HOME THE ONLY THING MISSING IS YOU!

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1 HOME THE ONLY THING MISSING IS YOU!

2 We believe in you and Your home is an important investment, let us help you. Our experienced Professional Staff will work with you to choose the right mortgage options to best suit your needs. Save your hard earned dollars by paying off your mortgage more quickly Pay a little extra with each payment if you choose Pay off your mortgage years early! Pay down your mortgage as much or as little as you want - without penalty* PAY OFF your mortgage with your own cash - with no penalty* Payments that fit your lifestyle We pay you! You will receive a portion of your interest back through profit share Be mortgage free - sooner! * Provided funds come from your own resources. Call or come in today!

3 your financial dreams. Whether you re buying your first home or searching for your dream home, we can help! Everything you want in a residential mortgage for your home. A down-payment you can manage You can own your home with as little as 5% down* Pre-approval is simple and convenient Save time when you re shopping for a house by coming in for a mortgage pre-approval. You can shop confidently knowing that your funding is already in place! Peace of mind for you and your family You can protect your loved ones through life and disability insurances Convenience Property taxes can be included as part of your mortgage payment; you never need to worry about them *Encompass Credit Union Ltd. is a CMHC and Genworth approved mortgage provider

4 HOME Flexible Payment Options You can choose to make payments to fit your schedule and lifestyle. Payments can be made weekly, bi-weekly, twice monthly, or monthly. You can also decide to increase your payment if you d like to pay your mortgage off more quickly. We Pay You Profit Share! At Encompass, your mortgage pays you! You will receive a portion of the interest you pay on your mortgage back, through profit share. In 2015, we paid 9% Patronage to members with mortgages. That means that on an average $300,000 mortgage, more than $800 is paid back - to you! Half of this money is paid to your common shares and half directly into your account. Who doesn t like cash in their pocket? Property Tax Convenience! At your request, we will include an amount to cover your property taxes in your payment. The tax portion of your payment will accumulate in a special account, earning interest, and will be paid to the municipal tax authority when they are due. You never need to worry about saving to pay them - or even remember to do it! Your Mortgage can be Protected You can have peace of mind when you make sure your outstanding mortgage balance is protected by life and disability insurances offered through an affordable group policy. Insuring your Encompass Mortgage is an advantage and will help you protect your loved ones from unexpected events.

5 Did you know? Encompass is a Credit Union, that means we are a 100% member-owned Financial Institution. Competitive Interest Rate Options You can count on us to offer a variety of competitive interest rate options. The choices range from the flexibility of a short term open option, to your choice of fixed rate options from one to five years. The Encompass variable interest rate mortgage is based on the credit union prime lending rate. You can decide on a five-year term with a capped rate, or enjoy the ability to convert to a fixed rate at any time. Easy Mortgage Transfer It s easy to transfer your existing residential mortgage, and take advantage of the benefits of an Encompass Mortgage. Ask to meet with one of our experienced mortgage professionals and they will work with you through the entire process. We make it simple! Mortgage Portability You may be able to transfer the outstanding balance and the advantage of your Encompass mortgage from one home to another within the province of Alberta. If you are a military member or a member of the RCMP, you may be able to continue with the same interest rate, term, and payments when you relocate. We can help you decide if this is the best option for you, if it will save you money it just makes sense. askus@encompasscu.ca for more information!

6 Did you know? In 2015, an average $300,000 mortgage received more than $800 in Patronage. The Encompass Mortgage Advantage Pays You! As a member owner, you receive a piece of our financial success. In 2015, we paid 9% Patronage to members with mortgages. Profit Share is paid each year based on our financial success. It is shared with you as Patronage, through dividend, bonus interest, and a rebate on any loan interest you pay. Half of these dollars are paid directly to your account, and half are added to your common share balance. The remainder of our profits are kept as retained earnings so we can grow and provide value to our members and communities into the future.

7 Becoming a Member is easy! We believe in providing value to our communities - whether that is through community support or helping you with your financial well-being. All you need is $5 to purchase common shares and you ve become a member. It is that easy! Come into any one of our branches today to become a member! Benefits of Membership: As a member you have voting privileges at our Annual General Meeting, where you help select members that represent you on our board of directors. The Board sets the direction we take as a credit union and oversees the well-being of all our members money.

8 (The only thing missing from this picture is you!) The Encompass Mortgage Advantage has a 100% prepayment privilege on our residential mortgages! You can save money by paying off your mortgage more quickly. Make lump sum payments, increase the amount or frequency of your payments... all without penalty. If you sell your home at any time, you can pay your mortgage off without paying a penalty*. This can save you thousands. * Provided funds come from your own resources.

9 HOME Mortgage Pre-approvals Are you tired of paying rent and think it s time to take steps to buy a home of your very own? You re probably asking yourself questions like: Where do I start? How much can I afford? Who do I talk to for advice? Come in and talk with one of our experienced Mortgage Professionals. Our simple pre-approval process will help you to determine your needs and decide what you can afford. Come in and see us before you start house hunting, we re happy to help! By meeting with your Mortgage Professional first, you and your realtor will have a better understanding of what homes to look at, within your price range. You ll be able to move quickly and make an offer when you find the home of your dreams. Subject to Financing Even though you have a mortgage pre-approval in place, the home you purchase plays a role. As soon as you make an offer, call your Mortgage Professional to discuss details in order to get the final steps approved. Once all requirements are in place, the rest of the process will go quickly. Did you know? Credit Unions are co-operative organizations that work toward improving the lives of their members and helping the communities they serve, grow, and prosper!

10 Not an Encompass Member yet? Choose the Encompass Account that s right for you! Personal ssential This account lets you manage your finances with a pay-as-you-go approach that means you only pay for what you use! $5 a month Includes 20 FREE specified debits* per month and any extra debits are just $0.75 each Over the counter bill payments are just $1.50/bill internetbanking access, transfers, bill payments and more... FREE Personal xtra If you have a little extra volume each month, then this account was made with you in mind! $10 a month Includes 50 FREE specified debits* per month and any extra debits are just $0.75 each If you keep a $3000 minimum balance in your account, we ll waive the monthly fee! Personal lite The perks and benefits of this exceptional account will have you walking on air! If you have a high number of transactions every month, then you ll love this account. $18 a month UNLIMITED specified debits* If you keep a $5000 minimum balance in your account, we ll waive the monthly fee! It s not a savings account but we ll pay you interest on every dollar over $5,000 Interest calculated and accrued daily; paid monthly INTERAC e-transfer Send and receive Interac e-transfers with any of these accounts!

11 Did you know? We offer a variety of savings accounts, card products, and other services. Including MemberCard, Global Payment MasterCards, and Credit Cards. Pay it Forward! We value your membership! Do you feel we could provide value to your family and friends? Pass this to them and when they bring it in, this $5 will invest in the common shares needed to open their account! i To become a member bring this in to your local branch or tell a friend! Any credit union ATM is YOUR credit union ATM! Just look for this symbol. Download the Dingfree app! eservices such as Direct Alerts, Interac e-transfer, our Go mobile app, and mobilebanking all make banking easier and more accessible. These are just a few of the ways in which the credit union is revolutionizing the way you bank. The Credit Union Deposit Guarantee Corporation of Alberta oversees all Alberta Credit Unions and ensures that they are in compliance with the Credit Union Act. The Credit Union Deposit Guarantee Corporation guarantees the repayment of all deposits with Alberta Credit Unions, including accrued interest. Additionally, the Credit Union Act provides that the Government of Alberta will ensure that this obligation of the corporation is carried out. ** *Go to encompasscu.ca to learn more! **Find out more at

12 So, you want to build a home? The Encompass Residential Construction Mortgage is an advantage to our Members! Pick a Plan Choose a home plan that you want for your land, and purchase blueprints, or chose one with your builder. Determine square footage, and make decisions that will affect cost, including finishes. Visit your Credit Union Our Experienced Mortgage Professionals can walk you through the process and give you homework to help streamline the process. Your Mortgage Professional will help you determine what kind of approach will work best for you, and help you to determine the next step. Your Mortgage Professional will calculate the maximum mortgage that you can qualify for and let you know what the approximate mortgage costs will be.

13 Did you know? Every new home built in Alberta is required to be protected under warranty, thanks to Alberta s New Home Buyer Protection Act. Go to encompasscu.ca to learn more! Price out the Property If you have funds from your own resources, you can purchase the land on which the home is to be built in advance of the construction mortgage being written. This can be considered part of your equity. However, we do not recommend that you purchase your lot prior to a mortgage being approved. Obtain a Contractor s Quote and Prepare a Cost to Complete This will help you to determine how much money you will need to build your home and complete the project. Remember to include GST. This takes into account everything from installing the services if your land requires that, to the interior and exterior finishes, to roof system, flooring, fixtures, and even landscaping. Cost to complete form can be provided upon request.

14 HOME Obtain an appraised value Take your quote with the plan or blueprints to a certified appraiser and request a Blueprint Appraisal. This cost will be your responsibility, and the same appraiser must be prepared to come out to do progress inspections during your building project. You will need to provide the appraisal firm with specific information including your contractor s quotes and material specs in order for them to determine a value. The reason is that there are so many factors that affect the value of a finished home. Visit your Credit Union Mortgage Professional a second time Once you have done your homework and provided your Mortgage Professional with the information they requested at your first meeting, we can begin to put an application together. Now that you have established what your home will cost you and what the finished value would be, bring your information to your Mortgage Professional. At that point, we can do our best to structure a construction mortgage to suit your needs. We have multiple financing options including Genworth Financial, CMHC or Conventional financing. Only after approval has been provided, can Confirmation of Financing be provided to your builder or contractor. Once you ve bought your home: Sometimes moving can be more overwhelming than actually buying the house so we ve compiled a basic Moving Checklist to help get you started and to give you some extra peace of mind during your move. Visit encompasscu.ca to print it out!

15 Registering your Mortgage Your mortgage must be registered with Land Titles by your lawyer, and these costs are not included in your mortgage amount. No funds can be advanced from the mortgage proceeds before the mortgage has been registered with Land Titles; this process usually takes two to three weeks. Advancing your Mortgage Your signed contract with your builder or contractor will outline how much they will be looking for at particular stages. You credit union will advance funds on a Cost to Complete basis, usually in five advances. Basement / Backfill Roof On Lockup Did you know? Through the democratic process outlined in our Bylaws and the Guidance of the Credit Union Act of Alberta you, as a member, help control the financial destiny of all members. They are loosely termed as: Finish Holdback funds released Drywall Your own funds must be fully used first, and then we will begin to advance the mortgage funds. The process is that the appraiser who completed your blueprint appraisal must go out and inspect the work. We will be provided with a Progress Inspection, and we will advance funds based on the percentage of work completed, less a 10% holdback amount. For example, if the home is 61% complete we would advance funds to reflect that. The 10% holdback amount will be released in one lump sum 45 days after the final inspection of the completed home. Your Mortgage Professional will discuss this process in detail with you during the application process. We understand that this is a very involved process, and it can become very complicated! It is our hope that following the steps outlined above will help to streamline your building project. Please do not hesitate to contact your Mortgage Professional at any time with questions, and they would be happy to help you find the answers.

16 nriching our Communities! We are proud to support local projects and organizations. At Encompass Credit Union, we enrich our communities through sponsorships and donations all year long. The Community Support-o-Meter is the increasing measurement of the sum total of these contributions. Watch as this new measurement of Encompass Community Enrichment grows from a sapling to a tree throughout 2016! Did you know? In 2015, we paid more than $1.5 million in Profit Share to YOU, our members. $51,790 in accumulated Community Support as of February 11, Accumulated Community Support as of October 31, 2016

17 Your community group can apply for a grant any time during the year! Community Social Responsibility Investment Program In 2010, we announced our Community Social Responsibility Investment Program. As a socially responsible organization, we ve always been here to help our community. In times like these, when needs increase, our commitment to our community is strengthened. We created the Community Social Responsibility Investment Program with the intention to help provide support for our communities. We offer grants to community organization projects or programs that will improve the community for the social benefit and well being of all citizens. Typically, these grants are designed for larger requests that would fall outside the usual ones from minor sports and other charities. Applications can be submitted for any funding amount up to a maximum of $10,000 per grant. If you are a community organization in need of support for a program or project that will improve the social benefit or well being of the community, contact us or visit your local branch today! askus@encompasscu.ca for more information!

18 Our xceptional staff have a wealth of advice and suggestions to help you during this exciting time. You can feel confident with our help in buying your home. We offer many extraordinary options that are uniquely The Encompass Mortgage Advantage, providing an exclusive experience to our members that set us apart from other financial institutions. Our Mortgage Professionals are here to help you! Come in today for excellent advice on the best choices for you! Need more advice on Buying vs Renting? Interested in our Moving Checklist? Want to try out our Mortgage Calculator and other tools? Find all this and more on our website! askus@encompasscu.ca for more information!

19 i Go to encompasscu.ca i i i Click on Planning & Advice Click on Stages in Your Life Click on Buying a Home HOME

20 We re easy to reach us at or contact your local branch: Wainwright Wetaskiwin Chauvin Consort Edgerton Hardisty Hughenden Irma Administration Office Street Wainwright, AB T9W 1P4 Tel Fax Toll Free Regional Office Main Street Wetaskiwin, AB Tel Fax Toll Free encompasscu.ca