[CCI Admin]

Hi Brad,

I’d be happy to send you some samples off line. Please contact me via email at grant.flagler@fsresidential.com.

Thanks,

Grant Flagler
FirstService Residential, Alberta

Grant F on December 05 2017 at 10:37 PM

[CCI Admin]

Hi,

I am interested in talking with you about the banking information your enquiry raised. Please email me at: bpatwebb@shaw.ca

Patricia W on December 14 2017 at 12:10 PM

[CCI Admin]

All

Thanks for the input. CWB and ATB seem to be the institutions of choice.

Thanks
Shaune

Shaune I on November 30 2017 at 07:12 AM

[CCI Admin]

I would check with ATB as well. They are 100% guaranteed on all deposits.

Serena N on November 29 2017 at 05:38 PM

[CCI Admin]

We use ATB. They are not governed under the same rules as chartered banks are and are covered by the Alberta Government.

William T on November 28 2017 at 10:58 PM

[CCI Admin]

Hi Shaune,
You question is great and the responses seem positive. I am going to give you my humble opinion which is don’t trust any of the banks. Don’t put your total faith in one bank. Choose a charter bank as your investments have a little more security. Emphasis on little.

The biggest thing to keep in mind is that a bank is a business if you think for one second they will give you a break, think again. Be prepared to compare fees at least every three years. Don’t let them lock you into long term agreements because once they do that they have you. Push for fee reduction and be prepared to move if they won’t budge.

Paul M on November 28 2017 at 08:07 PM

[CCI Admin]

We use Canadian Western Bank , they have a condo account. They will match rates when possible. Alanda Ferster , 780-988-8607 at South Edmonton Common is really good.
Remember only !00,000 in each account is CDIC insured for Reserve Funds.
1. They pay 1.1% on a Reserve savings account that I use to transfer into each month our monthly contribution for the reserve fund from operating.
2. We have a CWB Valiant account where we have Reserve GIC’s to = $100,000 , CDIC INSURED
3. CWB TRUST account with GIC to = $100,000.
In total we have $300,000 which is insured. Then for the surplus we use RBC Securities where we have more investments all CDIC insured.
We pay much lower fees at CWB now that we are self managed. I can transfer and print statements and bank online.

Eleanor M on November 28 2017 at 07:00 PM

[CCI Admin]

Angela with CWB has been fantastic with my corps. I highly recommend contacting her.

Kelly S on November 28 2017 at 04:33 PM

[CCI Admin]

I agree with Sandra regarding the different branches. The positive of servus is that it is in the corporations name and stay with the corporation no matter what.

I would recommend atb

Jill M on November 28 2017 at 04:02 PM

[CCI Admin]

I would definitely not recommend Servus.

There is no consistency amoungst branches. One branch/teller will allow you to bank with just one of the 2 signing authorities there; other branches/tellers will insist on both being there, at the same time, just to transfer funds between 2 accounts.
If you call the call center for an appointment and what is needed (ID, corporate registry, minutes to meetings, 2 signing authorities there at the same time), they will neglect to include some items so when you get there, you end up going home empty handed. Some of the service reps would then giggle, “oops, sorry”. Have no respect for your time.

Sandra M on November 28 2017 at 03:41 PM

[CCI Admin]

HI Shaune,

I helped all of the Condo Corps I manage get set up with new bank accounts. It can be an exhaustive effort as banks don’t seem to really understand how Condo Corps operate..and what our needs are.

The best so far have been:
Canadian Western
Angela Furzer | Manager Cash Management
Edmonton 103rd Street Branch
p. 780-969-1527 | f. 780-423-8811
and Servus
Amanda Batuik
Cash Management Analyst
Business – Solutions
Servus Credit Union
9109-82 ave, Edmonton, AB
T6C 0Z4
t: 780.641.8783
f: 780.469.9149

You can let them know that Rebecca from RM Trotter Managment INC referred you.

ALL THE BEST!

Rebecca T on November 28 2017 at 03:12 PM

[CCI Admin]

Hi Terry, thank you so much for the advice. We really appreciate it. Some follow up comments.

1. We had a 2nd opinion on WETT inspection, revealing the same problems.
2. We have taken measures to cease use of fireplaces and insurance has been kept in the loop. Good reminder about records.
3. Good consideration about particulate pollution.
4. We have had an Extra-ordinary General Meeting before we had solutions, just to answer questions and get perspective. We will host another one when final options to choose and/or vote.

Brad

Brad M on December 05 2017 at 09:56 PM

[CCI Admin]

We’ve been through this, but without the complications you face (i.e. all our units had fireplaces, and all were, by past resolution, the responsibility of the owners). But here’s what you should know anyway:

1. Don’t waste any time trying to find an authority to overturn the WETT inspector’s findings. We did that. Trust me. There is NOBODY who will take on that liability.
2. Your lawyer is probably advising you about communicating that use now is strictly prohibited, as common insurance coverage is at risk now that you have an “unsafe” call. We disclosed fully to our insurer, and told them what we were doing to address the problem. We kept them in the loop the entire time. Keep meticulous records.
3. Before you suggest/allow new wood fireplace installations (with attending maintenance costs, inspections, etc.), do some research on legislation in Canada around wood-burning fireplaces and particulate pollution. BC and the City of Montreal in particular have passed legislation, and it’s coming to every place — unless we happen to get global warming solved first.
4. Once you’re fully prepared with options, info, powerpoint, etc., hold a Town Hall. Show all the options, be prepared to take completed forms and payments on the spot (if applicable), and answer every question, until there are no more questions left.

Good luck.

Terry G on November 27 2017 at 01:11 PM

[CCI Admin]

Thanks Todd and Gus for your comments. Do know that we have sought legal opinions on the matter, which certainly helps guide the decision-making. Part of the reason for posting on CCI is really to see how others have handled the inequity that gets highlighted on an issue like this. Other repair work that regularly happens can particularly benefit some units but not others. Owners usually do not get uptight about the inequity on other repair work. The threat of a special assessment seems to awaken the inequity issues that were laying dormant before.

Brad M on November 24 2017 at 05:21 PM

[CCI Admin]

You’ve got another difficult issue: owners who do not have fireplaces probably have good arguments to be excluded from a special assessment.

Gus V on November 24 2017 at 12:15 PM

[Author]

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