New to Canada

• Depositing your payroll
• Debit card transactions
• Sending Interac® e-Transfers
  (and many more popular features)

• Saving for a vacation
• Saving for a vehicle or other large purchase
• Saving for a mortgage down-payment
• Earning interest
  (and more)

Direct Deposit is the most convenient way to receive payments to your chequing account. This allows funds to be deposited directly into your chequing account on a set schedule, eliminating the need to manually deposit a cheque each time.

As a newcomer, you may wish to have your government payments and payroll directly deposited to your account. The government and most employers will ask for a completed direct deposit form to set up your deposits. This form contains your account information such as name and address, account number, branch transit number, and institution number.

Direct Deposit is also an easy way to make regular payments such as your insurance, utilities, or phone bills. Some companies will ask for a completed Direct Deposit form to set up automatic withdrawals.

Send money to anyone in Canada using Interac® e-Transfer. Interac® e-Transfer allows you to send and receive money within Canada with ease and convenience using either an email address or mobile number that has been enrolled with your Canadian financial institution. You are able to use this service using online banking on your desktop or app on your mobile phone.

Where you need us to be—at home, on the go, right at your fingertips.

Access Credit Union offers digital banking on your laptop, desktop, or smartphone. With digital banking you can:

• Check your account balances
• Transfer funds from your accounts
• Pay bills
• Deposit cheques
  (and much more!)

or

What is credit?

Credit is the amount of money you have been trusted with by lenders. Your credit score is a number based on the credit you have been given and how you have paid it back. The better you handle credit the higher your credit score will be. If your credit score number is high, that is considered having good credit.

Why do you need credit?

If you have ‘good’ credit, it will be easier to get loans, credit cards, and lower interest rates. If you have a low credit score, or ‘bad’ credit, it may be difficult to get approved for future credit. This can make it hard to get a credit card, buy a car or house, or get a cell phone.

How do you build credit?

• Open a line of credit.
• Open a credit card.
  
• Take out a loan or mortgage (often requires you to have a good credit score first)
• Use credit carefully. As in, if you get a loan, make sure you pay it off as promised.
• Don’t take out too much credit. If you have several credit cards, lenders might consider that a risk.

• Watch your savings grow on a tax-deferred basis
• As an added incentive, the federal government pays a 20% bonus - up to $500 every year, to a lifetime limit of $7,200 per child
• In addition to your RESP contributions, you could receive the Canada Learning Bond and/or Canada Education Savings Grant