BBQ familial annuel Fête du Canada au Parc Kent

Le Carrefour Jeunesse Emploi de Côte-des-Neiges (CJECDN) est un organisme bbq2015communautaire à but non lucratif qui aide les jeunes de 16 à 35 ans avec leur employabilité, orientation de carrière, esprit d’entreprise et d’autres objectifs de communauté.

Au coeur du quartier Côte-des-Neiges, nous allons présenter notre BBQ annuel pour les jeunes du quartier et de la région métropolitaine de Montréal. Nous attendons plus de 3000 à 5000 résidents du quartier qui se rendront à l’événement, incluant les organismes du quartier et nos élus.

Mercredi le 1er Juillet 2015
Parc Kent
14h00 à 20h00

Voici une vidéo qui décris cet belle journée.

8 Tips To Deal With Bank Fees

Do you ever wonder how the big banks continue to make billions of dollars, even in the ratesmost difficult economic times?

While they have made millions in interest from various personal financing tools (i.e., credit cards, loans and mortgages), investing in the markets and holding assets in the form of real estate, they easily generate profits thanks to bank fees. From debit purchases to overdrafts, banks attach fees to various products and services with the objective of making more money annually. Unfortunately, some clients are not aware of the fees that continue to drain their bank accounts.

Below are eight tips that will allow you to reduce the amount of bank fees that are debited from your account and will allow you to save more money on a month basis.

1. Find a better account

If you discover that you cannot afford to pay the fees that come along with your current account, then it is time to find another account and/ or bank. There are banks that offer low or “no-fee” accounts depending on what your needs are and the amount of money you have to deposit. Once you have assessed your needs (in terms of the amount of transactions and savings goals), you can consult the Financial Consumer Agency of Canada’s website where there is an account selection tool. This tool lists the various accounts and banks which you may want to switch to in the hopes of paying less in fees.

2. Reduce the number of transactions

The majority of banks attach fees to the number of the transactions that they perform for clients. If you are big fan of using your debit card for everyday purchases, maybe you should consider going back to using cash. Even though the fees are minimal, they can add up. According to recent reports, all of the Canadian banks are expected to increase their fees on debit purchases made by clients.

3. Reduce trips to bank machines associated with other banks

Banks are well known for their “convenience fee” that they charge individuals for using a bank machine, when the machine belongs to another bank. Although it’s easier and less time-consuming to use any bank with an automatic banking machine, it can be costly. The best way to avoid such costs is to withdraw enough money until you have the chance to get to your own bank. Another option is to open an account at the nearby bank where the fees are affordable.

4. Keep a minimum balance

Not knowing how much money you have in an account can cost you. Some banks can insist that you keep a minimum balance in an account or be faced with paying monthly fees. As a result, you have to keep track of the amount of money in that particular bank or transfer it to a “no-fee” account.

5. .Ask for senior accounts

Turning 60 soon? Some banks offer specific accounts that are free, or available at a reduced fee. However, you have to inquire about them at your bank. Be prepared to prove that you are, or turning 60, in order to be eligible for those accounts.

6. Obtain overdraft protection

Thinking about “insufficient funds” (NSF) charges every time you write a cheque? NSF charges can significantly threaten the amount of cash that you have in the bank on a monthly basis. In order to avoid the heavy fee on a regular basis, consider obtaining overdraft protection. Overdraft protection is a form of insurance that will allow you to pay a small fee in advance to avoid paying a larger NSF charge. Some financial institutions will apply the overdraft charge only in those months when you actually use the overdraft protection that you have invested in.

7. Go online

If you’re able to go online via a laptop, tablet or smart phone, attempt to do your banking online. Instead of going to a bank, why not conduct transactions by yourself.

8. Read your monthly statement

Are you aware of the fees that you pay per month? It is recommended that you examine the statement to see if you have been charged any extra fees and how much. Furthermore, be vigilant in terms of any new fees that you may be able to contest or ask to be waived.

What Should Know About A Personal Line of Credit

When a bank provides a client with a personal line of credit, it does so with the understanding that the funds will be used for various reasons. Some individuals, the money will be used to finance their latest spending spree or be a source of insurance when it is needed. Regardless of how the money will be spent, the bank will always profit from offering the financial product.

Royalty-Free Stock Photography by Rubberball.comAs potential or current user of a personal line of credit, do you know how to best manage it without paying extra fees and interest? Below are 9 basic things that you should know before spending a dollar from the source of financing.

1.    Lending range

Banks have various lending ranges that clients can select from for their needs.   Although clients can apply for a maximum amount of money, banks do have the final say of the amount that will be available.   Using clients’ credit reports and other analysis tools, banks will decide the appropriate lending range to insure that the credit is repaid in a timely fashion.

2.    Interest rates

Interest is charged to clients who select to access money from their line of credit.  Similar to mortgage rates, interest rates can be fixed or variable.   It is best to discuss with a bank representative which option fits your ability to repay the money and not go into further debt.  Usually, interest rates for lines of credit are usually lower than they are for credit cards (even low-rate credit cards), personal loans or other short-term loans.

3.    Fees

When using a personal line of credit, clients must keep in mind the associated fees attached to the source of funds.  To generate more profit, banks may charge an unused line fee, often an annualized percentage fee on the money not withdrawn.  (Ask your bank representative to explain all applicable fees that comes with your line of credit.)

4.    Type of personal line of credit

Personal lines of credit can be classified as either secured or unsecured.   Secured personal lines of credit are backed with your property or investments typically results in a lower interest rate and higher credit limits.   Unsecured lines are not supported by any type of collateral and thus resulting in a higher interest rate.    Banks will allow clients to select which type is best for them given their financial situation.

5.    Repayment options

Unlike a personal loan or a mortgage, clients must repay the money (plus interest) that they have used for the line of credit.   For example, if a bank grants a client a line of credit of $5000 and the client utilizes $2000,   the bank should expect $2000 plus interest to be back in coffers in a pre-determined period of time.  Clients must make at least a minimum payment on their balance every month.

6.    Re-applying

Banks have different policies when it comes to re-applying for a line of credit based on a client’s credit history.  If there are not any issues with client’s credit history, banks will waive the application process and make the lending range available immediately.

7.    Monthly statements

Whether it be by mail or on the web, clients can keep track of the amount of money that is available via the line of credit and how much they owe.

8.    Insurance

In the event that clients die or become disabled, there might be a need for insurance to cover their line of credit.   This maybe the case for clients that have a large unsecured line of credit that have not being paid down in a timely fashion.

9.    Negotiation options

When it comes to obtaining the financial product, everything is negotiable.   Whether it be lending range, interest rate or term, individuals have the power to dictate what they need from a personal line of credit due to the fact there are various financial institutions to obtain the source of credit.    All that this required for a successful negotiation is knowledge of what is available elsewhere and knowing what is required to fit respective needs.

A personal line of credit is an alternative source of money that banks do not offer for free.  It is the client’s responsibility to manage this specific source of funds to ensure that the minimum amount of interest and fees are paid on time.

What is a Mutual Fund?

This is one of our most common questions. This video will briefly explain what a mutual fund is and how it works. We’ll show you how investing in a mutual fund with Credential Asset Management Inc. at Synergy Credit Union can be beneficial for you – in both the short-term and long-term. It’s never too soon or too late to start saving.

Qu’est-ce qu’un CÉLI?

Par définition, il s’agit d’un compte d’épargne libre d’impôt. Mais plus concrètement, qu’est-ce que c’est?

Il s’agit d’un compte dans lequel l’impôt n’interfère pas, ni de près, ni de loin. Et ce tant à la cotisation que pendant sa durée ou à son retrait.

C’est donc dire que ce compte ne donne pas droit à un crédit d’impôt à la cotisation et les intérêts ou gains encourus sur le compte ne sont pas sujet à l’impôt. Au moment du retrait, le plein montant vous sera versé, encore une fois, exempt de toute taxation.

Cela veut donc dire que le CÉLI tient d’avantage du régime fiscal plutôt que du compte. En effet, tout comme un REER, celui-ci peut être investit dans une multitude de véhicules de placements tel que dépôt à terme, fonds communs de placements, titre de valeur mobilière, etc.

Les cotisants peuvent donc investir un montant cumulatif de 10 000$ par année

Talk With Our Kids About Money Day

The “Talk With Our Kids About Money” Day 2015 is fast approaching. The event is taking place Wednesday April 15th.

We encourage members of the media to participate in “Talk With Our Kids About Money twokamDay.” There will be opportunities to do stories, interviews, panel discussions, articles, and more.

The program encourages Canadians to have conversations with youth about money and personal finance. The annual event takes place the third Wednesday in April, this year, April 15, with a “Home Program” for families and a “School Program” for Grade Seven students and teachers. Both parents and teachers can visit the online hub, http://www.talkwithourkidsaboutmoney.com, free for anyone to access, and updated with resources and curriculum ideas.

Some of the Launch Activities that will be taking place in Québec that could attract media coverage on the “Talk With Our Kids About Money Day” on Wednesday April 15th are:

  • At LEARN Québec in Laval – from 9:30 am to 11:00 am
    2030 Dagenais Blvd. West, Laval
    A Videoconference involving teachers and students in virtual classes at several remote sites across the province. Seven sites will participate in this activity. The presenter will be located at the site in Laval. Brian Smith Vice-President Quebec Operation and Financial Literacy expert will be having a conversation on money topics and will be inviting students to participate in a fun and engaging activity. With this activity we are hoping to reach out to as many students and teachers as possible on the TWOKAM Day on Wednesday April 15th. Sonia Zahabi, Branch Manager representing BMO will be joining Brian Smith Vice-President, Quebec for the Canadian Foundation for Economic Education for this activity.
  • At École secondaire La Voie CSDM – 12:30 pm to 1:30 pm
    6755 La Voie Street, Montreal
    An Open House activity to celebrate Talk With Our Kids About Money Day. The student population and teachers will be invited to join in the conversation.
  • At Carrefour jeunesse-emploi Côte-des-Neiges – 5:00 pm to 7:00 pm
    6555 chemin de la Côte-des-Neiges, Montreal
    An Intergenerational Activity will take place involving participants from different generations, seniors, parents and youth. They will be encouraged to share their experiences and stories on money topics.

If you are interested or if we can help in any way, please contact us and we will be pleased to assist you.

Brian Smith
Vice-President – Quebec Operations
FCEE
514-817-3941
bsmith@cfee.org

Jacynthe Dallaire
Provincial Coordinator in Quebec
Talk With Our Kids About Money
FCEE
514-278-8789
jdallaire@cfee.org