RRSP
Registered Retirement Savings Plan

A Registered Retirement Savings Plan is a government-approved plan through which you save money for your retirement years. Your contributions, within limits, are tax deductible, and the income earned is tax sheltered.You can also have any number of plans.

It is important to start investing money when you can most afford it - during your peak earning years - to build up a comfortable retirement fund.

At Swan Valley Credit Union, we offer RRSP's which are easy to understand. These plans also provide investment flexibility and are secure. A Registered Retirement Savings Plan is a tax sheltered savings plan that allows a tax break now, and allows you to tax shelter contributions and interest to provide an income for future years. Each dollar you contribute (subject to Revenue Canada's limits) to your RRSP gives you a tax deduction for the same amount. When you take money out of your RRSP, it is then treated as taxable income, but you control when and how much you take out. This can be timed to occur when your income is lower.

Whether you invest in a Variable RRSP, where your interest rate varies with changing marketplace conditions, or a Fixed Term RRSP, where you earn a fixed rate of interest, with as little as $25 per month you can be well on your way to a comfortable retirement. So please, for your future, speak to any of our Member Services Representatives to set you up with a plan that suits your lifestyle.

Fixed Term RRSP Features

Variable Term RRSP Features

• Minimum initial deposit of $100
• Rate of interest varies with current rates and is always competitive
• Interest compounded semi-annually (March 31 & September 30)
• Automatic deposits free of charge

All Swan Valley RSP products enjoy no registration or front-end loading fee, no administration fee, no transaction fees, no unloading or withdrawal fee or penalty. RRSP term deposits locked in for period selected, except in case of death, the purchase of an annuity or Registered Income Fund.

All deposits with the Swan Valley Credit Union are fully guaranteed by the Credit Union Deposit Guarantee Corporation.

RATES | DEPOSIT CALCULATOR | DICTIONARY