1 year 0. 0%*

2 year 0. 0%*

3 year 0. 0%*

4 year 0. 0%*

5 year 0. 0%*

Why Choose UCU for your RRSP & TFSA?

Working with a Credit Union is different. Membership with UCU offers great benefits including access to innovative and flexible financial products, better protection for your money, and you become an owner of a dividend-offering Credit Union.

RRSP’s with UCU are 100% deposit insured through the Financial Services Regulatory Authority (FSRA), no matter the amount. Also, UCU offers a range of Deposit Specials, featuring great rates to help grow your savings and investments faster.

You can take advantage of our extended branch and call centre RRSP hours, and the convenience of “instant receipts” for RRSP deposits.

The deadline for making an RRSP contribution and receiving a deduction on your 2021 tax return, is Tuesday, March 1, 2022.

What are RRSPs and TFSAs and why are they important?

A Registered Retirement Savings Plan (RRSP) is a retirement savings and investment program available to working Canadians. Money that is placed into an RRSP can accumulate tax-free until the time it is withdrawn.

RRSPs offer many benefits, including allowing you to deduct contributions against your income for tax purposes. Also, the growth of your RRSP investments is tax-deferred. This means they are exempt from any capital gains tax, dividend tax, or income tax.

A Tax-Free Savings Account (TFSA) is a savings or investment account available to Canadians in which contributions, interest earned, dividends, and capital gains grow tax-free and can be withdrawn tax-free.

The major difference between RRSPs and TFSAs is that RRSPs offer a tax deduction when you contribute. However, you have to pay tax when you withdraw. Conversely, TFSAs offer no up-front tax break against your income, but you don’t pay tax on any withdrawals or investment growth.

Talk to a Financial Expert today.

Our financial experts will answer any of your RRSP or investment questions. To speak with a UCU Advisor, call 1-800-461-0777 or submit the following form. Get started today!

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*Rates are subject to change, without notice, at the sole discretion of Ukrainian Credit Union. 0.25% bonus on top of 3, 4, 5 year terms.