Share Newsletter: Spring 2020

Share newsletter helps you stay current with the latest news and information from your credit union community. Here’s what you’ll find in this edition:

1. Connecting Through Stories
2. Kindred Charitable Fund 2020 Grant Recipients
3. A Wealth of Investment Options
4. Avoid E-Transfer Fraud
5. Members Receive $1 Million

Connecting Through Stories

The X Page: A Storytelling Workshop is a community arts initiative that connects women who came to Canada as refugees or immigrants with artists who assist and mentor them to write and perform their own stories.

In its second year, the workshop engages 19 women in weekly gatherings of writing and community building. Their stories are as varied as their backgrounds, and often they hone in on the simple things—memories. The project’s volunteers help participants translate their stories for the stage.

The idea for The X Page first took off in mid-2018, when Carrie Snyder—inspired by a similar Toronto production—approached Lamees Al Ethari. The women, who both teach at the University of Waterloo, saw the potential this creative project could offer to newcomers in the Waterloo Region community. Through their networks, they were able to gather a team of talented volunteers to bring the idea to life.

Why theatre? “It allows us to share and find the space to be vulnerable,” comments Pam Patel, who works as The X Page performance coach and is Artistic Director at MT Space. She notes the benefits of the process behind developing a production, as well as performing it. “The exercises, the writing, and practicing as a group allows us to tap into our artistic minds,” and the community that develops through the workshop is quite remarkable.

This year, participants are benefiting from the support of peer mentors, who offer insight and reassurance throughout the creative process. “The idea of performing was so intimidating,” noted 2019 participant Maha Eid. “None of us thought it was possible—but we did it.”

There was a moment during the 2019 performance that spoke to the power of this storytelling workshop. On stage, one woman broke into tears. As she struggled to compose herself, a fellow participant walked up and quietly stood next to her. After a few deep breaths, she was able
to continue.

“It’s small moments like these that showcase our shared humanity,” notes Lamees. “I agree!” adds Amy Zavitz, Kindred’s Community Engagement Specialist. “And, that interaction gave the audience a glimpse into the deep relationships that had developed behind the scenes, in the weeks leading up to the performance.”

In spite of the success of the first season of The X Page, there were challenges to renewing the production for a second year: they needed a practice space; administrative expertise; and funding. “We learned so much the first time around, it would have been a pity to let it just end there,” noted Snyder. “We were thrilled when we learned about Kindred’s sponsorship.”

Another big win that helped revive the project was the administrative support offered by The New Quarterly (TNQ), a Canadian literary journal headed by Pamela Mulloy. Pamela, who also acts as The X Page’s editor, arranged for TNQ to publish participants’ stories in 2019, and there are plans to do so again this year.

Kindred is so pleased to be part of this exciting community-building project, facilitating connections, and building stronger support for newcomers in the region. It’s part of how we’re living out our purpose to inspire peaceful, just, and prosperous communities.

Kindred Charitable Fund 2020 Grant Recipients

Kindred Credit Union is pleased to announce the Kindred Charitable Fund 2020 grant recipients. In 2020, Kindred will be distributing $78,500 in funding to 17 organizations. Each recipient actively inspires peaceful, just, and prosperous communities.

The Kindred Charitable Fund has distributed $1.1 million in support of churches and charitable organizations since its inception in 1999. Including the 2020 recipients, a total of 173 groups have benefited from these grants, which have impacted people and communities across Ontario.

MCRS Receives $10,000 Focus Grant

This year, the $10,000 Kindred Charitable Fund Focus Grant was awarded to Mennonite Coalition for Refugee Support (MCRS). MCRS welcomes and supports refugee claimants in Waterloo Region by helping them navigate the refugee claim process, access settlement support, and build a support community, while offering advocacy support and education.

MCRS recently took over the Welcome Home program from Ray of Hope. This preserves the only 13 beds in Kitchener-Waterloo that are available specifically for refugee claimants when they first arrive in the community. 

Additional Grant Recipients

Sanctuary Refugee Health Centre: Volunteers as Cultural Brokers (Kitchener) – $9,000
Mennonite Community Services of Southern Ontario: Living in Peace (Aylmer) – $6,000
Father’s Heart Healing Ministries: Houses of Refuge – Beauty for Ashes Transformation House (BATH) & Oil of Joy (Arthur) – $5,000
Cambridge Self-Help Food Bank: Food Savers Club (FSC) (Cambridge) – $5,000
Building Bridges Erie Shores: Re-Branding 101 (Leamington) – $5,000
The Harvest Bowl: Community Gleaning and Feeding (Belmont) – $5,000
Sanctuary Ministries of London: Sanctuary, London Food Security (London) – $4,000
Reception House Waterloo Region: Family Partnership Project (Kitchener) – $4,000
Aurora House: Aurora House (Toronto) – $4,000
Fraser Lake Camp: Zero Food Waste (Stouffville) – $4,000
Wilmot Family Resource Centre: The Resource Market Pilot Project (New Hamburg) – $4,000
Adventure4Change: Read With Me (Waterloo) – $3,000
Community Living Guelph Wellington: Grocery Assistance Program – Pantry Librarian in Mount Forest (Guelph) – $3,000
Cycling Into The Future: Cycling Into The Future For Everyone (Kitchener) – $2,500
Community Justice Initiatives of Waterloo Region: Restorative Workplaces – bringing restorative justice to workplace and organizational conflict (Kitchener) – $2,500
Theatre of the Beat: Captivity Stage Adaptation (Toronto) – $2,500

A Wealth of Investment Options

There are so many options for saving, so what to choose? Let’s review the benefits of each, and see what makes sense for you

GICs and high-interest savings accounts are the safest investments. Your principal is guaranteed, and you can rest easy knowing that your money will earn a guaranteed rate of interest over the life of the term. There’s built-in flexibility: GICs offer terms from 30-days up to five years, and most high-interest accounts let you withdraw funds at any time. All that said, the returns can be modest when compared to other options. For a long-term investor, playing it safe means your investment may not keep up with inflation and your purchasing power can gradually be eroded.

Did you know that Kindred is the first financial institution in Canada to have all of our GICs validated as socially responsible investments (SRI)?

Mutual funds are diversified by design. The concept is simple: a group of investors pool their funds together and a fund manager invests this money in return for a management fee. Every mutual fund unit represents an investment in a variety of securities that could include stocks, bonds, cash, and gold certificates. With their potential for growth, mutual funds can help you reach your long-term financial goals. However, it’s important to remember that mutual funds are market-based investments and returns are not guaranteed.

Stocks have historically had higher risk, however, they can offer higher long-term returns than bonds or cash-based investments. If you choose to hold a high percentage of stocks in your portfolio, you should be willing to experience some volatility.

Bonds are generally less volatile than stocks and offer more modest returns. If you don’t consider yourself an aggressive investor, then you might have a higher proportion of bonds in your portfolio.

Your time horizon is an important factor when considering your risks and asset choice. This refers to the amount of time from now until you will need to access your money.

While safety of principal naturally becomes a higher priority at retirement, it may still make sense to keep a portion of your assets in longer-term, growth-oriented investments. In most cases, a balanced portfolio that includes equities, fixed income, and cash makes the most sense.

Your investment decisions, your way

Personalized financial planning services are available to every Kindred member. Just ask! We help you set goals, explore your options, understand risk and return opportunities, and select an appropriate mix of investments. Speak with a member of our Investment Team to get the process started.

If you prefer self-service, everything you need to manage your investments is available via Qtrade Investor. This award-winning platform provides low commissions, powerful tools and research, and an easy-to-use platform backed by outstanding service.

Mutual funds are offered through Qtrade Asset Management Inc. Mutual funds and other securities are offered through Qtrade Advisor, a division of Credential Qtrade Securities Inc. VirtualWealth is a registered trade name of Credential Qtrade Securities Inc. Online brokerage services are offered through Qtrade Investor, a division of Credential Qtrade Securities Inc.

Avoiding E-Transfer Fraud

The interception of e-transfers is a growing issue. Follow these guidelines to avoid becoming a target.

Interac e-Transfer Security Tips

1. Never send the password via the e-Transfer message, and don’t email or text it either.
2. Select a question and answer that’s not easy for a third party to guess.
3. Use caution when opening unknown/unexpected emails; do not click on suspicious links.
4. Only transact with trusted, well-known websites, vendors, and individuals.
5. Register for Autodeposit! This is the most secure way to transact using the e-Transfer service, as it cannot be intercepted. 

How can an e-Transfer be intercepted?

Fraudsters can infect your device with malware or hack an email address so that they can be alerted to incoming e-Transfers. Then, a fraudster has the opportunity to open an incoming e-Transfer and change the location/receiver details so that it can be deposited into their own account. Senders only become aware of the intercepted e-Transfer when they are notified by the intended recipient that the funds were not received. It’s very difficult to recover the lost funds in these cases. 

You can set up Autodeposit through Kindred’s online banking at
www.kindedcu.com. Register today!

March is B Corp Month! We’re proud to be a part of a global community that’s using business as a force for good. 

We’re a Certified B Corp because we’re committed to making the world a better place by living our purpose. 

You‘re also a force for good — yes, YOU! Join the conversation and #VoteEveryDay with not only your dollars, but your actions.

Members receive $1 million!

In March, Kindred will make Profit Shares payments to members, totalling over $1 million of our 2019 earnings! That means we’ve shared more than $13 million with our members over the last 10 years.

We exemplify our core value of stewardship by sharing a significant portion of our annual profits with our communities, as well as our members through Profit Shares. The amount we give each year is calculated based on members’ annual deposit and loan business. All members receive a minimum of $5 in Profit Shares annually. 

Details of your Profit Shares can be found on your March account statement.

We’re listening!

We want you to experience great service at Kindred! Throughout the year, we contact members after an interaction with Kindred to learn more about your experience with us. This short online survey helps us understand what you value, what we’re doing right, and what we could do better.

We’re hearing back from many of you, and we truly appreciate it. You’re helping us identify opportunities to build solutions that better meet your needs. We’re listening, exploring, and making changes based on your feedback. So thank you, and please keep responding!

Securities and securities related financial planning services are offered through Qtrade Advisor, a division of Credential Qtrade Securities Inc., Member of the Canadian Investor Protection Fund. Mutual funds and securities related financial planning services are offered through Qtrade Asset Management Inc., Member MFDA.

Do you have a suggestion for something you would like to see in Share? Would you like to Share your Kindred story? Email us at info@kindredcu.com or speak with any member of the Kindred team – we’d love to hear from you!

Share newsletter is mailed to all member households with their account statements in March, June, September, and December. If you don’t receive paper statements yet would like to receive Share by mail, email us at info@kindredcu.com or call toll-free 1.888.672.6728.

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