COVID-19 Update

Your health and safety is important to us

The health and safety of our members, employees, families and communities are our top concern. We are pleased to serve our members from 9:30am to 4:00pm at the Water St Branch and the Pleasant St Branch but continue to encourage our members to perform their everyday banking online or at an ATM, where possible. Staff can also assist members at an ATM during these hours if needed.

The Beaubear Credit Union team continues to be available Mon - Wed from 9:00am - 4:00pm and Thurs & Fri from 9:00am -5:00pm to  support our members by phone and digitally. We encourage members to access their everyday banking by phone, online, mobile app and at an ATM. If you are unable to do so, please contact us for assistance. Call 506-622-4532 or email: beaubear@beaubear.ca

 

A Message from our CEO, Tosha Hamilton

CPRP-COVID Payment Relief Program Expand/Collapse

We understand that you may be experiencing financial hardship as a result of COVID-19. We are working diligently to minimize impact for members and are here to support during this difficult time.

We are committed to working with personal and small business members on an individual basis to provide flexible solutions to help those have been impacted by the financial challenges associated with COVID-19.

To support this, we are offering several options for members. We encourage you to reach out to us directly to discuss your individual situation to determine the best solution for you.

FOR INDIVIDUALS

Mortgages
Members holding residential mortgages may be eligible for a deferral of payments for up to six-months.

Term Loans
Members with personal term loans may be eligible for a deferral of payments for up to six-months.

Lines of Credit
Lines of credit and increases to personal lines of credit are available on an individual member basis.
An Emergency Line of Credit may be available to members who hold existing mortgages with us.

FOR BUSINESSES

Business members may be eligible for a deferral on their line of credit, loan and mortgage payments for up to six-months.

Contact Us

If you have been directly impacted by COVID-19 and are facing financial challenges, please reach out by contacting us at 506-622-4532 or beaubear@beaubear.ca. You may also complete the Financial Relief Form (save the completed form as a PDF before emailing)  and email it to us at beaubear@beaubear.ca  and we will follow up with you directly.

We are committed to working through this together!
GENERAL INQUIRIES: 506-622-4532

COMMERCIAL ACCOUNTS:
LORIE ANN RICHARD 622-9318
DAWN HANNAH 622-9320

PERSONAL ACCOUNT MRGS:
CATHY MACDONALD 622-9321
KYLA MAZEROLLE 622-6916

Canada Emergency Business Account (CEBA) Expanded Expand/Collapse

Update (October 29, 2020): The Government of Canada have expanded the Canada Emergency Business Account (CEBA) Program to support small businesses who open a business chequing/operating account after March 1, 2020. These businesses may now be eligible, should they pass other pre-funding validation checks in place in previous versions of CEBA.

The application deadline has been extended to December 31, 2020.

Determine if you may meet the CEBA eligibility requirements using the EDC CEBA pre-screen tool here.

If you may be eligible, contact us at 506-622-4532 or email beaubear@beaubear.ca to open a business chequing/operating account.

To apply for the CEBA Program click here.

A future expansion of the program will enable businesses eligible for CEBA loans—and that continue to be seriously impacted by the pandemic—to access an interest-free loan of $20,000, in addition to the original CEBA loan of $40,000. This expansion will also be available to new CEBA applicants. We will share more details as they are announced by the government.

CEBA 4.0 Expand/Collapse

The Government of Canada has launched the Canada Emergency Business Account (CEBA) to support businesses and non-profits that have been adversely affected by COVID-19. Eligible businesses will receive a $40,000 loan for immediate financial support to cover short term operating expenses, payroll, and other non-deferrable expenses which are critical to sustain business continuity.

We are accepting applications for the CEBA loan program on behalf of the Government of Canada and Export Development Canada (EDC) until December 31, 2020. To apply, please complete the following:

  1. Complete a government pre-screening to see if you may be eligible for the CEBA Program. If you may be eligible, you will receive a 10-digit pre-screen number.
  2. Open a business account. A business account is required to qualify for the CEBA program. Contact us at 506-622-4532 or email beaubear@beaubear.ca to open your business banking account.
  3. Submit your application by clicking here.


Frequently Asked Questions:

What is the CEBA program?

Up to $40,000 interest-free loan to help you cover operating costs you were not able to defer because of COVID-19.

25% (up to $10,000) of the loan proceeds is eligible for complete forgiveness if loan is repaid on or before December 31, 2022.

If the loan cannot be repaid by December 31, 2022 it can be converted into a 3-year loan with a fixed interest rate of 5% per annum.

How does the CEBA loan work?

The loan will be funded as a term loan (up to $40,000), 0% interest and no payments until December 31, 2022.

No interest will apply until January 1, 2023.

Beginning January 1, 2023, interest accrues on the balance of the term loan at a fixed rate of 5% per annum, payable monthly on the last day of the month.

If you pay 75% of the balance of the term loan on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $40,000 on January 1, 2021 and you repay $30,000 on or before December 31, 2022, the remaining $10,000 will be forgiven.

If you do not repay the 75% of the balance of the term loan on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.

What are the eligibility requirements?

The CEBA application process follows one of two streams:

  • (i) the Payroll Stream (Applicants with employment income paid in the 2019 calendar year between Cdn. $20,000 and Cdn. $1,500,000)
  • (ii) the Non-Deferrable Expense Stream (Applicants with Cdn. $20,000 or less in total employment income paid in the 2019 calendar year).

Regardless of your stream, every applicant must meet the following criteria:

  • Has an active CRA Business Number (BN) with an effective date of registration on or prior to March 1, 2020.
  • Filed an income tax return with the CRA with a tax year ending in 2019 or, if its tax return for 2019 has not yet been submitted, 2018.
  • Has an active business chequing/operating account with the Lender at the time of applying for CEBA. Note: If Borrower currently does not have a business chequing/operating account the Borrower must create one at their primary financial institution before applying for CEBA.  
  • Has not previously used the Canada Emergency Business Account Program and will not apply for support under the Program at any other financial institution.
  • Intends to continue to operate its business or to resume operations.

Note: a non-profit organization, registered charity, union, or a fraternal benefit society or order, or an entity owned by such an organization, is excluded from CEBA unless the entity is actively carrying on a business in Canada (including a related business in the case of a registered charity) that earns revenue from the regular supply of property/goods or services;

If you fall into the Non-Deferrable Expenses Stream you must also meet the following criteria:

  • Have eligible non-deferrable expenses between Cdn. $40,000 and Cdn. $1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.

For more information on the CEBA Program, visit the Government of Canada website.

506-622-4532 or email beaubear@beaubear.ca

Before proceeding with your CEBA application and to help avoid delays in processing, please read the following, and reference as needed to complete the application process.

CEBA Upload Guide
FAQ's

Note: Please be advised that by clicking on the link below you will be taken to an external site.

Online Application – Apply Now


If you have applied for CEBA and have questions, please contact the new CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application. The CEBA call centre is open Monday to Friday from 8:00 am to 9:00 pm EST and can address the following types of questions:
- What is the status of my application?
- Was my application declined?
- Why was my submitted document rejected?

Changes to our Branch Network Hours Expand/Collapse

We have made temporary changes to our branch network. Please click here for more information.

We encourage members to access their everyday banking by phone, online, mobile app and at an ATM. For any inquiries you can also reach us here:

Digital Banking Options Expand/Collapse

You can also access your account 24/7 through our Beaubear Credit Union mobile app and online banking. Online banking and our mobile app offers you a safe, secure and easy way to complete your day-to-day banking needs such as:

  • Check account balances
  • View recent transactions
  • Make bill payments
  • Send an Interac e-Transfer®
  • Transfer money between your accounts
  • Deposit cheques

Please click here to sign in to your online banking account. If you are not currently registered for online banking you can sign up for access here. Or you can call us at 506-622-4532 and a member of our team would be happy to assist you with this.

New to online options? Here are How-To Videos and Guides to help:

We have created a convenient page of tutorials to help you navigate our online banking options. Click here

Mobile Banking App: A short video about our mobile app and how easy it is to access your finances online.
Online Access: An overview of online banking and how to access to your account 24/7.

Protect Yourself from Fraud Expand/Collapse

Unfortunately, scammers will try to take advantage of situations like this.  Please remember that we will never send you unsolicited emails asking for personal identification such as passwords, PINs, social insurance number, credit card or account information.  Beaubear Credit Union wants you to know that we take the safety and security of your information seriously.  If you ever receive an email that appears to be from someone at our branch, please call 506-622-4532 or send us an email beaubear@beaubear.ca  to confirm whether the email is legitimate before responding.

We’re here to serve you

If you have questions about your banking services, we’re here to support you.  Please contact us using the method that works best for you.

Note: The health and safety of our people, clients and visitors is our top priority. We kindly ask that you do not come into our office if you are experiencing flu-like symptoms; you have travelled outside of Canada (including the US) in the last 14 days; or you know or suspect you have been in close contact with someone who has been diagnosed with COVID-19. We would be pleased to connect with you by email, phone or video conference. Thank you for your understanding and cooperation.

We also want to assure you that we are taking additional precautions to keep our branches clean including implementing deeper cleaning procedures and are in the process of providing additional hand sanitizers. We are actively monitoring the situation and will take guidance from public health authorities as we look to keeping you informed.

For more information on COVID-19, please visit the following websites:

New Brunswick Public Health

World Health Organization (WHO)

Government Travel Advice and Advisories