Coast Capital nets marketing award

"You're the Boss" mortgage is subject of honour

Coast Capital Savings has been recognized with a Marketing Excellence Award (AIME) by the Marketing Association for Credit Unions (MACU) for their recently launched You’re the Boss Mortgage.

AIME recognizes the best and brightest achievements in credit union marketing. Awards are given for the most impressive, effective, and creative marketing and communications materials and campaigns in the credit union industry.

Coast Capital’s new mortgage product is one of the most flexible products available to home buyers in the Country. It offers greater flexibility and control to customers, including the nation’s highest prepayment limit, easy access to funds when needed and a new rate option that captures the best features of fixed and variable rates.

The award recognizes the marketing activities undertaken by Coast Capital to launch the product. “An innovative product deserves innovative marketing solutions to get the word out,” explains Lawrie Ferguson, Chief Marketing and Public Relations Officer, Coast Capital Savings. “Our team really put their best work forward with everything from the television advertising to the social media activities to the internal promotion and the PR stunt that we activated. We have a phenomenal team of marketers here at Coast Capital and they deserve this national recognition.”

The You’re the Boss Mortgage has three key features that address consumers’ desire to get the best rate possible, save for emergencies while still paying their mortgage down as quickly as they can.

“Our research revealed that customers feel their financial lives are being controlled by their long-term mortgage debt and they are highly motivated to get out of this debt,” said Ferguson. “But financial institutions don’t make it easy for them to eliminate their debt, while managing their ongoing financial needs, so our new mortgage product includes flexible payment and withdrawal features designed to place control back in the hands of customers.”

The “Save and Take” Payments feature allows customers to pay off their mortgages faster without penalty by making unscheduled prepayments of any amount at any time, up to 30 per cent of the principal of the mortgage annually. No other financial institution in Canada offers this level of prepayment privilege. This is in addition to allowing customers to make scheduled extra payments, up to double of their required payments. The new product also allows customers to skip a monthly payment or equivalent (two bi-weekly or four weekly payments) once a year, with no questions asked.

Coast Capital has also introduced innovation and flexibility in the area of rates with their new mortgage offering. The product’s Half & Half Rate is priced at the mid-point between the current variable and fixed rates. It will start lower than a fixed rate and won’t rise or fall as fast as a regular variable rate, changing only by half as much as the prime rate.

The credit union currently offers some of the lowest rates available with a  5-Year Variable Rate at 2.10%, 5-Year Fixed at 3.65% and the 5-Year Half & Half rate was at 2.85% (only available with the You’re the Boss Mortgage) at press time.

Coast Capital also won AIME Awards for their United Way workplace campaign in the category of Winning Results – Special events and took home top honours with Best in Show for their impressive overall results in this year’s competition.


Coast Capital Savings Credit Union is one of Canada’s largest credit unions with total assets under administration of $12.3 billion, more than 454,000 members and 50 branches in the Metro Vancouver, Fraser Valley, and Vancouver Island regions of British Columbia. Product innovations include Canada’s first free chequing account from a full-service financial institution and the country’s most flexible mortgage product, the You’re the Boss Mortgage, which was named 2010 Mortgage of the Year by Coast Capital is a member of Canada’s Best Managed Companies Platinum Club and an Imagine Canada Caring Company. To learn more, visit



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