Registered Investments

RRSP - Registered Retirement Savings Plans

An RRSP is an investment in your future, with benefits you can enjoy today. When you make an RRSP contribution, you take advantage of substantial tax savings today and enjoy peace of mind in knowing you'll have a financially secure retirement. Plus, your RRSP contributions are completely tax sheltered as long as they remain in your RRSP. Only RRSPs work as hard for you today as they will in the future.

In the RRSP Canada program, anyone with 'earned income' subject to Canadian tax may contribute to an RRSP. Each year, you can contribute your maximum personal contribution limit prior to the RRSP deadline. The best way to find out how much you can contribute to your RRSP each year is from the 'Notice of Assessment' you received from Canada Revenue Agency with your previous year's tax return. This will also include any unused RRSP contribution limit from past years.

Under the RRSP Canada program, contributions made during the first 60 days of the year may be deducted for the current or the immediately preceding taxation year. Let us show you how it makes good sense to make regular RRSP contributions throughout the year!

Maximize your unused RRSP contributions
If you haven't always taken advantage of all your RRSP contribution room each year since 1991, you can carry forward the unused portion indefinitely.

To maximize your RRSP contribution and to take advantage of any unused allowable contributions, WFCU Credit Union offers the Maximum RRSP Loan.

Let us show you how the cost of borrowing can be offset by your tax savings at year-end:


 Savings Account

 Fixed-Term RRSPs

 Mutual Funds**

  • Variable rate of interest
  • Immediate access
  • No minimum investment   RRSP by payroll available to build your contributions automatically
  • Our highest guaranteed interest rate
  • Guaranteed principal and interest
  • Terms from one month to five years
  • Professionally managed
  • Potential for diversification
  • Allows you to begin... NOW!
  • ALL funds reinvested into our Community
  • Easy to manage
  • Guaranteed return
  • ALL funds reinvested into our Community
  • You choose the fund that matches your objectives
  • Redeemable at any time

 Short Term

 One Month to 5 Years

 Short term or long term to suit your financial objectives

Minimum Investment

 No Minimum


 $500 or $50 per month


 Can be re-invested into a fixed term RRSP after achieving a $500 balance

 At maturity

 Redeemable anytime
(Fees may apply)

RRSP Loans

   RRSP Loans as low as prime!
Let us show you how it can pay to borrow for your RRSP contribution.

Tax-Free Savings Account

There is no limit on the number of years unused contribution room can be carried forward. The Tax-Free Savings Account (TFSA) is a registered savings account that allows taxpayers to earn interest income tax-free inside the account.


RRIFs - Registered Retirement Income Funds

Registered Retirement Income Funds (RRIFS) are a financial product funded with RRSP deposits and designed to provide an income stream during retirement. Interest accumulates tax free in a RRIF deposit until the funds are paid out. A RRIF may be purchased any time prior to December 31st of the year the planholder attains age 71.


LIFs - Life Income Funds

Designed to provide income for life, a Life Income Fund (LIF) is a savings plan available to members with Locked-In Funds that need to begin receiving payments when the member reaches retirement age as outlined in the original pension agreement.  Locked-in plans must be administered according to the individual plan/jurisdiction.

RESPs - Registered Education Savings Plans

A Registered Education Savings Plan (RESP) is a government approved plan for the purpose of providing post-secondary education funding for a beneficiary. Income earned under the plan is not taxed until it is withdrawn.

The federal government will contribute at least 20% for every dollar on the first $2,000 of annual RESP contributions made on behalf of the beneficiary.

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.

Current Rates

Click here to see the current rates.

**Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities 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 union. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Credential Securities is a registered mark owned by Aviso Wealth Inc. Using borrowed money to finance the purchase of securities involves greater risk than purchasing using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.