For many Canadians, mortgage and rent payments are among their largest expenses; juggled alongside other financial commitments. With that in mind, we allowed our members to win $36,000 to put towards their housing costs, the equivalent of the average in BC, when they booked an appointment with one of our expert Coast Capital advisors before June 28.
By August, we drew our winners: software engineers Sumathi and Raja of Victoria, BC. Since moving to Canada five years ago, Sumathi says she’s had experience with a few banks before eventually choosing Coast Capital. When she made their initial appointment, it was to combine her account with her husband Raja, followed by a second appointment to discuss mutual funds and other investments with an advisor Tarun Bathla at our Colwood branch.
“I’ve had a very strong, positive opinion of Coast Capital from the beginning,” Sumathi explained. “My savings spot will always be Coast Capital. So, I just wanted Raja to be part of the membership and eventually make more investments to buy our first home.”
These appointments gave the couple insight into how to make investments like mutual funds, GICs, RRSPs, and RESPs work for them and their short-term and long-term financial goals. That included how to manage their prize money. While some of the funds will go into savings, they’ll use some towards a car and gifts for their parents in India. “We had some ideas on how to invest this money, so put a little bit in a TFSA,” Raja said. Eventually, Sumathi’s dream is for the couple to be able to purchase a home with a garden—something she’s confident Coast Capital can help her work towards.
If you’d like to book an appointment with one of our advisors visit our website.
Coast Capital Savings Federal Credit Union provides advice and services related to deposit, loan, and mortgage products. Coast Capital Wealth Management Ltd provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and services related to segregated funds, annuities, and life insurance products. Worldsource Financial Management Inc. provides advice and services about mutual funds.
