PersonalBusinessagricultural
Accounts & CardsBorrowingInvestingInsuranceToolsAbout Us
View DemoLearn More
>>  Home  |  Solutions Centre Printable Version
  • Solutions Centre



    • Welcome to the Synergy Solutions Centre!

    Just click on the one of the questions below and you'll get a simple answer. If the question you have doesn't appear on this list, feel free to ask us and we'll be happy to help you in any way we can.

    You can "search" through the questions and answers by entering keyword(s) into our search box. Or you can categorize the questions listed by a category name, such as borrowing or wealth services, by selecting one of the categories from the drop-down menu from our main page. You can also comment on each of these questions by providing a comment on our answer, where we could provide additional answers.



    Chequing Accounts

    As a member who lives outside the trading area and does all my banking online and using ATM/MemberDirect and my Global Payment/debit card, the Electronic Chequing Account worked great for me. With the changes to accounts, I am going to be paying 15.00 a month (the new method doesn't appear to like me as I have paid off most of my loans and don't have an active mortgage so my level of monthly relationship balance with Synergy isn't over 350,000, and I don't often have over $10,000 in my account - so no waive of service fee now). How do I find out what my monthly relationship balance with Synergy is to properly determine what account will work for me. It seems that the new system doesn't reward members who have been withSynergy their whole lives and have ued their services like mortgages and loas in the past but have paid off their debts. Instead, it appears to want new business with a sizable motgage so you qualify for "Waived" service fees.

    You are right, Synergy has made a shift to reward members for doing business with us today. It s not that we do not appreciate the support people have given in the past, we sincerely do, however the balances in accounts today pay for today s costs and we are trying to match our income with our expe...   more...

    What is a manual, self-serve or system transaction? What items fall under each category for the chequing account packages?

    Each of Synergy's chequing account packages are catered to your needs for your everyday banking. Thus, we have developed a variety of chequing account packages to meet the needs of specific groups. Each package varies in the number of manual, self-serve and system transactions offered - keeping the...   more...

    With the changes to service fees on Chequing Account Packages, instead of being rewarded for being a long-time member with paid loans and prior financial debt to Synergy (paid off) I am now going to have to pay 180.00 a year for the same package I paid $0 for last month due to my level of Profitshares. I don't have a $300000 morgage and a loan for a new truck and a new boat, so I don't have the Monthly Relationship Balance of $350,000 I now need to have my service fees waived. Why are people like me being penalized for responsible money management? It appears the new waiving of account service fees is to attract new accounts and new large loans, not maintain long-term members. How do we find out our Monthly Relationship Balan, as I am sure I am not the only one that doesn't maintain $10000 blance in my chequing account - I would have it in something gathering some interest even is it is 0.25%

    Thank you for your comments. "We stopped, we asked, we listened, and most importantly, we acted." Based upon your feedback, along with further investigation into other recent factors that affect the setting of our rates and packages, Synergy Credit Union will no longer proceed with its new chequi...   more...

    My husband and I have 2 children and on my son's last birthday he received some cheque's in the mail from relatives to buy him a present with. I don't have an account set up for him in his name and I need to deposit the cheques for him as he is not old enough to do this himself. I was wondering at what age can you open up a youth account and what kind of options are with them. I do not want him to have access to the money with out me but I need someway to deposit his money.

    You can open up a youth account at any age, but until the child can handle the responsibility or have a need for a chequing account, doing so is not necessary. Instead, you could simply deposit the monies to a Synergy iSave, or Wealth Accumulator with as little as $25 per month, within a sub ac...   more...

    I have just recently started a home business. What would be the best type of bank account to use for my new business?

    Your new home business will most likely require a chequing account to conduct your business specific transactions. A designated chequing account will serve another purpose - to help in simplifying your bookkeeping. The type of chequing account you choose will depend on the average number of bus...   more...

    The Alberta Credit Union gives interest on U.S. accounts, why do you not do this?

    Synergy s U.S. chequing account, like its Canadian counterpart, does pay interest. The interest rate is tiered, calculated daily and paid monthly. With the current low interest rate environment, however, your U.S. funds on deposit must be $5,000 or greater to earn interest. Click here to check ou...   more...

    Can you lower banking fees?

    First off, the type of chequing account you choose may help to reduce the banking fees you pay. If you wish to explore your options, check out our calculators on our website where we have a neat one that determines what chequing account is best for you. The "Chequing Account Selector" is available ...   more...

    I am about to turn 60 what are my best options for a chequing/savings account with the Credit Union.

    Congratulations on your upcoming milestone! When you, as a member of Synergy Credit Union, reach the age of 60, you receive a Value Chequing Account free of monthly fees. That equates to a value of $120 per year. The Value Chequing Account provides 10 free manual transactions and 40 free self-...   more...

    What type of bank account should I have. I do a lot of my own transactions on line and carry a balance of usually over $2000.

    Synergy Credit Union offers four different chequing accounts. Each is geared to satisfy different banking needs. From low, to medium and high volume users, and one that is specifically designed for those who enjoy the convenience of technology to conduct their banking business. It is called the Ele...   more...

    Why does my U.S.account not make interest? If you have my money it would make sense that it would make something???

    Synergy s U.S. chequing account, like its Canadian counterpart, does pay interest. The interest rate is tiered, calculated daily and paid monthly. With the current low interest rate environment, however, your U.S. funds on deposit must be $5,000 or greater to earn interest. Click here for more in...   more...

    If I had a U.S. account, would I be paid interest on the U.S. money in that account?

    Synergy s U.S. chequing account, like its Canadian counterpart, does pay interest. The interest rate is tiered, calculated daily and paid monthly. With the current low interest rate environment, however, your U.S. funds on deposit must be $5,000 or greater to earn interest. Click here for more ...   more...

    At what age can you have a Synergy savings account?

    You are never too young! And since saving is a good habit to have, Synergy encourages our youth to learn and develop good financial practices early in life. If the child is of school age, a Student Account is perfect. Students receive their Value Chequing and Savings accounts free of monthly fee...   more...

    Why do I have to pay service charges on all accounts instead of 1 service fee for all?

    The service fees at financial institutions are assessed by account; although not perfect, it is a fair way. To maintain an account, there are set costs for a financial institution, for instance record storage, government reporting requirements (T5s), and creating and mailing statements to name a fe...   more...

    How old do you have to be to open an account?

    You re never too old or too young to open a bank account. In fact, anyone under the age of 18 can qualify for a youth account. No matter what age you are, making the most of the money you have just makes cents, oops…sense! Opening an account is easy. Stop by your local branch or set up an appoi...   more...

    Do you have to have a "X" number of dollars before you get all the benefits (i.e. free withdrawals)?

    No, each of our chequing account packages offers a suite of benefits that you receive regardless how much money you have in them. What you do receive by achieving the designated minimum monthly balance on your chequing account is the entitlement to operate that account without a monthly fee?the mon...   more...