FAQ

General

What is 1st Choice Savings doing about COVID-19 to help keep employees & members safe? Expand/Collapse

The health and safety of our staff and members is the utmost priority. Here are some of the precautions we are taking:

  • Increasing the frequency of in branch sanitation practices during business hours, including wiping down teller pods and frequently touched surfaces.
  • Increasing our janitorial and sanitation practices in addition to normal routines.
  • Working with staff to ensure that they have up to date information on preventative methods and encouraging them to stay home if they feel ill.

You also play a role in helping us keep our operations healthy and safe.  Here’s what you can do to help reduce the potential spread of COVID-19:

  • If you’re not feeling well or if you have recently travelled internationally, please avoid coming into a branch.
  • Make use of our online banking services, mobile banking app, or contact us by phone at (403) 320-4600.
  • Practice frequent handwashing and other hygienic practices.

Is my money safe? Expand/Collapse

The Credit Union Deposit Guarantee Corporation (CUDGC) guarantees the repayment of all deposits with Alberta Credit Unions, including accrued interest to the date of payout. This means that all your deposits with us are 100% guaranteed back to you, and your money is protected.

CUDGC is a provincial corporation established under the Alberta Credit Union Act.

For more information: Deposit Protection Brochure downloadable PDF

Branches and Banking

Is my branch closed? Expand/Collapse

Stay up to date with branch closures and how we can help you by checking our Branch Closure page.

How can I bank if my branch is closed? Expand/Collapse

As much as possible, our staff are still able to assist you remotely, we also have options to bank online/mobile.

Please see our Branch Closure page for more information.

Payments and Loan Deferrals

Is 1st Choice offering any sort of loan deferrals? Expand/Collapse

Yes we are, please see our Payment Deferral page or call your branch for more information and assistance.

Who qualifies for payment deferral? Expand/Collapse

We will evaluate each case individually on an as-needed basis.  Please contact your branch for more assistance and information.

Should I skip a payment? Expand/Collapse

Our skip a payment and loan deferral programs are intended for financial difficulties or emergencies, it is not a payment forgiveness.  If you can make a payment, you should to stay on top of your debt and reduce your interest costs in the long run.

What happens if I skip or defer a payment? Expand/Collapse

When you defer or skip a payment, you are deferring the payment to a later date.  The interest will still accumulate and be added back to the outstanding balance at the end of the deferral period. 

For personal loans, your payments will remain the same, but the amortization period of the loan will increase based on the number of deferred payments. 

Payments on residential mortgages will also remain the same for the remaining length of your term and will be recalculated when you renew your mortgage.

Skipping or deferring a payment is only applicable to the principal and interest payments owed to 1st Choice. Things like property taxes, credit protection, utilities etc., are not included.

How to I skip or defer a payment? Expand/Collapse

For credit cards, cardholders can call our Contact Centre at 1-855-341-4643.

For all other payment deferrals, please contact your branch to start the process.

What products qualify for payment deferral? Expand/Collapse

Please see our Payment Deferral page for more information.

Information for Commercial / Agriculture members

Payment Deferrals Expand/Collapse

For our commercial, small business and agricultural members, please contact your account manager for more information or call 403.380.1932.

CRA and/or CERB Questions

I’ve received a CERB overpayment, what should I do? Expand/Collapse

If you received a CERB overpayment, you will need to return it back to the government of Canada. If you are not sure if you have been overpaid, note that the CRA will send you a letter indicating that this has happened.

To return or repay a CERB payment, you can do so by either:

1. 
Payments issued by Direct Deposit:

For payments received through direct deposit, you will need to contact your branch and have them initiate the return for you.  

2. Returning the cheque, if you have not yet cashed it to:

Public Services and Procurement Canada Imaging and Receiver General Operations Directorate
P.O. Box 2000
Matane, Québec
G4W 4N5

3. Sending a payment to the CRA if you are unable to return the original cheque or you received a direct deposit. Payments should be made out to “Receiver General for Canada”.

Include the following with your payment:

  1. That it is a “Repayment of CERB”.
  2. Your Social Insurance Number (SIN) or your Temporary Tax Number (TTN).

Mail your payment to:

Revenue Processing
Sudbury Tax Centre
1050 Notre Dame Avenue
Sudbury ON P3A 0C1

How do I set up CRA direct Deposit? Expand/Collapse

To get set up for direct deposit, please see our CRA Direct Deposit FAQ.

 

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