Thursday, April 22, 2010

Spring Raffle Winners

Our Spring Raffle has come to a close and we would like to take the time to congratulate the following winners:

King St Branch
BBQ – Robert Reid
Home depot Gift Card – Al Gallant
Tim’s Card – Harvey Smith
Tim’s Card – Jose Gomez
Tim’s Card – William Guigue

Mohawk Branch
BBQ – Jack Lambie
Home depot Gift Card – John Scott
Tim’s Card – Monique Vaughan
Tim’s Card – William Carter
Tim’s Card – Kimberly Czajkowsky

With all of your help HCCU was able to raise over $1000.00 for the Cancer Assistance Program.

Monday, April 19, 2010

Update - Haiti Relief Effort through CanHelp & The Canadian Red Cross

Below is an excerpt from OCUCF Newsletter dated April 16th 2010

Thanks to so many generous credit unions and their members, the Foundation was able to raise over $75,000 towards the Haiti Earthquake Relief effort through the Canadian Red Cross. Much of this amount was eligible for the matching program through the Federal Government.


Hamilton Community Credit Union was able to donate $1,000.00 to help towards this important cause.

Wednesday, April 14, 2010

Interest Rates on the Rise.

The article below was published last week in the Financial Post regarding the recent hike of mortgage interest rates.

Bank of Montreal completes the count: All Big Five banks raise five-year rates

With a late-day announcement yesterday, Bank of Montreal became the fifth of Canada's Big Five banks to raise its mortgage rates this week. BMO hiked its five-year fixed-rate closed-term mortgage by 60 basis points to 5.85%, matching increases announced earlier in the day by Canadian Imperial Bank of Commerce, Bank of Nova Scotia, National Bank and Desjardins Group. Royal Bank of Canada, Toronto-Dominion Bank and Laurentian Bank announced on Monday that their benchmark five-year rates would increase to 5.85%. "The era of historically low mortgage rates is coming to an end," said Sal Guatieri, senior economist, BMO Capital Markets.

I beg to differ Sal. At Hamilton Community Credit Union our Five Year Closed mortgage rate is at 4.15%, still near our historic lows. That’s a difference of 1.70% from the big 5 banks.

Better yet HCCU is currently offering a promotion on our mortgages. Yes it gets better.

If you apply for a mortgage before June 1st you can take advantage of our introductory interest rate of 1% for the first four months of your 5 year term. After the four months the interest rate will adjust to whatever our 5 year rate is at that time, currently at 4.15%, to a maximum of 4.50%.

Apparently the era of historically low mortgage rates is still alive at HCCU.