F.A.Q. Of the 3M Employees' (London) Credit Union Ltd. Q. Can members of my family join this Credit Union? A. No, our charter will only allow 3M employees living and working within the Ontario mailing area to join this Credit Union. Q. What is the advantage of belonging to the Credit Union at 3M? A. We offer automatic payroll deduction for your savings and/or loans, we also offer r.r.s.p loans and other special loans at Prime rates (O.A.C), we make available other applications and programs. Q. What should I do in order to become a member? A. Visit our office located near the 3M company store and fill out an application with our office manager. (Please Note the Office Hours on this Web Site.) Q. Does it cost money to become a member? A. The credit union requires that you deposit a minimum amount of shares in your new account; these shares remain yours and are kept in your savings account until you decide to terminate your membership.(Shares required 50 = $50)

Q. Do I have to attend meetings?
A. You are encouraged to attend the annual meeting in January to become involved
with the organization and to have a vote and a voice in the everyday operation of
your credit union. Meetings are not mandatory to our members.

Q. How do I know that others cannot access my account on the C.U. Web-Site?
A. We've secured our Web-Site similar to other financial institutions.
We'll provide username and password + you'll provide your own password

Q. Are my savings insured, if so for how much?
A. Your savings are insured for up to $100,000. by Deposit Insurance Corporation of
Ontario.

Q. Can I do an electronic withdrawal from my shares in the credit union?
A. No, but you can fax a signed share withdrawal to the C.U. office and expect the
cheque within a 24 hour period. (Generally same day service.)

Q. What are the interest rates for loans at this Credit Union?
A. The Credit Union offers competitive rates both prime and general, pending
your loan requirements.
(See our Info Page for up-to-date Interest Rates charged)

Q. What is required to borrow money?
A. You must be a member of the C.U.for 30 days or more. O.A.C. you may obtain a unsecured loan of $10,000. When over $10,000. collateral to the loan is required.( Maximum loan $28,000. o.a.c.)

Q. Are co-signers required on loans?
A Co-signers are required if you are unable to meet the criteria of the loan requirements and the board of directors deem it necessary to secure the loan.

Q. How long does it take to get a loan approved?
A. If the application is submitted on Monday or Tuesday it is reviewed by the loan committee generally the same day as written and a cheque could be issued the same day. O.A.C.

Q. What are the amortization periods for loans and are they open loans?
A. Loans can be amortized from 6 months to 60 months. All loans are open and life insured.