Business Code of Conduct

At Coast Capital Savings Federal Credit Union (“Coast Capital Savings”) we help empower you to achieve what’s important in your life. As a business owner, we understand that your business is an important part of your life and we are here to provide solutions that are right for you and your business.

Every business needs a hand with understanding their needs, and building a solid banking relationship is the first step. At Coast Capital Savings, our commitment to you starts with Simple Financial Help; products and services that are easy to understand and expert advice to help your business grow.

To treat your business like a big business and develop strong, positive relationships, we’ve put our promise to you in writing, along with how we can address any concerns that may arise. This Code of Conduct will not limit your or our legal rights.

Open Communication

SIMPLE…we will communicate clearly and openly and we will provide you with solutions that are easy to understand.

FINANCIAL…we will deliver financial products and services that are simple and easy to use and understand.

HELP…We will provide documents that are written in clear and understandable language, free from buzzwords and that concentrate on what is important in your life.

Accountability

At Coast Capital Savings, we have a Commercial Banking team that is empowered to help our business members achieve what is important to them and their business. To make sure that our team lives up to its promises, we have appointed the Manager, Small Business Compliance, Policy and Operations to ensure this Code is implemented and followed by all our employees when dealing with our business members.

Credit Process

Credit Application

In keeping with our promise to provide Simple Financial Help, Coast Capital Savings will make the following information available to assist you in applying for business credit:
  • Clear instructions on how to apply for credit;
  • An explanation of the requirements for obtaining credit;
  • Guidelines and advice on preparing a business plan; and
  • An estimate on the time it will take us to make a credit decision.
Credit Application - Approval

Coast Capital Savings assesses each credit application based on its own merits. Once a credit application is approved, we will inform you of the terms and conditions of financing including any further information and documentation we may need from you. This information can be provided in writing at your request.

Credit Application – Decline

Should your credit application be declined, Coast Capital Savings will inform you about:
  • The main reason(s) for the decision;
  • What we require in order for us to reconsider your application; and
  • Where to find information for alternative sources of financing, such as government programs and venture capital.
Change in circumstances in the credit relationship

There are times when your business may experience a significant business change, either positive or negative, that can affect your credit relationship with Coast Capital Savings. When this occurs, we will:
  • Review the existing terms and conditions before deciding if any action should be taken;
  • Advise if there is additional information we require from you and give you reasonable time and opportunity to provide this information;
  • Upon review and under normal circumstances, we will provide you with a minimum of 15-calendar days’ notice of any actions or measures we will undertake in response to a change in the credit relationship; and
  • Notify you, in writing, of any modification affecting your credit relationship with us (e.g. change in terms and conditions, fees or financing).

Tell us about your experience

If you have a good experience with Coast Capital Savings, we want to celebrate it. If you have bad one, we want to fix it.

In keeping with our promise of Simple Financial Help, Coast Capital Savings has developed a simple and efficient process to address any concerns about your experience with us, including whether you think we are meeting our commitments under this Code of Conduct.

Resolving Your Complaint

As a valued member of Coast Capital Savings we appreciate your feedback. We’re committed to doing everything we can to resolve your concerns.

Let us work with you to resolve your complaint using the following steps:

Step 1: Talk to us

We’re here to help! Let us know how we can assist you. You can speak to us in a branch, or by calling our Contact Centre team:

Toll-free: 1-888-517-7000

If our team member is unable to help you with your complaint, please ask the individual you are working with to escalate your complaint to management.

Our management and senior leadership team is here to help guide you through the complaint process to resolve your concerns.

Step 2: Is there more we can do?

If you require further assistance with your complaint after you have already worked with management or our senior leadership team, please ask the individual you are working with to escalate the complaint on your behalf to the Office of the CEO.

Attn: Office of the CEO, Coast Capital Savings
#800 - 9900 King George Blvd.
Surrey, BC V3T 0K7

officeoftheceo@coastcapitalsavings.com

Local: 604.517.7764
Toll-free: 1.844.517.7764

Step 3: Contact the Coast Capital Savings Ombudsperson

If your complaint has been escalated through Steps 1 and 2 and you are not satisfied with the resolution, please contact the Coast Capital Savings Ombudsperson:

Attn: Ombudsperson, Coast Capital Savings
#800 - 9900 King George Blvd.
Surrey, BC V3T 0K7

ombudsperson@coastcapitalsavings.com

Local: 604.517.7765
Toll-free: 1.844.517.7765

Step 4: Contact the Ombudsman for Banking Services and Investments (OBSI)

If you are not satisfied with the final decision from the Coast Capital Savings Ombudsperson, or if 90 days have passed since the escalation of your complaint to Step 2, you may contact the Ombudsman for Banking Services and Investments (OBSI) about your complaint.

401 Bay Street, Suite 1505
PO Box 5
Toronto, ON M5H 2Y4

ombudsman@obsi.ca
www.obsi.ca

Toll-free: 1.888.451.4519


Other useful information:
Financial Consumer Agency of Canada (FCAC)

While the Financial Consumer Agency of Canada (FCAC) does not resolve complaints, you may contact FCAC at any point during the complaint process for further information surrounding the complaint handling process:

427 Laurier Avenue West, 6th Floor
Ottawa, ON K1R 1B9


Consumer Contact Centre: 1.866.461.3222
Office of the Privacy Commissioner of Canada

Office of the Privacy Commissioner of Canada
30 Victoria Street
Gatineau, Quebec K1A 1H3


Toll-free:1.800.282.1376