Banking & Funding

CUSA currently partners with Carleton University’s Scotiabank, located on the 1st floor of Paterson Hall. All CUSA Student Groups (apart from autonomous clubs) are able to open and operate a bank account from Scotiabank.

Services provided:

• Club Business Account
• Withdrawal limit of $300.00 per day
• Debit Card
• Online banking
• E-Transfers
• Change Signing authority to new Club Leaders
• Temporary Change of Withdrawal Limit

There are costs associated with these accounts. It is approximately $3.95 per month for the business account and $1.00 for 1 e-transfer. CUSA is working hard to make these fees less of a burden. Clubs can request to have these fees compensated in their Fall – Winter, and Summer Funding Applications.

If your club is going through a dissolution, please reach out to clubs@cusaonline.ca. Funds that were gained through CUSA Clubs Funding will return to the CUSA Clubs Office so it can be issued to other clubs. All other funds will be distributed based on the information listed in the Club Constitution.

Uncertified clubs are not permitted to have a CUSA Clubs bank account. Bank accounts will be closed if clubs do not apply to be recertified in June-August.

Only certified CUSA Clubs are permitted to access and operate a club bank account.

1. Fill out a Bank Letter Request Form. This letter is required by Scotiabank to demonstrate that you are a certified CUSA Club.
2. After the “Bank Letter Request Form” is submitted, the Student Groups Administrator will create a Bank Letter for your group. The two signing authorities listed will be emailed the letter via the emails provided on the form.
3. After receiving the bank letter. You will email: Yousef Abu Issa at yousef.abuissa@scotiabank.com and Peymun Payroveolia at peymun.payroveolia@scotiabank.com to set-up an in-person meeting at Scotia Bank on-campus.
4. At the in-person meeting at Scotia Bank, you will need to bring ID, your student card, and your bank letter.
5. Scotiabank will help you open a bank account.

Only certified CUSA Clubs are permitted to access and operate a club bank account. Two signing authorities are required to be on every club bank account.

1. Fill out a Bank Letter Request Form. This letter is required by Scotiabank to demonstrate that you are a certified CUSA Club.
2. After the “Bank Letter Request Form” is submitted, the Student Groups Administrator will create a Bank Letter for your group. The two signing authorities listed will be emailed the letter via the emails provided on the form.
3. After receiving the bank letter, you will email: Yousef Abu Issa at yousef.abuissa@scotiabank.com and Peymun Payroveolia at peymun.payroveolia@scotiabank.com to set-up an in-person meeting at Scotia Bank on-campus.
4. At the in-person meeting at Scotia Bank, you will need to bring ID, your student card, and your bank letter.
5. Scotiabank will help you change signing authorities.

Frequently asked questions:

• Do I need to make an appointment to change signing authorities?
  • Yes! This is not something that you can do at the Scotiabank front counter. You will have to make an appointment with Yousef Abu Issa at yousef.abuissa@scotiabank.com or Peymun Payroveolia at peymun.payroveolia@scotiabank.com
• Do the past signing authorities need to attend this appointment? 
  • No! Only the new signing authorities are required to be present at the meeting with Scotiabank.
• If I was a signing authority last year, do I still need to fill out the bank letter request form? 
  • Yes! Fill out the bank letter request form with both signing authorities’ information and you will also need to attend the Scotiabank appointment.

Only certified CUSA Clubs are permitted to access and operate a club bank account. Two signing authorities are required to be on every club bank account.

1. Fill out a Bank Letter Request Form. Ensure you include the new limit amount on the final question.
2. After the “Bank Letter Request Form” is submitted, the Student Groups Administrator will create a Bank Letter for your group. The two signing authorities listed will be emailed the letter via the emails provided on the form.
3. After receiving the bank letter, you will email: Yousef Abu Issa at yousef.abuissa@scotiabank.com and Peymun Payroveolia at peymun.payroveolia@scotiabank.com to set-up an in-person meeting at Scotia Bank on-campus.
4. At the in-person meeting at Scotia Bank, you will need to bring ID, your student card, and your bank letter. Both signing authorities are require to attend this meeting.
5. Scotiabank will help you change the variable withdrawal limit

All CUSA Clubs, apart from autonomous groups, are permitted to apply for funding. CUSA Clubs are eligible to apply for up to $2700.00 in one calendar year. This amount is broken down to:

• Fall & Winter Funding: $2200.00
• Summer Funding: $500.00

1. Find the Funding Application Form
   1. The Winter Funding Application is available here. 
2. Submit the Funding Application
3. The Clubs Oversight Commission will review your application and will determine the amount of funds your group is eligible for
4. The Student Groups Administrator will notify your group of the amount of funds granted and when the cheque is ready for pick-up.
5.  If your group encounters any issues receiving funding, please reach out within 14 days of being notified by the Student Groups Administrator at clubs@cusaonline.ca.

Fall – Winter Funding:

• Application opens on June 30th, 2023.
• Application closes on September 30th 2023.
• Application will re-open on December 1st, 2023.
• Application will close on January 12th, 2024.

Summer Funding:

• More information will be provided in Winter 2024.

• Summer VP Finance Video
• Funding Training Video

Click here for the Fall-Winter: Funding Application Budget Breakdown

At the end of the semester, clubs will be expected to submit their year-end finances. The form is available here. This Year-End Finances should capture all expenses in and out of the club bank account. The Year-End Finances are due May 15th, 2024.

• Ledger Template to use throughout the year