Patronage Rebates

Patronage rebates were deposited into affected member accounts, and back into our communities, on June 25, 2020.


Future of patronage rebates:

We are proud to be one of only a few credit unions in Atlantic Canada that still issued rebates in recent years. That is why it was very difficult for Valley Credit Union’s Board of Directors to make the decision to discontinue patronage rebates. In keeping with our goal of always being member focused, these funds will now assist in the purchase and ongoing maintenance of new technologies to meet and exceed the needs and expectations of our current and prospective members. The decision to reallocate these funds was made well before the pandemic hit and is in no way related to COVID-19. The technological investments we have implemented recently or will be implementing over the next couple of years include:

  • Online appointment booking tool
    launched January 2020
  • Digital account opening and lending application software
    launched internally May 2020; self-serve member access scheduled to launch fall of 2020
  • Digital signature solutions
    launched June 2020
  • AI-powered chat feature on website
    scheduled to launch fall of 2020
  • New and improved website
    scheduled for 2022
  • New and improved online banking platform
    scheduled for 2022
  • New and improved CRM (customer relationship management) software
    scheduled for 2022
Our need to be competitive and relevant to new and prospective members is being carefully balanced with our commitment to maintain the service our long-time members expect. The board, management, and staff are committed to always doing what is best for the members of Valley Credit Union.
 

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