By Tim Parchewsky Manager, PlanWright Financial, Wealth Consultant Low oil prices and the COVID-19 Virus have caused investors a lot of stress over the last few weeks. Periods of market volatility are not new to long term investors. These ups and downs can wreak havoc on our portfolios and emotions. However, history has shown that…
Leadership in Times of Crisis
by Doug Griffiths This has been prepared as a source of guidance and support for communities facing an emergency that affords limited time and capacity to prepare and react. This advice has been specifically created for community and municipal leaders, especially those in smaller communities where capacity, expertise, and time may be limiting factors. This document…
Letter from our CEO regarding COVID-19
To our valued members, Encompass Credit Union is closely monitoring the evolving situation with respect to the COVID-19. We are continuing to review and monitor information from the Provincial Public Health Authority as well as both the Government of Canada and Government of Alberta. We have met with our lenders to discuss the potential impact…
What Can You Claim for Personal Expenses on Your Taxes?
As a small business owner, you might be wondering what you can claim as personal expenses on your taxes this year. Here’s what you need to know when it comes to doing your taxes for your business or side hustle. Expenses You Can Claim The CRA defines business expenses as certain reasonable costs that are…
Investing on Your Own vs. through a Financial Advisor
When it comes to investing in the stock market, many people debate whether it’s worth doing the investing themselves or through a financial advisor. Let’s take a look at the pros and cons to these methods of investing to determine which one is best for you. Before You Begin Before you begin considering how you’ll…
Estate Planning Make the most of your funds with a budget
Estate planning You don’t have to be an eccentric billionaire to need to organize your estate. An estate plan is important to ensure that financial matters are resolved quickly, and family and loved ones don’t end up losing much of what you’ve acquired through taxation. Talking about oneself or aging parents passing away isn’t exactly…
5 ways to be smarter with smartphone apps
As the smartphone market matures, we’ve all come to depend on apps that make our lives easier and more fun. We have instant access to news, weather, shopping, games, and social networks. With new apps appearing all the time, it’s easy to get caught up in the moment, and download something offered to us online….
When RRSPs are the best choice
While the decision to use a Registered Retirement Savings Plan (RRSP) has been made more complicated over the last ten years by the popularity of the Tax-Free Savings Plan (TFSA), it is still an important savings tool. The TFSA allows an individual to contribute after-tax dollars into an investment and withdraw funds with no tax…
TFSA vs. RSP: What’s Best for You?
As a new generation of Canadians begins dealing with the tricky field of finances, a common question we hear is “What kind of account should I have”? At Encompass Credit Union, we have a wide array of plans and programs for money-savvy Canadians and the most popular for retirement or tax deferral are TFSA and…
Five ways cybercriminals try to steal your personal info
Identity theft is something you’ve probably heard about on the news. But what does it really mean, and what is the risk to you, your family, or your business? Identity theft is when someone uses your personal information without you knowing about it. They may try to get your basic information, such as name, date…
Cyber safe tax filing
Taxes: about as much fun to blog about as to calculate, and as essential to a functioning modern society as high-speed internet. And speaking of which, one of the easiest ways to file one’s taxes is through the Canada Revenue Agency’s MyAccount system. You can even find your T4, T5 and RRSP contribution slips there. Accessing MyAccount…
How to Pay off Your Debt After Christmas
As joyful as the holidays may be, it can be easy to rack up credit card charges and debt. If you’re unsure about how to pay off your holiday debt, follow our tips below to get started! Set Your Goals Set realistic goals for yourself and focus on paying down your credit card with the…
When a Term Deposit (GIC) is a smart investment choice
Investing your money is important. Some people are more risk tolerant than others, depending on how they view investing, or perhaps even due to the stage of life that they are in. If you’re planning on going into a long term investment with a mutual fund, or RSP, the ups and downs of the market…
Your Budget – Death by a Thousand Cuts
By Jess McEvoy, CIM, PFP When we create a personal budget, we usually start with our take-home pay and then subtract expenses. For simplicity’s sake, we lump as much as we can into as few categories as possible. We have categories like mortgage/rent, food, vehicle expenses, entertainment, utilities, gas, and maybe one or two others….
Credit unions work for Albertans – why this matters today more than ever
Credit Unions of Alberta’s Ian Burns shares his thoughts on how credit unions work for Albertans Albertans are incredible people. Over time we’ve built great industries, institutions and communities, with a standard of living that for many years has been a lure for entrepreneurs and anyone who dreamt big. And we did it by working…
What we can learn about finances from Christmas movies
By Kelly “The angry elf” Clemmer, Encompass Marketing Ok, it’s Christmas time, and here you are, reading a financial institution’s blog. Maybe you’re just taking a minute away from the family or your drunk uncle talking about politics… either way, there’s something that we all can learn, financially (when in Rome) from your favourite Christmas…
How to spot misleading info online and what to do about it
The case of the Misleading Meme With all the information that’s available online, it’s inevitable that some of it will be wrong. Sometimes it’s a case of inaccurate facts, sometimes it’s opinion, satire or parody, and other times, it’s a case of deliberate attempts to mislead or influence public opinion through alternative media. Either way,…
Top 12 Christmas Destinations (That You Can Afford!)
Wearing 5 layers of clothes? Muddy footprints by the door? Spending your morning shoveling the sidewalk? Winter is here, but that doesn’t mean you have to be! Here are just a few of the best affordable winter vacations this season. Florida Keys This chain of islands connected to the mainland gives you all the benefits…
5 ways to protect your privacy on a new smart device
Whether it was on your wish list, or you gifted one to a family member, chances are someone in your household received a new device that connects to the Internet. While connected devices (also known as “smart devices”) are fun and make our lives easier, they also provide opportunities for hackers to access personal and…
Black Friday and Cyber Monday Top 10 Fraud Tips
It’s Holiday Season for the bad guys too! But not the way you might think. They go into scam-overdrive mode. Black Friday and Cyber Monday are the busiest on-line shopping days and the bad guys are planning to get rich with your money. So, here are the Top 10 Fraud Alert Tips Never click on…
November is Financial Literacy Month
It’s really easy to feel overwhelmed or bogged down by that stormy cloud that hangs over one’s head when it comes to personal finances. Most of us are not accountants, and don’t have dreams of spread sheets and flying numbers, to most of us, that sounds like a nightmare. November is financial literacy month, and…
5 Easy Ways Young Adults Can Start a Side Hustle
Everybody dreams of starting their own business and being financially independent. This is a fantastic goal that the Encompass Credit Union team is happy to help with, but there’s no better way to make your dream a reality than starting early. If you’re a young adult looking to be your own boss, here are just…
Encompass accepting community grant applications for 2020
Encompass Credit Union is currently taking applications for its Community Social Responsibility Investment Program until the end of November. The annual community grant funding allows for up to a maximum $10,000 grant for a capital project in 2020. The program was designed for larger requests that would fall outside of the usual requests from minor…
A local success story, Jay and Sam Robinson
For Jay and Sam Robinson, the local Credit Union helped them realize their dream. Over twenty-five years ago, Jay and Sam wanted to start their own business, but major financial institutions were not interested in funding them. The local Wainwright Credit Union, now Encompass Credit Union, took a chance on the entrepreneurs, and lent them…
How we can work together
Cyber defence is a team sport. Government, industry, academia, and civil society must all work together to strengthen Canada’s cyber security. Canadian cyber systems, inside and outside of government, hold valuable information that is critical to our health, our economy, and our security. Those systems are targeted by threat actors. We need to work together…
