Get the Mortgage Facts...

Choosing mortgage options that are right for you can be confusing.  Here are some mortgage facts made simple:    

On a closed, fixed rate mortgage, your interest rate and payment will not change throughout the duration of the term; buyers who like to budget are often better suited to closed fixed rate mortgages.

With a closed, variable rate mortgage, your interest rate fluctuates with the prime rate so it can change from month to month; this feature will continue throughout the term of the mortgage and may not be as attractive as it sounds.

Open, variable or fixed rate mortgages can be paid off at any time during the term; please note - you will be paying a premium on your rate for that privilege.  Open mortgages usually attract buyers who plan to make lump sum payments or are considering selling in the near future.

We're here to answer your questions...make an appointment today with Patti Carpenter at our Garrison Road location or with Maureen Murphy at our Jarvis Street location. 

Protect your 'PIN' 

Just as the key to your home protects unwanted entry, your Electronic Banking 'Key'... your Personal Identification Number ... 'PIN' ... ensures that only you can access your accounts through ATM machines and POS transactions.    

We suggest you practice the following security safety procedures... 

• Choose a 'PIN' number that is easy for you to remember, but difficult for others to guess or figure out.  Never choose numbers such as your birthdate, your home address or your children's ages.  
• Keep your 'PIN' number confidential.  Do not share your number with anyone, including a Fort Erie Credit Union employee.  Do not write down your PIN or keep a copy in your wallet. Always be aware that you could be observed when keying in your PIN number; cover your hand when typing on the PINpad.  
• Update your 'PIN' number regularly.  We suggest you change your PIN every 30 to 90 days; more often if you use your MemberCard as your primary method of withdrawing funds through ATMs or making purchases through POS (Point of Sale in the retail outlets).      

Email Scam

Recently, several CUETS MasterCard CHOICE REWARDS cardholders were contacted in an email scam.  Cardholders were informed of a non-existent program called "CASH POINTS" and were asked to update their credit card information by email to win 1,000 points. 

These emails are fraudulent  --  members are advised to delete these emails and do not click on the message.  These emails are 'PHISHING' for personal information to help criminals steal your identity or defraud you.

Never disclose personal information such as Social Insurance numbers, credit card numbers, family history or especially the CVC numbers from credit cards.  The CVC number is the security number on the back of the actual credit card that verifies to legitimate companies that you are in possession of your credit card. 

If it seems 'Phishy".....

This is not the summertime family fun that we all remember.  'Phishing' is a rapidly growing form of internet fraud that can lead to financial loss and identity theft.  Emails are sent out that appear to originate from legitmate companies directing victims to fraudulent look-alike websites where victims are asked to enter personal and financial information. 

Protect yourself....

• be suspicious of any email with urgent requests for personal or financial information
• avoid filling out forms in email messages if you suspect the website may be fraudulent
• check with your bank & credit card statements to ensure all transactions are legitimate

Be assured, we would not request this type of information via email.  Please contact us if you receive anything suspicious that claims to be from Fort Erie Credit Union.                    

Vacationing in Cuba? 

The Cuban government has announced that as of May 1, 2010 all foreigners must carry a travel insurance policy with medical coverage in order to enter the country - any valid travel insurance policy issued by an insurance company will be acceptable.  For more information, visit the Cuban Embassy in Canada's official website at http://embacu.cubaminrex.cu/default.aspx?tabid=17941.       

Protect your Credit Score...

Every time you apply for a new credit card or miss a payment, it affects your credit score.  To help maintain the good score that you already have always remember to pay your bills before the due date.    Receive 1 free credit report annually from Trans-Union of Canada by calling the Consumer Relations Centre at 1-800-663-9980 or call Equifax Canada at 1-800-465-7166 for a free report any time.  

Take a worry free vacation this year! 

Make your vacation worry free this year by protecting yourself and your funds before you leave home by purchasing TIC Travel Insurance and American Express Traveler's Cheques, available in both Canadian & U.S. funds.  Just visit your branch before you leave or call in advance and our friendly Member Service Reps will have the paperwork ready to sign.

RRSP & RRIF Beneficiary update...

Come into your home branch and have your RRSP/RRIF information updated. One of our cheerful Member Service Reps will be happy to review your file to confirm that your RRSP/RRIF beneficiary forms are up to date with current information.