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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.
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This is a frequently asked question , and is definitely worth repeating.
Saving regularly is the foundation of any personal financial plan. In fact, when you demonstrate good financial savings habits, if at some point you are looking to borrow money, this is something lenders look at. Good mone... more...
During uncertain economic times your best strategy is to either reduce your debt or increase your savings, although doing both would be optimal. This provides flexibility so you can react to changes in the economy or your personal employment situation, if needed. If you build up reserves (savings... more...
Yes, we do offer Registered Education Savings Plans (RESPs). An RESP is a government approved plan for the purpose of providing post-secondary education funding. By starting now, you can grow your education funds by making affordable, convenient deposits that earn income that is not taxed until it ... more...
Children are never too young to learn money management skills that can carry with them throughout their lifetime. Remember, even good habits are hard to break!
Start by giving them a weekly allowance and require that they account for where the money was spent. This exercise will allow your chil... more...
The $3 monthly fee on your savings account is a maintenance fee used, for instance, to pay for statement printing and mailing, record storage, etc.
The $3 monthly fee is waived if you have a chequing account with Synergy Credit Union. To determine which chequing account package would best fit... more...
Saving regularly is the foundation of any personal financial plan. In fact, when you demonstrate good financial savings habits, if at some point you are looking to borrow money, this is something lenders look at. Good money management skills show you are responsible and could be a good credit risk.... more...
The efficient way to save money is regularly and frequently, and start now, even time works in your favour. By doing so, depending on the type of investments you choose, you can take advantage of compounding interest or dollar-cost averaging. Both work to your advantage.
Pay yourself first. ... more...
If you find you never have enough money left over, you either have to increase what you earn, which may or may not be an easy fix, or reduce what you spend. Reducing expenses is your first and best place to concentrate your efforts.
Assets (what you own) + Liabilities (what you owe) = Net Worth... more...
Building a good size down payment shows excellent money management skills and dedication to your goals. So how do you maximize it for the short-term?
Since you need access to these funds within the year (or two max), the investment you choose will need to provide easy access when you need it. To... more...
It s always a good idea to have a savings plan. You can make your money work for you by earning interest until such time as you need your cash. Your savings plan could be set up to allow maximum accessibility. How? Use a trickle down approach.
By having a chequing account at Synergy your Dail... more...
Understandably, nobody likes paying service charges. At Synergy, we have options so you can void them.
Call us, and we ll be pleased to set you up with an account that that will keep savings separate from everyday transactions and earn interest at a higher rate than a chequing account. The fee... more...
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