LITAS NEWS
REBATES
Since 1997, when dividends were first paid to our members, LITAS has given back over $4 million to our depositors and borrowers! In a credit union the members are its shareholders. You, as a shareholder-member of LITAS, get to share in the profits earned during each year. The more you use LITAS for your banking needs (loans, deposits, other financial services), the more you will get back! Rebates end up reducing the interest rate you paid on your loans and increasing the interest rate you received for your savings – even your service charges get a rebate! None of the banks give rebates, so come to LITAS credit union, of which you are part-owner, for all your financial needs!
Rebates totalling $362,749 for 2009 were deposited to our members’ various accounts between May 4th and 6th, 2010.
DONATIONS AND GRANTS
LITAS not only gives rebates to each of its active members, but also supports the Lithuanian community’s various organizations and activities (primarily in Montreal). In 2009 alone, LITAS donated over $24,000 to some 18 organizations!
SCHOLARSHIPS FOR STUDENTS
Since 2004 LITAS has been awarding an annual $2,000 scholarship to a member who is a university student. Requirements and applications can be obtained at LITAS or e-mailed upon request in February of each year. The winner is chosen by a committee and the scholarship is presented at the Annual General Meeting, which takes place in April. Congratulations to this year’s winner – Aleksas Ziaugra, a second year physiology student at McGill!
JULY 1ST : CHANGES TO SERVICE CHARGES
As of July 1st, we are obliged to apply the new Desjardins network account maintenance charges for chequing and savings accounts with a passbook or a monthly statement. Chequing and savings accounts with bankbooks will be charged $2 per month per account, while accounts with monthly statements (without copies of cheques written during the month) will be charged $1 per month. These service charges will not apply to members who keep a balance of $2000 in the account.
HOME AND AUTO INSURANCE
The link points to Desjardins General Insurance information. Compare by clicking here!
Litas’ contact information can be found here.
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