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FAQ

General FAQ

1. Who can join TCTCU?

Individuals of Taiwanese origin and their immediate family, as well as businesses/organizations belonging to them

2. How do I open an account?

Accounts must be opened in person at our branch. Please bring 2 pieces of identification and $500 for member share/capital. As share capital, the $500 will not be available in your balance but is refundable upon withdrawal of membership.

3. Are there any fees or minimum balance for personal chequing accounts?

There are no fees or minimum balance required for personal chequing accounts.

4. What services and products are offered by TCTCU?

Chequing and savings accounts for individuals and businesses
Online banking
Term deposits and GIC
International wire transfers
Currency exchange (USD and CAD)
ATM services
Qtrade

5. What bank machines provide free withdrawals and deposits to TCTCU member?

In Canada:

HSBC
National Bank
Citibank
Manulife Bank
Citizen Bank of Canada
Alterna Bank
Canadian Western Bank
Any Credit Union ATM

6. Where is TCTCU's office?

We are located on the 3rd floor of Metro Square in suite 305.

7. What is a Scholarship GIC?

A Scholarship GIC allows parents and grandparents to save for a child’s education through a term deposit* with an interest rate that increases by 0.1% with each year that the term is renewed, up to a maximum of 10 years.

*Minimum deposit is $500.

8. What is a Target GIC?

Target GIC is a term deposit inwhich equal deposits are made each month for 12 months, with interest rates increasing after every month.

Business Accounts

9. What services do you get with TCTCU business account?

Chequing and savings accounts with monthly statements and cheque images
Currency exchange
Wire transfers
Certified cheques and bank drafts

10. What is Merchant Service Inc.?

Merchant Service Inc. provides debit and credit card POS transaction processing to businesses with fees starting as low as 1.64%, up to 2%.

Board of Directors

11. Who can serve on the Board?

Members from the local Taiwanese community who are interested in volunteering as Board members should be prepared to commit time to attend monthly board meetings, as well as helping out at our other events throughout the year.

12. How do you become a Director or Committee member?

Notify our office of your intention to run for Director before our Annual General Meeting, or ask members to nominate you as a candidate. You will be asked to make a short speech about yourself and why you would make a good Director.

TCTCU reserves the right to change without notice