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Luseland Credit Union continues to maintain a zero service charge environment for cheque writing, deposits, point of sale purchases, and ATM withdrawls. This allows the Credit Union to keep the number of accounts at a lower level, making it much simpler to do your banking. There is no need for a member to hold multiple accounts when there are no service charges.
All deposit and investment accounts with Luseland Credit Union Limited are fully guaranteed by Credit Union Deposit Guarantee Corporation. For more information on this guarantee, check out the Credit Union Deposit Guarantee Corporation's Web site. All of our accounts are accessible by stopping in at the Credit Union. If you would prefer, they can be accessed by using your MemberCard, Global Payment MasterCard, or MemberDirect internet banking. Each account is set up with only in branch service with the other options available upon request.
The personal chequing account is our most convenient account for your every day needs. Personalized personal or business cheques can be ordered at cost and may be used to pay for purchases or your monthly bills. Imaged copies of those cheques are returned to you along with your monthly statement.
Interest is calculated on the minimum monthly balance and is paid annually on January 1. The minimum balance for the month is calculated on the first day of the next month and as such all withdrawals should be made on the 2nd day or later to maximize your return. The interest rate paid is excellent for an account as open and flexible as our regular savings. This account is eligible to participate in our patronage program.
Our trust accounts operate the exactly the same as the regular savings account. They benefit from the same interest rate payments and are an excellent way to save for a child's future. This account is eligible to participate in our patronage program.
The Plan 24 account accrues interest daily with payments being made back to the account monthly. It is an effective account for short term savings with frequent interest payments. This account is eligible to participate in our patronage program.
This account type operates the same as our normal chequing or regular savings account with one exception. The Credit Union offers free cheque orders
In 2008 the federal government announced that they would create a new savings account for Canadians in 2009. This account allows you earn interest or capital gains tax free. Luseland Credit Union, through our partnerships with Concentra Financial and Credential Financial Strategies, is able to offer all types of investment options that qualify under the TFSA program.