Archive for category: Uncategorized

VantageOne Financial (VOF) is excited to share an excellent opportunity that can help our clients, members and their families achieve the dream of owning a home – with the Tax-Free First-Time Home Savings Account (FHSA).

In 2023, the Canadian Government introduced a program to assist buyers who have not owned a home in the preceding 4 years. Key advantages of this program include:

1. Contributions: Contributions are tax free. There is an annual contribution limit of $8,000 in any year, including 2023, and a lifetime contribution limit of $40,000. This means that tax paid dollars deposited into the program get you a tax-refund just like an RSP deposit.

2. Savings Incentives: The income earned within the account remains tax-free provided it is withdrawn for the purpose of purchasing a qualifying home including the down payment, closing costs, or any other related expenses involved in the purchase of your first home.

3. Joint Account Option: If you are purchasing a home with your spouse or common-law partner, both of you can open separate FHSA’s and combine the funds for a maximum total of $80,000. Pooled resources, give you a greater advantage in achieving your goals.

4. Repayment and Withdrawal: If the funds are used to purchase a home or related costs and proper documentation completed, there are no repayment requirements.

It is important to note that the FHSA is available to individuals who meet the eligibility criteria set by the CRA, which primarily involves being a first-time homebuyer and a resident of Canada. Visit CRA for detailed information and specific guidelines related to the FHSA.

VantageOne Financial is here to guide members and clients through the process of opening and managing their FHSA. As well as assist in evaluating their financial situation, exploring suitable savings strategies, and ensuring compliance with the program’s requirements. Several different types of investments qualify under this program.

With contactless payment options more important and convenient than ever, VantageOne Credit Union members now have access to higher Interac Flash transaction limits. With a quick and easy ‘set-up’ on your existing debit card, you can now tap and pay for purchases up to $250, with a cumulative total of $400.

*Some merchants may have set different contactless limits than up to $250 (per flash transaction)

How do I activate the new transaction limits on my current VantageOne debit card?

• You must complete three consecutive contact point of sale (POS) transactions with your chip and PIN. They can be at the same merchant terminal or at different merchant terminals. (Important to note that ATM transactions do not count!). After those three transactions, your Interac Flash limits will be automatically increased.

What happens when I reach the cumulative total of $400?

• After your cumulative (tap) limit of $400 is reached, you will be asked to insert your debit card and enter your PIN during your next transaction. By entering your PIN, your cumulative Interac Flash limit will be reset back to $0, and you can continue using tap for payments.

What if I don’t want to increase my Flash transaction limit more than my current limit of $100?

• Unfortunately, we cannot adjust flash limits. However, we can reduce your daily point-of-sale and ATM limits. Please call our Solutions Centre team Toll Free at 1.888.339.8328 to request this change.

Is Interac Flash secure?

• Technology – It leverages the secure chip technology and unique Interac Flash functionality to keep their data, and finances safe.
• Limits – Interac Flash purchases are limited to $250 per time. Plus, users must enter the card’s PIN after $400 in Interac Flash purchases. This verifies the correct person has the card.
• Zero liability – Members will not be liable for losses resulting from circumstances beyond their reasonable control when using Interac Debit, Interac Flash, cross-border debit and Interac Online service. This includes the losses resulting from technical errors, system problems or fraud.

NOW CLOSED – Thank you for your feedback!

We appreciate your business and want to make sure we meet your expectations. As our members, you are our owners and this makes your feedback essential to us!

In our survey, we will be asking questions about your overall experience with our Commercial Services team and your business outlook and priorities. You will also have the opportunity to leave your own comments and feedback in multiple areas throughout the survey.

Is there a prize draw?
By taking our survey, you will also be entered into our draw for 3 prizes of $125 each in gift cards to support local businesses.

Will I be contacted after I fill this out?
Only those who wish to be contacted or are winners of a prize will be contacted by VantageOne. 

The survey has 15 questions and may take approx 10 minutes to complete. This survey closes on May 28, 2023.

(survey is now closed, thank you!)

All members are invited to attend!

Wednesday
May 10, 2023
7:00 pm
Registration begins at 6:30 pm
Prestige Hotel, 4411 32nd Street, Vernon

2022 Annual Report

Join more than one million British Columbians who choose a credit union.

Security, reliability, and trust is what we promise you at VantageOne, plus our local guarantee:

• • Our decisions are made here.

    When things have to “go up the ladder for approval”, that means it starts and ends right here in Vernon, Armstrong, Peachland or Edgewood. Our ladder doesn’t stretch across Canada, awaiting a delayed response from someone in another time zone who has no understanding of what it’s like to live here. We decide, right here.

    Our staff are local.

    When you visit us, you are dealing directly with staff who live, work and play in the local communities. When you call us, you are reaching our staff right here, not a call centre based in Ontario or another region.

    We help local businesses, and so do you.

    When you bank here, your funds stay here to support businesses in our area with loans, planning and advice. Check out our local business spotlights.

    Community programs are enriched.

    Community programs are enriched through donations, volunteers, funding support and financial ability education. Your money helps make this possible!

    Technology, with a personal touch.

    We offer omnichannel technology services for our members with a focus on making them accessible and easy to use. Our channels include; mobile app, online banking, Solutions Centre call centre, EasyConnect live video call and online chat & more!

And, when you choose VantageOne Credit Union, your deposits are fully protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).

Learn more here

VantageOne Credit Union is a BC Financial Services Authority authorized credit union and is covered by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC)