VantageOne Credit Union is committed to supporting our business members through this difficult time. We are pleased to announce that we are now accepting applications for the federal government’s Canada Emergency Business Account program for non-deferrable expense-based businesses (CEBA 3.0).

Program Eligibility:

  • The Borrower is a Canadian operating business in operation as of March 1, 2020.
  • The Borrower has a federal tax registration.
  •  For applicants with Cdn.$20,000 or less in total employment income paid in the 2019 calendar year:
    • The Borrower has a Canada Revenue Agency business number and has filed a 2018 or 2019 tax return.
    • The Borrower has eligible non-deferrable expenses between Cdn.$40,000 and Cdn.$1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.
  • The Borrower has an active business chequing/operating account with VantageOne Credit Union, which is its primary financial institution. This account was opened on or prior to March 1, 2020 and was not in arrears on existing borrowing facilities, if applicable, with the VantageOne by 90 days or more as of March 1, 2020.
  • The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.
  • The Borrower acknowledges its intention to continue to operate its business or to resume operations.
  • The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.
  • The Borrower must also agree to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

​​​​The Eligible Non-Deferrable Expense Categories are the Following:

  • Wages and other employment expenses to independent (arm’s length) third parties;
  • Rent or lease payments for real estate used for business purposes;
  • Rent or lease payments for capital equipment used for business purposes;
  • Payments incurred for insurance-related costs;
  • Payments incurred for property taxes;
  • Payments incurred for business purposes for telephone and utilities in the form of gas, oil, electricity, water and internet;
  • Payments for regularly scheduled debt service;
  • Payments incurred under agreements with independent contractors and fees required in order to maintain licenses, authorizations or permissions necessary to conduct business by the Borrower.

CEBA 3.0 Application Process

Businesses with annual payroll less than $20,000 during 2019 and eligible non-deferrable expenses for 2020 projected to be between $40,000 and $1.5 million, can apply via a 2-step process.

Step 1: Initiate an application through VantageOne

  • Log in to your Member Direct Small Business online banking
  • Click on Account Services
  • Then click on the CEBA button
  • Start your application for CEBA 3.0
  • IMPORTANT NOTES
  • Corporations – required to supply VantageOne with most recent T2
  • Sole proprietors & Partnerships – required to supply VantageOne with most recent T1
  • In the application in the screenshot below, please DO NOT hit NEXT, before you have submitted your documents to the EDC through the please click here link.

Step 2: Upload evidence of non-deferrable expenses via the Government of Canada’s CEBA website for verification.

To complete this application process, members will need to have:

  • a 9-digit CRA Business Number;
  • the ability to provide verifiable business information from their most recent CRA business tax filing (2018 or 2019); and evidence of eligible non-deferrable expensesOpens a new window in your browser. for 2020, like commercial leases, property tax statements or utility bills, to upload to the federal government’s website

More information is available on the following sites:

More information: https://ceba-cuec.ca/
Application: https://application-demande.ceba-cuec.ca/

Funding Timelines

Please be aware, the CEBA 3.0 version has more complexity in the application process and the actual processing time – from application to receiving funds takes more time. The Government of Canada has advised us to expect a 15 business day turnaround from when you submit your application.

Remember, the Commercial Department of VantageOne Credit Union is here to help. Please reach out to us for any support you require!

– The VantageOne Commercial Department

You can use our Night Deposit to deposit cheques, cash, confidential documents and pay bill payments. It’s easy! Watch this video to learn more…

 

 

This spring our staff were challenged to keep fit and have fun as part of the Physical Wellness component of our VanAction Wellness Program*. Over the course of five weeks, our staff were asked to keep track of their daily step counts via fitness trackers, their cellphones or other tracking methods and submitted them to our HR team to total up.

The challenge was met with great enthusiasm and determination, and even a few fun side competitions along the way with some of our more competitive staff. In total, our staff collectively walked 3,040km which is the distance from Vernon all the way to Sault Ste. Marie, Ontario!

It’s great to see our staff safely staying active and healthy and having fun. Physical activity is important for all of our health and well-being, especially now!

*The VanAction Wellness Program is a holistic program focusing equally on physical, financial and mental wellness throughout the year. And it’s another shining example of how VantageOne is continually striving to cultivate a healthy, vibrant and inclusive work environment where our employees have the opportunity to thrive!

Bananas? Milk? Bread? Whatever you put in your shopping bag gets you extra points. That’s because you’ll automatically receive 50% more reward points for every dollar spent to purchase groceries on your Collabria® credit card between May 1 and July 31, 2020.

You’re buying groceries anyway, so why not stock up on points at the same time? It’s just another way we’re helping our Members get ahead.

Learn more about the Terms and Conditions

This offer is available until July 31, 2020 on all Collabria consumer rewards credit card accounts (Cash Back, Centra Gold, FlexRate, World, Infinite, US Dollar, Travel Rewards Gold) and business rewards cards (No Fee Cash Back, Platinum Business Mastercard, Visa Infinite Business). During the promotional period, cardholders will receive additional (50% more) bonus reward points on every dollar spent on ‘Grocery’ merchant category. Classic, Student and Low Rate Business credit cards are excluded from this offer.

 

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It’s always important to be strategic about your finances. That means consolidating your balances, managing your financial health, and minimizing interest rates on multiple cards.

That’s why we want to offer you a special 5.9% annual interest rate on balance transfers to any VantageOne Collabria* credit card. By taking advantage of this special rate, you’ll get to:

  • Consolidate your balances and pay only one interest rate on balances
  • Save on annual fees from multiple cards
  • Enjoy this 5.9% balance transfer rate on as many balance transfers as your credit card limit allows for the next six months from the date of transfer

This offer is available until January 31, 2020. So why wait?

To view all credit card options and take advantage of this offer, click here.

Terms and Conditions

¹This offer is available until January 31, 2020 on all consumer and business credit card accounts, except the US Dollar card. During the promotional period, cardholders will be able to transfer balances to a Collabria credit card at the promotional annual interest rate of 5.9%. The US Dollar card is not part of this promotional offer. Please refer to your Cardholder Agreement for further details regarding Collabria cards that are eligible for this offer. You can also access this agreement to see what applies to the card of your choice.

BALANCE TRANSFER PROCESS: Balance transfers can be requested after the cardholder receives and activates their card. They can initiate a balance transfer via MyCardInfo (online banking), in their branch or by contacting Cardholder Services. The cardholder requires the destination biller/payee name as well as the account/card# associated with the account. The minimum transfer amount without promotional offers is $100.

BALANCE TRANSFER PROMOTIONAL OFFER: The promotional 5.9% annual interest rate for balance transfers applies for 6 months from the date of transfer and will be applied automatically. When the promotional rate ends, your standard interest rate will apply. The promotional balance transfer rate can only be used during the promotional period November 1, 2020 to January 31, 2020. This offer may be withdrawn or ended at any time without prior notice. This offer applies to consumer and business credit cards. The US Dollar card is excluded from this offer. Account credits on a credit card, which is the money the card issuer owes you, cannot be transferred as a balance transfer to a Collabria credit card.

²This promotional offer does not apply to transfers between Collabria accounts. Please continue to make your regular payments on transferred accounts until you receive confirmation that the transfer has been completed.

³In order to receive the promotional 5.9% annual interest rate for balance transfers, a minimum transfer amount of $500 is required and you can transfer as many balances as your credit card limit allows during the promotional period, as long as each transfer is $500 or more.  The minimum transfer amount without promotional offers is $100.

*To identify a Collabria-issued credit card, please check the credit card back; the issuer (Collabria) is always stated on the bottom left corner. If the credit card issuer is listed as Collabria, this card is not eligible for a balance transfer to another Collabria-issued credit card.

Collabria Financial Services Inc. (“Collabria”) is an independent entity from your credit union with no ownership interest in the other. If you choose to obtain Collabria credit card services through a referral from your credit union, it will receive compensation from Collabria.

®The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark and the circles’ design is a trademark of Mastercard International Incorporated.

The Collabria Visa Card is issued by Collabria Financial Services Inc. pursuant to a license from Visa. *Trademark of Visa Int., used under license.

 

 

There is nothing more important than the health and financial well-being of our members. We understand these are difficult times and feel that right now, it’s especially important to keep open lines of communication with our members.

Every response will be reviewed by our CEO and Senior Leadership team as we continue to provide you with an easy and comfortable way to share your thoughts and feedback.

We are all in this together and appreciate you letting us know how we can serve you best as we all move together into a phase of adjusting to a “new normal”.

Survey closes soon!

Take our quick survey its about 6 minutes long:

 

Our ATMs at the Vernon Main Branch location at 3108 33 Avenue are now envelope-less! Once you have finished entering your deposit, you can insert all of your cheques and/or cash at once then review and confirm and you are done.

Going envelope-less has the added benefit of saving paper and trees!

Stop by and check them out, our ATM vestibule at Main Branch is open from 6am to 10pm daily.

Apply today!

To help post-secondary students and recent graduates who will experience financial hardship over the summer due to COVID-19, the Government of Canada is launching the Canada Emergency Student Benefit through the Canada Revenue Agency (CRA) on Friday, May 15.

What is the Canada Emergency Student Benefit (CESB)?

The CESB will provide income support to post-secondary students who lost work opportunities due to COVID-19 and are not receiving the Canada Emergency Response Benefit (CERB) or Employment Insurance (EI). Eligible students will receive $1,250 per month from May through August 2020, or $2,000 per month for students with dependents and those with permanent disabilities.

Who is eligible?

Students are eligible to apply for the CESB if they:

  • are enrolled in a post-secondary education program leading to a degree, diploma, or certificate;
  • ended their studies or graduated no earlier than December 2019;
  • are high-school graduates who have applied for and will be joining post-secondary programs in the coming months; and
  • are Canadian students studying abroad who meet one of the above criteria.

How to apply and register for direct deposit?

VantageOne is working with the Canada Revenue Agency (CRA) to help members receive benefit payments faster and securely through direct deposit into your VantageOne account.

If you don’t have a VantageOne account, you can open one here.

To register for direct deposit through the CRA, you can sign up now through VantageOne Online or banking following these 2 steps:

  1.  Complete the online form to register for CRA direct deposit.
  2. Apply for the CESB benefit

Questions?

For questions regarding the federal government’s eligibility and application process for the CESB program, please refer to the Government of Canada’s CESB Page