RRSPs | INVEST | The Credit Union

	Click here for current RSP deposit rates

We C.U. for RSP Saving Plans.

What is an RSP?

A Registered Retirement Savings Plan (RSP) is a government approved plan that allows you to save money for the retirement lifestyle you want. Depositing to an RSP can also help you reduce the taxes you pay now and allows you to accumulate more because income compounds tax-free while it’s in the plan.

Contributions to RSPs, up to your allowable contribution limit, are tax-deductible. Income earned within an RSP accumulates tax-free as long as the funds remain in the plan. Invest up to the RSP deduction limit shown on your RSP statement from CRA (Canada Revenue Agency formerly Revenue Canada). Deposits are insured regardless of the amount in your account per contract by the Deposit Insurance Corporation of Ontario, an agency of the Government of Ontario.

For more specific details about RSPs visit Canada Revenue Agency's helpful website at
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/RRSP-reer/cntrbtng/menu-eng.html.

The Credit Union offers all the RSP options you'd expect from a major financial institution as well as some added advantages including complimentary Financial Planning from a professional who understands your work environment.

Plus, The Credit Union offers one of the fastest and simplest ways to make this year's RSP contribution.
You'll find the Two Minute RSP Savings Application and the Two Minute RSP Loan Application here or in-branch.
Just fill it in, then send it back. You'll receive telephone confirmation upon receipt.

You might also want to consider the RSP pre-authorized credit plan (PAC) from The Credit Union. It’s an automatic savings plan that allows you to contribute as much or as little as you choose. It’s easy to set up because The Credit Union takes care of everything for you so you don’t have to worry. Funds are deducted automatically from your account and the sooner you contribute, the sooner your RSP can start earning tax sheltered income. You can make monthly, bi-weekly, or weekly installments throughout the year. You decide! And you can make regular contributions of as little as $25 per pay.

Choose the right RSP investment for you

If you would like more information about RSP products from The Credit Union, simply make an appointment with your Personal Account Manager or one of our Certified Financial Planners.

Savings

With a variable rate savings, you'll begin earning interest as soon as you make a deposit. Interest is calculated on your daily closing balance. Interest is paid semi-annually on June 30th and December 31st. There is no minimum monthly balance requirement and you will receive quarterly statements of all transactions (with the exception of Internet Home Banking users). Your savings will only go up and are protected by Deposit Insurance Corporation of Ontario (DICO).

Term Deposit

The Credit Union offers a variety of Term Deposits with a guaranteed return and competitive rates. They earn higher interest than a regular savings investment. Terms are available in convenient increments of 1 to 5 years. They have a guaranteed return and are protected by the Deposit Insurance Corporation of Ontario (DICO). The Credit Union’s posted rates are often higher than most major financial institutions and interest is paid at maturity.

Laddered Term Deposits – Convenient, Safe and Flexible

With Laddered Term Deposits, you can reduce your risk and maximize your return. Your initial investment is simply divided into 5 equal portions and invested in 1, 2, 3, 4 and 5 year terms. Each year, one of the terms matures and is automatically used to purchase a new 5 year term deposit allowing the cycle of investment to continue. If rates fall, a larger portion of your portfolio may benefit from the original higher rates that were in place when you made your initial investment. So now you don’t need to worry about chasing high rates or waiting out the low ones. Click here for more details.

Mutual Funds

The Credit Union and WorldSource Financial Management Inc have partnered to provide you with access to over 2,700 different funds from over 50 recognized mutual fund companies. A Financial Advisor from The Credit Union can get you started by explaining all of your options, creating a customized portfolio that you're comfortable with and answering any questions you may have. If you already have an investment portfolio, The Credit Union will review your current portfolio statements with you, do a comparison on what you've got and what you could have and make suggestions about how you can improve the overall performance of your investments.

Disclaimer: Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed and are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Fund values change frequently and past performance may not be repeated. Worldsource Financial Management Inc., sponsoring mutual fund dealer. Additional products and services provided through Ontario Civil Service Credit Union Ltd.

All information provided is believed to be accurate and reliable, however, we cannot guarantee its accuracy. Worldsource Financial Management Inc. will not be held liable for any inaccuracies in the information presented, nor will they be held liable for any software damages resulting from the use of this website. Mutual funds are offered in Canada only.