Investments

Unity Credit Union Limited offers a wide range of investment options to meet our members needs. You get a competitive rate of return, as well as peace of mind in knowing that your investments are guaranteed. 

Need investment advice? Let our professional Financial Advisors help you make the most of your investments. Call (306) 228-2688 or email info@unity.cu.sk.ca to set up your free, no-obligation appointment.

• Terms (redeemable & non-redeemable)
• Bonus Builder Term Deposit
• Index-Linked Deposits
• Registered Retirement Savings Plan (RRSP)
• Registered Retirement Income Fund (RRIF)
• Registered Education Savings Plan (RESP)
• Special Investment Options
• Tax Free Savings Account (TFSA)

Check out our Wealth Management section for even more investment and Financial Planning information.

Terms (redeemable, non-redeemable)

Short/Long Term Redeemable Deposits

• Minimum deposit $100.00
• Short terms offered 30 to 364 days
• Long term offered 1 to 5 years
• Competitive interest rates
• Redeemable at anytime (early penalty applies)

Bonus Builder® Deposit (available at specific times of the year)

• 5-year non-redeemable deposit with a tiered interest rate.
• RRSP and RRIF eligible

Index-Linked Deposits (available at specific times of the year)

• Principal guaranteed
• Unlimited return potential
• Low minimum investment
• Non-redeemable
• RRSP eligible
• No fees

Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan is designed to help you save effectively for a financially secure retirement.  Contributions to a RRSP, within limits, are tax deductible and the income earned is tax sheltered.  An RRSP can be started as long as you have earned income but must be collapsed by December 31 of the year you turn 69.

RRSP Options:

Variable RRSP

• $25.00 minimum deposit
• No service fees.
• Competitive interest rates offered
• Interest compounded and paid monthly
• Redeemable - you can contribute and withdraw at any time
• Interest is calculated on a daily closing balance
• Deposits have an unlimited guarantee
• Rate subject to change without notice

Fixed RRSP

• $100.00 minimum deposit
• Non-redeemable until maturity
• Rates are locked in for the length of the term
• Interest compounded annually or upon expiry to the RRSP deposit at anniversary date
• Compounding - with regular contributions the amount of money in your plan will increase significantly over time.

Registered Retirement Income Fund (RRIF)

By December 31 of the year you turn 71, you are required by the Government to convert your RRSPs into a RRIF or some type of retirement fund.

RRIF Benefits:

• Competitive interest rates - variable or fixed.
• Earns money from investments, tax sheltered.
• The most flexible retirement income option available.
• Can be customized to meet your goals and budget requirements.
• Payments can be changed as your needs change.

Unity Credit Union can also provide information about other retirement income options.  Our professional Financial Advisors would be happy to discuss these options with you to find the plan that works best for you.  Phone (306) 228-2688 to make an appointment or email your questions to info@unity.cu.sk.ca

Registered Education Savings Plan (RESP)

Investing in a Registered Education Savings Plan is a smart way to save for your family's future education goals.  A RESP is a government-approved plan for the purpose of providing post-secondary education funding for your child or beneficiary.  Income earned within the plan is not taxed until it is withdrawn.

Plus, by saving now you can benefit from the Canada Education Savings Grant (CESG).  The government will contribute grant money towards an RESP for children to the end of the year a child attains age 17 (some restrictions apply for RESP beneficiaries age 16 and 17).  That provides an instant bonus on your investment.

For more information on RESPs, talk to one of our professional Financial Advisors. Call (306) 228-2688 to set up your free, no-obligation appointment today!

Special Investment Options Unity Credit Union offers a variety of special investment options throughout the year; contact the branch for more details.

Tax Free Savings Account (TFSA)
Looking for an easy way to make the most of your hard earned money? If so, our Tax Free Savings Account (TFSA) might be what you’re looking for. It’s easy to open, and you won’t pay any tax on the interest you earn.

Features

• Earn interest daily; paid monthly
• $5,000 is the maximum annual contribution for everyone beginning in 2009. This will be increased periodically to keep pace with inflation.
• No minimum starting balance
• No service fees
• Unused contribution room is added to future years
• Must be 18 or older and have a SIN number

Benefits

• Can be used to save for anything: an emergency fund, education, a vehicle, home, vacation, even retirement. The choice is yours!
• Investments grow tax-free
• Penalty free access to your money
• The option to set up regular payments into the account
• No requirement to convert or withdraw money at age 71
• You can contribute to a spouse’s TFSA without affecting your own limit
• Money can transfer tax-free to a spouse upon death.
• All TFSA deposits are fully guaranteed

Is a TFSA right for you?

Regardless of what life stage you are in, contributing to a TFSA can be beneficial.

What is the difference between a TFSA and an RRSP?

While both plans are intended to help you save money and minimize taxes, TFSAs and RRSPs have different features and benefits as outlined below:

Everyone's situation is unique.
Talk to a financial professional to determine what works best for you!

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