Frequently Asked Questions

How do I open a Link Savings Account?

If you are currently a Buduchnist Credit Union member click here to enroll online.  You will be contacted by an FSO within 48 hours to confirm that your account has been activated.

If you would like to join Buduchnist Credit Union and take advantage of the many benefits of membership please come in to any one of our six locations to complete a membership application.  You will be required to provide two (2) pieces of identification (one with photo) and your Social Insurance Number.  To become a member, you are also required to purchase shares valued at $100.

How often does the interest rate change?

The interest rate is a variable rate, which means that it changes with fluctuations in the market.

How is interest paid?

Interest is calculated daily and paid to your account on a monthly basis.

Can I make transactions on this account at a branch?

Transactions can only be made online or via telephone banking.  Branch tellers will be unable to assist you with any transactions on the Link Savings Account.  Remember, since you're doing some of the work yourself Buduchnist can pay you a premium rate.

Can I use this account for my daily banking transactions?

This account is designed to help you save, so all daily banking transactions such as writing cheques, making bill payments, ATM and Interac transactions, are not permitted on this Savings Account.

How do I make deposits and withdrawals from my Link Savings Account?

The Link Savings Account works with your usual Buduchnist accounts.  You will continue to make deposits, fund transfers and withdrawals to and from your usual Buduchnist account (ie. chequing, savings, savings/chequing) as you have to date.

Using BCU LINK, your online or telephone banking service, you will be able to:

• transfer funds into your Link Savings Account from your usual Buduchnist accounts;
• transfer funds out of your LINK Savings Account into your usual Buduchnist accounts.

You will not be able to deposit directly to, or withdraw directly from, your Link Savings Account.

Can I set up automatic transfers?

You can set up automatic transfers from another Buduchnist account to your Link Savings Account or from another financial institution to your Link Savings Account.  (In fact, you’ll be surprised how fast your savings will grow.)  Contact your FSO for details.

Will I receive a statement?

Your Link Savings statements are available any time online.  A printed statement is mailed to you annually at year-end.

Are business accounts and organizational accounts eligible to open a Link Savings Account?

Yes, as long as any one signing officer has permission to initiate transactions on their own.

Are my Link Savings deposits insured?

Your Link Savings Account deposits are insured similarly to any other non-registered account you may have with Buduchnist Credit Union.  Your deposits are insured by the Deposit Insurance Corporation of Ontario (DICO) to a total of $100,000 for non-registered accounts, and up to $100,000 for each RRSP and RRIF contract.  For more information visit the DICO web site at www.dico.com.

Why should I set up this account with Buduchnist?

BCU charges no fees for using this account.  You can make an unlimited number of transfers in and out of your Link Savings Account FREE.

BCU now offers you another opportunity to consolidate and simplify your finances.

BCU respects loyalty by annually paying out a Patronage Dividend to its members – so, you get paid to keep your money on deposit with Buduchnist.

BCU financially supports your community organizations and your projects.