Ways to Bank
Are you looking for a product or service you don't see advertised? Ask us! We can often build custom solutions just for your business..
Lakeland Credit Union has nearly $650 million in assets. But what does that mean to you? It means that we are large enough to be a significant financial institution with a full range of options, but still small enough to make quick and informed decisions right here in Bonnyville and Cold Lake.



Business Online Banking
Online business banking is an easy, quick and secure way to manage your money wherever you are, any time of the day, any day of the week. Because business never stops and neither should your banking.
Online business banking options:
  • View Account details, transactions and eStatements
  • Open a new chequing or savings account
  • Pay bills, schedule payments and manage payees
  • Transfers funds between your accounts
  • Send money via Interac e-Transfer
  • See pending transactions that require approval
  • Add and manage delegates
For more information, contact us.
CAFT Services

CAFT (Customer Automated Funds Transfer) Service

The right solution for electronic deposits and pre-authorized payments.

 

What is CAFT?

CAFT (Customer Automated Funds Transfer) is a secure web-based application that provides credit unions and members the ability to generate electronic deposits and pre-authorized debits.

CAFT access allows you to move money electronically between Canadian Financial Institutions. These electronic files are called AFTs (Automated Funds Transfer).

 

Not sure if CAFT is for you?

Contact your branch to help you determine if CAFT is the right solution for your organization.

CAFT accounts are subject to approval and may require additional documentation.

Already a CAFT member?

The CPA (Canadian Payments Association) sets the rules that govern this movement of money by AFTs. The CPA Rules and Standards can be accessed at www.cdnpay.ca

Lakeland Credit Union reserves the right to suspend your CAFT services at any time without notice for not complying with CPA Rules and Standards and AFT requirements.  Please review your roles and responsibilities as a CAFT User.
Interac e-Transfer
Transferring money can now be done quickly and securely with Interac e-Transfer®! All you need is your recipient’s email address or mobile phone number to send money in just a few quick and easy steps.

When to use Interac e-Transfer:

  • Paying employees
  • Sending transfers to vendors
  • Paying for invoices like cleaning or repairs

Interac e-Transfer has two new features, making it even more convenient:

Request Money

You can now send a money request through your app or online banking. It’s an easy way to say "your invoice is due". For businesses, it's an important tool to streamline payments.

Autodeposit

You can now securely receive money transfers without having to log in to online banking or your app for every transaction. You can choose to register your email address with Interac e-Transfer® to automatically deposit funds for you, making Interac e-Transfer® an even simpler and faster way to receive your money.


Sending Limits Receiving Limits
Per transaction $3,000 $25,000
Per 24-hour period $10,000 N/A
Per 7-day period $10,000 N/A
Per 30-day period $20,000 N/A

 





*Within Canada only*
*Depending on account package, a non-refundable fee of $1.50 will be charged for sending an Interac e-Transfer®

Looking for more information? Visit the Interac e-Transfer homepage or Interac e-Transfer Security for more information on how this feature works, or contact us to speak with a Member Service Representative.


Lakeland FX
Simple, convenient, and secure online trading.

Lakeland Credit Union Foreign Exchange (Lakeland FX) allows our business members, who deal with high quantities of foreign goods or services, to mitigate currency risk, report and plan more accurately, and improve profitability on foreign transactions.

Individuals may also benefit from the ability to watch for their best rate when regularly buying or selling a minimum of $1,000USD to cover travel or living expenses.

The platform streamlines your ability to make and receive payments using USD currency and allows you to settle transactions without using drafts or wires – we process directly with your preferred accounts at Lakeland, no later than next business day.

Sign up for our online foreign exchange platform and you can trade at your convenience on any computer with an internet connection.  Access to the platform is available from Sunday at 5pm EST (3pm MT) through to Friday at 5pm EST (3pm MT).

Our platform allows you to buy or sell USD currency in real time with spot trading – exchanging Canadian funds for USD currency immediately.


To learn more or sign up for our FX platform, drop into one of our branches and ask how you can get started – or reach us at:

Bonnyville Branch | 780.826.3377
Cold Lake Branch | 780.594.4011

centralservices@lakelandcreditunion.com

Night Deposit

Keeps Your Money Secure Day and Night

Our branch locations accept deposits even after business hours. For a small one-time fee of $35 we provide you with a locking night deposit bag to securely deposit your money when it’s convenient for you. Our friendly member service staff verify the deposits and credit your account the very next business day to make sure you have timely access to your funds.
Merchant Services

Alberta has a high concentration of entrepreneurs compared to the rest of Canada, and many of those business builders are right here in the Lakeland.

Lakeland Credit Union is well positioned to offer tailored advice, products, and services to help you and your business thrive.

Features

  • Local expertise with reliable service
  • Preferred pricing and special offers
  • Full disclosure on all merchant fees as per our Merchant Code of Conduct

Preferred Pricing

Merchant Services Management
Account Service Package: $5.00 per month

Merchant Services Set Up
One-time fee: $50

Point-of-Sale Solutions

Debit and Credit Processing

Business Chequing Accounts

Additional Offerings for Your Business

Plus

  • Profit sharing with your locally owned financial institution
  • Business Online Banking features including:
    • Free cheque image return and detailed statements online
    • Pay and file your business taxes online
    • Easily move money between personal and business accounts
    • Authorize users to view or initiate transactions
    • Automate dual signature approvals
  • Coin counter machine in branch
For more information, contact us.
Wire Transfers
Sending a wire transfer is a convenient, efficient and safe way to move money between financial institutions almost anywhere in the world.  Funds can be sent in almost any currency and received in either Canadian or U.S. Dollars.

To send or receive a wire, specific information must be provided to ensure the transfer meets all the rules and regulatory requirements, allowing the wire to pass quickly through what may sometimes include multiple systems.  If any information is missing or incorrect, the wire may be delayed or not arrive at its destination at all.

Incoming Wires

To receive a wire transfer you must provide the necessary information to the sender.  Instructions differ depending on where the wire is coming from.  The currency being received will also determine the routing instructions.

Outgoing Wires

Sending cut-off times apply.  Contact your branch for details.

To send a wire transfer you must provide the sender’s full legal name (or full legal business name) and full physical address.  Similar information will be required about the beneficiary along with their banking information and any additional details specific to the destination of the wire. 

Refer to the checklist or complete the information form below to ensure you provide all the necessary details to your Lakeland Credit Union branch for processing.


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