RRSPs, RRIFs + RESPs

Registered Retirement Savings Plans (RRSPs)

RRSPs offer the best way for Canadians to save for retirement. Not only do you get the benefit of a tax deduction for the amount contributed, but your money grows tax free as long as it stays in the RRSP. Furthermore, if you wait until you retire to start making withdrawals from these funds, you may enjoy the benefit of a lower tax rate than when you are working.

• variable deposit products and fixed-rate terms, 1 - 5 years
• fixed-rate minimum deposit $500, non-redeemable
• no minimum deposit on variable rate; redeemable on demand
• automatic monthly contribution arrangements to variable plan from any other credit union account
• no set-up or administration fees*
• instant tax receipts, first 60 days of the year
• Ethical Funds®, offered through Credential Asset Management Inc., are RRSP eligible
• Class “A” Equity Shares are RRSP eligible
• Accumulator Term Deposit is RRSP eligible

Registered Retirement Income Funds (RRIFs)

A RRIF can help you live comfortably once you have retired.

• variable and fixed-rate terms, 1 - 5 years
• fixed-rate minimum deposit $500, non-redeemable
• no set-up or administration fees*
• payments available monthly, quarterly, semi-annually or annually
• member decides on investment options
• funds may be withdrawn from variable at any time

Registered Education Savings Plans (RESPs)

A government-approved plan for the purpose of providing post-secondary education funding for a beneficiary.

• income earned within the plan is not taxed until withdrawn and in hands of beneficiary
• variable savings products and fixed-rate terms, 1 - 5 years
• fixed-rate minimum deposit $100, non-redeemable
• automatic monthly contributions to variable plan arranged from any credit union account
• no set-up or administration fees*
• Ethical Funds®, offered through Credential Asset Management Inc., are RESP eligible

*except when the RRSP, RESP or RRIF is transferred to another financial institution

Knowing Your Retirement Options (241KB, pdf format)
Understanding All The Basics (317KB, pdf format)

+Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise dated, mutual fund securities and cash balances are not covered by Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

®Ethical Funds is a registered mark of Northwest & Ethical Investments L.P. and is used under licence.

®Credential is a registered mark of Credential Financial Inc. and is used under licence.