Member Notices

Board of Director Election Results

May 6, 2019 - Last October, the Kootenay Savings Nominations & Elections Committee put out a call for candidates interested in joining the Board of Directors. As a result, an election was held on April 10 & 11, 2019. At our AGM on Monday April 29, the following results were shared with the membership.

  • Roberta Schnider, has been elected by acclamation and will represent Area D Region. This area covers the communities of Kimberley, Cranbrook, Invermere and Radium Hot Springs, plus East Kootenay Electoral Areas C, E, F and G.
  • Ron Anderson has been re-elected and will represent Area B Region, covering Castlegar, Nelson, Salmo, Grand Forks, Christina Lake and Central Kootenay Electoral Areas A, E, F, G, I and J and Kootenay Boundary Electoral Areas C and D.
  • Mark Martin, Mike Konkin and Owen Morris have been elected Directors-at-Large.
The Board of Directors would like to extend warm thanks and appreciation to Am Naqvi for his nine years of dedicated service to Kootenay Savings.

We are also pleased to announce that members have passed a Special Resolution approving amendments to the Kootenay Savings rules to add "electtronic means" as an additional method of voting in future elections. This will allow us to offer members the convenience of online voting in addition to the current methods of voting, in branch and by mail.

We thank all members who took the time to cast a ballot and exercise their right to vote.

Electronic Tax Receipts Now Available

February 4, 2019 - We’re pleased to announce that electronic tax receipts are now available through online banking. Access your current year’s tax receipts as well as any you received in past years. To find out how to access your electronic receipts or to opt out of receiving paper copies in the mail, please click here.

Statistics Canada Withdraws Data Collection Plan

UPDATE - December 5, 2018 - The federal agency has announced it will suspend its pilot project of obtaining personal financial information from financial institutions after concerns were raised over the privacy implications of collecting this data. Information on the full story can be read below.

UPDATE
November 13, 2018 - See the letter from Canadian Credit Union Association's CEO to the Privacy Commissioner of Canada here

November  2, 2018
- In a recent news story, Global News reported that Statistics Canada is planning to collect individual financial transaction data and sensitive information from Canada’s nine largest financial institutions – bank, credit card companies and “other organizations that may process financial transactional data” beginning in January 2019. Their intent is to create a database of financial transactions in order to obtain detailed and accurate data about the economy.  StatCan is citing low response rates to surveys and their need for accurate and reliable data to support good decision making, as the reason for using this method of data collection.

Please rest assured we take our members financial privacy very seriously; it is of utmost importance to our business. The Canadian Credit Union Association has been in contact with StatCan to find out more information and whether credit unions will be approached for similar data on their members.  At this time, we are unaware of any credit unions that have been approached by StatCan.  Credit unions will share member information only if obligated by law.

We will continue to monitor this situation and provide updates as we know more.

Phone Scam Alert

November 1, 2018 – Please be advised we’ve had a few reports of members receiving automated phone calls showing a call display from Kootenay Savings.  Kootenay Savings is not associated with these calls and does not use automated phone calling to members. If you receive a similar call, please hang up immediately.  For more information on this scam and other types of fraud, please visit the Royal Canadian Mounted Police and Canadian Anti-Fraud Centre websites.

Online Banking Security Enhancement

February 28, 2018 - As of February 28, we’ve added a new layer of security to online banking to improve both your banking experience and protect you from fraud. This level of security is known as MemberDirect® Risk Engine.

This improvement allows the Risk Engine to control how often to ask “Security” questions.  The Risk Engine is able to do this based on the usage pattern on your device, location and other behavioral  patterns that assist in identifying and preventing fraudulent activities on your account.

You will likely notice that your security questions are being asked less frequently, particularly from devices you regularly use.  If using a new device or one you don’t use frequently, you will likely be asked to answer a security question. Another change to note is that you will no longer be prompted to register your computer.

Our goal is to ensure you always feel protected when banking online.  Please call us at 1.800.665.5728 or contact us should you have any questions or concerns.