Business Account Packages. page 1 / 8

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1 Business Account Packages page 1 / 8

2 Business Interest-Bearing Operating Account Packages combine the convenience of an operating account with the ability to earn interest. There is no charge for electronic transfers, deposits, or assisted bill payments, and no minimum balance required. Chequing Accounts Pay as You Go Business Package A pay-as-you-go package for businesses with minimal activity on their account. You make your money work for you by only paying for what you use. $30.00 Business Package One convenient value-packed fee takes care of all your business banking - so you can look after all your business. Now that's just GOOD business! Interest Tiers for Interest-Bearing Operating Accounts Tiered interest is calculated on daily closing balances, so as your account balance increases, so does the interest rate. 0 - $4,999 $5,000 - $99,999 $100,000+ Coin Sorter Machine Why waste time rolling coins? Our automated coin machine takes in all your coin and gives you a slip to take to the teller - all in moments. Just think of how much time you'll save by not having to sort and roll your coin! Business Loans & Mortgages We're about making business hopes and dreams come to life. Our lending services are designed to help you expand your current business, purchase additional equipment or products, or even start a new business as a prospering entrepreneur! You're not alone; it's our pleasure to help you! Commercial Loans & Mortgages page 2 / 8

3 Businesses requiring capital to finance fixed assets (such as real estate) should discuss these plans with one of our knowledgeable employees. We have the flexibility to view your application and design a loan package with terms, options, and rates to suit your business requirements Line of Credit For temporary funds or overdraft protection on your chequing account, Lake View Credit Union can provide you with a business line of credit. Establishing a line of credit with Lake View Credit Union can maximize your purchasing power and allow you flexibility in managing your business. It gives you cash when needed for financing receivables, inventory build-up, seasonal requirements or other cash flow purposes. Once your amount has been approved, you simply write a cheque or make a withdrawal to access funds. Interest paid only on amount borrowed Competitive rates We also offer a Letter of Credit which provides you with a convenient method of conducting import and export transactions Card Products The Business MasterCard is perfect for small businesses and corporate members who want financial convenience and control. Features Choose between two different payment methods: 1. consolidated pay - one main control account for the business, and one sub-account for each employee 2. individual pay - an individual account is created for each employee Statements are mailed directly to each cardholder and for consolidated pay, a summary statement is mailed to the business Common Carrier Travel Accident Insurance MasterRental Master RoadAssist 24-hour roadside assistance at pre-set rates Core Features World-wide global acceptance serving consumers in 210 countries and territories World's largest ATM network page 3 / 8

4 24-hour lost/stolen card assistance Emergency cards and emergency cash Enterprise Strategy Lake View Credit Union wants to see your small or medium sized business grow and prosper. As a member of our credit union, you have access to a variety of resources that can help you build your business. Explore Business Banking without the Bank This is where people still matter, where responsiveness counts, where local decision-making is a priority. Welcome to business banking at Credit Unions. As part of our Enterprise Strategy our services include access to: Operating Lines Business Loans Merchant Banking Online Banking Services Building and Improvement Loans More information on Enterprise Strategy from the Canada's Credit Unions Merchant Services Cash and cheque payments will continue to diminish as technology advances. Canadians carry over 10 million MasterCard credit cards and 24 million debit cards. By accepting credit cards and debit cards, your business will benefit from: More sales, resulting from more payment options Improved record keeping - electronic processing provides easy balancing at the end of the day and additional reporting options Improved customer service, providing your customers with a broader choice of payment options Reduced risks, carrying less cash on hand and reducing exposure to NSF cheques and charge backs page 4 / 8

5 Card Acceptance Choosing the right payment solution for your business is important. More and more, customers are demanding flexibility in payment options. With a merchant terminal from Lake View Credit Union, you will be able to accept the following card plans: MasterCard VISA American Express Diners Club EnRoute Interac Cirrus Maestro Help Desk The Merchant Services Help Desk is accessible to you 24 hours a day, 7 days a week by calling toll free Friendly staff can assist you in both French and English with: Product and terminal support POS problem resolution Software upgrades Balancing Supplies Merchant Link This service is ideal for merchants who manually deposit their MasterCard slips, and who do not accept Interac Direct Payment transactions. MerchantLink allows you to authorize credit card payments, and deposit up to 5 MasterCard transactions directly to your MasterCard merchant deposit account with a single phone call on a touch-tone phone. MerchantLink lets you do 4 kinds of transactions: Authorize a transaction for immediate deposit Authorize a transaction for deposit later Deposit a previously authorized transaction, and refund a transaction page 5 / 8

6 Enjoy peace of mind knowing immediately whether a card is approved or declined for payment. You'll save time by depositing by phone - any time of day or night - rather than saving up slips for physical deposit at your branch. Your deposited funds will be available sooner than if you save up for a weekly deposit, too. Over 65 Years Strong After the Great Depression in the early 1940s, the people in the Dawson Creek area of northern British Columbia (BC) were feeling the same financial burden as the rest of Canada. The chartered banks were exceptionally cautious, and it was nearly impossible to get credit. This situation spurred a group of cooperatively-minded individuals to join together. They conducted research, formed study groups, and discussed the possibility of incorporating a credit union in the area. On July 28th 1943, this group of future credit union members collaborated late in the evening at the Lake View schoolhouse. At the time, twelve members were required to form a credit union, and the Lake View group only had eleven. According to long term board member Dwain Clease, "they met to form the credit union and put up their six dollars. They put up fifty cents a piece by 12 of them. In fact they didn't have enough for the twelfth so they went down the road and got Mrs. Golata, who was the schoolteacher, to come up and join in her nightshirt almost. They got her out of bed...to join and to add her fifty cents." At that eleventh hour, the original twelve charter members were Gunnar Mortenson, Ben Miller, Wm. Conn, A.R. Crull, Hans Larson, Ralph Lefferson, Bert Faulkner, Homer Stevenson, Ruby Stevenson, Arnold Ebert, Harry Wood and Elizabeth Golata. Lake View Credit Union (LVCU) received its charter and opened its doors to the public in August of The original office for this fledgling financial institution was located in the northeast corner of the Dawson Creek Retail Co-op, and consisted of nothing more than orange crates and a cash box. Gunnar Mortenson, who was the credit union's first General Manager, walked seven miles from his home every Saturday afternoon to open the office. As a result of his hard work and determination, the title of LVCU's chief pioneer is attributed to Mortenson. He handled all Lake View's borrowing and lending, and volunteered countless hours. After three years of dedication to the credit union, Mortenson received his first paycheck for $150 as manager of Lake View on April 1,1946. The efforts of the credit union's original members paid off. By December 31,1943, only four months after its inception, the membership had grown to from 12 to 76, with a share capital of $2,114. One year later, in September 1944, the credit union had 141 members and a share capital of $25,820. The growth "developed out of lending money on a handshake when you loan money to someone on a handshake, you basically have put your value in the man's handshake" (Dwain Clease, 2001). This approach allowed Lake View Credit Union to grow quickly. In its formative years, LVCU had the distinction of being one of the fastest growing credit unions in British Columbia. page 6 / 8

7 Organization Today, Lake View Credit Union has a board of seven directors, a number of whom have been re-elected for several successive terms. Director Clease mentions that when he was elected in 1977, the shortest time a member had served on the Board was eleven years, and he personally replaced a person who had been on the board for twenty-nine years. Board members are elected and may be re-elected on a rotating basis every two years. The board acts as one entity, but has appointed chairpersons for specific sectors such as investments and audits, and the board is the acting committee for each of these areas. The LVCU board meets monthly to conduct the regular business of the credit union. Clease mentions that a pivotal view the board has consistently held is that "the members [of Lake View Credit Union] are the key" and by following its mission statement which in part reads "deliver the most beneficial services in a friendly, professional, efficient and financially responsible manner" the credit union has prospered as have its members. In 1974, LVCU expanded its services by opening a branch in Chetwynd, B.C., and in 2001 it replaced the Royal Bank as the only financial institution in Tumbler Ridge, B.C. Today, LVCU has maintained these three branches, and has grown to over 15,500 members with assets over $230 million, page 7 / 8

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