Do You Have Questions?

Give us a call, we would love to answer them

1.844.685.6225

Email Us

Send us a message, it's easy

Contact Us

Find A Branch

Retirement Savings Plan (RSPs)

WHEN TIMES ARE TOUGH, MAKE YOUR RETIREMENT PLAN TOUGHER.

Retirement could be just around the corner for you, or decades in the future. No matter where you’re at in your journey or what your retirement goals and dreams are, the Chinook Financial team understands our economy, and always puts your financial needs and aspirations first. Let’s build a plan that balances your needs today, your savings for tomorrow and keeps you on a path to achieve your future goals and dreams.

 

You’ll be protected by a rock solid 100% Term Deposit Guarantee*, unique to credit unions.  

 

Book An Appointment   

 

Retirement Planner

 

 

GROWING YOUR RRSP SAVINGS PORTFOLIO!

RRSPs, or Registered Retirement Savings Plan, are a smart way to build your retirement savings through a government sanctioned account that allows you to save for retirement while deferring the tax you would pay on those savings until you take the money out. Your RRSP contributions, within limits, are tax deductible, and the income including any earned from investments is tax sheltered. Most people will be subject to lower taxes in retirement than in their working years, making it an account that helps you to save money in more than one way.

 

Tax Benefits

Any deposits into the account can be deducted from your taxable income at the end of the year, up to the maximum contribution limit. Also, any gains your investments earns within this account are tax free until the money is withdrawn, in which case you are taxed on the full amount you withdraw.

 

Contribution Limits

Invest regularly to maximize your gains! You can invest up to 18% of your earned income, up to a max $26,010, for the 2017 tax year. If you have unused contribution room from last year, you can carry it forward. Your contribution limit will be listed on your tax assessment that you receive from the CRA annually. Any contributions over the limit on your assessment are subject to tax of 1% per month. You can only keep a RRSP up to the age of 71, at which point the money must either be withdrawn or rolled over into a RRIF. This account can be used with certain term deposits, or our Wealth Management products, to get you a maximum return.

 

 

ADVANTAGE MARKET INVESTMENTS DELIVER RESULTS

Advantage Market Non-Redeemable Term Deposit brings together the growth potential of the stock market with the comfort of the Credit Union Deposit Guarantee. These unique products offer a rate of return linked to the market performance of key economic sectors with a guaranteed minimum interest income, plus your capital is 100% guaranteed at maturity regardless of market movements**. It’s free of administration fees and purchase commissions! 

 

Diversify your portfolio today with a 3-year or 5-year Advantage Market capital protected investment, offering simplicity, consistency and peace of mind.  A minimum $500 investment is required and it's eligible as a Term Deposit, Tax-Free Savings Account or Retirement Savings Plan.

 

FOUR UNIQUE PRODUCTS TO CHOOSE FROM:

 

  • Advantage Market Financial Services: Rate of return linked the performance of Canadian financial institutions.
  • Advantage Market Consumer Staples: Rate of return linked to the performance of international consumer staples companies.
  • Advantage Market Health Care: Rate of return linked to the performance of international health care industry companies.
  • Advantage Market Canadian Diversified: Rate of return linked to the performance of a diversified range of Canadian companies.

 

Chinook "Select" G.I.C.

  • $2,500 minimum investment
  • Fixed to maturity rate
  • Interest paid annually
  • 60 month term
  • Redeemable prior to maturity on anniversary date***
  • RRSP eligible

Mortgage Investment Certificate (MIC)

The Mortgage Investment Certificate (MIC) provides a rate based on the average yield of the current mortgage portfolio. The longer you invest the higher rate of return you receive.

  • $1,000.00 minimum investment
  • 1 to 5 year term
  • Interest penalty for early redemption is 1.0% of principal balance for each remaining or part thereof. Member is still paid accrued interest to date of redemption.
  • Interest compounded annually
  • Interest rate is variable, changed monthly based on mortgage portfolio yield

Fixed Non-Redeemable RRSP

  • 1 to 5 year terms with auto renew at rates in effect at the time of renewal
  • $1,000.00 minimum investment
  • Fixed rate
  • Interest rate determined by market

Variable Redeemable

  • Partial withdrawals allowed at any time
  • Monthly deposits allowed
  • Interest calculated daily and compounded on June 30 and December 31.

Variable (Interest Calculated Daily, Paid Semi-Annually)

0.25%

RSP Non Redeemable: Min Deposit $1000.00

One Year

2.05%

Two Year

2.25%

Three Year

2.35%

Four Year

2.45%

Five Year

2.75%

RSP Chinook Select

Five Year

2.75%

RSP MIC: Less Than $100,000.00*

2 Year (Interest Paid Yearly)

0.105%

3 Year (Interest Paid Yearly)

0.605%

3 Year (Interest Paid Monthly)

0.105%

4 Year (Interest Paid Yearly)

0.855%

4 Year (Interest Paid Monthly)

0.355%

5 Year (Interest Paid Yearly)

1.105%

5 Year (Interest Paid Monthly)

0.605%

RSP MIC: $100,000.00 or more*

2 Year (Interest Paid Yearly)

0.355%

3 Year (Interest Paid Yearly)

0.855%

3 Year (Interest Paid Monthly)

0.355%

4 Year (Interest Paid Yearly)

1.105%

4 Year (Interest Paid Monthly)

0.605%

5 Year (Interest Paid Yearly)

1.355%

5 Year (Interest Paid Monthly)

0.855%

?Did You Know

By depositing your RRSP contribution monthly you take advantage of compounding interest. That means you'll be earning interest on the interest! In the long run, this can have a a very positive impact on your investments. Take advantage of the monthly deposit advantage by automatically transferring funds from your account to your RRSP. Just fill in the authorization form at one of our branches!

 

Find A Location

The Legal Stuff:

*Rates effective as of 4 December 2017. Terms and conditions apply. All principal and interest is 100% guaranteed by the Credit Union Deposit Guarantee Corporation, excluding common shares, investment shares, and mutual funds. All rates and products are subject to change without notice. Online brokerage services are offered through Qtrade Investor, 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 and other securities are not insured nor guaranteed, their values change frequently and past performance may not be repeated. The advice on our website is prepared without knowing your personal objectives, financial situation or needs. Before you act on this or any advice, please consider if it's right for you, and reach out to our teams to help determine if the product is appropriate for you.  Legal Terms of Use apply.

**Advantage Market offers a return that ranges between the guaranteed minimum return and the predetermined maximum return. If the market advances,

you receive a variable return of up to the predetermined maximum. If the market pulls back, you receive the minimum guaranteed return and your principal and interest is 100% guaranteed by the Credit Union Deposit Guarantee Corporation, excluding common shares, investment shares, and mutual funds. The maximum possible cumulative return for Advantage Market is 22% on a five-year non-redeemable term deposit.

***Chinook "Select" Term Deposits are only redeemable on the annual anniversary date with a penalty of 1% of the principal balance to a maximum of $100.00.