Accounts and services

If you currently have a Canadian dollar (CAD) chequing account, it will automatically become an Unlimited Chequing Account on the Transition Date, featuring: 

• Unlimited day-to-day transactions
• Free Interac e-Transfers® 
• Complimentary access to ID Assist® Online Identity Theft Protection (a value of $96 annually)

If you have a U.S. dollar (USD) chequing or savings account it will automatically transition to the U.S. Chequing Account. The U.S. Chequing Account offers unlimited deposits and the ability to write cheques in US dollars. 

Refer to personal banking transition guide product appendix for more details

If you currently hold a non-registered savings account, it will automatically become a High-Interest Savings Account (HISA). 

To provide continuity and value during this transition, the interest rate in effect on your account immediately before the Transition Date will continue to apply for six months following the Transition Date, through to May 14, 2027.   

If you have a mortgage, loan, line of credit or term deposit, these products will continue to operate as they do today and there will be no changes to key terms such as: 

• Interest rates  
• Payment schedules  
• Borrowing limits  
• Remaining terms  
• Account balances  

Note: Auto renewal instructions and the name for some GICs will change. See section 4 in the personal banking transition guide for more details.    

To successfully bring our credit unions together, we need all members to be on the same banking platform. By consolidating onto one system, we can improve efficiency, deliver a more consistent banking experience, and continue enhancing our services with new features and capabilities in the future.

• Shares:  You will now see a combined balance of the shares owned by other joint account holders. 
• Registered Accounts:  Only registered accounts that are solely held will be visible along with combined balances of the shares you hold individually and those you may hold with other joint account holders.  Note – impacted registered accounts include Tax Free Savings Accounts (TFSA), Registered Retirement Savings Funds (RRSPs), Registered Retirement Income Fund (RRIF), First Home Savings Account (FHSA), Locked In Retirement Fund (LIRA), and Life Income Fund (LIF)  
• All other account types: There will be no change to other accounts including chequing, non-registered savings, lines of credit, loans, or mortgages. You will continue to see accounts belonging solely to you, and accounts held jointly with others in online banking. 

If you don’t currently have online banking access, please visit your local branch or contact the Member Service Centre at 604.740.2662 or 1.800.320.4588 (toll-free) for assistance. 

• Shares: You will now see your own $5.00 shares on your statement as a combined balance of joint member shares.  
• Registered Accounts: There will be no changes to your registered accounts like TFSA and RSPs on your statement.  
• All other account types: There will be no changes to other accounts including chequing, non-registered savings, lines of credit, loans, or mortgages. You will continue to see accounts belonging solely to you, and accounts held jointly with others in online banking. 

If you currently receive direct deposits, or have recurring bill payments, or pre-authorized debits (with one exception outlined below) these will be automatically transferred to your new account. 


Exception: If you have personally set up recurring or future-dated transfers from your Sunshine Coast Financial account to another personal account you have at another financial institution, these pre-authorized debits will not be carried over to your new account. You will need to take action to re-establish these transfers from your new account following the Transition Date. However, if a third-party, such as a utility provider, is automatically withdrawing payments from your account under a pre-authorized debit agreement, those withdrawals will continue without interruption following the Transition Date.  

While your existing alerts from Sunshine Coast Financial will not carry over, you will automatically start receiving low balance alerts. For more details, please view Section 3.4 of the personal banking guide. Please note alert messages will now come from CCSFederalCU.

No action is required from you at this time. The changes will happen automatically, and you will see the updated information on your statement or when you log in to digital banking after the transition.

No, there will be no other changes to your registered accounts and terms including Tax Free Savings Accounts (TFSA), Registered Retirement Savings Funds (RRSPs), Registered Retirement Income Fund (RRIF), First Home Savings Account (FHSA), Locked In Retirement Fund (LIRA), and Life Income Fund (LIF). Your ability to manage, access, withdraw from or contribute to these accounts won’t be impacted. Your contribution and withdrawal limits will remain the same, and your funds will remain sheltered from tax, with no tax implications. 

If you have any questions or need assistance, please contact our Member Service Centre at   604.740.2662 or 1.800.320.4588 (toll-free) or visit your nearest branch.