I’m sure many of you were excited to see and experience the near-total solar eclipse last week, which is a natural time for both reflection and change. Just as the moon momentarily obscures the sun before returning to full strength, we each have the opportunity to pause, assess and realign our goals, including those around our financial health. 

In banking and financial services, April is always considered “tax season,” as individuals and businesses finalize their tax returns for the previous year. In 2023, the Canada Revenue Agency distributed more than 18 million tax refunds to Canadians, with an average refund amount of $2,262. This may be welcome news for some Nova Scotian families who are struggling to make ends meet and relying on credit for daily expenses. While the good news is that inflation has started to slow through late 2023 and the first few months of 2024, the high inflation and interest rate environment has had a significant impact.

If you are anticipating a tax refund, we’ve put together a great resource for you with our top five recommendations of how you can wisely use your money. And of course, our financial advisors are always here to provide you with more custom advice, whether that’s taking advantage of a refund or addressing concerns around paying for owed taxes. As the Canadian economy continues to rebalance, our goal is to ensure our members have a solid financial foundation and are confident in the options available to them moving forward.

In recent news, I’m very pleased to announce that we have selected the recipients for our 2024 Community Investment Grant Program. We had an incredible response to the Program this year, with a total of 479 applications received from across the Province. The final selection was led by our Member Advisory Council, and we have an amazing group of individuals, small businesses and organizations who are all embarking on transformational projects and initiatives that will strengthen their communities. A huge congratulations to each one of our recipients. I also extend my thanks to everyone who applied, shared our posts on social media or told a friend or colleague about the Program. It is this effort and support that makes the Program such a success.  I encourage you to take a look at our complete list of grant recipients to see what organizations are based in your neighbourhood.

I’ll conclude with a reminder that you’re invited to attend CUA’s Annual General Meeting (AGM), which is quickly approaching on April 30. This is a great opportunity to hear about what CUA accomplished in 2023 and what we have on the horizon for 2024. You’ll also have the chance to win a gift basket of items from some of CUA’s small business members valued at $250 – our thanks for choosing the better way to bank! The event will begin at 7:00 p.m. and will be held at Brightwood Golf Club in Dartmouth. All CUA members are welcome to attend.

As we continue to move through this season of change, I invite you to purposefully examine your own financial health, so you can move forward with clarity, growth and confidence. For any assistance with developing a plan, you are welcome to connect with us at any time, by phone at 902.492.6500 or by email at info@cua.com.