COVID-19 Updates

As the COVID-19 situation continues to evolve, we want you to know that our top priority is the health and safety of our employees, our members and our communities and we want to do everything we can to keep them safe. We are also committed to serve our members and be there for those that need help. During this time, you can expect the continued ability to bank with us through our branches, phone or through digital channels.
Please find the latest information regarding branch hours and other measure we have taken in response to the evolving situation:

A message from Khalsa Credit Union CEO
Waheguru Ji Ka Khalsa Waheguru Ji Ki Fateh!

At Khalsa Credit Union with the awareness surrounding Coronavirus (COVID -19), we are emphasizing that the health and safety of our members and employees is always our top priority. We are also committed to providing the best possible service to our members. With the current concerns, we are taking the following precautionary measures in order to continue to operate safely and minimize the spread of the virus in our communities:

Public Health Agency of Canada (PHAC) recommendations:

We will continue to update you on further developments with respect the COVID-19. We encourage each member to review the information found in the link below, assess their own health:

Health Canada
https://www.canada.ca/en/public-health/services/diseases/coronavirus.html
World Health Organization
https://www.who.int/emergencies/diseases/novel-coronavirus-2019
Centers for Disease Control and Prevention
https://www.cdc.gov

Branch Services:
  • We have asked our janitors to increase enhanced deep cleaning and disinfection for our branches more frequently throughout the day.
  • Requiring staff to stay home if they are sick or have any symptoms.
  • We are asking members who are unwell and returning from outside of Canada to avoid visiting the branch and use alternative methods to bank with us.
  • Temporary Branch Hour Changes effective as of March 23rd, 2020 the Newton and 128th Branches will be open weekdays from 10:00 - 6:00 PM.
  • The branch hours may continue to change as we monitor this situation
Digital and Online Services:

Our goal is to keep all Khalsa Credit Union branches open and available to serve our members. However, we encourage our members to use online and mobile banking wherever possible to avoid unnecessary travel to their local branch. These platforms are available 24 hours a day/7 days a week for all routine banking needs. You can also contact us by phone(604-507-6400) and one of our branch staff will be happy to assist you.

Thank you for your patience as we make changes to provide you the best possible service during this evolving situation.

Jessie Kaur Sidhu, CEO


Khalsa Credit Union Virtual AGM

Please register for our virtual AGM being held on Sunday, June 14th, 2020 at 1p.m.



Current Government benefits and support available

The government support available to Canadians during this time is changing frequently. Below we have compiled a list of resources available:

CRA Direct Deposit
Get your benefit payments and tax free funds faster

Sign up for direct deposit now to ensure your benefit payments arrive sooner through our online banking.We can help you sign up for direct deposit or update your direct deposit information with the Canada Revenue Agency (CRA). We encourage you to use direct deposit to avoid any delays and receive your payments faster. Setup your direct deposit securely in 3 easy steps:

  • Step1: Login into online banking
  • Step2 : Go to 'Account services --> Setup CRA Direct Deposit'
  • Step3: Submit and then confirm by log in your CRA account directly

You can receive these CRA payments through direct deposit:

  • Income tax refund
  • Canada child benefit
  • Goods and services tax/haronized sales tax (GST/HST) credit
  • Canada workers benefit
  • Related provincial and territorial payments
  • The new Canada Emergency Response Benefit
Canada Emergency Business Account

The Government of Canada has launched the Canada Emergency Business Account (CEBA). This provides qualifying business owners with an interest-free, government-backed loan of $40,000 to help ease the financial strain incurred as a result of the COVID-19 pandemic.

Following the announcement on May 19th by the Prime Minister on changes to the Canada Emergency Business Account (CEBA), we are working on the implementation of the program expansions.
We are working with the authorities to operationalize these changes as early as June 9th. Other details are forthcoming from the government, and we will start offering CEBA under new provided criteria in the coming days. Please note if you are applying under the new CEBA announcement, we will connect with you as soon new program is finalized.
We look forward to bringing the latest version of CEBA to your business.

Thank you for visiting Khalsa Credit Union CEBA application page.

CEBA loan details:
  • Interest free loan until December 31, 2022
  • No minimum monthly principal payments required until December 31, 2022
  • Principal repayments can be made at any time
  • 25% up to $10,000 loan forgiveness is available provided outstanding balance is fully paid on or before December 31, 2022
Who is eligible?

Canadian-operated businesses that have federal tax registration and a payroll in the 2019 calendar year of between $20,000 and $1.5 million, verifiable by Canada Revenue Agency documentation (a T4 summary of remuneration paid, or T4SUM), are eligible.

Program eligibility
  • Must be an operating company (not a holding company) registered in Canada,
  • Have an annual payroll between $20,000 and $1.5 million based on its 2019 T4SUM Summary of Remuneration Paid. Member can contact CRA to have them reissued to the business.
  • Have KCU as their primary bank with good standing existing borrower and
  • Applicant must provide its business contact information, including an email address and phone number.
How to apply

We are accepting Canada Emergency Business Account (CEBA) applications through online banking (from your desktop browser and not through mobile app).
In case you don’t have online banking access then we will accept in person request at our branches.
Else, please call in to your respective branch on more information in filing CEBA Loan Application.
Submit your CEBA Application securely in 4 easy steps:

  • Step 1: Login into online banking from your desktop browser (and not through KCU mobile app)
  • Step 2 : Go to 'Account services --> Canada Emergency Business Account (CEBA)’
  • Step 3: Fill up the CEBA Application (takes aroung 5-10 minutes) – and provide Business details, your Information, CEBA Details and Attestation before confirming your submission
  • Step 4: Receive CEBA Application confirmation on browser screen as well in your registered mail id.
Canada Emergency Response Benefit

The CERB supports Canadians by providing urgently needed financial support to employed and self-employed Canadians who have been directly affected by COVID-19. It provides a payment of $2,000 for a 4-week period (equivalent to $500 a week) for up to 16 weeks.

Qualifying criteria
  • Residing in Canada, who are at least 15 years old;
  • Who have stopped working because of COVID-19 or are eligible for Employment Insurance regular or sickness benefits;
  • Who had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application;
  • who are or expect to be without employment or self-employment income for at least 14 consecutive days in the initial four-week period.
For more information and to apply visit:
https://www.canada.ca/en/revenue-agency/services/benefits/apply-for-cerb-with-cra.html

Employment Insurance

Employment Insurance (EI) sickness benefits provide up to 15 weeks of income replacement and is available to eligible claimants who are unable to work because of illness, injury or quarantine, to allow them time to restore their health and return to work. Canadians quarantined can apply for Employment Insurance (EI) sickness benefit

Qualifying criteria
  • You're unable to work for medical reasons
  • Your regular weekly earnings from work have decreased by more than 40% for at least one week
  • You accumulated 600 insured hours* of work in the 52 weeks before the start of your claim or since the start of your last claim, whichever is shorter

The one-week waiting period for EI sickness benefits will be waived for new claimants who are quarantined so they can be paid for the first week of their claim

For more information and to apply visit:
https://www.canada.ca/en/employment-social-development/corporate/notices/coronavirus.html

Enhancement to Canada Child Benefit

Government is providing an extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family.
This benefit will be delivered as part of the scheduled CCB payment in May.

Qualifying Criteria
  • Those who already receive the Canada Child Benefit do not need to re-apply.
For more information and to apply visit:
https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-apply.html

Extra time to file income tax returns

The Canadian Revenue Agency has deferred the filing due date for the 2019 tax returns of individuals.

https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update.html

Information & Support for International Student
Support for students and recent graduates

To support student and apprentice loan borrowers during the COVID-19 pandemic, the Government of Canada is putting the following measures in place from March 30 to September 30, 2020:

  • Suspension of repayments of Canada Student Loans and Canada Apprentice Loans
    • No payments are required on student and apprentice loans during this time
    • Pre-authorized debits will be stopped
  • No interest will accrue on student and apprentice loans
For more information visit
https://www.csnpe-nslsc.canada.ca/

Additional support available (Punjabi)
BC Emergency Benefit for Workers
Support for Family Caregivers
KCU Branch Hours

Khalsa Credit Union is ensuring our members have complete access to their accounts with while helping keep both our members and employees healthy. To limit exposure for both our members and employees, we are reducing the branch hours as follows until further notice:

Measures to safeguard our Members and Employees
  • Additional measures have been added in daily cleaning and sanitizing, with increased frequency and extra attention to high touch areas such as teller stations, telephones, door handles and ATMs
  • All employees are required to stay home should they feel sick, and to self-isolate for the recommended 14 days if they return from travel outside of Canada
  • Adjusting branch hours and services, if needed, based on the local environment.
  • We have temporarily suspended all in person trainings, events, seminars and have adjusted plans for all unnecessary group meetings.
  • Increasing social distancing measures by limiting the number of members in a branch at one time.
  • Hand sanitizers, Masks and gloves are available at all teller wickets and offices to be utilized and used as needed
Supporting our Community

As a financial co-operative owned by our members, KCU is committed to providing products and services that meet members’ evolving needs and contribute to their long-term economic and financial well-being. Giving back has always been a fundamental part of Khalsa Credit Unions philosophy as annually we strive to donate 10 % of our net earnings. In times like these, it’s more important than ever to provide this support.

As a member, you make it possible for us to give back to the community. We have worked on several initiatives including:

  • We made a significant donation to the Vancouver Foundation which is a Community Response Fund. This fund will provide immediate relief to organizations who provide front line services to people and community groups. These groups are addressing the immediate needs of low-income populations caused by COVID-19 related closures, including access to food, hygiene, housing, and other basic needs.
  • We donated over 10,000 items of personal protective equipment to hospitals including masks from our first aid supplies.
  • $3,000 donation to the Langara College Foundation to provide essential funds and a week’s worth of meals for at least 80 students
  • Donation of 10,000 meal containers for Guru Nanak’s Free Kitchen to be used to provide meals to international students

We know more needs will arise and Khalsa Credit Union is actively listening and responding. We are committed to doing everything we can to ensure our shared communities are taken care of in their time of need.

Payment deferral option

We understand and respect that these are uncertain times and we recognize the impact the COVID-19 is having on our communities. As a member centric financial institution, we are committed to working closely with every individual.
If you have been directly impacted by Covid 19 and are facing financial challenges, please let us know by reaching out to your local branch or Community Branch Managers. We know every situation is unique and we strive to work with our members who have been impacted to help identify a customized solution to meet your needs.

FAQ’s
What is being done to ensure safety of employees and members?

We have adjusted the branch hours and have taken a number of precautions including the following:

  • Additional measures have been added in daily cleaning and sanitizing, with increased frequency and extra attention to high touch areas such as teller stations, telephones, door handles and ATMs
  • All employees are required to stay home should they feel sick, and to self-isolate for the recommended 14 days if they return from travel outside of Canada
  • Adjusting branch hours and services, if needed, based on the local environment.
  • Hand sanitizers, Masks and gloves are available at all teller wickets and offices to be utilized and used as needed
  • We have temporarily suspended all in person trainings, events, seminars and have adjusted plans for all unnecessary group meetings.
  • Increasing social distancing measures by limiting the number of members in a branch at one time.
Where can I get up-to-date information about branch hours?

For updated branch hours please click on the following link

Updated Branch Hours
What can Khalsa Credit Union do for those who have been financially impacted by Covid-19?

We understand and respect that these are uncertain times and we recognize the impact the COVID-19 is having on our members. Temporary financial relief may be available to you, which includes options such as loan and mortgage payment deferral. We encourage you to contact your local branch or speak to your Community Branch Managers

How else can I do my banking?

The credit union offers a variety of services to access your account without leaving your home or office.
Internet Banking, Mobile Banking, Remote Cheque deposit, Interac-e-transfer
If you need additional information on any of these services, don’t hesitate to call us at 604-507-6400. We’d be happy to assist and get you set up using these services.

What is the best way to connect with the branch?

We will continue to provide essential services at the branch while also doing our part to put social distancing measures in place. At this time we are requesting members to please call us before visiting a branch. You can call your local branch at the number given below and we’ll determine how best to help you with your banking.

Branch Phone number
Vancouver 604-507-2304
Surrey 604-507-2312
Newton 604-507-2333
128th Street 604-507-2364
Abbotsford 604-507-2323
Victoria 604-507-2394