The 2 minute RRSP Loan Application
Registered Plans
We offer access to a wealth of registered savings plans and investment options
Tax Free Savings Accounts
- Enables taxpayers to earn investment income, tax free within the account
- Contributions are not tax deductible; withdrawals and earnings are not taxable
- Participants must be Canadian residents, 18 years of age or older with a valid Social Insurance Number
- Current maximum contribution limit is $5,000 per year
- Canada Revenue Agency will determine the contribution room for each eligible individual who files an annual tax return and the amount will be listed on an individual’s CRA Notice of Assessment
- Our tax free savings accounts are administered by Concentra Trust
Investment Options
- Variable rate savings account - interest is calculated on the minimum daily balance and paid quarterly
- Term certificates ranging from 1 to 5 years also offered
- Mutual Funds*
Tax Free Savings Accounts are insured up to the full amount. For further information on deposit insurance coverage, please ask for a brochure at the credit union, call DICO at 1.800.268.6653 or visit their website at www.dico.com.
Registered Retirement Savings Plans
- Tax deferred, tax sheltered savings plan used primarily to save for retirement
- Funds may be used under certain conditions to purchase a home and to continue life long learning initiatives
- Variety of deposit options available including payroll deduction and direct deposit
- Our registered funds are administered by Concentra Trust
Investment Options
- Variable rate savings account - interest is calculated on the minimum daily balance and paid quarterly
- Term certificates ranging from 1 to 5 years also offered
- Mutual Funds*
RRSPs are insured up to the full amount of the RRSP. For further information on deposit insurance coverage, please ask for a brochure at the credit union, call DICO at 1.800.268.6653 or visit their website at www.dico.com.
Registered Retirement Income Funds
- Enables continuing but controlled tax deferral of RRSP funds
- Attractive alternative to annuity purchase as payments are more flexible and payments in the plan increase each year
- Our registered funds are administered by Concentra Trust
Investment Options
- Variable rate savings account - interest is calculated on the minimum daily balance and paid quarterly
- Term certificates ranging from 1 to 5 years also offered
- Mutual Funds*
RRIFs are insured up to the full amount of the RRIF. For further information on deposit insurance coverage, please ask for a brochure at the credit union, call DICO at 1.800.268.6653 or visit their website at www.dico.com.
Registered Education Savings Plans
- Tax sheltered savings plan that lets you save for a child's post secondary education
- No annual contribution limits
- A lifetime maximum contribution of $50,000 per child
- A grant of 20% of the contributed amount to a maximum of $500 per year for each child registered under this program is paid by the Federal Government
- There is a lifetime maximum grant of $7,200 per child
- May be transferred to another recipient if intended beneficiary chooses not to pursue post-secondary education
- Click here for more about education plans
Financial Planning
Financial Planning is the process of meeting your life goals through the proper management of your finances and assets. We have the staff and knowledge to help you with your Financial Planning today. Contact our London Road location at 519.542.9059 to set up your free consultation.
* 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 stated, mutual fund securities and cash balances are not covered by the 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.
® Credential Direct is a registered mark owned by Credential Financial Inc. and is used under licence. |
