Ottawa Corporate Office

400 Albert Street Ottawa, ON K1R 5B2

Toronto Corporate Office

165 Attwell Drive Toronto, ON M9W 5Y5

Alterna Savings TeleService Centre

Toll Free: 1.877.560.0100

Toronto: 416.252.5621

Ottawa: 613.560.0100

Alterna Bank TeleService Centre

Toll Free: 1.866.560.0120

Gatineau: 819.595.6980

Ottawa: 613.560.0120

FoundingMember of CBSROntario

Alterna is a member of

alterna.ca5

Now or later? Understanding the saving and tax implications of cashing out your severance payA recent announcement by the federal government regarding the elimination of severance packages to Public Service Alliance of Canada (PSAC) employees will potentially have a great impact on many of our Alterna members and clients. We’ve recognized the need for guidance and advice to make the right decision, and have created this webinar to help members understand the implications of cashing out their severance pay now or later – a decision that could have a big impact on how they live tomorrow.

Upsizing/Downsizing your homeBuying a home is one of the largest financial purchases you’ll ever make. You deserve to have a great experience as a homebuyer, and the knowledge to make smart decisions through professional guidance and advice. We’ve posted a series of educational webinars to help you identify your home buying needs, provide information you need to know before you buy, plus solid advice and solutions to make you comfortable in your new home.

Investing in Rental Properties Being a landlord comes with a different set of responsibilities and legal obligations from regular home ownership. Arm yourself with the facts about rental property investments and how Alterna can help you make the right choice.

Magnifying the Mortgage Fine PrintOkay, pop quiz: do you know how much it will cost to break your mortgage? If not, you’re not alone – it’s a common complaint lenders and the Financial Consumer Agency of Canada (FCAC) hear often. And it can cost you big bucks if you didn’t take the time to read and understand it.See page 2 for details.

Spring 2011

Tele-ClassesJune 15 - Managing Stress and Personal Leadership with professional trainer Wendy Woods, Principal of Watershed Training SolutionsLearn to manage stress and daily challenges with ease, and add more ‘life’ to your living

Time: 7:00 to 8:00 pm

September 14 - Customer Service, with special guest retail specialist Kathryn HotteDiscover the keys to providing great service for your customers and clients that will help grow and sustain your business

Time: 7:00 to 8:00 pm

RSVP with Jean Barrett jean.barrett@alterna.ca

Networking CaféSeptember 27 - Marketing Tips

and Tricks

October 25 - Book Club: The Most Successful Small Business in the World

Time: 6:00 to 8:30 p.m. Location: Centre for Social Innovation

Alterna Boardroom 215 Spadina Ave., Toronto

RSVP with Jean Barrett jean.barrett@alterna.ca

Lunch and Learn Now or later? Understanding the saving and tax implications of cashing out your severance pay

Date: Wednesday, May 25 Time: 12 to 1 p.m., Lunch will be providedLocation: Alterna Savings Board Room,

400 Albert Street, Ottawa

RSVP to Albert Street Branch Reception or call 613.560.0100 ext. 6950

Being a co-op means we automatically have common ground with other co-ops: improving the lives of people through co-operative action. Alterna Savings works with a number of other co-ops, including the Canadian Co-Operative Association and the Ontario Cooperative Association to do just that.

A few of the Co-op programs we worked with in 2010 include:

•TheCanadianCo-operativeAssociationWomen’sMentorship Program, helping women employed with credit unions in developing countries gain training and leadership skills

•Co-operativeYoungLeaders,helpingteensdevelopleadership skills, network and make new friends while learning about co-operative principles

•Housingco-ops,liketheCo-operativeHousingFederationofToronto,openingthedoorsofopportunity through educational scholarships

Read about our community involvement and support in our 2010 Community Report, “Building Community, Creating Access”, available on alterna.ca.

Ifyou’reamemberattheBayStreet(Toronto)branch,youmay recognize that friendly smile.

Bernadette will be travelling to Glasgow, Scotland a little later this year to attend theWorldCouncilofCreditUnions Annual Meeting and meet fellow co-operators from around the globe.

Each year, in partnership with the Canadian Co-operative Association(CCA),Alterna

Co-ops Helping Co-opsAlterna ‘Webucation’

what’s inside

For those of you who haven’t already registered for AlternaSphere, now’s a great time to do so.

AlternaSphere is our Advisory Panel, and is a direct line to you, our members, for feedback on creative designs and testing, polls, surveys, and more. As members of your credit union, we want to hear what you think.

We’ve got a lot of things planned for a little later in the year – being part of AlternaSphere will give you an inside scoop and sneak peek at what’s happening, plus the chance to give us your two cents’ worth.

Check out AlternaSphere by clicking on the AlternaSphere button from the Alterna Savings home page.

We look forward to working with you!

Pssst! Register for AlternaSphere and stay tuned to win cool prizes like an Apple iPad!

Alterna Advisors

TheAlternaSavingsAnnualGeneralMeetingheldonApril13thsaw four new board members voted in, a good turnout in both OttawaandToronto,andagreatQ&AsessionformemberswithseniormanagementandtheBoard.Thenewlivepollingfeatureintroduced at the meeting was well-received, and provided some great member insight and direction for future meetings.

Congratulations to the elected board members, Faren Bogach, Mary-LuBrennan,RandalHeide,andNormAyoub.

For the complete rundown oftheevening’sevents and results, visit alterna.ca and click on the “Making Connections 2011 AGM” logo.

1 Sarasvati Maharajh and Nikki Reid, Alterna Employees 2 John Conway, Investment Specialist and Brent Moran, Personal Financial Advisor 3 Kevin Lindsey, Board of Directors 4 Doug McGee, Vice President, Financial Advisory Services, Paul Sullivan, Alterna Investment Specialist, Donnie Doran, Alterna Investment Specialist, Barry Ferguson, Vice President Wealth Management, Qtrade Financial Group 5 Live polling 6 A member has the floor during the question & answer period

2011 AGM a Success!

Savings runs the “CSR Idol” Award.ThisisanopportunityforAlterna staff and members to vote for the Alterna representative who they believe demonstrates leadership in their community. Past winners are Francine Dick, NikkiReidandChristineRacine.

Thenexttimeyou’reintheBay Street branch, say hello to Bernadette, and be sure to congratulate her.

Good luck in Scotland Bernadette!

Alterna Savings and Central 1 were pleased to present the 2011 Gary Gillam Award for Social Responsibility to Donald Altman for his work and dedication to promoting credit unions as an ethical choice and alternative to traditional banks.

Donald has been a Board member at Alterna Savingsfor33years,andwas elected Chair of the Board for 17 of those years.Heconsistentlycontributedstrongvisionandleadershipthat helped Alterna grow into the supportive, community-based organization it is today.

WANTED

Alterna refers to Alterna Savings and Credit Union Limited (“Alterna Savings”) and its wholly owned subsidiary CS Alterna Bank (“Alterna Bank”). Together, Alterna Savings and Alterna Bank form the Alterna Financial Group.

For your viewing pleasure, Alterna’s new “Showcasing our Success”video!Empowering people, changing livesWe’re pleased to announce the release of the “Showcasing our Success” Micro-Finance video, demonstrating how our Micro-Finance program empowers local small business owners and contributes to positive life changes.

According to the Canadian Cancer Society, 45% of men will develop cancer in their lifetime. Whynotdosomethingextra-special for the men in your life thisyear?Helpincreasecancerawareness in the community and raise funds to help local cancer patients get great care close to home.

Join us for the annual Alterna Do It For Dad! on June 19th in support of the Ottawa Regional CancerFoundation.It’sagreatfamily outing, with a 2 km FamilyFunWalk,ora5kmor10 km race for those wanting a quicker pace.

Toregisterorformoreinformation about the event, visit www.ottawacancer.ca/doitfordad.aspx.

See you there!

Biz CampWe’reproudto announce 14-year-old Rahul Daggul as the winner ofthispastwinter’sAlternaBizCampatTheLearningEnrichment Foundation. Rahul is in the International Business ProgramatWestonCollegiateInstitute, and had never been involved in setting up a new business or business course of any kind.

WiththehelpofBizCampcoaches, after school research and workshops, Rahul tapped into his entrepreneurial and personal strengths, developing a youth tutoring business in just6weeks.Hispassionforsubjects like math, English and science – and turning that into a viable business – were what impressed the judges and earned Rahul the top prize of $1,000.

Alterna’s been a leader in supporting small and budding businesses through micro-finance for over a decade. The Community Micro-Loan Program provides small loans for those businesspeople and entrepreneurs that larger financial institutions would not. The new video features some of the highlights and first-hand accounts of success as a result of this innovative program.

Are you a budding entrepreneur or trying to get your micro-biz off the ground? Be sure to check out the video to learn more about how we’ve helped people just like you become a real-life success, and changed their lives for the better.

The “Showcasing our Success” video is posted on alterna.ca.

And your 2011 Corporate Social Responsibility Idol is… Bernadette Baker!

2 Smart tips for ‘lump sum’ settlements

3 Mortgage Insurance: Are you covered?

3 Easy, everyday earth-saving tips

4 Passwords: Protect your information

5 Co-ops Helping Co-ops

5 Your 2011 Corporate Social Responsibility Idol

6 Upcoming ‘webucation’, tele-classes and more!

1

2

3 4 5 6

Congratulations

Rahul, and good luck!

2011 Gary Gillam Award Winner

Now available on alterna.ca

This newsletter is printed on 100% post-consumer recycled paper using FSC-certified sustainable methods like vegetable-based inks and renewable energy sources. Which means we saved 29 trees, almost 20,000 gallons of water, and kept 6,500 lbs of emissions out of the air and 2,500 lbs of solid waste out of landfills versus traditional printing methods.

Want to go paperless altogether? Sign up for the e-version of fresh by writing fresh@alterna.ca. Be sure to include your name and mailing address.

Looking for fresh e-news?

Johanne Charbonneau, Chair Alterna Savings, Donald Altman, Gillam award recipient (Alterna Savings member), Jack Smit, Chair of Central 1

2 3 4

Breaking a mortgage can happen any number of ways, but most often it’s because you’ve found a new home part way through the term of your original mortgage.As a rule, lenders will require a penalty payment when a mortgage is broken of around threemonths’interest,oraninterest-ratedifferential(IRD),whichever is higher. Since the calculationisn’tstandardizedthroughout the industry, lenders calculate penalties differently,soit’simportantyounot only read and understand your fine print before signing on the dotted line, but take steps to minimize the impact on you and your family.

Here are a few things to think about if you’re renewing or looking at a new mortgage:•Whenlookingforanew

mortgage, consider an open or variable rate mortgage thatwon’tpenalizeyouforexitingearly.Youcanalwayslockintoafixed-ratemortgage if interest rates start rising

•Selectashorterterm.According to industry studies, the average mortgagelastsonly3years.Rather than locking into a 5-yearterm,lookata3-yearorless,especiallyifyou’reuncertainhowlongyou’ll

Life CoverageBeing prepared for the unexpectedisoneofthegreatest gifts you can give your lovedones.Lifeinsurancewillpay off the outstanding balance of your insured mortgage at the time of death, plus accrued interest, plus settlement interest.Thismeansyouwill

Smart tips for ‘lump sum’ settlements

Is your Mortgage Insured?

Passwords: What’s Wrong with

Contrary to what Kermit the Frog would have us believe, it really isn’t that hard being green. With these tips, you’ll be able to easily fit being green into your daily routine, and do your part to help preserve the planet for now and generations to come.

Turn it off! Whetherit’stheblaringTVthatnoone’swatching,orthe energy-sucking

incandescent lightbulb in thehallwayceilingfixture, ifit’snotneeded,turnitoff.Shoo the kids outside for the evening – the days are long andtheweather’simproving,so get them involved in

It’s EASY being green – everyday tips to saving the earth

What did YOU do on Earth Day?

Check out the NEW

2.25%†

5-year closed variable rate mortgage

be staying at the new address. Sometimes life happens, despite our best-laid plans

•Findoutiftherateyou’reofferedis the same as the one the lender will use to calculate your penalty if you decide to leave early, and get it in writing

•Penaltiesareamovingtarget,depending how long it takes to sellyourproperty.Thepayoutand penalty amount you receive from your lender today will be different a couple of weeks or months from now

•Ifprepaymentisanoptionyourlender included in your current mortgage, make a sizeable one before you discharge your mortgage.Thisreducestheoutstanding amount, thereby reducing the interest owed and penalty

•Ifyou’rerenewing,reassessyour needs. Do you need to consolidate higher-interest debts, or money for a major renovation? Do you want to change your payment frequency, make prepayments, or increase your mortgage payments to pay off your mortgage sooner? Above all,askyourselfifyou’resatisfiedwiththeservices(andservice)your current lender provides, and can they offer you a better rate or a blended rate option? It pays to shop around

Guard against the unexpectedWithalittlepreparation,youcan guard yourself against any unexpectedcostsandfeesthatmayseemingly come out of nowhere when you break a mortgage.

Afew‘extras’thatyoumaynotbeexpectingcaninclude:

•Thelender’sadministrationfee

•Legaland/ordisbursementfees to discharge the old mortgage

•Legaland/ordisbursementfees to register the new mortgage

•“CashBack”repayment,depending on the type of mortgage you originally obtained

It’sbesttofindoutfromyourmortgage-holder (and your lawyer ifneeded)exactlywhatadditionalfeesyou’llbeexpectedtopay.

A mortgage is most likely the largest financial commitment you’llevermake,sodoingsomelegwork at your end is definitely worthwhile. Consider and compare packages offered by each lender – interest rates, features like prepayments or increasing regular payments, and services. Also, remember that interest rates are often negotiable (of course, at Alterna, you always get our best, no-haggle rate with our FairRatePricing™).

Most of all, read your mortgage agreement carefully before signing, and be sure to ask questionsifthere’sanythingyoudon’tunderstand,includingpenaltiesandfees.Thiswillensure you can weigh the costs against the benefits before making a decision you have to live with for a while.

Whetheryou’rereceivinganinheritance, severance payout, or lottery winnings, knowing just what todowithasuddeninfluxofcashcan put your head in a twirl. Do you pay off your mortgage, invest for the future, or just spend the money?

Temptingasitmaybetosplurgeon new things – to spend it now – might not prove to be your wisest investment. And, with all the investmentoptionsoutthere,it’shard to know where to put your money.

Short-term,long-term,tax-free– your Alterna Personal Banking representative can help you prepare a financial plan for your newfound dollars that will work for you. Alreadyhaveaplan?Whynotgetasecond opinion? A second opinion will either confirm that you are on the right track or identify other importantoptions–afterall,it’syourmoney, and it should continue to work its hardest for you. Drawing on the various financial tools, products and services available, your Alterna Personal Banker will work with our team of Investment Specialists to analyze your needs and build a plan that aligns with your short- and long-term goals.

Contact your Alterna Personal Banking representative today to book an appointment to prepare a Personal Investment Plan, and speak further about your options.

Alterna now offers all the products you need through our partnership with Qtrade Financial Group — from straightforward term deposits and index-linked terms to mutual funds*, stocks*, bonds*, and other professionally managed investment solutions, including socially responsible investments.

have the peace of mind knowing that, in the event of your death, your spouse will not be burdened with the financial stress of mortgage debt during the grieving process. WithLifecoverage,thefinancialdreams and plans of your family will remain intact.

If you choose life coverage on your mortgage, you can also purchase optional riders, including critical illness, disability and loss of employment coverage.

Critical Illness CoverageCriticalillnessisnotsomethingwe’dlike to face at any point in our lives, but since we can never completely eliminatetheriskofgettingill,it’simportant to take the necessary precautionsnowsothatyou’reprotected if the worst should happen.

Consider this; every hour of every day, an average of 20 Canadians are diagnosed with some type of cancer. 1 And given that nine out of ten Canadians over the age of 20 have at least one risk factor for heartdiseaseandstroke,it’snowonder that cardiovascular disease isCanada’snumberonekillerandpublic health threat.2

If you suffer a stroke, heart attack or are diagnosed with a life-threatening cancer, critical illness insurance pays the outstanding mortgage balance from the date of your diagnosis, plus accrued interest, plus settlement interest.

Disability CoverageWhenitcomestodisabilityinsurance,oftentimes,familiesdon’tconsider its importance – especially

when they consider themselves well protected with life insurance. But what would happen if you suffered an injury and were unable to work? Whatfinancialhardshipswouldyouand your loved ones go through just trying to pay your mortgage andmonthlyexpenses?It’sascarythought for most.

Even if you have coverage through your employer, in most cases, people are shocked to learn how little this amount really is. Even employer plans that would be considered‘good’onlypaytwo-thirds of gross income and often aretaxable.AndaccordingtotheCanadianLifeandHealthInsuranceAssociation, one in three people, on average, will be disabled for 90 days or more at least once before they reach age 65.3

When you buy a home, you want security to go along with it. Your home is a place where memories are created; it is a place to watch children grow, to celebrate life and place to support each other during times of sorrow. Your house is a big investment and it’s important to ensure it is protected in the event of the unexpected. Have you ever thought of what you would do if you had to sell your home due to a family tragedy such as a job loss, critical illness, sickness, accident or death?

The good news is that even though unexpected tragedies do happen, you can protect yourself and your loved ones from financial heartaches. Group Mortgage Protection from Alterna is a monthly premium product that helps protect your family’s home for the life of your mortgage.

Sowhat’sthebenefittohavingdisability insurance? Disability insurance makes your mortgage payments if you become disabled.Thisensuresyourfamily’smostimportantassetis protected and then you can use your company insurance payments towards maintaining yourfamily’scurrentlifestylewhile you recover.

Loss of Employment CoverageIntoday’seconomynojobis truly secure, involuntary loss of employment insurance will help you breathe a sigh of relief.Theprogrammakesyourmortgage payments for you if youunexpectedlyloseyourjob.

Peace of MindDespite all the possible misfortunes we need to consider, rest assured that coverage can be added at any time,it’seasytoenrolandit’saffordable.Havingpropercoverage reduces your and yourfamily’sriskandworry,itprotects your credit rating and thebenefitsaretax-free.Ifyouhave a mortgage at Alterna, contact your representative to find out what protection you currently have, and how to get the protection and peace of mind you and your family need.

1 Source: Canadian Cancer Society2Source:2010HeartandStroke

Foundation Annual Report on Canadian’sHealth

3Source:CanadianLifeandHealthAssociation Inc.

*Article courtesy of CUMIS

some quality playtime. And, with electricity prices set to increase, there’snotimelikethepresenttoimplement this simple practice.

Play mealtime switch-up: go veggie. Embrace the meatless

diet,evenifit’sjustforadayor twoaweek.Therearetonsofcreative and flavourful vegetarian recipesoutthere.You’llhelp reduceoursociety’srelianceonfactory-farming (which adds to harmfulgreenhousegasses),plusincrease the fibre in your diet. Livestockanddoctorseverywherewill applaud.

Put the debit card away. Do you

really, really need that new

whatchamacallit?Landfillsarefullto the brink of things we throw away, and filling at an alarming rate. Cut back on the amount of “stuff”youpurchase,whetherit’sgarden gnomes or electric domes –you’llnotonlysaveyourgarbagecollector’sback,you’llhelpslowtherateofgrowing‘landfillhills’inour

landscape.

Clean green. Or should it be ‘green clean’?Whicheverwayyou put it together,

it goes a long way to reducing the chemicalsandtoxicby-productsreleased into our environment. Got a stubborn sink stain? Use baking soda to get the grime off. Dirty windows? Good old vinegar

and water will take care of that. Effective plant-based and eco-friendly cleaners and detergents are widely available for every tough household job, from windows to laundry, and yes, even the - *gasp!* - toilet.

As you can see, these are all small, easily-digested changes we can all makeinourdailyliving.Youcangogreen painlessly a bit at a time, or go whole-hog and take on bigger ‘green-ness’.Whateveryoudecideto do, every little bit helps.

† Rates subject to change without notice.

Magnifying the Mortgage Fine Print

Since Earth Day actually fell on Good Friday this year, we celebrated it a day early by participating in the Alterna 20 Minute Challenge. Staff donned gloves and grubbies to do their part for a quick spring cleaning by picking up garbage around the various facilities.

Here at Alterna, we do what we can to reduce our environmental footprint with a company-wide waste and recycling program, an eco-friendly printer for producing our printed material…even our coffee cups are ‘green’ – every staff member has a reusable mug for their daily Fair Trade java.

This year’s AGM, as in previous years, was a ‘carbon-neutral’ event.

Passwords are a first line of defense in keeping attackers out ofacompany’snetworkaswellasyour own personal online activities, but all too often they are viewed as a nuisance or more trouble than they’reworth.Theresultisterriblesecurity.

A hacker group called Gnosis, for example,recentlycompromisedGawker.com’sdatabaseandpostedthe usernames and passwords of 1.3millionusers.Ananalysisofthe 188,279 different passwords shows the list to be full of security no-nos.Over3,000userschose“123456”and2,000peopleused“password.” Coming in third place was“12345678”with1,000users. Also,astudyofmorethan30millionpasswordsexposedwhenRockyou.com was hacked found that almost half used common dictionary words, names, or sequential characters on the keyboard, such as “qwerty” from the top row of English-language keyboards.

In addition to choosing weak passwords, many people use the same password for numerous accounts, placing themselves at risk. Once a hacker cracks a password, it’sasimplemattertofindsensitivedata as well as personal email and bank accounts. Fortunately, it’sfairlysimpletocreateagood,memorable password.

Password Do’s… and Don’tsYoucanmakeitdifficultforhackers by following some password best practices:•Keepadifferentpasswordforall

of your accounts

•Everytimeyou’reaskedtocreate a password, make it a brand new one. Change your passwords periodically

•Keepyourpasswordasecret;don’tshareitevenwith a trusted coworker or family member

•Besurenooneislookingover your shoulder when you type your password

•Keepyourpasswordreminders in a secret place thatisn’teasilyvisible

•Neverwriteyourpasswordon a sticky and put it on your monitor or under your keyboard

Here are some things to avoid in choosing a password:•Avoidsequencesorrepeated

characters, such as 22222 or 12345orqwertyorasdfg

•Neverusetheword“password”

•Donotuseyourfirstname,last name or username

•Skipalldictionarywords–even those with an added number or character in front or back, or a number substitution

•Avoidnamesoffamilymembers, friends or pets

•Don’tusepersonalinformation about yourself or family members in passwords

*Article courtesy of the Computer SecurityInstitute,http://gocsi.com/

Pitching in - Denise R., Alterna employee

*Mutual funds and other securities are offered through Qtrade Advisor, a division of Qtrade Securities Inc., a Member Canadian Investor Protection Fund. Mutual funds are also offered through Qtrade Asset Management Inc., member MFDA. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

2 3 4

Breaking a mortgage can happen any number of ways, but most often it’s because you’ve found a new home part way through the term of your original mortgage.As a rule, lenders will require a penalty payment when a mortgage is broken of around threemonths’interest,oraninterest-ratedifferential(IRD),whichever is higher. Since the calculationisn’tstandardizedthroughout the industry, lenders calculate penalties differently,soit’simportantyounot only read and understand your fine print before signing on the dotted line, but take steps to minimize the impact on you and your family.

Here are a few things to think about if you’re renewing or looking at a new mortgage:•Whenlookingforanew

mortgage, consider an open or variable rate mortgage thatwon’tpenalizeyouforexitingearly.Youcanalwayslockintoafixed-ratemortgage if interest rates start rising

•Selectashorterterm.According to industry studies, the average mortgagelastsonly3years.Rather than locking into a 5-yearterm,lookata3-yearorless,especiallyifyou’reuncertainhowlongyou’ll

Life CoverageBeing prepared for the unexpectedisoneofthegreatest gifts you can give your lovedones.Lifeinsurancewillpay off the outstanding balance of your insured mortgage at the time of death, plus accrued interest, plus settlement interest.Thismeansyouwill

Smart tips for ‘lump sum’ settlements

Is your Mortgage Insured?

Passwords: What’s Wrong with

Contrary to what Kermit the Frog would have us believe, it really isn’t that hard being green. With these tips, you’ll be able to easily fit being green into your daily routine, and do your part to help preserve the planet for now and generations to come.

Turn it off! Whetherit’stheblaringTVthatnoone’swatching,orthe energy-sucking

incandescent lightbulb in thehallwayceilingfixture, ifit’snotneeded,turnitoff.Shoo the kids outside for the evening – the days are long andtheweather’simproving,so get them involved in

It’s EASY being green – everyday tips to saving the earth

What did YOU do on Earth Day?

Check out the NEW

2.25%†

5-year closed variable rate mortgage

be staying at the new address. Sometimes life happens, despite our best-laid plans

•Findoutiftherateyou’reofferedis the same as the one the lender will use to calculate your penalty if you decide to leave early, and get it in writing

•Penaltiesareamovingtarget,depending how long it takes to sellyourproperty.Thepayoutand penalty amount you receive from your lender today will be different a couple of weeks or months from now

•Ifprepaymentisanoptionyourlender included in your current mortgage, make a sizeable one before you discharge your mortgage.Thisreducestheoutstanding amount, thereby reducing the interest owed and penalty

•Ifyou’rerenewing,reassessyour needs. Do you need to consolidate higher-interest debts, or money for a major renovation? Do you want to change your payment frequency, make prepayments, or increase your mortgage payments to pay off your mortgage sooner? Above all,askyourselfifyou’resatisfiedwiththeservices(andservice)your current lender provides, and can they offer you a better rate or a blended rate option? It pays to shop around

Guard against the unexpectedWithalittlepreparation,youcan guard yourself against any unexpectedcostsandfeesthatmayseemingly come out of nowhere when you break a mortgage.

Afew‘extras’thatyoumaynotbeexpectingcaninclude:

•Thelender’sadministrationfee

•Legaland/ordisbursementfees to discharge the old mortgage

•Legaland/ordisbursementfees to register the new mortgage

•“CashBack”repayment,depending on the type of mortgage you originally obtained

It’sbesttofindoutfromyourmortgage-holder (and your lawyer ifneeded)exactlywhatadditionalfeesyou’llbeexpectedtopay.

A mortgage is most likely the largest financial commitment you’llevermake,sodoingsomelegwork at your end is definitely worthwhile. Consider and compare packages offered by each lender – interest rates, features like prepayments or increasing regular payments, and services. Also, remember that interest rates are often negotiable (of course, at Alterna, you always get our best, no-haggle rate with our FairRatePricing™).

Most of all, read your mortgage agreement carefully before signing, and be sure to ask questionsifthere’sanythingyoudon’tunderstand,includingpenaltiesandfees.Thiswillensure you can weigh the costs against the benefits before making a decision you have to live with for a while.

Whetheryou’rereceivinganinheritance, severance payout, or lottery winnings, knowing just what todowithasuddeninfluxofcashcan put your head in a twirl. Do you pay off your mortgage, invest for the future, or just spend the money?

Temptingasitmaybetosplurgeon new things – to spend it now – might not prove to be your wisest investment. And, with all the investmentoptionsoutthere,it’shard to know where to put your money.

Short-term,long-term,tax-free– your Alterna Personal Banking representative can help you prepare a financial plan for your newfound dollars that will work for you. Alreadyhaveaplan?Whynotgetasecond opinion? A second opinion will either confirm that you are on the right track or identify other importantoptions–afterall,it’syourmoney, and it should continue to work its hardest for you. Drawing on the various financial tools, products and services available, your Alterna Personal Banker will work with our team of Investment Specialists to analyze your needs and build a plan that aligns with your short- and long-term goals.

Contact your Alterna Personal Banking representative today to book an appointment to prepare a Personal Investment Plan, and speak further about your options.

Alterna now offers all the products you need through our partnership with Qtrade Financial Group — from straightforward term deposits and index-linked terms to mutual funds*, stocks*, bonds*, and other professionally managed investment solutions, including socially responsible investments.

have the peace of mind knowing that, in the event of your death, your spouse will not be burdened with the financial stress of mortgage debt during the grieving process. WithLifecoverage,thefinancialdreams and plans of your family will remain intact.

If you choose life coverage on your mortgage, you can also purchase optional riders, including critical illness, disability and loss of employment coverage.

Critical Illness CoverageCriticalillnessisnotsomethingwe’dlike to face at any point in our lives, but since we can never completely eliminatetheriskofgettingill,it’simportant to take the necessary precautionsnowsothatyou’reprotected if the worst should happen.

Consider this; every hour of every day, an average of 20 Canadians are diagnosed with some type of cancer. 1 And given that nine out of ten Canadians over the age of 20 have at least one risk factor for heartdiseaseandstroke,it’snowonder that cardiovascular disease isCanada’snumberonekillerandpublic health threat.2

If you suffer a stroke, heart attack or are diagnosed with a life-threatening cancer, critical illness insurance pays the outstanding mortgage balance from the date of your diagnosis, plus accrued interest, plus settlement interest.

Disability CoverageWhenitcomestodisabilityinsurance,oftentimes,familiesdon’tconsider its importance – especially

when they consider themselves well protected with life insurance. But what would happen if you suffered an injury and were unable to work? Whatfinancialhardshipswouldyouand your loved ones go through just trying to pay your mortgage andmonthlyexpenses?It’sascarythought for most.

Even if you have coverage through your employer, in most cases, people are shocked to learn how little this amount really is. Even employer plans that would be considered‘good’onlypaytwo-thirds of gross income and often aretaxable.AndaccordingtotheCanadianLifeandHealthInsuranceAssociation, one in three people, on average, will be disabled for 90 days or more at least once before they reach age 65.3

When you buy a home, you want security to go along with it. Your home is a place where memories are created; it is a place to watch children grow, to celebrate life and place to support each other during times of sorrow. Your house is a big investment and it’s important to ensure it is protected in the event of the unexpected. Have you ever thought of what you would do if you had to sell your home due to a family tragedy such as a job loss, critical illness, sickness, accident or death?

The good news is that even though unexpected tragedies do happen, you can protect yourself and your loved ones from financial heartaches. Group Mortgage Protection from Alterna is a monthly premium product that helps protect your family’s home for the life of your mortgage.

Sowhat’sthebenefittohavingdisability insurance? Disability insurance makes your mortgage payments if you become disabled.Thisensuresyourfamily’smostimportantassetis protected and then you can use your company insurance payments towards maintaining yourfamily’scurrentlifestylewhile you recover.

Loss of Employment CoverageIntoday’seconomynojobis truly secure, involuntary loss of employment insurance will help you breathe a sigh of relief.Theprogrammakesyourmortgage payments for you if youunexpectedlyloseyourjob.

Peace of MindDespite all the possible misfortunes we need to consider, rest assured that coverage can be added at any time,it’seasytoenrolandit’saffordable.Havingpropercoverage reduces your and yourfamily’sriskandworry,itprotects your credit rating and thebenefitsaretax-free.Ifyouhave a mortgage at Alterna, contact your representative to find out what protection you currently have, and how to get the protection and peace of mind you and your family need.

1 Source: Canadian Cancer Society2Source:2010HeartandStroke

Foundation Annual Report on Canadian’sHealth

3Source:CanadianLifeandHealthAssociation Inc.

*Article courtesy of CUMIS

some quality playtime. And, with electricity prices set to increase, there’snotimelikethepresenttoimplement this simple practice.

Play mealtime switch-up: go veggie. Embrace the meatless

diet,evenifit’sjustforadayor twoaweek.Therearetonsofcreative and flavourful vegetarian recipesoutthere.You’llhelp reduceoursociety’srelianceonfactory-farming (which adds to harmfulgreenhousegasses),plusincrease the fibre in your diet. Livestockanddoctorseverywherewill applaud.

Put the debit card away. Do you

really, really need that new

whatchamacallit?Landfillsarefullto the brink of things we throw away, and filling at an alarming rate. Cut back on the amount of “stuff”youpurchase,whetherit’sgarden gnomes or electric domes –you’llnotonlysaveyourgarbagecollector’sback,you’llhelpslowtherateofgrowing‘landfillhills’inour

landscape.

Clean green. Or should it be ‘green clean’?Whicheverwayyou put it together,

it goes a long way to reducing the chemicalsandtoxicby-productsreleased into our environment. Got a stubborn sink stain? Use baking soda to get the grime off. Dirty windows? Good old vinegar

and water will take care of that. Effective plant-based and eco-friendly cleaners and detergents are widely available for every tough household job, from windows to laundry, and yes, even the - *gasp!* - toilet.

As you can see, these are all small, easily-digested changes we can all makeinourdailyliving.Youcangogreen painlessly a bit at a time, or go whole-hog and take on bigger ‘green-ness’.Whateveryoudecideto do, every little bit helps.

† Rates subject to change without notice.

Magnifying the Mortgage Fine Print

Since Earth Day actually fell on Good Friday this year, we celebrated it a day early by participating in the Alterna 20 Minute Challenge. Staff donned gloves and grubbies to do their part for a quick spring cleaning by picking up garbage around the various facilities.

Here at Alterna, we do what we can to reduce our environmental footprint with a company-wide waste and recycling program, an eco-friendly printer for producing our printed material…even our coffee cups are ‘green’ – every staff member has a reusable mug for their daily Fair Trade java.

This year’s AGM, as in previous years, was a ‘carbon-neutral’ event.

Passwords are a first line of defense in keeping attackers out ofacompany’snetworkaswellasyour own personal online activities, but all too often they are viewed as a nuisance or more trouble than they’reworth.Theresultisterriblesecurity.

A hacker group called Gnosis, for example,recentlycompromisedGawker.com’sdatabaseandpostedthe usernames and passwords of 1.3millionusers.Ananalysisofthe 188,279 different passwords shows the list to be full of security no-nos.Over3,000userschose“123456”and2,000peopleused“password.” Coming in third place was“12345678”with1,000users. Also,astudyofmorethan30millionpasswordsexposedwhenRockyou.com was hacked found that almost half used common dictionary words, names, or sequential characters on the keyboard, such as “qwerty” from the top row of English-language keyboards.

In addition to choosing weak passwords, many people use the same password for numerous accounts, placing themselves at risk. Once a hacker cracks a password, it’sasimplemattertofindsensitivedata as well as personal email and bank accounts. Fortunately, it’sfairlysimpletocreateagood,memorable password.

Password Do’s… and Don’tsYoucanmakeitdifficultforhackers by following some password best practices:•Keepadifferentpasswordforall

of your accounts

•Everytimeyou’reaskedtocreate a password, make it a brand new one. Change your passwords periodically

•Keepyourpasswordasecret;don’tshareitevenwith a trusted coworker or family member

•Besurenooneislookingover your shoulder when you type your password

•Keepyourpasswordreminders in a secret place thatisn’teasilyvisible

•Neverwriteyourpasswordon a sticky and put it on your monitor or under your keyboard

Here are some things to avoid in choosing a password:•Avoidsequencesorrepeated

characters, such as 22222 or 12345orqwertyorasdfg

•Neverusetheword“password”

•Donotuseyourfirstname,last name or username

•Skipalldictionarywords–even those with an added number or character in front or back, or a number substitution

•Avoidnamesoffamilymembers, friends or pets

•Don’tusepersonalinformation about yourself or family members in passwords

*Article courtesy of the Computer SecurityInstitute,http://gocsi.com/

Pitching in - Denise R., Alterna employee

*Mutual funds and other securities are offered through Qtrade Advisor, a division of Qtrade Securities Inc., a Member Canadian Investor Protection Fund. Mutual funds are also offered through Qtrade Asset Management Inc., member MFDA. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

2 3 4

Breaking a mortgage can happen any number of ways, but most often it’s because you’ve found a new home part way through the term of your original mortgage.As a rule, lenders will require a penalty payment when a mortgage is broken of around threemonths’interest,oraninterest-ratedifferential(IRD),whichever is higher. Since the calculationisn’tstandardizedthroughout the industry, lenders calculate penalties differently,soit’simportantyounot only read and understand your fine print before signing on the dotted line, but take steps to minimize the impact on you and your family.

Here are a few things to think about if you’re renewing or looking at a new mortgage:•Whenlookingforanew

mortgage, consider an open or variable rate mortgage thatwon’tpenalizeyouforexitingearly.Youcanalwayslockintoafixed-ratemortgage if interest rates start rising

•Selectashorterterm.According to industry studies, the average mortgagelastsonly3years.Rather than locking into a 5-yearterm,lookata3-yearorless,especiallyifyou’reuncertainhowlongyou’ll

Life CoverageBeing prepared for the unexpectedisoneofthegreatest gifts you can give your lovedones.Lifeinsurancewillpay off the outstanding balance of your insured mortgage at the time of death, plus accrued interest, plus settlement interest.Thismeansyouwill

Smart tips for ‘lump sum’ settlements

Is your Mortgage Insured?

Passwords: What’s Wrong with

Contrary to what Kermit the Frog would have us believe, it really isn’t that hard being green. With these tips, you’ll be able to easily fit being green into your daily routine, and do your part to help preserve the planet for now and generations to come.

Turn it off! Whetherit’stheblaringTVthatnoone’swatching,orthe energy-sucking

incandescent lightbulb in thehallwayceilingfixture, ifit’snotneeded,turnitoff.Shoo the kids outside for the evening – the days are long andtheweather’simproving,so get them involved in

It’s EASY being green – everyday tips to saving the earth

What did YOU do on Earth Day?

Check out the NEW

2.25%†

5-year closed variable rate mortgage

be staying at the new address. Sometimes life happens, despite our best-laid plans

•Findoutiftherateyou’reofferedis the same as the one the lender will use to calculate your penalty if you decide to leave early, and get it in writing

•Penaltiesareamovingtarget,depending how long it takes to sellyourproperty.Thepayoutand penalty amount you receive from your lender today will be different a couple of weeks or months from now

•Ifprepaymentisanoptionyourlender included in your current mortgage, make a sizeable one before you discharge your mortgage.Thisreducestheoutstanding amount, thereby reducing the interest owed and penalty

•Ifyou’rerenewing,reassessyour needs. Do you need to consolidate higher-interest debts, or money for a major renovation? Do you want to change your payment frequency, make prepayments, or increase your mortgage payments to pay off your mortgage sooner? Above all,askyourselfifyou’resatisfiedwiththeservices(andservice)your current lender provides, and can they offer you a better rate or a blended rate option? It pays to shop around

Guard against the unexpectedWithalittlepreparation,youcan guard yourself against any unexpectedcostsandfeesthatmayseemingly come out of nowhere when you break a mortgage.

Afew‘extras’thatyoumaynotbeexpectingcaninclude:

•Thelender’sadministrationfee

•Legaland/ordisbursementfees to discharge the old mortgage

•Legaland/ordisbursementfees to register the new mortgage

•“CashBack”repayment,depending on the type of mortgage you originally obtained

It’sbesttofindoutfromyourmortgage-holder (and your lawyer ifneeded)exactlywhatadditionalfeesyou’llbeexpectedtopay.

A mortgage is most likely the largest financial commitment you’llevermake,sodoingsomelegwork at your end is definitely worthwhile. Consider and compare packages offered by each lender – interest rates, features like prepayments or increasing regular payments, and services. Also, remember that interest rates are often negotiable (of course, at Alterna, you always get our best, no-haggle rate with our FairRatePricing™).

Most of all, read your mortgage agreement carefully before signing, and be sure to ask questionsifthere’sanythingyoudon’tunderstand,includingpenaltiesandfees.Thiswillensure you can weigh the costs against the benefits before making a decision you have to live with for a while.

Whetheryou’rereceivinganinheritance, severance payout, or lottery winnings, knowing just what todowithasuddeninfluxofcashcan put your head in a twirl. Do you pay off your mortgage, invest for the future, or just spend the money?

Temptingasitmaybetosplurgeon new things – to spend it now – might not prove to be your wisest investment. And, with all the investmentoptionsoutthere,it’shard to know where to put your money.

Short-term,long-term,tax-free– your Alterna Personal Banking representative can help you prepare a financial plan for your newfound dollars that will work for you. Alreadyhaveaplan?Whynotgetasecond opinion? A second opinion will either confirm that you are on the right track or identify other importantoptions–afterall,it’syourmoney, and it should continue to work its hardest for you. Drawing on the various financial tools, products and services available, your Alterna Personal Banker will work with our team of Investment Specialists to analyze your needs and build a plan that aligns with your short- and long-term goals.

Contact your Alterna Personal Banking representative today to book an appointment to prepare a Personal Investment Plan, and speak further about your options.

Alterna now offers all the products you need through our partnership with Qtrade Financial Group — from straightforward term deposits and index-linked terms to mutual funds*, stocks*, bonds*, and other professionally managed investment solutions, including socially responsible investments.

have the peace of mind knowing that, in the event of your death, your spouse will not be burdened with the financial stress of mortgage debt during the grieving process. WithLifecoverage,thefinancialdreams and plans of your family will remain intact.

If you choose life coverage on your mortgage, you can also purchase optional riders, including critical illness, disability and loss of employment coverage.

Critical Illness CoverageCriticalillnessisnotsomethingwe’dlike to face at any point in our lives, but since we can never completely eliminatetheriskofgettingill,it’simportant to take the necessary precautionsnowsothatyou’reprotected if the worst should happen.

Consider this; every hour of every day, an average of 20 Canadians are diagnosed with some type of cancer. 1 And given that nine out of ten Canadians over the age of 20 have at least one risk factor for heartdiseaseandstroke,it’snowonder that cardiovascular disease isCanada’snumberonekillerandpublic health threat.2

If you suffer a stroke, heart attack or are diagnosed with a life-threatening cancer, critical illness insurance pays the outstanding mortgage balance from the date of your diagnosis, plus accrued interest, plus settlement interest.

Disability CoverageWhenitcomestodisabilityinsurance,oftentimes,familiesdon’tconsider its importance – especially

when they consider themselves well protected with life insurance. But what would happen if you suffered an injury and were unable to work? Whatfinancialhardshipswouldyouand your loved ones go through just trying to pay your mortgage andmonthlyexpenses?It’sascarythought for most.

Even if you have coverage through your employer, in most cases, people are shocked to learn how little this amount really is. Even employer plans that would be considered‘good’onlypaytwo-thirds of gross income and often aretaxable.AndaccordingtotheCanadianLifeandHealthInsuranceAssociation, one in three people, on average, will be disabled for 90 days or more at least once before they reach age 65.3

When you buy a home, you want security to go along with it. Your home is a place where memories are created; it is a place to watch children grow, to celebrate life and place to support each other during times of sorrow. Your house is a big investment and it’s important to ensure it is protected in the event of the unexpected. Have you ever thought of what you would do if you had to sell your home due to a family tragedy such as a job loss, critical illness, sickness, accident or death?

The good news is that even though unexpected tragedies do happen, you can protect yourself and your loved ones from financial heartaches. Group Mortgage Protection from Alterna is a monthly premium product that helps protect your family’s home for the life of your mortgage.

Sowhat’sthebenefittohavingdisability insurance? Disability insurance makes your mortgage payments if you become disabled.Thisensuresyourfamily’smostimportantassetis protected and then you can use your company insurance payments towards maintaining yourfamily’scurrentlifestylewhile you recover.

Loss of Employment CoverageIntoday’seconomynojobis truly secure, involuntary loss of employment insurance will help you breathe a sigh of relief.Theprogrammakesyourmortgage payments for you if youunexpectedlyloseyourjob.

Peace of MindDespite all the possible misfortunes we need to consider, rest assured that coverage can be added at any time,it’seasytoenrolandit’saffordable.Havingpropercoverage reduces your and yourfamily’sriskandworry,itprotects your credit rating and thebenefitsaretax-free.Ifyouhave a mortgage at Alterna, contact your representative to find out what protection you currently have, and how to get the protection and peace of mind you and your family need.

1 Source: Canadian Cancer Society2Source:2010HeartandStroke

Foundation Annual Report on Canadian’sHealth

3Source:CanadianLifeandHealthAssociation Inc.

*Article courtesy of CUMIS

some quality playtime. And, with electricity prices set to increase, there’snotimelikethepresenttoimplement this simple practice.

Play mealtime switch-up: go veggie. Embrace the meatless

diet,evenifit’sjustforadayor twoaweek.Therearetonsofcreative and flavourful vegetarian recipesoutthere.You’llhelp reduceoursociety’srelianceonfactory-farming (which adds to harmfulgreenhousegasses),plusincrease the fibre in your diet. Livestockanddoctorseverywherewill applaud.

Put the debit card away. Do you

really, really need that new

whatchamacallit?Landfillsarefullto the brink of things we throw away, and filling at an alarming rate. Cut back on the amount of “stuff”youpurchase,whetherit’sgarden gnomes or electric domes –you’llnotonlysaveyourgarbagecollector’sback,you’llhelpslowtherateofgrowing‘landfillhills’inour

landscape.

Clean green. Or should it be ‘green clean’?Whicheverwayyou put it together,

it goes a long way to reducing the chemicalsandtoxicby-productsreleased into our environment. Got a stubborn sink stain? Use baking soda to get the grime off. Dirty windows? Good old vinegar

and water will take care of that. Effective plant-based and eco-friendly cleaners and detergents are widely available for every tough household job, from windows to laundry, and yes, even the - *gasp!* - toilet.

As you can see, these are all small, easily-digested changes we can all makeinourdailyliving.Youcangogreen painlessly a bit at a time, or go whole-hog and take on bigger ‘green-ness’.Whateveryoudecideto do, every little bit helps.

† Rates subject to change without notice.

Magnifying the Mortgage Fine Print

Since Earth Day actually fell on Good Friday this year, we celebrated it a day early by participating in the Alterna 20 Minute Challenge. Staff donned gloves and grubbies to do their part for a quick spring cleaning by picking up garbage around the various facilities.

Here at Alterna, we do what we can to reduce our environmental footprint with a company-wide waste and recycling program, an eco-friendly printer for producing our printed material…even our coffee cups are ‘green’ – every staff member has a reusable mug for their daily Fair Trade java.

This year’s AGM, as in previous years, was a ‘carbon-neutral’ event.

Passwords are a first line of defense in keeping attackers out ofacompany’snetworkaswellasyour own personal online activities, but all too often they are viewed as a nuisance or more trouble than they’reworth.Theresultisterriblesecurity.

A hacker group called Gnosis, for example,recentlycompromisedGawker.com’sdatabaseandpostedthe usernames and passwords of 1.3millionusers.Ananalysisofthe 188,279 different passwords shows the list to be full of security no-nos.Over3,000userschose“123456”and2,000peopleused“password.” Coming in third place was“12345678”with1,000users. Also,astudyofmorethan30millionpasswordsexposedwhenRockyou.com was hacked found that almost half used common dictionary words, names, or sequential characters on the keyboard, such as “qwerty” from the top row of English-language keyboards.

In addition to choosing weak passwords, many people use the same password for numerous accounts, placing themselves at risk. Once a hacker cracks a password, it’sasimplemattertofindsensitivedata as well as personal email and bank accounts. Fortunately, it’sfairlysimpletocreateagood,memorable password.

Password Do’s… and Don’tsYoucanmakeitdifficultforhackers by following some password best practices:•Keepadifferentpasswordforall

of your accounts

•Everytimeyou’reaskedtocreate a password, make it a brand new one. Change your passwords periodically

•Keepyourpasswordasecret;don’tshareitevenwith a trusted coworker or family member

•Besurenooneislookingover your shoulder when you type your password

•Keepyourpasswordreminders in a secret place thatisn’teasilyvisible

•Neverwriteyourpasswordon a sticky and put it on your monitor or under your keyboard

Here are some things to avoid in choosing a password:•Avoidsequencesorrepeated

characters, such as 22222 or 12345orqwertyorasdfg

•Neverusetheword“password”

•Donotuseyourfirstname,last name or username

•Skipalldictionarywords–even those with an added number or character in front or back, or a number substitution

•Avoidnamesoffamilymembers, friends or pets

•Don’tusepersonalinformation about yourself or family members in passwords

*Article courtesy of the Computer SecurityInstitute,http://gocsi.com/

Pitching in - Denise R., Alterna employee

*Mutual funds and other securities are offered through Qtrade Advisor, a division of Qtrade Securities Inc., a Member Canadian Investor Protection Fund. Mutual funds are also offered through Qtrade Asset Management Inc., member MFDA. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

Ottawa Corporate Office

400 Albert Street Ottawa, ON K1R 5B2

Toronto Corporate Office

165 Attwell Drive Toronto, ON M9W 5Y5

Alterna Savings TeleService Centre

Toll Free: 1.877.560.0100

Toronto: 416.252.5621

Ottawa: 613.560.0100

Alterna Bank TeleService Centre

Toll Free: 1.866.560.0120

Gatineau: 819.595.6980

Ottawa: 613.560.0120

FoundingMember of CBSROntario

Alterna is a member of

alterna.ca5

Now or later? Understanding the saving and tax implications of cashing out your severance payA recent announcement by the federal government regarding the elimination of severance packages to Public Service Alliance of Canada (PSAC) employees will potentially have a great impact on many of our Alterna members and clients. We’ve recognized the need for guidance and advice to make the right decision, and have created this webinar to help members understand the implications of cashing out their severance pay now or later – a decision that could have a big impact on how they live tomorrow.

Upsizing/Downsizing your homeBuying a home is one of the largest financial purchases you’ll ever make. You deserve to have a great experience as a homebuyer, and the knowledge to make smart decisions through professional guidance and advice. We’ve posted a series of educational webinars to help you identify your home buying needs, provide information you need to know before you buy, plus solid advice and solutions to make you comfortable in your new home.

Investing in Rental Properties Being a landlord comes with a different set of responsibilities and legal obligations from regular home ownership. Arm yourself with the facts about rental property investments and how Alterna can help you make the right choice.

Magnifying the Mortgage Fine PrintOkay, pop quiz: do you know how much it will cost to break your mortgage? If not, you’re not alone – it’s a common complaint lenders and the Financial Consumer Agency of Canada (FCAC) hear often. And it can cost you big bucks if you didn’t take the time to read and understand it.See page 2 for details.

Spring 2011

Tele-ClassesJune 15 - Managing Stress and Personal Leadership with professional trainer Wendy Woods, Principal of Watershed Training SolutionsLearn to manage stress and daily challenges with ease, and add more ‘life’ to your living

Time: 7:00 to 8:00 pm

September 14 - Customer Service, with special guest retail specialist Kathryn HotteDiscover the keys to providing great service for your customers and clients that will help grow and sustain your business

Time: 7:00 to 8:00 pm

RSVP with Jean Barrett jean.barrett@alterna.ca

Networking CaféSeptember 27 - Marketing Tips

and Tricks

October 25 - Book Club: The Most Successful Small Business in the World

Time: 6:00 to 8:30 p.m. Location: Centre for Social Innovation

Alterna Boardroom 215 Spadina Ave., Toronto

RSVP with Jean Barrett jean.barrett@alterna.ca

Lunch and Learn Now or later? Understanding the saving and tax implications of cashing out your severance pay

Date: Wednesday, May 25 Time: 12 to 1 p.m., Lunch will be providedLocation: Alterna Savings Board Room,

400 Albert Street, Ottawa

RSVP to Albert Street Branch Reception or call 613.560.0100 ext. 6950

Being a co-op means we automatically have common ground with other co-ops: improving the lives of people through co-operative action. Alterna Savings works with a number of other co-ops, including the Canadian Co-Operative Association and the Ontario Cooperative Association to do just that.

A few of the Co-op programs we worked with in 2010 include:

•TheCanadianCo-operativeAssociationWomen’sMentorship Program, helping women employed with credit unions in developing countries gain training and leadership skills

•Co-operativeYoungLeaders,helpingteensdevelopleadership skills, network and make new friends while learning about co-operative principles

•Housingco-ops,liketheCo-operativeHousingFederationofToronto,openingthedoorsofopportunity through educational scholarships

Read about our community involvement and support in our 2010 Community Report, “Building Community, Creating Access”, available on alterna.ca.

Ifyou’reamemberattheBayStreet(Toronto)branch,youmay recognize that friendly smile.

Bernadette will be travelling to Glasgow, Scotland a little later this year to attend theWorldCouncilofCreditUnions Annual Meeting and meet fellow co-operators from around the globe.

Each year, in partnership with the Canadian Co-operative Association(CCA),Alterna

Co-ops Helping Co-opsAlterna ‘Webucation’

what’s inside

For those of you who haven’t already registered for AlternaSphere, now’s a great time to do so.

AlternaSphere is our Advisory Panel, and is a direct line to you, our members, for feedback on creative designs and testing, polls, surveys, and more. As members of your credit union, we want to hear what you think.

We’ve got a lot of things planned for a little later in the year – being part of AlternaSphere will give you an inside scoop and sneak peek at what’s happening, plus the chance to give us your two cents’ worth.

Check out AlternaSphere by clicking on the AlternaSphere button from the Alterna Savings home page.

We look forward to working with you!

Pssst! Register for AlternaSphere and stay tuned to win cool prizes like an Apple iPad!

Alterna Advisors

TheAlternaSavingsAnnualGeneralMeetingheldonApril13thsaw four new board members voted in, a good turnout in both OttawaandToronto,andagreatQ&AsessionformemberswithseniormanagementandtheBoard.Thenewlivepollingfeatureintroduced at the meeting was well-received, and provided some great member insight and direction for future meetings.

Congratulations to the elected board members, Faren Bogach, Mary-LuBrennan,RandalHeide,andNormAyoub.

For the complete rundown oftheevening’sevents and results, visit alterna.ca and click on the “Making Connections 2011 AGM” logo.

1 Sarasvati Maharajh and Nikki Reid, Alterna Employees 2 John Conway, Investment Specialist and Brent Moran, Personal Financial Advisor 3 Kevin Lindsey, Board of Directors 4 Doug McGee, Vice President, Financial Advisory Services, Paul Sullivan, Alterna Investment Specialist, Donnie Doran, Alterna Investment Specialist, Barry Ferguson, Vice President Wealth Management, Qtrade Financial Group 5 Live polling 6 A member has the floor during the question & answer period

2011 AGM a Success!

Savings runs the “CSR Idol” Award.ThisisanopportunityforAlterna staff and members to vote for the Alterna representative who they believe demonstrates leadership in their community. Past winners are Francine Dick, NikkiReidandChristineRacine.

Thenexttimeyou’reintheBay Street branch, say hello to Bernadette, and be sure to congratulate her.

Good luck in Scotland Bernadette!

Alterna Savings and Central 1 were pleased to present the 2011 Gary Gillam Award for Social Responsibility to Donald Altman for his work and dedication to promoting credit unions as an ethical choice and alternative to traditional banks.

Donald has been a Board member at Alterna Savingsfor33years,andwas elected Chair of the Board for 17 of those years.Heconsistentlycontributedstrongvisionandleadershipthat helped Alterna grow into the supportive, community-based organization it is today.

WANTED

Alterna refers to Alterna Savings and Credit Union Limited (“Alterna Savings”) and its wholly owned subsidiary CS Alterna Bank (“Alterna Bank”). Together, Alterna Savings and Alterna Bank form the Alterna Financial Group.

For your viewing pleasure, Alterna’s new “Showcasing our Success”video!Empowering people, changing livesWe’re pleased to announce the release of the “Showcasing our Success” Micro-Finance video, demonstrating how our Micro-Finance program empowers local small business owners and contributes to positive life changes.

According to the Canadian Cancer Society, 45% of men will develop cancer in their lifetime. Whynotdosomethingextra-special for the men in your life thisyear?Helpincreasecancerawareness in the community and raise funds to help local cancer patients get great care close to home.

Join us for the annual Alterna Do It For Dad! on June 19th in support of the Ottawa Regional CancerFoundation.It’sagreatfamily outing, with a 2 km FamilyFunWalk,ora5kmor10 km race for those wanting a quicker pace.

Toregisterorformoreinformation about the event, visit www.ottawacancer.ca/doitfordad.aspx.

See you there!

Biz CampWe’reproudto announce 14-year-old Rahul Daggul as the winner ofthispastwinter’sAlternaBizCampatTheLearningEnrichment Foundation. Rahul is in the International Business ProgramatWestonCollegiateInstitute, and had never been involved in setting up a new business or business course of any kind.

WiththehelpofBizCampcoaches, after school research and workshops, Rahul tapped into his entrepreneurial and personal strengths, developing a youth tutoring business in just6weeks.Hispassionforsubjects like math, English and science – and turning that into a viable business – were what impressed the judges and earned Rahul the top prize of $1,000.

Alterna’s been a leader in supporting small and budding businesses through micro-finance for over a decade. The Community Micro-Loan Program provides small loans for those businesspeople and entrepreneurs that larger financial institutions would not. The new video features some of the highlights and first-hand accounts of success as a result of this innovative program.

Are you a budding entrepreneur or trying to get your micro-biz off the ground? Be sure to check out the video to learn more about how we’ve helped people just like you become a real-life success, and changed their lives for the better.

The “Showcasing our Success” video is posted on alterna.ca.

And your 2011 Corporate Social Responsibility Idol is… Bernadette Baker!

2 Smart tips for ‘lump sum’ settlements

3 Mortgage Insurance: Are you covered?

3 Easy, everyday earth-saving tips

4 Passwords: Protect your information

5 Co-ops Helping Co-ops

5 Your 2011 Corporate Social Responsibility Idol

6 Upcoming ‘webucation’, tele-classes and more!

1

2

3 4 5 6

Congratulations

Rahul, and good luck!

2011 Gary Gillam Award Winner

Now available on alterna.ca

This newsletter is printed on 100% post-consumer recycled paper using FSC-certified sustainable methods like vegetable-based inks and renewable energy sources. Which means we saved 29 trees, almost 20,000 gallons of water, and kept 6,500 lbs of emissions out of the air and 2,500 lbs of solid waste out of landfills versus traditional printing methods.

Want to go paperless altogether? Sign up for the e-version of fresh by writing fresh@alterna.ca. Be sure to include your name and mailing address.

Looking for fresh e-news?

Johanne Charbonneau, Chair Alterna Savings, Donald Altman, Gillam award recipient (Alterna Savings member), Jack Smit, Chair of Central 1

Ottawa Corporate Office

400 Albert Street Ottawa, ON K1R 5B2

Toronto Corporate Office

165 Attwell Drive Toronto, ON M9W 5Y5

Alterna Savings TeleService Centre

Toll Free: 1.877.560.0100

Toronto: 416.252.5621

Ottawa: 613.560.0100

Alterna Bank TeleService Centre

Toll Free: 1.866.560.0120

Gatineau: 819.595.6980

Ottawa: 613.560.0120

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Now or later? Understanding the saving and tax implications of cashing out your severance payA recent announcement by the federal government regarding the elimination of severance packages to Public Service Alliance of Canada (PSAC) employees will potentially have a great impact on many of our Alterna members and clients. We’ve recognized the need for guidance and advice to make the right decision, and have created this webinar to help members understand the implications of cashing out their severance pay now or later – a decision that could have a big impact on how they live tomorrow.

Upsizing/Downsizing your homeBuying a home is one of the largest financial purchases you’ll ever make. You deserve to have a great experience as a homebuyer, and the knowledge to make smart decisions through professional guidance and advice. We’ve posted a series of educational webinars to help you identify your home buying needs, provide information you need to know before you buy, plus solid advice and solutions to make you comfortable in your new home.

Investing in Rental Properties Being a landlord comes with a different set of responsibilities and legal obligations from regular home ownership. Arm yourself with the facts about rental property investments and how Alterna can help you make the right choice.

Magnifying the Mortgage Fine PrintOkay, pop quiz: do you know how much it will cost to break your mortgage? If not, you’re not alone – it’s a common complaint lenders and the Financial Consumer Agency of Canada (FCAC) hear often. And it can cost you big bucks if you didn’t take the time to read and understand it.See page 2 for details.

Spring 2011

Tele-ClassesJune 15 - Managing Stress and Personal Leadership with professional trainer Wendy Woods, Principal of Watershed Training SolutionsLearn to manage stress and daily challenges with ease, and add more ‘life’ to your living

Time: 7:00 to 8:00 pm

September 14 - Customer Service, with special guest retail specialist Kathryn HotteDiscover the keys to providing great service for your customers and clients that will help grow and sustain your business

Time: 7:00 to 8:00 pm

RSVP with Jean Barrett jean.barrett@alterna.ca

Networking CaféSeptember 27 - Marketing Tips

and Tricks

October 25 - Book Club: The Most Successful Small Business in the World

Time: 6:00 to 8:30 p.m. Location: Centre for Social Innovation

Alterna Boardroom 215 Spadina Ave., Toronto

RSVP with Jean Barrett jean.barrett@alterna.ca

Lunch and Learn Now or later? Understanding the saving and tax implications of cashing out your severance pay

Date: Wednesday, May 25 Time: 12 to 1 p.m., Lunch will be providedLocation: Alterna Savings Board Room,

400 Albert Street, Ottawa

RSVP to Albert Street Branch Reception or call 613.560.0100 ext. 6950

Being a co-op means we automatically have common ground with other co-ops: improving the lives of people through co-operative action. Alterna Savings works with a number of other co-ops, including the Canadian Co-Operative Association and the Ontario Cooperative Association to do just that.

A few of the Co-op programs we worked with in 2010 include:

•TheCanadianCo-operativeAssociationWomen’sMentorship Program, helping women employed with credit unions in developing countries gain training and leadership skills

•Co-operativeYoungLeaders,helpingteensdevelopleadership skills, network and make new friends while learning about co-operative principles

•Housingco-ops,liketheCo-operativeHousingFederationofToronto,openingthedoorsofopportunity through educational scholarships

Read about our community involvement and support in our 2010 Community Report, “Building Community, Creating Access”, available on alterna.ca.

Ifyou’reamemberattheBayStreet(Toronto)branch,youmay recognize that friendly smile.

Bernadette will be travelling to Glasgow, Scotland a little later this year to attend theWorldCouncilofCreditUnions Annual Meeting and meet fellow co-operators from around the globe.

Each year, in partnership with the Canadian Co-operative Association(CCA),Alterna

Co-ops Helping Co-opsAlterna ‘Webucation’

what’s inside

For those of you who haven’t already registered for AlternaSphere, now’s a great time to do so.

AlternaSphere is our Advisory Panel, and is a direct line to you, our members, for feedback on creative designs and testing, polls, surveys, and more. As members of your credit union, we want to hear what you think.

We’ve got a lot of things planned for a little later in the year – being part of AlternaSphere will give you an inside scoop and sneak peek at what’s happening, plus the chance to give us your two cents’ worth.

Check out AlternaSphere by clicking on the AlternaSphere button from the Alterna Savings home page.

We look forward to working with you!

Pssst! Register for AlternaSphere and stay tuned to win cool prizes like an Apple iPad!

Alterna Advisors

TheAlternaSavingsAnnualGeneralMeetingheldonApril13thsaw four new board members voted in, a good turnout in both OttawaandToronto,andagreatQ&AsessionformemberswithseniormanagementandtheBoard.Thenewlivepollingfeatureintroduced at the meeting was well-received, and provided some great member insight and direction for future meetings.

Congratulations to the elected board members, Faren Bogach, Mary-LuBrennan,RandalHeide,andNormAyoub.

For the complete rundown oftheevening’sevents and results, visit alterna.ca and click on the “Making Connections 2011 AGM” logo.

1 Sarasvati Maharajh and Nikki Reid, Alterna Employees 2 John Conway, Investment Specialist and Brent Moran, Personal Financial Advisor 3 Kevin Lindsey, Board of Directors 4 Doug McGee, Vice President, Financial Advisory Services, Paul Sullivan, Alterna Investment Specialist, Donnie Doran, Alterna Investment Specialist, Barry Ferguson, Vice President Wealth Management, Qtrade Financial Group 5 Live polling 6 A member has the floor during the question & answer period

2011 AGM a Success!

Savings runs the “CSR Idol” Award.ThisisanopportunityforAlterna staff and members to vote for the Alterna representative who they believe demonstrates leadership in their community. Past winners are Francine Dick, NikkiReidandChristineRacine.

Thenexttimeyou’reintheBay Street branch, say hello to Bernadette, and be sure to congratulate her.

Good luck in Scotland Bernadette!

Alterna Savings and Central 1 were pleased to present the 2011 Gary Gillam Award for Social Responsibility to Donald Altman for his work and dedication to promoting credit unions as an ethical choice and alternative to traditional banks.

Donald has been a Board member at Alterna Savingsfor33years,andwas elected Chair of the Board for 17 of those years.Heconsistentlycontributedstrongvisionandleadershipthat helped Alterna grow into the supportive, community-based organization it is today.

WANTED

Alterna refers to Alterna Savings and Credit Union Limited (“Alterna Savings”) and its wholly owned subsidiary CS Alterna Bank (“Alterna Bank”). Together, Alterna Savings and Alterna Bank form the Alterna Financial Group.

For your viewing pleasure, Alterna’s new “Showcasing our Success”video!Empowering people, changing livesWe’re pleased to announce the release of the “Showcasing our Success” Micro-Finance video, demonstrating how our Micro-Finance program empowers local small business owners and contributes to positive life changes.

According to the Canadian Cancer Society, 45% of men will develop cancer in their lifetime. Whynotdosomethingextra-special for the men in your life thisyear?Helpincreasecancerawareness in the community and raise funds to help local cancer patients get great care close to home.

Join us for the annual Alterna Do It For Dad! on June 19th in support of the Ottawa Regional CancerFoundation.It’sagreatfamily outing, with a 2 km FamilyFunWalk,ora5kmor10 km race for those wanting a quicker pace.

Toregisterorformoreinformation about the event, visit www.ottawacancer.ca/doitfordad.aspx.

See you there!

Biz CampWe’reproudto announce 14-year-old Rahul Daggul as the winner ofthispastwinter’sAlternaBizCampatTheLearningEnrichment Foundation. Rahul is in the International Business ProgramatWestonCollegiateInstitute, and had never been involved in setting up a new business or business course of any kind.

WiththehelpofBizCampcoaches, after school research and workshops, Rahul tapped into his entrepreneurial and personal strengths, developing a youth tutoring business in just6weeks.Hispassionforsubjects like math, English and science – and turning that into a viable business – were what impressed the judges and earned Rahul the top prize of $1,000.

Alterna’s been a leader in supporting small and budding businesses through micro-finance for over a decade. The Community Micro-Loan Program provides small loans for those businesspeople and entrepreneurs that larger financial institutions would not. The new video features some of the highlights and first-hand accounts of success as a result of this innovative program.

Are you a budding entrepreneur or trying to get your micro-biz off the ground? Be sure to check out the video to learn more about how we’ve helped people just like you become a real-life success, and changed their lives for the better.

The “Showcasing our Success” video is posted on alterna.ca.

And your 2011 Corporate Social Responsibility Idol is… Bernadette Baker!

2 Smart tips for ‘lump sum’ settlements

3 Mortgage Insurance: Are you covered?

3 Easy, everyday earth-saving tips

4 Passwords: Protect your information

5 Co-ops Helping Co-ops

5 Your 2011 Corporate Social Responsibility Idol

6 Upcoming ‘webucation’, tele-classes and more!

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2

3 4 5 6

Congratulations

Rahul, and good luck!

2011 Gary Gillam Award Winner

Now available on alterna.ca

This newsletter is printed on 100% post-consumer recycled paper using FSC-certified sustainable methods like vegetable-based inks and renewable energy sources. Which means we saved 29 trees, almost 20,000 gallons of water, and kept 6,500 lbs of emissions out of the air and 2,500 lbs of solid waste out of landfills versus traditional printing methods.

Want to go paperless altogether? Sign up for the e-version of fresh by writing fresh@alterna.ca. Be sure to include your name and mailing address.

Looking for fresh e-news?

Johanne Charbonneau, Chair Alterna Savings, Donald Altman, Gillam award recipient (Alterna Savings member), Jack Smit, Chair of Central 1