Important information about your statements going forward

As of September month-end, there will be a few changes to your bank statements that we want to ensure you know about. These changes will apply to members who receive paper statements, as well as those who access their e-Statements through online banking.

Please note:
The information on your statement is now organized differently. You will see all accounts that you hold in your own name as well as those you hold jointly with another person. If you are listed as a joint (or a second-named) member on an account, you will now have your own account number and will begin receiving e-statements to show the activity in all of the accounts you are named on.

What’s Changing

Types of statements – Starting with September month-end, statements will be created based on account ownership.

This means:

  • Main member on an account – As the main or first named person on an account, you will continue to receive statements via your preferred method: paper or e-Statement.
  • Second named member on an account – As the joint or second named person on an account, you will only receive an e-Statement going forward. Please contact your branch or call the Member Service Centre if you would like to be set up with electronic access.

Number of statements – Each member will receive one statement with all the products they hold.  Business accounts will receive a separate business statement.

RRSPs, TFSAs, and RRIFs – Moving forward, members who own and therefore whose name is on an RRSP, TFSA or RRIF contract will be the only members who will see these products on their statement.

Accessing previous e-Statements – There are some changes to how members can access e-statements from before September 2020:

  • e-Statement access by the main member – If you are the main or first named person on a membership, you will be able to view prior monthly e-Statements in online banking by clicking ‘My Accounts’, then ‘View e-Statements’.
  • e-Statements access by a joint member – If you are listed as a joint (or second-named) member on your account, you will not see historical e-statements in online banking. You will, however, be able to view all your banking history through online or mobile banking.

If you require a copy of an old paper statement, please call the Member Service Centre at 1-855-220-2580 or visit a branch who can help.

Understanding Your New Statement

As part of the banking system conversion, statements have a different look and layout.

Click here for a guide for understanding the changes as you review this month’s statement.

What’s Not Changing

Schedule – Paper statements and e-Statements will continue to be sent on a monthly schedule at each month end.

Due to the banking system conversion, members will receive two statements for September only:

  • Sept 1 to Sept 18 (for activity prior to conversion)
  • Sept 19 to Sept 30 (for activity post-conversion)

No Longer Want a Printed Statement?

Members who use online banking have the option to receive statements electronically (called e-Statements) instead of getting paper statements by mail. These e-Statements can be download, kept as an electronic copy or printed as needed at home.

To sign up for e-Statements, please contact your branch or the Member Service Centre at 1-855-220-2580.

Have Questions About the Upcoming Banking Conversion?

Don’t hesitate to get in touch. Our team is always happy to help.

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