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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 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.  

 

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Retirement Planner

 

 

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Advantage Market Term Deposits

Advantage Market Non-Redeemable Term Deposit brings together the growth potential of the stock market with the comfort of the Credit Union Deposit Guarantee. Choose from:

  • Advantage Market Financial Services: Rate of return linked the performance of Canadian financial institutions.
  • Advantage Market Canadian Diversified: Rate of return linked to the performance of a diversified range of Canadian companies.
  • 3-year or 5-year options available
  • A minimum $500 investment is required
  • Free of administration fees and purchase commissions


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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


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Chinook

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


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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


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Variable Redeemable

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


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Variable (Interest Calculated Daily, Paid Semi-Annually)

0.25%

RSP Non Redeemable: Min Deposit $1000.00

Five Year

1.10%

Four Year

1.05%

Three Year

1.00%

Two Year

0.90%

One Year

0.50%

RSP Chinook Select

Five Year

1.10%

The Legal Stuff:

*Rates effective as of 11 March 2020. 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 20% 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.