What is a GIC?

A GIC (Guaranteed Investment Certificate) is a safe, low-risk investment that works similarly to a savings account. You deposit money into a GIC account, and that amount earns interest over time. The difference is, a GIC requires you to leave the money in the account for a specified period of time (a term) – if you elect to withdraw your funds early, before your term is up, you typically have to pay a penalty. Terms range from 1 year to 5 years. The longer your term, the higher the interest available for you to earn. Upon completion of your term period, you receive the entire sum that you deposited, plus your earned interest.

GICs Have The Following Benefits:

• Peace of mind knowing that your interest rate is guaranteed and your principal is safe and secure.
• A range of terms to fit your investment needs. All funds are reinvested in our community as loans and mortgages.

	WFCU Credit Union Guaranteed Investment Certificates (GICs)
Features	Our highest guaranteed interest rate for the term selected Safe and secure Interest payment flexibility Automatic renewal options
Rate of Return	Guaranteed for the term selected
Terms	1 year to 5 years
Minimum Investment	$500 for Adults $100 for Young Members (under 18)
Current Rates	Click here to view the current GIC rates

Financial Services Regulatory Authority (FSRA)

As a member of WFCU Credit Union, you can rest assured that your deposits are safe, secure and insured. As a credit union in Ontario our members deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA).

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).  Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).

For more information on deposit insurance, please click here.