Our policies

Privacy Policy

Privacy Policy was last amended May 2026.

Download the Privacy Policy PDF

As a member of Prospera, you trust us with your personal information and it’s important to us that we maintain your trust. We’re committed to maintaining the security, confidentiality and privacy of your personal information. Our Customer Privacy Policy, developed in accordance with applicable privacy laws, is in place to protect your personal information. 

Hold Funds Policy

(For the purpose of this policy, “cheque” includes negotiable instruments such as certified cheques, bank drafts or money orders and other deposit transfers to your account(s) such as Electronic Funds Transfers (EFT).)

Hold-funds period for cheque deposits

When you deposit a cheque into your Prospera personal or business deposit account, you may not be able to access the full amount right away. We may place a hold on some or all of the funds until the cheque is cleared at the financial institution on which it is drawn. This is called a “hold-funds period”. Any funds subject to a hold-funds period will not be available for withdrawal, transfer (EFT or Interac e-Transfer®), or bill payments until the hold is released.

Hold-Funds period

When you deposit a cheque into your Prospera personal or business deposit account, we will apply a hold-funds period as follows:

Canadian dollar cheques

• For a Canadian dollar cheque drawn on a financial institution’s branch located in Canada, funds will be held for a maximum of four (4) business days, starting from the business day after you deposit the cheque.

United States dollar cheques

• For a United States dollar cheque drawn on a financial institution’s branch located in Canada, funds will be held for four (4) business days*, starting from the business day after you deposit the cheque, or as otherwise extended by us in our sole discretion.
• For a United States dollar cheque drawn on a financial institution’s branch located in the United States, funds will be held for 10 business days, starting from the business day after you deposit the cheque, or as otherwise extended by us in our sole discretion.
• For a United States dollar cheque drawn on a financial institution’s branch located outside of Canada or the United States, funds will be held for 10 business days, starting from the business day after you deposit the cheque, or as otherwise extended by us in our sole discretion. Cheques must name a United States financial institution as intermediary.

(For the purpose of this policy, “business day” refers to regular weekdays only and excludes Saturdays, Sundays, and statutory holidays.)

Additional rules applicable to personal deposit accounts

For a Canadian dollar cheque drawn on a financial institution’s branch located in Canada and deposited to a Prospera personal deposit account, we will make the first $250 of the funds deposited by cheque available to you immediately, subject to the exceptions set out below.  

Refusing to make funds available and extensions to the hold-funds period

For any cheque deposited to a deposit account with Prospera, we may refuse to make funds available with respect to that cheque, extend the hold-funds period, or refuse to give you access to the first $250 of the funds deposited, in circumstances including (but not limited to) the following:

• a cheque is not encoded with magnetic ink character recognition;
• a cheque is damaged or mutilated;
• a cheque has been endorsed more than once;
• a cheque is deposited six (6) months or more after it was dated;
• a cheque is not issued in Canadian dollars;
• a cheque is issued from an account at a financial institution outside of Canada and payment from the cheque has not been received by us from the foreign financial institution within the initial hold-funds period; or
• we have reasonable grounds to suspect there may be illegal or fraudulent activity in relation to an account.

Additional rules applicable to business deposit accounts

If you deposit a cheque into a Prospera business deposit account, which is held by an eligible enterprise, we may extend the hold-funds period if we have reasonable grounds to believe that there is a material increased credit risk.

(For the purpose of this policy, “eligible enterprise” includes businesses with authorized credit of less than $1 million, fewer than 500 employees, and annual revenues of less than $50 million.)

Factors that can influence the hold-funds period

Additional factors may influence the hold-funds period, including the length of time you have been a member of Prospera, the amount of funds currently held in your account, and the amount and characteristics of the cheque being deposited. In some circumstances cheques may be sent to “collection”, which means that the funds will be credited to your account only once the cheque clears the other financial institution and Prospera has received the funds.

Your Responsibility

Ultimately, you are responsible for any cheque that you deposit to your Prospera deposit account. If a cheque is returned to us for any reason, we will remove the funds from your account, regardless of whether any hold-funds period has expired. Cheques may be returned in circumstances including but not limited to a cheque being drawn on an account with non-sufficient funds (NSF) or on an account that has been closed, or in response to a stop payment request. This may happen even after the hold-funds period on a cheque expires. The placement of a hold, or the release of a hold, does not guarantee that a cheque will not be returned after the hold-funds period has expired.

Should you have any concerns regarding our Hold Funds Policy, please contact our Advice Centre at  1 888 440 4480 or visit one of our branches.

Access to Basic Banking

At Coast Capital Savings Federal Credit Union (“Prospera”) you may open a retail deposit account at any of our branch locations as long as you meet certain conditions. Even if you don’t have an account with us, you may cash Government of Canada cheques or other instruments, free of charge, as long as you meet certain conditions.

In this section, you’ll find information on the conditions for opening a retail deposit account or cashing a Government of Canada cheque or other instrument, as well as lists of acceptable forms of customer identification and Frequently Asked Questions (FAQs).

Opening an account

Required Information

In order to open a retail deposit account you must:

1. Present documents to verify your identity. To satisfy this requirement, either:
1. Present two documents from a reliable source. One document must include your name and address, and the other document must include your name and date of birth. Documentation from a reliable source includes:
1. Identification issued by Government of Canada or government of a province,
2. Recent notices of tax assessments issued by the Government of Canada or the government of a province or municipality,
3. Recent statements of benefits from the Government of Canada or the government of a province,
4. Recent Canadian public utility bills,
5. Recent bank account or credit card statements
6. Foreign passport, or
2. Provide a document from a reliable source that includes your name and date of birth, and arrange for your identify to be confirmed by:
1. A Member in good standing of Prospera, or
2. A Person of good standing in the community where the point or service or branch is located.
2. Allow Prospera to verify the pieces of identification and information you have provided and verify whether any reason to refuse to open a retail deposit account apply to you.
3. Become a member of Prospera.

We will record particulars of any identification document you present to us.

If any piece of identification you present bears your former name, you must also present a certificate evidencing your name change, or a certified copy of that certificate.

If, after we have an opportunity to review the pieces of identification and information provided, and we reasonably suspect misrepresentation of your identity, we may require you to present a Canadian federal or provincial government issued piece of identification that bears your photograph and signature.

Reasons to Refuse

We will refuse to open a retail deposit account if:

1. We reasonably believe the account will be used for illegal or fraudulent purposes;
2. You have a history of illegal or fraudulent activity relating to banks or other financial service providers, and have engaged in this activity less than seven years before you request to open an account;
3. We reasonably believe you knowingly made a material misrepresentation when providing information for the purpose of opening the account;
4. We reasonably believe it is necessary to refuse to open the account to protect our members or employees from physical harm, harassment, or other abuse;
5. You have not provided the identification or information required for account opening; or
6. You refuse or are unable to become a member of Prospera.

If we refuse to open a retail deposit account for you, we will provide a letter advising that we have refused to open the account. The letter will also include information on our complaint handling procedures, contact information for the Ombudsman for Banking Services and Investments as well as for the Financial Consumer Agency of Canada. 

Cashing government cheques or instruments

Required Information

In order to cash your Government of Canada cheque or instrument, you must present us with either:

1. Two valid pieces of identification from a reliable source. One document must include your name and address, the other document must include your name and date of birth. Acceptable documents include:
1. Identification issued by the Government of Canada or the government of a province,
2. Recent notices of tax assessments issued by the Government of Canada or the government of a province or municipality,
3. Recent statements of benefits from the Government of Canada or the government of a province,
4. Recent Canadian public utility bills,
5. Recent bank account or credit card statements,
6. Foreign passports, or
2. One piece of identification that is issued by the Government of Canada or the government of a province and that bears your signature and photograph, or
3. Any document from a reliable source that includes your name and date of birth, and arrange for your identify to be confirmed by:
1. Member of Prospera who is in good standing; or,
2. Person of good standing in the community where the point of service or branch is located.

We are not required to cash a government cheque or instrument if:

1. The Government cheque or instrument is greater than $1,750.00; or
2. There is evidence that the cheque or instrument has been altered or counterfeit; or
3. If Prospera has reasonable grounds to believe that there has been illegal or fraudulent activity in relation to the cheque or instrument.

If we refuse to cash a Government cheque or instrument, we will provide you a letter advising that we have refused to cash the cheque or instrument. The letter will detail Prospera’s complaints procedures, as well as contact information for the Financial Consumer Agency of Canada and our external complaints body.

Note: Any documents required to be presented for the purposes of opening a retail deposit account, accessing funds, or cashing Government cheques or instruments MUST be:

1. Original, valid and not substantially defaced; and
2. In the case of a piece of identification issued by the government of a province, usable for identification purposes under the law of the issuing province.

Frequently Asked Questions

Q: Do I need to make a minimum deposit?

A: No, you don’t need to make a minimum deposit to open a retail deposit account. However, you are required to become a Prospera member and purchase five membership shares. 

Q: Do I need a permanent address to open a retail deposit account?

A: As a federal credit union, we require you to provide a permanent residential address in order to become a member and to open a retail deposit account. Further, we are required by law to request your address, and we may ask you for supporting documentation such as a recent phone bill showing your name and address to verify you live where you say you do.

Q: How do I become a member of Prospera?

A: Once we verify your identification and information provided, you complete an application for membership and purchase five membership shares in the equity capital of Prospera. Upon issuance of the membership shares, we record your name and permanent address in our membership register. From there, you will have all the rights and responsibilities of a member as outlined in our Credit Union Rules.

Q: Do I need to be employed to open a retail deposit account?

A: No, you do not need to be employed to open a retail deposit account. However, we are required by law to ask about the nature of your principal business or occupation.

Q: Can I open a retail deposit account if I’ve been bankrupt?

A: Yes, you may open a retail deposit account even if you have declared bankruptcy, as long as, there is no evidence indicating the bankruptcy was due to fraudulent or illegal activity.

Q: What is a Government of Canada cheque or instrument?

A: Any cheque or instrument issued by the federal government, such as an Employment Insurance, Old Age Security, or GST credit would be considered a ‘Government of Canada cheque or instrument’. Cheques or instruments issued by provincial governments or their agents are not considered ‘Government of Canada cheques or instruments’. 

Whistleblower Reporting

Prospera and its Board of Directors are committed to promoting honesty, integrity and maintaining the highest ethical standards in all activities. Consistent with these values, Prospera does not tolerate any illegal or unethical behaviour, including fraud, criminal acts, regulatory violations, manipulation of accounting and auditing records, or any breach of its internal code of conduct or any policies, procedures, or practices established by Prospera  (and its subsidiaries and affiliates, as applicable).

If you have concerns about wrongdoing or behaviour that could put Prospera’s integrity or reputation at risk, you can report the matter to Prospera by submitting a confidential and anonymous Whistleblower Report.

What to report

Whistleblower Reporting should be used to report concerns of wrongdoing regarding ethics, integrity and compliance, such as:

• Concerns or suspected wrongdoing related to accounting, internal accounting controls or auditing matters
• Any breach of laws or regulations, internal controls or policies by employees or other agents of Prospera
• Any act of dishonesty, or other activity that may be an indication of fraud
• Unauthorized disclosure of confidential information about Prospera, its members or suppliers
• Any other conduct or activity that appears suspicious or unethical, or endangers any individual’s health and safety

What (generally) not to report

Whistleblower Reporting does not replace the other methods already in place to communicate concerns to Prospera. Members and others are encouraged to resolve matters relating to customer service at the branch level where possible, and through our Complaint Resolution Process. For any reason, if you are uncomfortable using these reporting channels, or if you prefer to report your concern through Whistleblower Reporting, you can use Whistleblower Reporting.

How to report

Whistleblower Reporting is a confidential online service operated by an independent company, outside of Prospera, which will alert us to your report. When filing a report, you have the option of choosing to remain anonymous in order to provide vital information to our team regarding a concern.

What you should know

Anonymous reporting can limit our ability to investigate if insufficient information is provided to support taking action. Prospera encourages those using the reporting tool to consider providing contact information if possible, and to record their case number and log-in information as the case investigator may communicate with you as required.

Reporting externally

You also have additional options to report externally to applicable regulators, governmental agencies, law enforcement agencies, or self-regulatory authorities in your jurisdiction. In Canada, this includes the Financial Consumer Agency of Canada and the Office of the Superintendent of Financial Institutions.

Protection from retaliation

Prospera’s Whistleblower Policy protects against any form of retaliation against any individual who makes a good-faith report under the Policy.

Submit a Whistleblower Report

Power of Attorney and Joint Deposit Accounts

What is a Joint Deposit Account?

A joint deposit account is a bank account in which two or more people have ownership rights over the same account. Ownership rights can include the right for all account holders to withdraw or deal with the funds in the account, no matter who deposits the money into the account.

As a joint account holder, you share equal access to the joint deposit account and share equal responsibility for all the transactions made through the account. This means that unless you state otherwise, the other joint account holder(s) is free to make withdrawals or other transactions without your consent, and the funds in the account may be subject to creditors’ rights or other claims that might exist against the other joint account holder(s) member(s). Joint deposit accounts also include the right of survivorship, meaning if one of the joint account holder(s)dies, the assets in the joint deposit account(s) automatically pass to the other joint account holder(s) and do not form part of the deceased’s estate funds. Prospera’s Account Agreement outlines the terms and conditions applicable to joint deposit accounts.

Additional information regarding joint deposit accounts is available on the Government of Canada’s website: What every older Canadian should know about Powers of Attorney (for financial matters and property) and Joint Bank Accounts

What is a Power of Attorney?

A Power of Attorney is a legal document that you sign to give one or more persons the authority to manage your money and property on your behalf. In most of Canada, the person(s) you appoint is called an “attorney”. In spite of the term, the person(s) you choose does not have to be a lawyer, but should be someone you trust.

Among other requirements, you must be mentally capable at the time you sign any type of Power of Attorney for it to be valid. The legal definition of mental capacity may vary among provinces and territories, so we recommend consulting a lawyer before signing a Power of Attorney.

Additional information regarding Power of Attorney, including advantages, risks, and how to choose an attorney, is available on the Government of Canada’s website: What every older Canadian should know about Powers of Attorney (for financial matters and property) and Joint Bank Accounts

What type of Power of Attorney do we accept?

We do not offer our own form of Power of Attorney, but we would accept your own Power of Attorney, so long as it meets the following requirements:

• it is signed by you;
• it is witnessed and dated by a lawyer or notary;
• it complies with the formal requirements of the region where it was signed (province/territory or foreign jurisdiction) and the region where it is accepted; and
• It is the original, notarized or certified true copy.

We will not accept a Power of Attorney that:

• does not meet one or more of the above requirements;
• would require us to monitor the attorney's activity;
• is unclear; or
• is from another financial institution, because it would not allow the attorney to conduct transactions with Prospera.

How to set up a Power of Attorney?

When setting up a Power of Attorney with Prospera, you or your attorney will need to meet our standards for identification: you or your attorney will need to provide two pieces of acceptable identification, one of which must be government-issued and include a photo. We also require a specimen signature from your attorney and an original or original notarized copy of your existing Power of Attorney. Your attorney may be added to your existing account(s) in accordance with the existing Power of Attorney, but your attorney cannot open a new membership on your behalf.

If a Power of Attorney or an attorney's instructions required further review, we will inform you or your attorney that a review is required and will provide a general timeline for the review. If the review is related to potential financial abuse or other illegal activity, we are not required to inform the attorney, and may in fact be prohibited from informing the attorney about the review.

How to cancel the Power of Attorney?

The Power of Attorney can be cancelled at any time, as long as you’re not mentally incapacitated. You will need to provide us with written notice indicating that you wish to cancel the Power of Attorney.

Prospera has adopted a number of voluntary codes of conduct and public commitments designed to protect our members’ interests. The codes and commitments establish the standards you can expect when doing business with Prospera.

1. Guidelines for Transfers of Registered Plans
2. CBA Code of Conduct for Authorized Insurance Activities
3. Commitment on Modified or Replacement of Existing Products & Services
4. Commitment on Powers of Attorney and Joint Deposit Accounts
5. Code of Conduct for the Delivery of Banking Services to Seniors

In response to the requirement for all Canadian financial institutions to collect conductor information under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations, Prospera is updating its policies in accordance with these regulations.

Effective June 19th, 2023, non-members making deposits into another member's account, regardless of amount, will be asked to provide their first, middle (if applicable) and last name. If the deposit hold cash values that could add up to over $10,000, further information such as identification, address and employer information will be required.

Legal 

All content of this site is the property of Prospera unless otherwise noted. Any downloading of text or graphics for purposes other than personal use is prohibited unless authorized by Prospera. Although we strive for accuracy, timeliness and completeness, information and rates quoted are not guaranteed and may change at any time. 
 

Prospera Internet Web Sites 

The Member acknowledges that: The information that may be provided on the Prospera web site is for information purposes only and is not intended to provide specific financial, tax, accounting or legal advice. 

While Prospera believes the information contained on the Prospera web site to be correct and attempts to keep the information current, Prospera does not warrant the accuracy or completeness of any such information and expressly disclaims any liability for errors or omissions in this information; and any links to other web sites are provided for convenience only and no endorsement of any third party products or services is expressed or implied by any information referred to or linked from or to the Prospera web site. 
 

Warranty/Liability 

In order to provide better service, we will occasionally use a "cookie." A cookie is a small piece of information that a web site stores on your web browser on your computer and can later retrieve. The cookie cannot be read by a web site other than the one that set the cookie. We use cookies for a number of administrative purposes. They let us store information that you have already told us, so we don't have to ask you again. They also allow us to measure what parts of our site customers prefer to see, and what parts are less popular. Most cookies last only through a single session or visit. 

Information and documents provided on this web site are provided "as is" without any warranty. Prospera uses reasonable efforts to include accurate and up-to-date information on this web site; it does not, however, make any representations as to its accuracy or completeness. Your use of this web site is at your own risk. Prospera, its suppliers, and the other parties involved in creating and delivering this web site's contents are not liable for any damages arising from use of this site. 

None will contain information that will enable anyone to contact you via telephone, e-mail, or "snail mail". You can set up your web browser to inform you when cookies are set or to prevent cookies from being set. However, Online Banking uses cookies as a security measure to maintain a connection with you. If you set your browser to prevent cookies, you will not be able to access Prospera online banking services. 
 

Product Features and Rate

All product features and rates quoted throughout this site are correct at time of issuance and subject to change and/or market fluctuations. The information supplied within this site is for our customers' use only and does not constitute an offer or contract. You may contact our Member Service Centre Mon - Fri, 8am - 8pm and Saturday, 9am-4pm at 1-888-440-4480 for all final details including up to the minute features and rate information. 
 

Linked Web Sites 

Linked web sites are not under the control of Prospera and Prospera is not responsible for their content. You are responsible for viewing and complying with the privacy statements and terms of use posted at the linked web sites. Any dealings that you have with third parties using any linked web sites including the delivery of and payment for goods and services, and any other terms, conditions, representations or warranties associated with such dealings are solely between you and the third party. Prospera will not be responsible for any part of such dealings. 
 

Copyright Information 

MEMBER CARD, ACCULINK & Design are registered certification marks owned by the Credit Union Central of Canada and used under license. 
INTERAC is a registered trademark of Interac Inc. used under license. 
PLUS, PLUS SYSTEM and VISA & Design are registered trademarks of Visa International and used under license. 
TRAVELERS CHEQUES & TRAVELERS CHEQUES FOR TWO & Design are registered trademark of American Express Ltd. and used under license. 
All other marks are copyright of their owners. 

®Ethical Funds and Ethical are registered marks owned by Northwest & Ethical Investments L.P. and are used under licence. 

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Qtrade Guided Portfolios is a division of Aviso Financial Inc.

Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc.
 

Mutual Funds

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 covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer which insures deposits in credit unions.

Unless otherwise stated, cash balances, mutual funds and other securities are not insured nor guaranteed, their values change frequently, and past performance may not be repeated.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

We are committed to ensuring our online services are accessible to all users. The information below suggests how to obtain the best user experience on our website and explains what we have done to make the website accessible.

Adjust your computer's settings for a better experience 

You can improve your online experience by customizing your computer's settings to meet your individual needs. For example, you can increase the size of all fonts or change the colour scheme. 

Keep your browser updated 

We recommend you keep your browsers up to date. Newer browsers tend to provide more display options to make content accessible and may work better with assistive technologies. 

How we have made our website accessible 

We have created our website in accordance with the World Wide Web Consortium's (W3C) Web Content Accessibility Guidelines (WCAG) 2.0. These guidelines assist website developers by describing best practices for creating websites that are accessible to all users. 

Some of the ways we achieve online accessibility include: 

• Building webpages in a way that allows you to disable the CSS (Cascading Style Sheets) on your browsers or modify the text size using browser controls if the colours or fonts make content difficult to read. 

• Creating webpages that allow visually impaired users to navigate the site effectively with a screen reading aid. For example, images have text-based descriptions, title attributes tell users where a link will take them if they click on it, and structured headings provide an overview of the site that lets users jump quickly to desired sections. 

Contact us if you have trouble using our website 

If you experience difficulties in accessing any content or functionality on our website, please contact us. We are always open to making improvements to provide the best possible online experience for our users. 

What are cookies?

Cookies are small bits of information a website sends to your browser. They can be kept in the browser memory for temporary use or stored to a cookies file on your online device’s hard drive. The information cannot be used to identify you personally. Cookies do not collect personal information such as your name, address, telephone number or email address.

What are pixels?

Pixels are small images imbedded in web content like web pages and emails. Pixels generally do not collect personal information such as your name, address, telephone number or email address, but may collect Internet Protocol (IP) address information.

What do we use cookies and pixels for?

Session cookies:
We use session cookies to record the fact that you have successfully logged in to our online banking site. When you log in, you are sent a cookie that uniquely identifies your current session. When you request an action, such as to check your statement, the cookie is sent with the request allowing online banking to know who you are and verify that you are properly logged into the system. Without session cookies, we would have to demand your login information for every single online banking function you request. After you log out or remain inactive for a certain period of time, the cookie expires and becomes invalid and you must log in again before you can do anything else.

Persistent cookies:
In contrast to session cookies, persistent cookies are stored on your online device between browsing sessions until expiry or deletion. We use persistent cookies for a variety of purposes:

• Collecting website performance data: We collect statistical information on how our users use our websites for statistical and evaluation purposes to help us improve the performance of our website.
• Memorized Member Card for Prospera Online and Prospera Mobile Banking: You can select to have a cookie securely store your Prospera member card number and nickname, so that when you log in to Prospera Online or Prospera Mobile Banking, you won’t need to enter your debit card every time to login.
• Advertising: We use advertising cookies to collect browsing patterns and display advertisements that are more relevant to you and your interests. These cookies do not contain personal or financial information about you. We also use cookies to track if a Prospera ad has been clicked on or viewed.

Pixels:
In contrast to cookies, pixels are not stored on your device, because they are embedded in web content. Pixels are primarily used to track user behavior and interactions with web content. For example, a pixel may track whether you found a web page by clicking through an advertisement on a third-party website. Aggregated and anonymized data is typically transmitted directly to a server, by passing the need for local storage onto your device and allowing tracking across devices.

Does Prospera use third-party cookies or pixels?

We may use third-party providers, such as Google Analytics, to help collect and compile information about our website performance and your interactions with our web content. Our third-party providers may also use cookies to deliver advertisements that are more relevant to you and your interests and to help measure the effectiveness of an advertising campaign. We do not collect or share personal information such as your name, address, telephone number, or email address with third-parties.

Why do some users disable their cookies or pixels?

They do not want their activity on the Internet recorded and tracked. The setting that enables/disables cookies is very easy to change (see the Help menu of your browser for more details). However, not all browsers offer the ability to disable pixels (if a browser offers the feature, it will typically be labeled as “tracking” protection in the browser privacy settings). If you prefer the privacy of disabled cookies, simply enable them for your online banking session and then disable them again afterwards. Remember you will have to enable cookies each time prior to accessing Prospera’s online banking service.

Changes to Prospera's cookie and pixel policy

We may change this policy from time to time and will display the changed policy on this web page. We encourage you to visit this web page periodically to stay informed.