Share Newsletter: Fall 2021

15 minute read

  1. Innovative Programs to Improve Safe and Affordable Housing
  2. What does Wealth Mean to You?
  3. The earlier you invest the better
  4. Debit card purchases, Interac e-Transfer®, and ATM limit changes
  5. You can access your Profit Shares!*

Innovative Programs to Improve Safe and Affordable Housing 

It’s been a long day. You just want to flop on the couch and put your feet up. Now imagine your home, which should be your haven, doesn’t feel safe. Or that you can hardly call your friend’s brother’s couch “home”. 

Safe and affordable housing is a right, yet it’s out of reach for many people. The waiting list for affordable housing in Waterloo Region was 3,000 individuals or families in 2001. Today, amidst a hot residential real estate market that’s putting pressure on the rental supply, the need has doubled to more than 6,000. Adding to this challenge, many people face disproportionate barriers to access housing that is affordable. This includes seniors, newcomers, racialized communities and Indigenous peoples, and those with disabilities. 

Even if an individual or family is able to access housing they can afford, that living situation may not be safe. For example, safety can be compromised when there is gender-based violence in the home or a landlord allows for unsafe conditions at a rental property. 

Read the full blog article → Innovative programs to improve safe and affordable housing


What does ‘Wealth’ mean to you? 

There are some words that are more loaded with meaning than others. Wealth is one of those words. For some, the term conjures ideas of riches and a carefree lifestyle. Others may instead use the term to acknowledge an abundance of love, friendship, family, food, or security. 

In contrast, some people may believe financial wealth is not a healthy aspiration and can be an impediment to living a faithful life. In fact, many of our members wrestle with questions like: How much is enough? Who is our money really for? How can we employ the idea of mutual aid to help others in need? 

We operate as a financial cooperative, a structure that was chosen by our founders as a way to extend access to financial services across our community and put mutual aid into faithful practice. The concept of stewardship continues to be a central part of Kindred’s philosophy of wealth and investing practices. We’re committed to nurturing a spirit of generosity, while helping you, our members, realize your life goals.

Read the full blog article → What does ‘Wealth’ mean to you?


The earlier you invest the better

Prioritize your retirement goals and get time on your side. The earlier you start, the more you benefit from the power of compounding. Compounding occurs when the returns that your investments earn begin to generate a return. In an RRSP, you can reinvest your gains, including your dividend and interest income, without paying any tax, as long as the funds remain within the plan. The chart below shows why it’s best to start investing as early as you can.

Compounding boosts your RRSP

Start at
age 25
Start at
age 35
Start at
age 45
Monthly Investments $288 $548 $1,150
Value at age 65 $501,419 $500,659 $500,971
Portion from compound growth $363,179 $303,379 $224,971
Source: Credential Qtrade Securities Inc. Scenarios assume an average 5.5% annual rate of return. For illustrative purposes only.

Invest regularly

To leverage the power of compounding, it’s a good idea to hardwire the habit of saving and investing. Set up a regular contribution plan to move a set amount of money automatically every month from your banking account to your RRSP, and invest that money to get it working on your behalf. You’ll quickly adjust your budget and your lifestyle around that monthly commitment, and you’ll avoid the stress of coming up with a single lump-sum contribution at the RRSP deadline.

Re-invest dividends automatically

Keep your money invested, re-invested and compounding, by setting up a dividend reinvestment plan (“DRIP”) for dividend-paying stocks that you own. With a DRIP, stock dividend payments are automatically used to buy more shares in the company.

Contact a member of our Wealth and Investment Team for investing advice with your best interests in mind. Call 1.888.672.6728 or email


Debit card purchases, Interac e-Transfer®, and ATM limit changes

Buying at shops, paying friends, and accessing cash is so much easier today with the means to transfer funds electronically. Given the increased demand and need for debit card purchases, Interac e-Transfer, and ATM withdrawals, transaction limits are increasing for members over the age of 18 and for Kindred business members. The table below offers details.

Current Limit New Limit
Interac e-Transfer
Single Transaction $3,000 $3,000
Daily total $5,000 $10,000
Current Limit New Limit
Debit Card Purchases
Members under 12 $200 $200
Members under 18 $1,000 $1,000
Members 18+ $2,000 $3,000
Current Limit New Limit
ATM Withdrawals
Members under 12 $200 $200
Members under 18 $500 $500
Members 18+ $500 $1,000
Current Limit New Limit
Interac e-Transfer – Business
Single Transaction $5,000 $5,000
Daily total $5,000 $20,000
7 day total $15,000 $20,000
31 day total $35,000 $40,000

Limits are in place to protect your money and to avoid fraud. If you’ve previously been in touch to set lower limits, these default changes will not be applied to your account.

If you prefer lower limits than those noted, it’s easy for us to make changes. Visit a branch or simply give us a call at 1.888.672.6728 to change your default limits.

Kindred among “Best for the world”

Kindred has been recognized among the Best for the World™ B Corps of 2021. Ranking in the top 5% in its size group in the Customers impact area, Kindred is in excellent company with B Corp businesses from around the world.

This ‘Best for Customers’ honour recognizes Kindred’s focus on the member experience. Plus, it

acknowledges the ways the credit union has made it easier for people across the province of Ontario to experience ‘Banking with Purpose wherever they’re at’.

“Knowledge sharing amongst the B Corp community, where everyone is committed to using business as a force for good, reinforces how cooperation can be part of creating long-term solutions to the world’s most pressing issues,” says Kindred’s CEO, Ian Thomas.

Now accepting applications for the 2022 Kindred Charitable Fund

The Kindred Charitable Fund is an endowment that offers annual project grants to churches and charitable organizations. Each year, we provide grants to support projects that help us accomplish our purpose. Applications are due by October 31. Apply now for a Kindred Charitable Fund grant.

The Kindred Charitable Fund is accepting applications.

Learn how you can set up your own self-directed RRSP with a Qtrade Direct Investing™ online brokerage account.

Online brokerage services are offered through Qtrade Direct Investing, a division of Credential Qtrade Securities Inc. Qtrade, Qtrade Direct Investing and Write your own future are trade names and/or trademarks of Aviso Wealth.

A refreshing new look for online banking – Launching Soon!

Kindred is excited to announce the launch of our new and refreshed online banking! Kindred’s new online banking features a refreshing look and feel with visual cues to prompt users. With a similar layout, the new site will feel familiar to long-time users. Plus, the functionality of the site is more or less unchanged. Built on an agile and secure platform, our new online baking gives us a strong foundation for future development.

Responsive web design means that it’s easy to view your accounts and do your banking, whether you access online banking via mobile phone, tablet, or desktop computer. You can use the same login credentials, so it’s easy to get started.

LOOKING FOR GUIDANCE? As always, you can call our helpful Member Contact Centre at 1.888.672.6728 for further assistance. 

Attention CEBA Loan Holders

Please read this important reminder about Kindred’s process for facilitating Canadian Emergency Business Account (CEBA) payments to the Canadian government.

While repayment is not yet required, Kindred added a new savings account to CEBA loan holders’ memberships called ‘Plan 24 Savings’, which shows the sub-account #70 (Plan 24/70). The purpose of this account is to allow CEBA loan holders to make payments at your convenience.

All funds deposited to your Plan 24/70 account will be applied to your CEBA loan within 15 days of deposit.

Take a look at this pdf CEBA Loan Repayment Frequently Asked Questions for more information about the process. And of course, you may contact your Account Manager at any time.

Business Owners we're here for you.

Remote Deposit Capture for Business

We’re excited to introduce Kindred’s Remote Deposit Capture for Business members. Now you can deposit both Canadian and US cheques easily and securely without visiting a branch! Remote Deposit Capture is just one more way we’re offering Banking with Purpose wherever you’re at!

Visit to learn more.


You can access your Profit Shares!

From September 1 until October 29, 2021, you are able to access up to 5% of your accumulated Profit Shares.*

Transfer requests will be processed in December and will appear on your December statement. Transfers from non-registered to registered Profit Share accounts can take place at any point in the year.

Learn more about your membership in Kindred and Profit Shares. For more information about redemption, call 1.888.672.6728 and speak with a member of our Wealth and Investment Team.

*Subject to a set dollar minimum. All transfer requests are subject to approval by the Board of Directors.

National Day for Truth and Reconciliation

National Day for Truth and Reconciliation logo

Kindred will be recognizing the National Day for Truth and Reconciliation on September 30.

As noted in the Calls to Action, this new federal statutory holiday is meant to “honour Survivors, their families, and communities, and ensure that public commemoration of the history and legacy of residential schools remains a vital component of the reconciliation process.”

The day is intended to be more than another holiday. It’s meant to create space and time to reflect on the ways we can all participate in reconciliation. We invite you to explore Resources to participate in the National Day for Truth and Reconciliation.

Kindred Credit Union

At Kindred, we believe you have a better choice for banking. We believe values and faith are central to life, and financial decisions are not values-neutral. In fact, we think financial decisions can impact the world in amazing ways—so our values are integrated into everything we do. We call this Banking with Purpose.

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