Winter Newsletter – December 22, 2022

Dear Valued Members,

As 2022 ends, given all that’s going on in our world, it’s an important time of year to be thankful for where we live and the great people in our neighbourhoods and communities. The volunteers and organizations that support our communities are essential and we encourage all members to show thanks and provide support if you can do so. For VantageOne, we face a much different economy than we did a year ago and anticipate this will continue to change. We are working hard to update service delivery, will be implementing stronger online security systems in early 2023 and are proud to have been nominated for two business awards.

From an economic perspective there has been a drastic change over the past year. Interest rates hiked upward, moving from very low rates to a prime rate now approaching 6%. As I have mentioned in previous communications, the change has been driven by demand growth during the pandemic, supply chain cost increases and the significant increase in the money supply created by government programs. All of this has contributed to the highest inflation we have seen in 40 years, with the response by the Bank of Canada to be firm in their path to bring inflation down to more manageable levels. We anticipate they will stick to this path, and we will see a slowdown in our economy in 2023. How severe the slowdown will be depends on how high rates must go to bring inflation down; however, we believe we are getting close to this level as rate increases do take time to run through the economy. In our communities we benefit from economic diversity and desirability for people to live here. This will assist us in getting through an economic slowdown in a stronger fashion than many other areas.

I am pleased to share that we now have a great Branch Manager team in place leading our branches. After leadership changes mid-year, we have a strong team looking at service delivery flows and staffing needs. Working with our great staff, our goal is to provide the best service possible when you need to visit a branch. We are seeing success; however, we do get caught occasionally on a day that is busier than we expect. Please bear with us as we learn and adapt.

In early 2023, we are working to improve the security authentication for online and mobile banking. As we look to expand technology services and the world of cybersecurity continues to evolve, we need to ensure we continue to have systems in place to protect members. This will involve implementing what is called two-factor authentication (2FA). What 2FA will mean to you is you will need two ways to authenticate yourself to get into our banking systems. This isn’t hard and is used by many companies now. We will communicate clearly when this is coming, what you need to do and will have our staff prepared to answer your questions to get you through this.

We were pleased to be nominated for Employer of Year and Large Business of Year in the Greater Vernon Chamber of Commerce Business Awards. We achieved honourable mention on both these awards and would like to thank our leadership team and staff who do all the hard work to make nominations for these awards possible.

Finally, from all of us at VantageOne, we thank you for your support and commitment to VantageOne! We greatly value your choice to bank with us and are working hard to provide you with the service you deserve.
Happy Holidays, Merry Christmas and Happy New to everyone from all of us at VantageOne Credit Union.

Sincerely,
Glenn Benischek
Chief Executive Officer

Call for Director Nominations
Nominations are invited to fill two (2) vacancies on VantageOne Credit Union’s board of directors. Two (2) directors will serve 3-year terms, ending in 2026. Directors perform an important role in the credit union, especially in the shaping of policies and long-term objectives.

To be eligible, candidates must be nominated by three (3) members or by the Nominating Committee. They also must be members, other than junior members, in good standing, at least twelve (12) months prior to the date of the Annual General Meeting, which is to be held on May 10, 2023.

Written nominations for the volunteer positions must be received no later than 3:00 pm, Friday, January 27, 2023. Nominations can be picked up at any VOCU branch or printed off from our website.

VantageOne is pleased to partner once again with Community Futures North Okanagan as the presenting sponsor for the 2023 Enterprize Challenge.

If you’re an emerging entrepreneur or the owner of a new business, Enterprize Challenge is your chance to learn from some of the best as you hone your pitch, polish your business plan and prepare for an exciting launch. Learn more

Learn more about our very own Amy Gillies, who has been a proud volunteer and mentor with The Enterprize Challenge since the beginning!

EnterpriZe Challenge from Community Futures North Okanagan on Vimeo.

 

Nominations are invited to fill two (2) vacancies on VantageOne Credit Union’s board of directors. Two (2) directors will serve 3-year terms, ending in 2026. Directors perform an important role in the credit union, especially in the shaping of policies and long-term objectives. To be eligible, candidates must be nominated by three (3) members or by the Nominating Committee. They also must be members, other than junior members, in good standing, at least twelve (12) months prior to the date of the Annual General Meeting, which is to be held on May 10, 2023.

Written nominations for the volunteer positions must be received no later than 3:00 pm, Friday, January 27, 2023.

Nominations Have Closed.

At VantageOne, we ar committed to keeping our members safe online by making security our top priority. We also want to encourage you to be vigilant in protecting your personal information.

Hackers and scammers steal billions of dollars every year from people who fall into their traps or don’t have proper security measures in place.

Here are some things you can do today to strengthen your cybersecurity:

Choose a strong password:
– Never use personal information such as your name, birthday, username, or email address. This type of information is often publicly available, which makes it easier for someone to guess your password.
– Use a longer password. Your password should be at least 8 characters long, although for extra security it should be even longer.
– Don’t use the same password for multiple accounts at different places including but not limited to: online banking, telecom website, utility bill login, email account login, streaming TV account etc. If someone discovers your password for one account, all your other accounts will be vulnerable.
– Try to include numbers, symbols, and both uppercase and lowercase letters.

IMPORTANT TIP – Make sure you are not saving your password in your web browser. Anyone that has access to your PC would have access to your online banking

Sign-up for Auto-Deposit for e-Transfers
– Make receiving money even simpler by registering an email address that associates with your account at VantageOne.
– When an Interac e-Transfer is sent to the email address, the funds are automatically deposited. There is no need to login to online banking and answer a security question to claim the funds!
– If you are sending money, and the recipient has signed up for Autodeposit, then their funds will be automatically deposited as well.
Learn more here 

Sign-up for Mobile Alerts to protect your account.
– Alerts are an easy way to keep track of your money and protect your accounts. Use them to receive automatic notifications by text or email when certain events happen or when changes are made to your online banking account.
Learn more here

If you own and operate a small business – we want to thank you!
You create jobs, diversify our local economy, and make the Okanagan a better place to live. VantageOne is proud to offer all the financial services you need.

Business owners are invited to drop in for coffee & treats and meet our team of local experts on October 19th from 8am to 4pm, at the North Vernon Commercial Centre, 5300 26th St.

Thank you to all small businesses from VantageOne Credit Union.
We look forward to seeing you at the open house!

Yours truly,

The Commercial Services Team
Amy, Bonnie, Dianne, Erik, Heidi, Kathy, Nadine, Tereasa
North Vernon Commercial Centre

Learn more about our team & services

From Sept. 20 to Oct. 11, members of the public can vote for their favourite among the businesses and non-profits nominated in all 15 categories.

The People’s Choice Award is sponsored by Total Restoration Services and for 2022, two People’s Choice awards will be presented – one for a business and one for a non-profit.

You can vote for free as many times as you want for as many businesses or non-profits that you want. If you would like to save some time, you can purchase votes to help raise funds.

The People’s Choice Award is raising funds for the Canadian Mental Health Association – Vernon and District.

Winners will be announced Nov. 3.

You can participate in the People’s Choice Award by clicking HERE.

Cash for Class!

Headed off to school? We have some great offers just for you AND some tips to help you have a smooth transition with all of your banking needs as you head into this exciting new chapter of your life!

Our promo for you includes:

Want to learn more or have questions? Connect with us for more information

*Limited time offer. Terms and conditions apply. Ask us for details.

VantageOne Credit Union is a co-operative financial institution, owned and controlled by our members. One of the fundamental principles of our credit union is democratic control.

Our members have a voice in setting the direction of the credit union through the directors that represent them and are invited to vote in director elections.

Our Board of Directors are like-minded community members who live, work and are invested in our communities, just like you!

We are pleased to announce our 2022 Board of Directors.

Learn more about our board here.

Election results for 2022 were shared in our Spring Newsletter.

2022 Statutory Holidays & Closures
for the Remainder of the Year

All branches and our Solutions Centre will be closed on:

  • Canada Day – Friday, July 1, 2022
  • BC Day – Saturday, July 30 & Monday, August 1
  • Labour Day – Saturday, September 3 & Monday, September 5
  • National Day for Truth & Reconciliation – Friday, September 30
  • Thanksgiving – Saturday, October 8 & Monday, October 10
  • Remembrance Day – Friday, November 11
  • Christmas –  Saturday, December 24 & Monday December 26 & Tuesday, December 27
  • New Year’s – Saturday, December 31 & Monday, January 2

Please Take Our Member Survey!

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

In our survey, we will be asking questions about your overall member experience, financial life stages, and important questions about community impact & ESG. 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 5 prizes of $50 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. Your feedback will remain anonymous if you do not wish to be contacted.

Length of the survey
The survey has 30 questions and may take approx 10-15 minutes. This survey closes on July 22nd.