News & Advice

Check out our News & Advice Blog for the latest tips, tricks, advice, and information from our team of trusted financial advisors. We cover saving and investing, budgeting, financial planning, borrowing, business ownership, and more.

Mastering Personal Finance as a New Canadian

Relocating to a new country is both exciting and overwhelming. From navigating a new culture to securing a job and finding housing, every aspect of settling in comes with its own challenges. One of the most important things newcomers need to get a handle on is their finances.

Saving For Your Child's Future With RESPs

As your child grows, so does the cost of higher education. To ensure they have the financial resources to pursue their academic dreams, a Registered Education Savings Plan (RESP) is a powerful tool.

Canada Post Service Disruption Notice

You may have heard that the Canadian Union of Postal Workers (CUPW) has initiated a service disruption, which may impact mail delivery. Not to worry—there are plenty of secure ways to stay on top of your day-to-day banking while we wait for things to return to normal.

Buy Now, Pay Later: A Closer Look

As the cost of living continues to rise, many consumers are turning to Buy Now, Pay Later (BNPL) programs as a way to manage their expenses. These programs allow you to purchase items immediately and pay for them in installments, often interest-free.

Mastering Money: 7 Budgeting Habits of the Financially Savvy

Navigating today's economy can be challenging, but with a solid financial foundation, you can achieve your goals. One crucial habit is budgeting. By understanding your income and expenses, you can make informed decisions and save for the future.

MoneyWise

The Fall 2024 edition of our MoneyWise newsletter is here! Check it out for updates on merger discussions, mortgage rate news, info on protecting against indentity theft and cyber attacks, and a few cute puppy photos.

Investing Strategies: The Importance of Diversification

Investing can be a powerful tool for Canadians looking to grow their wealth over time. One effective way to mitigate the inherent risk of investing is through diversification. By spreading your investments across various asset classes, you can reduce the impact of any single investment's poor performance.

Gen Z Money Woes: Breaking Bad Habits

Gen Z is diving headfirst into adulthood, and it’s a splash of cold water. Fresh out of school and into the real world, they're juggling everything from grocery bills to rent, while also dreaming of vacations and big purchases.

Business Case Approved to Pursue Approval of a Merger!

ABCU Credit Union (ABCU) and Innovation Federal Credit Union (Innovation) are pleased to announce that their respective Boards of Directors have approved the business case to apply for regulatory approval of a merger.

Tips for Getting a Small Business Loan

Small businesses make up 98% of all enterprises in Canada, yet only about half of them survive beyond five years. Starting your own business involves many steps, and applying for a loan is a critical one. The additional funds can offer the boost your business needs to thrive well beyond the initial years.

How to Protect Your Information

In our increasingly digital world, safeguarding personal information has become a critical necessity. Cyber threats, data breaches, and privacy invasions are ever-present dangers. Here’s how you can take proactive steps to protect your information, your privacy, and your funds.

Registered Accounts at a Glance

Which registered account should you invest in first? Or should you invest in registered accounts at all?

There’s no universal answer, as it depends on your debt levels, your savings purpose and timeline, your tax situation, and more. To get you started choosing a registered account, we’ve summarized and compared the RRSP, TFSA, RESP, RDSP, RRIF, and FHSA below.

SPRING 2024 EDITION

MoneyWise

The Spring 2024 edition of our MoneyWise newsletter has arrived! Check it out for updates on our AGM, digital banking, our charitable initiatives, and more.

Exploring First-Ever Interprovincial Merger

The Board of Directors of Innovation Federal Credit Union (Innovation) and ABCU Credit Union (ABCU) are excited to announce their intention to explore a merger. The proposed partnership would bring ground-breaking changes to the credit union landscape, being the first-ever interprovincial merger.

Introducing Self-Serve Password Reset

Self-Serve PAC Reset is a digital banking feature that allows members to reset their Personal Access Codes (PAC) whenever they need to, at the time they need to. Without Self-Serve PAC Reset, members must contact ABCU Credit Union to request a password reset during the business hours. Self-Serve PAC Reset functionality relies on 2-Step Verification to authenticate members before they can reset a PAC.

Introducing 2-Step Verification

ABCU will be implementing 2-Step Verification (2SV) to login to online and mobile banking in early 2024. With cyber-threats such as “malware” and “phishing” attacks becoming more and more sophisticated, 2SV strengthens online and mobile banking security. This article provides an in-depth explanation of what 2SV is and how it works.

First Home Savings Account offers new way for members to save for their first home

It’s no secret that home ownership has become increasingly unattainable for many Canadians over the last decade, with many would-be homeowners feeling deeply discouraged. There may be a glimmer of hope in the form of the new First Home Savings Account that aims to bring home ownership within reach of more Canadians.

Fall 2023 Edition

Money Wise

Check out the latest edition of our Money Wise newsletter for Simply Better Advice!

New Website FAQs

Members will notice a brand new look and feel and improved user experience. This includes more intuitive navigation that makes it easier to find the information you're looking for quickly and seamlessly.

How to Protect Yourself Against Inflation

Inflation is when prices go up, and as a result, the value of money goes down. It’s a term we’ve become all too familiar with as inflation in Canada hit a 40-year high of 8.13% in 2022. Learn what you can do to protect your assets from inflation.

5 Credit Mistakes You Should Never Make

Your credit score is a number typically between 300-900. Credit scores from 660 to 900 are generally considered good, very good, or excellent. If you plan on borrowing money, you’ll want to avoid these 5 things to ensure your credit stays in tip top shape.

4 Financial Hacks for New Entrepreneurs

If you’re like most new entrepreneurs, you’ll rank “managing finances” firmly near the bottom of your “enjoyable tasks” list. It’s a daunting task, but it’s crucial for the success of your business. Check out our four top tips to help new business owners better manage their finances.

5 Financial Products Every New Business Needs

There is a lot to organize when you’re starting a business. Between getting a license, registering your business, and securing the right equipment, it’s easy for some tasks to fall through the cracks. To help you out on your new business journey, we’ve compiled a list of five financial products every new business needs.

How to Plan For Retirement as a Single Person

Many brochures for retirement planning feature a smiling silver haired couple taking sunset walks into their sunset years. However, if you’re sailing solo into your golden oldies, you may be alone in your house, but you’re not alone in your demographic.

Getting The Most Out of a Charitable Donation

As a value conscious consumer, you’re strategic about how you spend your hard earned dollars. So shouldn't you apply the same philosophy to your charitable giving? Of course you should! When you're strategic about donating, your dollar works harder for causes that are important to you.