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Investing

Where you need us to be, now and into your future

We want to set you up for financial success with guaranteed investments that are flexible and provide high returns. That’s why we provide access to a wide range of investment products to help you live the life you want now and get the security you need later.

With every Access Credit Union investment you get:
At Access, we recognize that each member has different financial needs, so we ask the right questions to find the solution that will help you reach your goals.

Make those goals a reality with comprehensive registered investments, term deposits, and more.

Looking for assistance with investment strategies and wealth management?
Learn about our Wealth Management service offering.
We are proud to provide access to a variety of sound and secure investment products and services for our members:

Registered Investment Plans
Save for the life you deserve, for a child's future education, or pay yourself in retirement while continuing to earn high interest.

Registered term interest calculated daily, paid annually on anniversary date. Variable interest calculated daily, paid semi-annually.

Term Deposit Plans
Choose the term best suited to reach your investment goals as a safe, secure, and guaranteed way to invest your money.
  • Minimum Deposits: $1,000
  • Terms: 1-5 Years
  • Interest Calculated: Daily
  • Interest Paid: Annually on anniversary

RRSP Contribution Limits*
The RRSP contribution room for 2023 is $30,780.
The RRSP contribution room for 2024 is $31,560

TFSA Contribution Limits
For the 2023 taxation year, the TFSA contribution dollar limit is $6,500.
For the 2024 taxation year, the TFSA contribution dollar limit is $7,000. 


RRSP Contribution Deadlines
RRSP contributions made during the first 60 days of 2024 may be claimed as a deduction from income for the 2023 taxation year. The deadline for 2023 contributions is Thursday, February 29, 2024. 

RRSP contributions received after February 29, 2024, are not eligible for deduction for the 2023 taxation year.

Term Deposit

A term deposit or Guaranteed Investment Certificate (GIC) is a safe, secure, and guaranteed way of investing your money for a set length of time.

Many term deposit investors use a laddered approach, which means they divide their investment into several term lengths with different maturity dates. By using this strategy, you will enjoy the benefits of flexibility and reduce the impact of interest rate fluctuations.


  • Terms available for 1–5 years
  • Enjoy peace of mind knowing that your investment is guaranteed 100% by the Credit Union Deposit Guarantee Corporation
Registered Retirement Savings Plan (RRSP)
RRSP contributions are tax-deductible, and interest earned is tax-free until you make a withdrawal from the account.

Funds and earned interest won’t be taxed until you withdraw the funds.

  • Can also be used as a down-payment on your first home through the Home Buyers’ Plan (HBP)
  • Can be used for full-time training or education for you, your spouse, or common-law partner under the Lifelong Learning Plan (LLP)
Learn more about RRSP opportunities and limitations on the Government of Canada website.
Tax Free Savings Account (TFSA)
Tax Free Savings Accounts allow individuals to earn tax-free investment income.

  • Available to Canadian residents age 18 and older
  • Contributions will not be tax deductible
  • Income earned and capital gains under a TFSA will be tax sheltered
  • Withdrawal will not be subject to tax
  • Your TFSA contribution room information can be found on your latest notice of assessment
  • Unused contribution room may be carried forward to a future year
  • Withdrawals will increase the unused contribution room
First Home Savings Account (FHSA)
A First Home Savings Account (FHSA) is a new registered plan that gives prospective first-time homebuyers the ability to save up to $40,000 for a down payment on a tax-free basis.

  • Contributions are tax-deductible and you can contribute or transfer from your RRSP up to $8,000 per year.
  • Withdrawals used to purchase a qualifying home are non-taxable and no repayment is required for withdrawal for your home purchase.
  • Carry forward unused portions of your FHSA participation room up to a maximum of $8,000.

 


Registered Retirement Income Fund (RRIF)
The RRIF is one of the most flexible options for your RRSPs. You must change your RRSP to a Retirement Income Option (RIO) by the end of the year in which you turn 71. 



  • Set the payment amount, frequency, and investment option you want
  • Options include a variable rate, fixed terms of 1–5 years, mutual funds**, stocks** and bonds** and more
  • Funds within a RRIF continue to be income tax sheltered until withdrawn
  • The year you turn 65, income from a RRIF or Life Income Fund (LIF) qualifies for a Pension Income Credit
Registered Education Savings Plan (RESP)
An RESP is an education savings account registered with the Government of Canada. It helps you, your family, or friends put aside money for your child’s education after high school. We make it easy to save for your child’s education with the flexibility to deposit anytime throughout the year. You decide when and how much to contribute. 

  • Watch your contributions grow on a tax-deferred basis
  • As an added incentive, the federal government pays a 20% bonus - up to $500 every year, to a lifetime limit of $7,200 per child
  • In addition to your RESP contributions, you could receive the Canada Learning Bond and/or Canada Education Savings Grant
Registered Disability Savings Plan (RDSP)
A registered disability savings plan (RDSP) is a savings plan designed for long-term savings contributing to the financial security of persons eligible for the disability tax credit (DTC).
Contributions to an RDSP are:

  • not tax deductible;
  • can be made until the end of the year in which the beneficiary turns 59.

Contributions that are withdrawn are not included as income to the beneficiary when they are paid out of an RDSP. The Canada disability savings grant, the Canada disability savings bond, investment income earned in the plan, and the proceeds from rollovers are included in the beneficiary's income for tax purposes when they are paid out of the RDSP.
Mutual Funds
Mutual funds** provide members with the ability to pool their funds in a professionally managed portfolio of investments.

Through our partnership with Aviso Wealth, our Mutual Funds Investment Specialists and Investment Advisors can offer you a full selection of mutual funds. You will recognize top quality mutual funds names, such as: AGF • CI Funds • NEI Investments • Mackenzie • AIM Trimark • Fidelity • Franklin Templeton

  • Mutual funds provide investors with diversification and flexibility, with automatic contribution minimums as low as $50/month
  • Can be purchased in a lump sum, or over time with a pre-authorized contribution (PAC) plan

Notices

Designation of Beneficiary
CAUTION: Your designation of beneficiary by means of a designation form will not be revoked or changed automatically by any future marriage or divorce. Should you wish to change your beneficiary in the event of a future marriage or divorce, you will have to do so by means of a new designation. 


Declaration of Trust
Access Credit Union’s Declaration of Trust which is the governing document for RRSPs, TFSAs, and RRIFs is changing effective April 1, 2023. The change to the plan was completed for clarification purposes, however, it will not affect the day-to-day operation of your TFSA/RRSP or RRIF. A copy of the updated Declaration of Trust/ Terms and Conditions is available below:

*Though contribution limits are based on the maximum annual RRSP contribution room set by the government, there are other factors. Each individual has their own annual maximum contribution limit calculated as:

  • 18% of your earned income from the previous tax year OR the annual maximum set out by the government – whichever is less.
  • This amount is adjusted for pension plan members and any unused contribution room carried forward from previous tax years

It is the individual’s responsibility to ensure no over-contributions to RRSP plans. Individual contribution limits can be found either on a Notice of Assessment (when CRA processes your tax return), or through CRA My Account online. Over-contributions are subject to a penalty tax of 1% per month for as long as it remains in your account.

**Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial 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 funds, other 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 and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

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