24 - Wednesday, June 10, 1987 - North Shore News Business IMPORTS, EXPORTS Banks aid overseas transactions From page 23 be worth considering expansion in overseas markets. Trade with other countries is fundamental to Canada’s economic health. Expansion of Canadian trade abroad has been an important factor in our economic development. Canada’s chartered banks pro- vide the means by which exporters and importers can settle their transactions in situations which are frequently more complex than those faced in the Canadian mar- et. They also provide financing to exporters and importers when the timing of their cash requirements does not coincide with that of their cash receipts. Here are some of the services banks provide: - FOR EXPORTERS @ Advise on market conditions, - sales prospects as well as import and exchange regulations in Canada and abroad. © Advise'on the credit status of buyers and potertial buyers in foreign countries. ® Provide liaison between foreign financial corporations. © Handle and give guidance on commercial letters of credit. © Pay or negotiate drafts drawn | Zellers | | raises | | Fibrosis| _ funds J From page 23 - market for his new service. ‘‘At . this point in ‘time, we’re the only people doing this.’’ For more information call 922- 1359 or 274-3584. ed THE NEW corporate communica-_ tions comet currently blazing new _ trails at the North Shore Com- ‘. munity Credit Union is 39-year-old ‘marketing division manager Don Mitchell. : Mitchell joined the credit union . in late March of this year. ‘‘I guess ‘ my hiring shows a recognition by the credit union for the need to restructure the marketing division. . There was always a marketing manager here, but now it is a more senior position and will include such things as communications, public relations and advertising all under one umbrella,” he said. Before joining the credit union, Mitchell worked independently in the corporate public relations field and as a business writer, con- tributing to publications such as B.C. Business and Equity. the eae THE ZELLERS outlet at Lynn Valley Centre raised approximately $3,000 towards the $750,000 raised by Zellers stores across the country May 24 during the company’s Moonwalk ’87 event held to raise money for Cystic Fibrosis Research. For the second year, Zellers employees representing seven Lower Mainland stores, families, friends and suppliers walked around Stanley Park to make good on pledges collected to support the research. under letters of credit on foreign and Canadian banks. © Collect time and sight drafts drawn by exporters on foreign im- porters. © Advance money against drafts for collection, or against drafts drawn under letters of credit in favor of exporters. ¢ Fulfil orders of exporters in their foreign exchange transactions in the principal foreign currencies both for immediate and future delivery. e Handle foreign and transfers. ® Provide liaison between feder- al and provincial government organizations in their various assistance programs. FOR IMPORTERS © Counsel on market conditions remittances and export and exchange regula- tions abroad. ® Prepare reports on the reliability and credit standing cf sellers abroad. * Open commercial letters of credit to finance the import of goods and commodities. © Sell foreign exchange neces- sary for payment of goods. ® Finance importers’ costs for goods between the time of pay- ment and delivery and subsequent expenses for storage, processing, sale and collection of accounts re- ceivable. (For further information, write for a free copy of “‘Importing & Exporting’’, The Canadian Bankers’ Association, P.O. Box 348, 2 First Canadian Place, Toronto, Ontario. MSX 1E1.) The VanCity FBill Savings Account. Convenience and flexibility. When you deposit $10,000 or more ina VanCity T-Bill Savings Account, you get all the flexibility ofa een savings account, but with a much hi er rate of interest. That’s because VanCity bases the interest on higher yield treasury bills and offers you a better rate. The highest interest on the market. On balances of $10,000 or more, we'll pay you the highest daily interest of any comparable account on the market, and on balances between $5,000 and $10,000, we'll pay our Plan 24 rates* “Rate set every Friday based on competitive market survey of Canada’s major banks and trust companies. VANCOUVER: 1030 West Broadway 736-9166 2106 West Broadway 736-3761 3395 West Broadway 736-7451 2380 West 41st Avenue 261-5152 6330 Fraser Street 327-9461 1675 Commercial 251-1721 8289 Granville Street 261-2266 TeleService: A convenient phone-in service from 8 a.m. to 8 p.m. Monday to Friday and 8 a.m. to 4 p.m. Saturday 877-7000 2510 East Hastings 255-4381 3305 Kingsway 430-3171 4205 Main Street 879-5316 898 West Pender Street 685-6521 519 West 10th Avenue 873-3961 4519 West 10th Avenue 224-1631 5590 Victoria Drive 327-8301 What's more, our T-Bill Savings Account is structured to give you the added conveni- ence of Exchange Machine access, All-In-One monthly statements, and a personalized passbook. Convenience, flexibility and a higher rate. of interest. It all adds up to VanCity’s T-Bill Savings Account. Ask about it at your local VanCity branch. ith us. + YoubelOnd" mi WEST VANCOUVER: 1548 Marine Drive 926-4311 NORTH VANCOUVER: 1290 Marine Drive 984-0628 COQUITLAM: 2991 Lougheed Hwy. 464-8866 VANECITS BURNABY: 4302 Hastings 294-0211 3977 North Road 421-1414 5064 Kingsway 430-5544 DELTA: 7211-120th Street 594-6400 vC-3004