REGISTERED RETIREMENT SAVINGS PLAN (RRSP)

Shaunavon Credit Union offers a variety of options for investing your RRSP. As with all deposits at the Credit Union there is a full guarantee of all deposits through the Deposit Guarantee Corporation.

A Registered Retirement Savings plan is a government approved plan that allows you to save money for your retirement. During your peak earning years you can invest to build your retirement fund while saving money on your taxes. Interest earned on these savings is not taxable until the funds are withdrawn. Any interest earned is compounded and the growth of an RRSP increases rapidly over the years.

Anyone who has "earned income" subject to Canadian taxation, including non-residents, may contribute to an RRSP. You can also make a part of or all of your contribution to a plan in your spouse's name. You as the contributor still benefit from the tax deduction. Limits to RRSP contributions are based on "earned income" of the previous year. You can also carry forward any unused portions. This information is on your Room Statement from Revenue Canada or you can obtain it by phoning 1-800-667-7167 and providing them with your Social Insurance Number.

RRSP Options

18 Month Plan

Shaunavon Credit Union offers an 18 month non-redeemable RRSP at the 2 year interest rate. This plan allows you to stagger maturity dates to maximize interest rate returns. Minimum investment is $500.00, interest paid at the 6 month, 12 month and at maturity dates and it renews automatically for a one year term if the member does not state otherwise.

13 Month Super Rate RRSP

Shaunavon Credit Union offers a 13 month non-redeemable RRSP. The rate is higher than the 1 year non-redeemable. This plan allows you to stagger maturity dates to maximize interest rate returns. Minimum investment is $500.00, interest paid at the 6 month and at maturity date and it renews automatically for a one year term if the member does not state otherwise.

RRSP Variable Plan

RRSP Variable plan ensures that your investment keeps pace with current interest rate trends. Interest rates are reviewed and adjusted regularly, giving you very competitive rates on your investment. This savings plan allows you to make deposits as often as you like. This product is redeemable and accessable to you at any time. Take advantage of deferred tax savings and enjoy the flexibility of transferring a minimum of $500.00 to a fixed plan at anytime.

Bonus Builder RRSP

The Bonus Builder offers rates that increase each year, and are guaranteed at the time of purchase. This is a 5-year RRSP which is redeemable annually on the anniversary date.

Fixed Rate RRSP Products

These products offer flexibilty in terms (from 1-5 years) at competitive rates. The Fixed Rate RRSPs are non-redeemable. This unique RRSP products pays interest semi-annually.

Special Redeemable RRSP

Shaunavon Credit Union offers a 5-year redeemable RRSP. This product is redeembale after 30 days without interest penalty.

REGISTERED RETIREMENT OPTIONS

Shaunavon Credit Union can help you designate a beneficiary for your RRSP funds at anytime. RRSP loans are also available. Come in, call or email one of our Member Service Representatives at Shaunavon Credit Union and let us help you start building your future now., Email @ contactus@myscu.ca

Or you can call and speak with one of our friendly staff at (306) 297-2635 or toll free at 1-800-667-0068