Modification or Replacement of Existing Products or Services

Prospera, Coast Capital and Sunshine Coast Financial are part of the Coast Capital Savings Federal Credit Union family of brands (CCSFCU). All policies, agreements, terms and conditions are applicable across the family of brands.

Documented Procedures

Overview

CCSFCU has specific procedures and timelines in place that comply with the FCAC’s Commitment on Modification or Replacement of Existing Products or Services and the Bank Act Consumer Protection Provisions. This applies to all service fee and product changes, whether they fall into the retail or business banking group.

Procedures

A minimum of 60 days in advance, CCSFCU provides notice to our membership through print and e-statement inserts, branch collateral, website notifications, and online banking messaging. In instances where we are changing or replacing an existing product/service and are increasing the applicable charges, we will also draft personalized letters outlining the changes and the modified product/service to which we propose to move the member, the effective dates, and outline other available product and/or service options.

Product changes after notice

Should a member decide to change their product/service or altogether cancel their product/service within the 90 days following the effective date, CCSFCU will promptly change or cancel the product/service and refund the difference in fees, if any, between the charges for the replacement or modified product/service and the charges for the product/service before the change.