Are you being watched?

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JANUARY2006 White Rock/South Surrey Chamber of Commerce Business Excellence Awards

JANUARY 26, 2006

MARCH & APRIL2006Surrey Delta Immigrant Services Society Cultural Diversity Awards for Business

MARCH 22, 2006

Port Moody Festival of the Arts Events will be held at the Port Moody Arts Centre 2425 St Johns Street, and throughout Port Moody

MARCH 31 - APRIL 9, 2006

MAY2006Ridge Meadows Home Show Planet Ice 22751 Haney By-Pass, Maple Ridge

MAY 5 - 7, 2006

New Westminster Heritage Homes TourA tour of homes throughout the New Westminster community

MAY 2006

Spirit of Community Awards Hosted by the Society for Community Development in Coquitlam

FALL 2006

Upcoming community events

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printed on 100% recycled post consumer paper

You are invited to attend the Westminster Savings

Credit Union Annual General Meeting on Wednesday,

April 26th, 2006 at the Douglas College Performing

Arts Theatre, 700 Royal Avenue, New Westminster.

Registration begins at 7:00 p.m. and the meeting will

be called to order at 7:30 p.m. For more information

call 604 517-0100.

Annual General Meeting official notice

MEMBER SERVICE CENTRE HOURS Monday to Friday 8:00 - 8:00 | Saturday 9:00 - 4:00

BRANCH HOURS Monday - Thursday 9:30 - 5:00Friday 9:30 - 6:00 | Saturday 9:30 -3:00

Branch locations and hours

All branches and administrative offices will be closed

on the following days in 2006:

JAN 2

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2022

13

57

APR

MAY

JUL

AUG

SEP 24

79

1113

2526

1

OCT

NOV

DECJAN

Labour Day, Saturday

Monday

Thanksgiving Day, Saturday

Monday

Remembrance Day, Saturday

Monday

Christmas, Monday

Tuesday

New Year’s Day, Monday

New Year’s Day, Monday

Easter, Friday

Monday (All branches will be open on Saturday, April 15th)

Victoria Day, Saturday

Monday

Canada Day, Saturday

Monday

B.C. Day, Saturday

Monday

2006 branch holiday closures

Member Service Centre

604 517-0100 or 1 877 506-0100 outside the Lower Mainland

www.wscu.com

We’re preparing to launch our new and exciting

youth program. The focus of this initiative is to help

young people become more financially and socially

responsible, goals that are closely aligned with our

corporate values. We have teamed up with PowerPlay

Strategies Inc. (PPS), specialists in creating engaging

educational programs for youth.

Building on the success of our awards program, we

have decided to call the new initiative “Youth in Action”.

In addition to offering our annual awards of $18,000

to local youth, the expanded program will allow us to

recognize the achievements of youth in a variety of

other ways as well.

Twice a year, Junior Members will receive a Youth

in Action newsletter. It will include information about

money management for young people, as well as

challenges to take part in. We’ll have lots of prizes, such

as a $500 RESP, so watch your mail for more information.

We are also launching a school-based program

whereby schools will be invited to participate in

Introducing our new youth program

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Westminster Savings Credit Union is committed to

helping the communities in which we live and work.

To date, the credit union has contributed over

$2 million dollars back into our communities through

sponsorships, donations, scholarships, and volunteer

efforts. In addition, the Westminster Savings

Foundation continues to grow, funding projects and

events for numerous non-profit groups. Throughout

the year, Westminster Savings Credit Union is involved

with many community events – here’s just a few that

we are supporting in 2006:

Belong

CLOVERDALE COMMUNITY BRANCH18722 Fraser Highway (Opening 2006)

LANGLEY COMMUNITY BRANCH 20831 Fraser Highway (Opening 2006)

AUSTIN COMMUNITY BRANCH1101 Austin Avenue

SUNWOOD SQUARE BRANCH3025 Lougheed Highway

SHAUGHNESSY STATION BRANCH2850 Shaughnessy Street

NEW WESTMINSTER COMMUNITY BRANCH601 Sixth Street

NEWTON COMMUNITY BRANCH7488 King George Highway (Closed on Mondays)

WHITE ROCK COMMUNITY BRANCH 1608 152nd Street (Closed on Saturdays)

MAPLE RIDGE COMMUNITY BRANCH22565 Lougheed Highway

LANDMARK BRANCH20201 Lougheed Highway

COMMERCIAL SERVICES WS LEASING LTD.604 528-3803 604 528-3802

What is Spyware?

Spyware is software that appears as an advertisement, collects personal information or changes the configuration of your computer, without obtaining your consent.

What are some of the indications that my computer is infected with Spyware? • You see pop-up advertisements, • Your computer is slower than usual

even when not on the Internet • Your computer crashes more frequently • A new toolbar is added to your browser • Your Internet homepage changes by itself

and you cannot get rid of it

How do I prevent Spyware from infecting my computer? • Make sure your software is updated on a regular basis. This will ensure that you have the

latest security updates on your computer. • Adjust your Internet Explorer security settings to medium or higher. This determines how

much information you are willing to accept from a web site. • Use or install a firewall to help defend against hackers. • Be vigilant when downloading from the Internet. Make sure you read all security warnings. • Install anti-spyware software.

How do I get rid of Spyware? • Download a Spyware removal tool and use it to scan your computer for spyware and other

unwanted software. • Review the files that the tool detects as spyware, and remove them from your computer.

For more information and tips for dealing with Spyware, visit www.microsoft.com. For more information about any of these events,

please contact Nicole Eich, Community Relations and

Event Coordinator, at 604 517-0100.

New look

As you’ve noticed, your newsletter has received a

facelift and taken on a whole new look.

Based on your feedback from a series of surveys

and focus groups, we are launching a newly formatted

newsletter. You told us that you want a newsletter that

provides expert opinions, tips and the latest news.

The new format has a better layout, is easier to read

and has a much more contemporary look.

The newsletter will be published four times per year

and is your source for Business, Wealth Management,

Product and Community related information.

We hope you enjoy the revamped newsletter

and please feel free to send your feedback to

marketing@wscu.com.

Harman Phangui (left), Karen Somar (centre) and Caelen James (right) display their money management systems.

separate classroom challenges, relating to financial

and social responsibility.

In late 2005, we conducted a pilot program at the

Roots and Wings Montessori School in Surrey. The

program was a success, and feedback from the

students was fantastic. When asked why the program

is beneficial to young people, student Caelen James

reported, “It’s important to grow your money. By

investing you’ll have lots of money when you grow up.”

If you are not a Junior Member, but would like to

receive the Youth in Action newsletter, please call

Don Liebich, Manager, Product Development, at

604 517-0100.

wealth managementinvestment accounts

communityyouth in action scholarshipsMt. Kilimanjarosponsorship

business servicesbusiness internet express

news and eventscommunity events

products and servicesyouth in actionbranch locations

JAN UARY 2006V O L U M E 3 0 I S S U E 1

1397 proof #3client: WSCUproj: Money Matters Winter 05date: Dec 5/05

trim: 20.125 x 10.5”quantity: 58,000 Approved:

CYANYELLOW

MAGENTABLACK

C OV E RB A C K C OV E RF O L D S I N S I D E

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There are many different options available, depending on your stage in life. If you’re young and just starting out, consider the Pay Day Plan. This RRSP enables you to make small, regularly scheduled deposits to your RRSP and convert the savings into a registered term deposit once sufficient funds have been accumulated. “Although we may at times be struggling with current expenses, my husband and I realize the importance of investing in our future while we’re still young,” says Jennifer, a Westminster Savings Credit Union member. “We want to contribute to our RRSPs whenever we can – even if it’s only fifty dollars per month… every little bit counts and we

won’t be scrambling when we’re closing in on our retirement.” If you’re close to retirement, but want to make the most out of your savings, think about our new Super Climber RRSP. This product has a five year term with rate increases over the course of the term. This non-redeemable product would be a great investment if you’re looking to increase your investment over a period of five years. These are a couple of the products that we can offer you, there are many more. Don’t forget, the RRSP contribution deadline for 2005 is March 1, 2006. Drop by your branch and learn more about what RRSP options are available before it’s too late.

At Westminster Savings Credit Union we provide

results, not a run around; success, not stress;

answers, not apologies; loans, not lip service.

It’s important to plan for the future and set aside

money so that you will have the retirement that you

desire. But, deciding where to invest your money can

be confusing. Should you put it into a non-registered

account or into an RRSP? Let us help you figure

that out.

The advantages of investing in RRSPs:

• Tax is deferred until the funds are withdrawn.• When the funds are withdrawn, they are treated as

income and you are taxed at the marginal tax rate at

the time of withdrawal.• You receive a tax deduction. For example, if you

invest $15,000 into your RRSP this year, you could

be eligible for a tax savings of as much as $6,975,

assuming the highest marginal tax rate. • The tax savings from your RRSP contribution can be

invested into a non-registered account or used to pay

down your mortgage or other debt.

The advantages of investing in a non-registered investment account:• Capital Gain income is deferred until the investment

is sold. No tax is payable until the investment is sold.• Any profits earned will result in capital gains. Capital

Gains are only taxable on 50% of the gain.

Business Express Internet

Introducing Westminster Savings Credit Union’s new online business banking solution – Business Express Internet. This is an online banking tool designed specifically for businesses to better manage day-to-day banking needs. Business Express Internet allows you to access complete information about your business banking account at anytime. By signing up for this service, you can take advantage of many features, including:

• Setting transaction limits • Allowing multiple user access with individual

limits and permissions • Online bill payments • Electronic Funds Transfer • Account information and transaction activity • Audit trail

“With the ability to view multiple business memberships with one sign-in, customize access and permission levels for multiple employees, and the ability to pay bills, transfer funds and file government remittances, our business members really appreciate the convenience, flexibility and security that Business Express Internet provides,” says Lou Simonetti, Cash

Management Officer, Westminster Savings Credit Union. “This service will provide you with the tools necessary to improve your business processes. It will also assist in your daily decisions by offering a convenient and timely method to access real-time banking information.” If you have a business account and would like to access your account online, call our Member Service Centre at 604 517-0100 and one of our representatives will sign you up.

4

Life Happens…It’s time to get ready

3

Just once wouldn’t you like to sit with someone

who is as good at their job as you are at yours? If you

want to meet that “certain someone” come into your

branch and speak with one of our Financial Planners.

They have the knowledge and access to resources

to provide you with advice on the best options for

your unique situation. If you listen closely, you can hear

the future call.

Mt. Kilimanjaro Sponsorship

Simple and affordable payroll solutions – it’s easier than you think

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

0

RRSP

RRSP refund

Non-registered account

$795,466

$484,849

$295,442

$187,052

$482,494$415,672

$1,077,442

$2,474,719

$2,988,603

$1,280,315

$1,113,623

$1,874,979

15 years 25 years 35 years

Reinvesting tax refunds into a non-registered account

This chart shows the after-tax values in 15, 25 or 35 years between the two options. It assumes a $15,500 annual contribution; 8% annual market appreciation; 45% marginal tax rate (MTR) during contribution and 35% MTR upon redemption.

Reinvesting tax refunds into a non-registered account

While you’re young enough to read this...

Doyouhavebigplansforretirement?Wouldn’tyouliketoretireandknowthatyouwillhaveenoughmoneytolivecomfortablyinyourgoldenyears?Ifyou’renotsaving

forthefuture,it’stimetostopprocrastinatingandtakeaction.

We’d like to recognize the achievements of

outstanding young people who have contributed to

improving their community. The Youth in Action

Awards are open to graduating high school students

who are intending to pursue post-secondary education

on a full-time basis. Westminster Savings offers nine

awards of $2,000 each to students attending schools

in New Westminster, Ridge Meadows, Surrey &

White Rock, TriCities, and Langley. Credit Union

members attending school outside these areas are

also eligible to apply.

“Volunteer work is immensely important for young

people to become involved in”, says 2005 award

recipient June Lam. “It’s important to give back

to the communities which have given us many

opportunities, and volunteering offers something that

cannot be learned or gained anywhere else.”

Past award recipients have been dedicated to their

communities and volunteer with hospital visitation

programs, literacy programs, food banks, and ecology

groups, to name a few.

“We’re pleased to be able to offer scholarships to

deserving students, not only for their academic

achievements, but also in recognition of the great

work that they are doing in their communities. It’s

amazing each year to see the range of volunteer

work that is being done by these youth,” says Nicole

Eich, Community Relations and Event Coordinator,

Westminster Savings Credit Union.

The deadline for submissions is April 3, 2006,

and winners will be announced at their respective

graduating ceremonies. Further information and

application forms will be available by mid-January at

all Westminster Savings Credit Union branches, local

high schools and online at www.wscu.com.

In February 2006, twenty people with developmental

disabilities along with their support climbers will climb

Mt. Kilimanjaro. Their goal is to promote inclusion and

profile community living. Westminster Savings Credit

Union is a proud sponsor of the Climb for Community

Living – Mt. Kilimanjaro 2006, a joint initiative of the

BC Association for Community Living (BCACL) and

sixteen partnering member associations from across

the province. The Credit Union has helped to partially

sponsor three of the climbers who are from the

New Westminster, White Rock and TriCities areas.

“We are delighted to receive support from

Westminster Savings,” says Laney Bryenton,

Executive Director of BCACL. “Such sponsorships will

help BCACL to ensure that children, youth and adults

with development disabilities can take their rightful

place in schools and workplaces, and can participate

as full citizens in our communities. The opportunity

to participate in this expedition has been a life-altering

experience for our climbers. They are learning the art

of fundraising, public-speaking and team building as

they work together to achieve this dream, while taking

a leadership role in promoting inclusion in their

communities.”

For more information, please visit www.bcacl.org

or call 604 875-1119.

Youth in Action Awards: Scholarships for Outstanding, Community-Minded Students

I N S I D E F R O N T C OV E R I N S I D E C E N T R E I N S I D E F O L D S I N

To give our business customers access to an even wider array of innovative solutions, Westminster Savings Credit Union has partnered with ADP,

Canada’s leading provider of outsourced business administrative solutions, to help companies of all sizes efficiently manage their payroll requirements.

Services include payroll, human resources management, time and labour management, occupational health and safety, comprehensive outsourcing and consulting services.

For more information and to get in touch with an ADP Canada sales associate, call our Member Service Centre at 604 517-0100, or drop by your branch for more details.

Efficiently manage payroll requirements for companies of all sizes.