The start of a new year is always an exciting time for self-reflection and imagining the possibilities of what lies ahead. It’s a time of clarity after the whirlwind of activity around the holidays, a moment of thoughtfulness when we can take stock of where we are in our lives and make plans for where we would like to go. For many of us, it’s a time to consider the ways that we can improve our health and wellbeing, strengthen our relationships, and feel more comfortable and in control of our finances.

Since the beginning of 2020, Canadian households have been saving at unprecedented levels, due in large part to changes in our spending habits because of the COVID-19 pandemic. According to a report from Oxford Economics, Canadians have accumulated approximately $184 billion in excess savings. At the same time, many Canadians feel a sense of financial uncertainty. A recent poll found that 75% of Canadians are worried about their finances, with 32% citing loss of sleep because of financial concerns. According to a report released by the Financial Consumer Agency of Canada (FCAC), 33% of Canadians feel as though they are just getting by. It’s a time when many Canadians are concerned about their investments and some Canadians feel locked out of the ability to invest entirely.

The CUA team is devoted to supporting our members who want to invest in their futures. Whether you are looking to start saving for retirement, purchase a home or vehicle, set aside an emergency fund, or cross something off your bucket list, our financial advisors are here to ensure that you have the knowledge and resources to plan your financial journey and achieve your resolutions. We offer a range of investment options, from Tax-Free Savings Accounts to Registered Education Savings Plans to Guaranteed Investment Certificates. We also partner with digital investing services like Qtrade and VirtualWealth so that you can find the approach that works best for you.

Speaking of investing, I am very pleased to announce we will be launching CUA’s 2022 Community Investment Grant Program on January 11, 2022. We are proud to provide $100,000 in grants to organizations, small businesses and social enterprises that add to the health, equity, and economic vibrance of communities throughout Nova Scotia. We believe that investing in entrepreneurs, self-starters and change-makers means making a positive impact on the economic health of the Province. To learn more about our Community Investment Grant Program, email grants@cua.com.

On behalf of the entire CUA team, I’d like to wish you a happy and healthy New Year. As always, I invite you to connect with us at any point in your financial journey by calling 902.492.6500 or emailing info@cua.com.