Planning For Your Potential

For more than a year, we’ve physically distanced our way through a time commonly described as “unprecedented”. While there was no way to anticipate the events of the last year, the organizations and individuals who had a plan in place were in a better position to weather what has been a lengthy period of unrest.

In 2020, a foundational business continuity plan enabled our team to quickly adjust and respond with a focus on safety, service, and strength. And despite not knowing the specifics in advance, having planned for the possibility of a major disruption put us in a better position to remain focused on what and who mattered most. It’s a story as applicable to business operations as it is to personal finance.

So far in 2021, I’ve talked about spending, saving, borrowing. This month’s theme is planning. Together, these topics represent the four components of financial health. Planning encompasses what’s likely to happen in the future based on present-day behaviours such as having a budget, setting short- and long-term goals, having appropriate insurance coverage, and being actively engaged with your account transactions.

The 2020 Financial Stress Index found an interesting connection between Canadians’ beliefs and actions around money and stress. For the most part, people take action if they believe the effort will pay off. Still, gaps remain in the areas of saving for an emergency and having a financial plan—both are critically important. According to a 2019 report, more than three quarters of Canadians may face financial challenges in the face of unexpected event such as the death of a loved one, a medical emergency, or serious accident.

If you’re one of the 8 in 10 Canadians who experience stress because of your finances, having a solid financial plan could be the key to minimizing those feelings. Having the financial capacity to do what you’re dreaming of in the future is a great reason to get started. Another reason is to gain greater understanding of your own banking needs. To that end, I’m pleased to share we recently launched the CUA Best Fit Account Guarantee—another way we can help you plan for the future through understanding your present financial situation.

If you have questions about your account or how to make progress with financial planning, connect with a member of our team online, by phone at 902.492.6500 or via email at On behalf of the entire team at CUA, thank you for your continued business. I hope you’re staying happy and healthy while enjoying the early days of spring.

Your CEO,

Marie Mullally
President & CEO
Email Marie

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