Creating an estate plan involves working with several professionals to ensure your plan is legally sound, comprehensive, and tailored to your goals. Here’s who you may need to collaborate with:

As we head into the summer, we know that September will be here before we know it. And with that, many high school graduates will be heading off to post-secondary, and many parents and caregivers will be supporting them financially.

To no surprise, the cost of post-secondary education in Canada continues to rise.

What’s the Big Deal?

The news coming out of the USA that up to $10,000 of student debt was being eliminated for most students by the government has dominated the news these days as we once again approach the beginning of school.

And it’s no wonder why that’s such a big deal as post-secondary costs continue to rise not just in the USA, but right here in Canada.

With the current low mortgage rates, I am finding a lot of my members have the same question: should I try pay down my mortgage faster, or should I start/continue investing in my future? My answer is always the same: it depends! The reason I cannot give a definitive answer is due to the number of factors that make each of us unique. In this blog, I would like to share some of the factors I consider when giving advice to my members, and I am hoping I am able to help more people make the decision that is right for them.

“An ounce of prevention is better than a pound of cure.” So said Benjamin Franklin, who didn’t have to live through 2020 and eat his way through 32 pounds of home-baked bread. But he was on to something. What he suggested was that we should deal with a problem by putting in a bit of time and planning upfront, instead of constantly ducking like we’re living in a real-life game of whack-a-mole.

The global pandemic has changed our lives. As we stay home and adjust our lives to suit our new physical and financial realities, many of us are wondering about our financial future. Every week I hear from Members asking important questions: What will happen to my investments? How can I plan for life after the COVID-19 crisis? The good news is you can plan for life after the pandemic.

What does truly local banking mean to you?

At many banks, it could mean the ability to walk into a branch located in your community. And while we agree with that, at PenFinancial, it also means that we reinvest significant portion of our profits directly back into the local communities in Niagara, like Fonthill.

The rest of our profits? Well they go back into the products and services right here at PenFinancial, Niagara’s truly local Credit Union.

Remember back in the day? “But wait… there’s more! With only 10 easy payments of $19.99, you receive not one, but TWO snuggies!”

The idea of making small and easy payments after receiving an item was almost thought of as a bit of a joke or meme.

However, I recall a couple of years ago purchasing an iPhone on the Apple website. On the checkout page, I was surprised to see the option of paying it off in 4 equal monthly payments. No fees or interest, they said. Lately, I’ve started seeing this option on more and more websites: Wayfair, Amazon, Best Buy.

When it comes to personal finances, Canadians have a lot of choices. It can be overwhelming. While there are plenty of options to choose from, have you considered a credit union?

Credit is a staple in our modern world. And many of us have been impacted by the COVID-19 pandemic over recent months. As businesses begin to open up, we thought it would be an appropriate time to discuss some ways to improve your credit score. Gone are the days of buying a home with two bags of flour and a handshake. You need credit to qualify for big-ticket items like cars and homes, and often for smaller items, like mobile phones. Your credit score determines whether financial institutions and other lenders will give you money for such purchases.