Powell River

The Credit Union Lady, 1914-2017

~ Jessica ~ 1 Comment

It is with heavy hearts that we share that Ruth Allan, known as ‘The Credit Union Lady’ has passed away at the age of 102. Ruth affectionately became known as The Credit Union Lady while administering the School Savings program for First Credit Union, formerly known as Powell River Credit Union, beginning in 1957. After 23 years, Ruth retired from the School Savings program in 1980. More than 35 years after her retirement people still stopped her in the community to recount their memories of her and those School Savings program days. It was a legacy she cherished. Central1 captured the essence of Ruth’s story as ‘The Credit Union Lady’ in this short endearing video released last year.

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Ruth’s impact on the lives of thousands of children was significant and long-lasting. In First Credit Union’s 76 year history no one has influenced the lives of so many or been remembered so warmly; her spirit will live on in the hearts of those she touched.  In honour of her impact and her significance in First Credit Union’s history, a $1,000 scholarship will be introduced in her name. The Ruth Allan Scholarship will be awarded to a member in grade 12 in the Powell River area who has demonstrated the capacity to save for and contribute to the cost of their education, and who has made a commitment to making a difference in the lives of others.

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Image of 3-year old Phil Carriere and Mrs. Ruth Allan with other children from Kelly Creek School, 1963. Photo provided by C. C. Searle Photographs.

 

 

History of How “The Credit Union Lady” Came To Be

(Sourced from: Start Small, Dream Big – The 75 Year History of BC’s First Credit Union by Linda Wegner):

Following the death of her first husband, Ruth Allan and her two sons moved to Powell River to be near her sister. Her first jobs in Powell River included being employed at a local five-and-dime store, at Powell River Paper during World War II, and later, in the Mill’s paper plant. She remarried into a family of credit union members and consequently joined the Powell River Credit Union in 1949. Ruth was once again widowed when her second husband, Peter Alton, died in an accident at the Mill. A daughter had been born to the couple and now Ruth was left to support herself and her three children.

Ruth was asked if she would like to take over the School Savings program in 1957. Ruth recalls the Directors of Powell River Credit Union visiting her to ask if she was interested. It was an opportunity that proved providential in meeting her financial needs and demonstrated yet more evidence of the commitment of the credit union to care for its members. “It was absolutely perfect for me, being able to be home when my daughter came home from school”, explained Ruth when interviewed for the First Credit Union’s 75th anniversary book.

Ruth’s daughter Evelyn recalls that being the child of The Credit Union Lady carried  responsibilities. “Everyone in town knew her and if I was bad they’d tell on me; I could get away with nothing!” she said, laughing.

When she first began with the School Savings program, each student had a card with their name on it. When students brought their money, the appropriate card would be pulled and deposits recorded by hand. With the assistance of other volunteers, Ruth’s responsibilities included visiting ten schools each week. Ruth remembered many good things about her time with the School Savings program including the little boy who used to come, barefoot, across the field to bring her his nickel. Ruth attended his graduation and saw him go off to university.

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At First Credit Union’s anniversary, one former student fondly shared Ruth’s impact on her life. The student developed the habit of saving through the school program. She would bring her twenty-five cents to school each week and saved enough so that when she got married, she had enough money to purchase her husband’s wedding ring.

 

Ruth, The Credit Union Lady, remained as administrator of the program for twenty-three years and a passionate First Credit Union member for the duration of her life. She will be greatly missed, and fondly remembered for her legacy as The Credit Union Lady.

 

We’re Hiring!

~ Jessica ~ Leave a comment

admin-assitantAre you or is someone you know looking for an administrative role with a great organization? We are searching for an awesome new member to join our team as Administrative Assistant at First Credit Union in Powell River!

Do you…

  • have great organization skills?
  • work well independently?
  • exercise good judgement and communication expertise?
  • have post secondary education in office administration?

Our Administrative Assistant position might be the perfect role for you!

Check out our latest posting to apply or for more information.

We’re Hiring!

~ Jessica ~ Leave a comment

We are looking for a new member to join our awesome First Credit Union team in Powell River!

  • Do you have great customer service skills?
  • Are you team-oriented?
  • Do you thrive in a fast-paced environment?

Then you should check out our latest posting for a Financial Service Representative:

https://can850.dayforcehcm.com/CandidatePortal/en-US/fcu/Posting/View/11

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First Credit Union was recently recognized as one of BC’s top 100 fastest growing companies and Employer of the Year. We’re always searching for great people to add to our team; if you’re an enthusiastic, dynamic individual looking for professional growth, think about joining the First Credit Union team. Our flexible, respectful, and engaging environment that facilitates your developing career could be the perfect place for you.

All About Registered Disability Savings Plans (RDSPs)

~ Jessica ~ Leave a comment

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Are you …

  • Receiving the Disability Tax Credit?
  • Less than 50 years old?
  • A Canadian resident?

You could be eligible to receive up to $4500 annually in government grants and bonds.

Join Randall Smisko of First Wealth Management for an informative evening presentation on everything about RDSPs.

The RDSP is a Canada-wide registered savings plan for people with disabilities, and is designed to help people living with a disability and their families save for the future.

Wednesday November 23, 2016
6:30 PM – 8:00 PM
Powell River Recreation Complex

To register, contact the Powell River Recreation Complex at 604-485-2891

Are You Prepared For An 8.0 Earthquake?

~ Avry Janes ~ Leave a comment

Shake ZoneResidents and business owners of the Comox Valley and Powell River are invited to participate in the Shake Zone earthquake simulator and emergency preparedness fair to experience what an 8.0 magnitude earthquake feels like and shake up their personal preparedness planning.

The portable simulator will be set up in Simms Millennium Park on Friday, June 3, 2016 from 1:00 to 7:00 p.m in the Comox Valley and in Crossroads Village Parking Lot on Monday, June 6, 2016 from 1:30 to 7:00 p.m in Powell River.

In addition to the earthquake simulator, emergency responders as well as emergency preparedness and insurance displays will be onsite to help educate on best practices to be prepared and lower your risk.

The Comox Valley and Powell River  Emergency Program has partnered with Insurance Bureau of Canada (IBC), First Insurance, Westview Agencies and other emergency programs across Vancouver Island to bring the Shake Zone to various stops on Vancouver Island and the Sunshine Coast. The event is free to attend and up to three people at a time will be able to take part in the simulator. Elected officials and school groups will take part between 1:00 and 2:00 p.m in the Comox Valley and at 1:30 p.m in Powell River.

Children must be a minimum of eight years old to participate and children eight to 10 years old must participate with a legal guardian. To view highlights from the 2015 tour, click here. For more information about the Shake Zone, visit www.comoxvalleyrd.ca/quake or http://www.powellriverrd.bc.ca/community-services-2/emergency-preparedness/

A boost for non-profits available through Community Investment Fund

~ Avry Janes ~ Leave a comment

 

Investment Funds 2016 (FCU&I)
2016 marks the third annual Community Investment Fund initiative presented by First Credit Union and Insurance. This program provides one-time financial support to non-profit organizations who contribute to the long-term social, health, economic, and collective well-being of the communities we serve.

Being able to provide a financial boost to a non-profit project or program is an opportunity for First to support vulnerable members of the community we may not otherwise connect with. Each year we are humbled by the tremendous work being done by non-profits and their ability to elevate the lives of those who need it most.

Past recipients of the fund include: Bowen Island Snug Cove House  (affordable senior care), Comox Valley Family Services Association (helping youth with anxiety), Cumberland Community School Society (providing support for new mothers), Powell River Hospice Society (providing end of life care and compassion) and Texada Health Services Society (supporting those living with Cancer).

This year we are proud to announce $11,350 in funds are available. Below is a breakdown by region:
• Bowen Island $1,000
• Comox Valley $2,700
• Cumberland $1,400
• Powell River $4,400
• Texada $650

Non-profit organizations in the Bowen Island, Comox Valley, Cumberland, Powell River and Texada Island area can apply for the Community Investment Funds via the ‘community page’ of either the First Credit Union or First Insurance websites. The deadline to apply for the 2016 funds is Friday, March 18th, 2016. The successful applicants will be announced at the First Credit Union AGM in Powell River this May.

For information about the Westview Agencies Community Investment Fund, visit the website ‘community page’.

5 Identity Theft Jackpots (and How You Can Safeguard Against Them)

~ Tara ~ Leave a comment

Identity theft is nothing new, and yet it still manages to cost its victims billions of dollars (yes, that’s billions with a “b”) globally each year—not to mention the time and hassle involved in recovering a stolen identity.

The good news is that there are tons of things you can do to deter identity thieves. The bad news is that many of us do little beyond choosing a decent password—and some people don’t even bother doing that! Here are the top 5 information jackpots for identity thieves, along with helpful tips on what you can do right now to protect yourself.

  1.  Your Trash Can

Even if you’re really careful about the information you put online, your trash bags and recycling bin can still be an easy target for identity thieves. Dumpster diving may sound old school, but it’s still an easy way for identity thieves to get access to your personal information.

  •  Get a shredder (a basic model will run you $20 to $30 at a big-box store) and use it!
  • Get into the habit of shredding things before throwing them out, especially things like bank statements, expired credit cards, utility bills, cellphone bills, paycheque stubs, old boarding passes and travel itineraries, and ATM receipts.
  • Don’t forget to check your envelopes! Anything with your name and address on it needs to be shredded, too.
  1. Your Phone

Odds are that you’re carrying a lot more in your phone than just your contact list. With smartphone theft on the rise, protect yourself:

  • Have a password-protected lock on your home screen. This is a standard feature on all smartphones for a reason, so take advantage of it! Bonus points if your smartphone also has location tracking (also known as the “find my phone” feature).
  • Public Wi-Fi networks are not secure, so avoid checking your bank accounts or doing your online shopping from the local coffee shop or during your layover at the airport.
  • Do not store sensitive information on your phone—storing passwords or login information in a note-taking app is bad news.
  1. The PIN Pad

It seems like every few months a new point-of-purchase scheme emerges—skimming devices, keystroke loggers, ATM hacking… the list goes on! Here are some good practices for when you’re out and about:

  • When making a purchase, keep your debit or credit card in sight at all times.
  • Use your hand to block the buttons when entering your PIN number, even if there’s no one immediately behind you—a camera can always be watching.
  • Choose a good PIN. Avoid PINs derived from your personal information, like your telephone number, address or birthday. Avoid an easy-to-guess PIN, like the dreaded “1234”.
  • Change up your PIN, especially if you use the same combination for your debit card and for unlocking your cellphone.
  1. Your Mailbox

Like the trash-picker approach mentioned above, mail tampering is a low-tech but relatively easy way for identity thieves to compromise your personal information. Here’s what you can do:

  • Familiarize yourself with your billing cycles. A late credit card statement or a bill that never shows up could be a sign of mail tampering.
  • Identity thieves will sometimes request a change of address to illegally reroute your mail to a different location. If you suddenly stop receiving mail, check with the post office to make sure this isn’t the case.
  • Use a mailbox with a locking system to deter thieves.
  1. Your Computer

You would think that this one would be common knowledge by now, but every so often a virus or scam comes along that trips us up. Stay one step ahead of scammers:

  • Keep your firewall, anti-virus and operating system software up-to-date. No matter how new and fast your laptop is, it still needs protection.
  • Enable spam filters on your email accounts.
  • Look out for sketchy links and emails. Ignore any suspicious password reset requests, unexpected tracking numbers or anything that asks for your personal information via email.
  • Don’t overshare on social media. Do your Facebook friends really need to know what year you were born? Can people tell when no one is home based on your Instagram feed? Keep your accounts private and make sure you’re not accidentally broadcasting sensitive information.

By being aware of the top 5 information jackpots and by implementing these simple strategies, you can keep identity thieves at bay.

Some Choices Matter

~ Tara ~ Leave a comment

Some choices matter – including where you choose to bank. You will probably do more business with your financial institution than any other corporation in your lifetime. So why not take the profits your financial institution makes, and put them to work for you and your community?

Credit score breakdown: what you need to know

~ Tara ~ Leave a comment

You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what’s the deal with checking them?

A credit score is a number (usually between 350 and 800) that represents your creditworthiness. It’s a standardized measurement that financial institutions and credit card companies use to determine risk level when considering issuing you a loan or a credit card. Basically, it provides a snapshot of how likely you are to repay your debts on time. Widespread use of credit scores has made credit more widely available and less expensive for many consumers.

The credit scoring system that we’re familiar with today has been around since the 1980s. Before then, there was no standardized way to measure creditworthiness, so it was up to individual lenders to make judgment calls on whether or not to loan money to someone. The old system was time-consuming, inconsistent and quite biased, so a credit scoring system was introduced.

The FICO score is the best known and most widely used credit score model in North America. It was first introduced in 1989 by FICO, then called Fair, Isaac and Company. It’s also known as the Beacon score in Canada. The FICO model is used by the vast majority of banks and credit grantors, and is based on consumer credit files from the two national credit bureaus: Equifax Canada and TransUnion Canada. Because a consumer’s credit file may contain different information at each of the bureaus, FICO scores can vary, depending on which bureau provides the information to FICO to generate the score.

When credit scores were first introduced, they were used primarily for loaning money. Today, credit scores have much more pull, and that’s why it’s important to understand how they’re calculated. Your monthly car payments, your ability to snag that sweet apartment and even the hiring manager’s decision on that new job you applied for can all be influenced by your credit score.

A credit score of 720 or more is considered prime—this means you’re in good shape. Scores under 625 mean you could be turned down for a loan. Scores in the good-not-great range (625 to 720) might get you loan approval, but your interest rates will be higher than if you had a prime credit score. Nobody likes the idea of paying more money for no reason, so it makes sense to adopt credit habits that will boost your overall score.

Taking the time to familiarize yourself with how credit scores are calculated is the first step in getting a strong score. Each credit bureau uses a slightly different calculation, but the basic breakdown goes like this:

  • 35% is based on payment history. Making payments on time boosts your score.
  • 30% is based on capacity. This is one of the areas where the less you use of your total available credit, the better. If you get close to maxing out all your credit cards or lines of credit, it tanks your score, even if you’re making your payments on time.
  • 15% is based on length of credit. Good credit habits over a long period of time raise your score.
  • 10% is based on new credit. Opening new credit cards (this includes retail credit cards) has a short-term negative effect on your score, so don’t open a whole bunch at once!
  • 10% is based on mix of credit. Having a combination of different types of credit (like revolving credit and installment loans) boosts this part of your score. Credit cards are considered revolving credit, and things like car loans and mortgages are installment loans.

Curious about your credit report? You are entitled to one free credit report per year by mail from Equifax and TransUnion. Spacing out your credit report requests allows you to check on your credit every six months or so. If you can’t wait for a free report by mail, you can always get an instant credit report online from Equifax or TransUnion for approximately $15.

When you receive your credit report, you’ll notice that it does not list your three-digit credit score. Despite this, it’s still a helpful reference because it serves as the basis of your credit score. If you know how a credit score is calculated, then you know how to look for factors on your credit report that might be influencing your score for better or for worse. It’s also an easy way to look at account openings, account closings and what your repayment history looks like.

You can get access to your actual credit score from either Equifax or TransUnion for an additional fee ($20 to $25).

Some commercials make it seem like credit scores are big, mysterious, randomly assigned numbers. But with a little research, a little patience and some good habits, you can influence your credit score in a positive way and not be caught off guard by a denied loan or an outrageous interest rate.

Changemakers among us

~ Tara ~ 1 Comment
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Lorraine Allman and Tara Chernoff from First Credit Union present a $7,500 donation to Martyn Woolley and Jessica Colasanto from the Community Resource Centre

You don’t have to go too far to find changemakers in our community. These are people who are passionate about making a positive difference in the lives of others, people who act to make the world a better place to be, people like the staff at the Community Resource Centre.

The Community Resource Centre (CRC) has been operating in Powell River since 2007. While the CRC’s services are available to everyone, their main purpose is to assist the most vulnerable members of our community by providing a safe place for them to socialize, integrate, learn, and have access to basic services. Many of their clients are  experiencing low income, social or cultural isolation, homelessness, or are at risk of becoming homeless.

The CRC provides a range of services including the Harmony Cafe, cooking classes, public access computers, public telephone, volunteer tax-help, legal and community services information, and even laundry facilities. Behind the building is a thriving garden and a composting demonstration centre. The produce grown in the garden supplies the Harmony Cafe.

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First staff volunteering at the CRC Community Garden during Community Impact Day 2015

It takes a lot of volunteers and community support to run the Community Resource Centre effectively; our staff experienced this first-hand when they volunteered their time to do fall maintenance in the CRC garden during Community Impact Day 2015. Last week were were thrilled to be able to support the essential work of the CRC once again, this time with a financial donation of $7,500. We’d like to shout out a big thank you to our creditor insurance provider, CUMIS, for contributing $2,500 towards this donation, as part of a nation-wide initiative to support local non-profit organizations.

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One of the highlights of my job is presenting donations on behalf of our organization and our members. At the end of the cheque presentation, Martyn and Jessica presented us with a gift – a beautiful thank you card signed by the CRC staff and clients. In it they wrote:

 “Alone we can do so little, together we can do so much!”

We wholeheartedly agree. Thank you CRC for making a positive difference in the lives of our most vulnerable community members. Thank you for being changemakers!