Frequently Asked Questions 2

Please review this page before sending a question to Student Group Services as we may have already answered your question! Thank you!

Last Updated: November 1st, 2021

Can we use the UMSU Office as an address for any mail, packages, banking, or anything?

No, many clubs in the past have done this without our expressed permission and caused a lot of logistical issues because our current systems were not designed with this in mind. It would be best to use your personal addresses instead of the UMSU Office for this, we would appreciate this a lot.

 

If you really need to use our UMSU Office address for whatever reason, please reach out to us via email first then we will assess the situation.

How does COVID-19 effect us?

Please refer to the COVID-19 Portal.

A grace period has also been given to clubs renewing. More information here.

Can we use the UMSU Office as an address for any mail, packages, banking, or anything?

No, many clubs in the past have done this without our expressed permission and caused a lot of logistical issues because our current systems were not designed with this in mind. It would be best to use your personal addresses instead of the UMSU Office for this, we would appreciate this a lot.

 

If you really need to use our UMSU Office address for whatever reason, please reach out to us via email first then we will assess the situation.

What is the current status of in-person events?

Please refer to the COVID-19 Portal.

Can we use the UMSU Office as an address for any mail, packages, banking, or anything?

No, many clubs in the past have done this without our expressed permission and caused a lot of logistical issues because our current systems were not designed with this in mind. It would be best to use your personal addresses instead of the UMSU Office for this, we would appreciate this a lot.

 

If you really need to use our UMSU Office address for whatever reason, please reach out to us via email first then we will assess the situation.

What are the best bank accounts for clubs?

The choice of institution is up to your discretion – banking, credit unions, etc. We recommend an institution close to the University for easier access for everyone by distance. Understanding how you will be using the bank account can let you determine which account best fits your needs.

 

Be sure to look into opening COMMUNITY ACCOUNTS or the variation of the like.

 

Regular Chequing accounts can cost ($5 – $7 per month) while a Community Chequeing account can cost ($0 – $2.5 per month). It depends on the institution’s rates but community accounts are generally reserved for non-profit groups that aim to build a community which is what student clubs do!

How do I open up a Bank Account? (New and Existing Clubs)

Step 1: Research financial institutions – banks, credit unions, etc. –  your criteria should be distance from the University, monthly rate, and how much you will be using this account in terms of transactions. Understanding how you will be using the bank account can let you determine which account best fits your needs. Ensure you are picking COMMUNITY ACCOUNT options to get the lowest monthly fee as well as additional perks for being a student club / non-profit.

 

Step 2: Pick your choice of financial institution.

 

Step 3: Request for a Letter of Direction from Student Group Services.

 

Step 4: Once you have received the letter, book an appointment with this financial institution and print the letter. Then get the signing authority (authorized users) signatures for the bank account.

 

Step 5: Meet with the banker at the financial institution providing the letter and the banker will set you up.

What financial institution do you suggest for opening Bank Accounts?

As of late 2020, we suggest the Cambrian Credit Union on 60 Bison Dr, Winnipeg, MB R3T 4Z7. This is because they do not usually have service charges and have worked with UMSU Clubs and Associations in the past.

How do I transfer a pre-existing bank account from an old executive team to a new executive team?

A signing authority are the authorized users for a bank account. Usually, these signing authorities are the President and Finance executives of the club.

 

To transfer signing authorities aka authorized users for the bank account, you must coordinate the schedules between – the banker of the institution, the old signing authorities (old execs), and the new signing authorities (new execs). Once you are able to coordinate a meeting place, day, and time; you will be required to bring a bank transfer letter for account documentation and authorization of transfer of accounts.

 

You can find a template of this letter at the club executive portal documents here.

 

After you have made the letter with the relevant information and signatures of the old signing authorities and new signing authorities. Bring this letter to the financial institution’s banker when you are at the appointment.

 

At the appointment, the banker should be removing the old signing authorities and adding the new signing authorities. Ensure you are very clear that you are removing people from the account and adding new people to the account.

 

Once the people have been signed on, the banker should be able to give you the basic information about the account and its terms and conditions.

Can I transfer my bank account's branch location to another location?

It depends on the financial institution’s policy but this should be available to institutions. This process can take a few days or weeks to transfer over the accounts from one branch to another.

 

Doing this option is very convenient if you would like to move branch locations for whatever needs you have.

Where do I apply for Club Funding?

You can find the forms at the Club Executive Portal in the UMSU Support Services Section.

I made a mistake on my Club Funding appplication, how do I fix it?

Please inform us via email and we will discard that application. You can then resubmit a new one with the proper information.

When a Club Funding application is approved, how are the funds transferred?

As of Fall 2021, the current methodology of transferring funds from UMSU are writing cheques towards recognized clubs.

These cheques are written out to Student Clubs by name and not to any specific individual or executive of the club.

Can I get the cheques written out to an individual?

UMSU policy does not allow cheques to be written out to any specific individuals. Cheques will only be written out to club’s by name, not any specific individual.

When should I deposit the cheques?

Ideally, as soon as you get the cheque because it confirms to us that your club has received the funds.

 

The final deadline is the last day of April of the academic year. Afterwards, these cheques will be cancelled and you will not be refunded the amounts. Do not procrastinate on cashing the cheque please.

How many rounds of funding are there?

There are multiple rounds throughout the academic year! You can apply for funding between the first day it is open to clubs until the middle of April!

 

The Member Services Committee typically meets every 2 weeks and community representatives hold Community Assemblies once a month. Therefore, the expected response time for your application is 3-4 weeks.

 

Funding Cycle dates are released to clubs once the dates are known.