To help avoid costly repairs, you groundwork may help you ease the
a vehicle may be the best option may want to consider calling in an pressure when making a decision to
for others. expert to carry out an inspection of buy the home of your dreams. The
On the whole, however, it the house. Professional house above are just a few points to consider.
would appear that leasing is inspectors are available on a fee-for- For more details a booklet entitled Fact
falling out of favour among service basis. About Mortgages is available at your
Canadians looking for a new Drainage Problems: Are there any local Westoba branch.
automobile. Recently released
statistics show that retail leasing
of new cars and light trucks
peaked in Canada in 1997 at ✄ CLIP & SAVE
527,000 units. Since then, the
number of leases has steadily
dwindled — particularly since the
introduction of zero per cent
2004 Credit Union
financing on new vehicles in late
2001. It has been estimated that
personal use leases fell to just
320,000 units in 2002. Branches of Westoba Thursday, July 1 Thursday, November 11
If you’re trying to decide which Credit Union will be Canada Day Remembrance Day
option is best for you, your credit closed the following Monday, August 2 Monday, December 27
union may be able to help you days: Civic Holiday For Christmas Day
with the decision.There are also
resources online, such as the Friday, April 9 Monday, September 6 Tuesday, December 28
Good Friday Labour Day For Boxing Day
CUMIS Group’s Life Events Planner
(http://lifeeventsplanner.cuis.com), Monday, May 24 Monday, October 11
which you can use to help make Victoria Day Thanksgiving Day
the decision a little easier.
your credit union
View cheque images online Preferred
A new, free service from Westoba
The Board of Directors of Westoba
heque imaging • Print and retain images at your
Credit Union is pleased to advise
has been a part convenience
members that Westoba Preferred
of your monthly • View payee information
Share investors received a
statement for the last • See endorsement info on the back
dividend for 2003 of 6%.
few months. A new • See any notes made on the front of
enhancement will soon the cheque
be available to this already convenient • No need to wait for the statement at
way of balancing your cheque book. month-end.
You will have the ability to access
your cheque images 24 hours a day, Best of all, cheque imaging online
seven days a week using internet is free!
banking.These images will be available Westoba Credit Union will keep
to you for up to six months. you posted as to when this new
Additional features include: enhancement becomes available.
Member Equity Plan
Sharing in the earnings of your Credit Union
What is the purpose of the earned on savings and deposits, paid on Member Equity Shares and
Member Equity Plan? To provide excluding certain registered plans because equity shares represent
each member with an opportunity (RRIF, LRIF, RESP) and shares, based true equity, they are considered risk
to share in the earnings of the on a calendar year. Patronage capital and therefore are not
Credit Union, while maintaining the allocations are rounded to the guaranteed.
Credit Union in a strong equity nearest dollar, but not distributed if
position. they are less than $1.00. Patronage Can a member withdraw these
on loans and non-registered funds? Generally, an active member
How does the member Equity deposits is paid out as additional cannot redeem the Equity Shares.
Plan work? An allocation rate is Equity Shares, while patronage on There are special circumstances
approved by the Board of Directors, registered deposits is paid out in under which consideration will be
dependent on the amount of additional RRSP Equity Shares. given to a complete redemption of
earnings at year-end. The allocation the Equity Shares in a Member
is then given to the member in the Where are these Equity Shares Equity Plan.
form of Equity Shares. held? Equity Shares have a par
value of $1.00 and are allocated to Your Board of Directors has
What determines how many the Member Equity Plan held within approved a patronage allocation of
Equity Shares I receive? The your existing membership number. 3.5% totalling close to $1,000,000
approved percentage is applied to for eligible Westoba members.
the members’ amount of interest Do Equity Shares earn interest Allocation details can be found in
paid on loans including lines of and are they guaranteed the same your January statement.
credit and a percentage of interest as other deposits? No interest is
first in your community
RIVERBANK DISCOVERY CENTRE
LOCAL COMMUNITIES BENEFIT WITH RECEIVES A DONATION FROM
DONATIONS TOTALLING OVER $7,000 WESTOBA CREDIT UNION
Westoba employees continued to celebrate the credit
union’s 40th anniversary by putting together an anniversary
cookbook with recipes from staff and the board of directors.
A portion of sales was given back to community charities
chosen by each branch location.
Donations to date are as follows:
BRANCH DONATION RECIPIENT
10th & Princess $916.75 Westman Dreams for Kids
Brian Deutscher, VP Marketing & Human
Carberry $547.00 Carberry Child Care Co-op Resources presents a cheque for $1000
1st & McTavish $700.00 Brandon United Way to Ted Snure, Secretary-Treasurer for the
Riverbank Discovery Centre.
34th & Victoria $271.75 Christmas Cheer Board
Souris $520.00 Hillcrest Museum WESTOBA ON PARADE
Rivers $400.00 Riverdale Harvest
$55.00 Recreation Facility fundraiser
Glenboro $555.00 Carson & Jaymee Rogers Trust Fund
The Pas $500.00 Breanne Hanson Memorial Fund
Pilot Mound $528.00 Pilot Mound Swimming Pool
Swan Lake / Bruxelles $455.00 Small Endeavors Daycare in Swan Lake
$100.00 Bruxelles Community Development Committee
Mariapolis $145.00 Mariapolis Fitness Club
La Riviere $278.50 The Canadian Foodgrains Bank
Killarney $600.00 Killarney New Facility
Cartwright $321.00 Cartwright Community Independent School
Ninette / Belmont $564.00 Westman Dreams for Kids
$138.00 World Vision
Westoba staff helped celebrate the
If you missed getting a cookbook and would like to enjoy some great home cooked recent Christmas season by entering
recipes, contact your branch. A limited supply of cookbooks is still available. floats in a number of local parades.
Above: Belmont (top) and Brandon.
Brandon Corporate Office La Riviere 242-2777
1020 Princess Avenue Mariapolis 836-6510
Brandon , MB R7A 0P8 729-2050 Ninette 528-5400
Designed by IMG • Printed by Leech Printing Ltd.
Belmont (sub-branch) 537-6500 TeleService Representatives
Brandon – 10th & Princess * 729-2060 Pilot Mound 825-6300 Monday to Friday
Brandon – 34th & Victoria * 729-2080 Rivers 328-6330 8:00 am to 8:00 pm
Brandon – 1st & McTavish * 729-2070 Souris 483-6300 Saturday
8:00 am to 4:00 pm
Brandon – Richmond Ave.* 729-2060 Swan Lake 836-6500
Carberry * 834-6300 Bruxelles (sub branch) 526-6400 Automated TeleService
24 hours a day, 7 days a week
Cartwright 529-5600 The Pas * 627-6300
Glenboro 827-6300 571-2928
Toll Free 1-877-937-8622
Killarney * 523-5300 *ATM Locations
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