Tax Free Savings Account

TFSAs were introduced in 2009 and are an excellent way to grow your savings tax free for any resident 
of Canada, who has a valid Canadian Social Insurance number and is over the age of 18 years old.
contributions are not tax deductible but because there are no restrictions on what you use TFSA funds 
for it makes them an important and versatile savings tool.

To provide a savings vehicle for individuals to earn tax-free investment income – See more at:



  • TFSAs were introduced in 2009 with new contribution room created each year based on an amount set by the Federal government.  Funds withdrawn from the TFSA one year creates new room in the following year.  To find out what your TFSA contribution room is registered for, go to the Canada Revenue Agency “My Account” at
  • For more information about what is a TFSA, beneficiaries and over-contributions go to TFSA presentations.

RRSP, RRIF and TFSA Account Holders:

“Your designation of beneficiary by means of a designation form will not be revoked or changed automatically by any future marriage or divorce.  Should you wish to change your beneficiary in the event of a future marriage or divorce, you will have to do so by means of a new designation.”  If you have any questions, please contact your branch.


  • An easy and affordable way to save for retirement.
  • Similar to a savings account.  Interest calculated on the daily closing balance and interest compounded annually.
  • Investment can be transferred to other Credit Union investment instruments at anytime.
  • Regular contributions can be made weekly, bi-weekly and monthly.

5 year Term Deposit

Watch your investments grow with the safety and security of a RRSP term deposit. Various term lengths available to suit your needs.
Best of all, the rate is guaranteed, so that you know in advance what your investment will be worth at maturity.


  • Competitive rates and fully guaranteed.
  • Investment options from 1 to 5 years.
  • Term information and activity is recorded on a descriptive monthly statement along with your other accounts.

Rate Hiker

Rate Hiker offers you the ability to boost your interest if rates rise and it protects you should the rates fall. Rate Hiker gives you peak performance.


  • Available for registered and non-registered investments.
  • Available in a 3, 4 or 5 year non-redeemable term.
  • An option exists to select an interest rate that is equivalent to the remaining term of the deposit. This option may be exercised twice at any time during the term.
  •  Interest is calculated on the daily closing balance and is paid December 31st of each year and on the maturity date.


© Copyright Catalyst Credit Union - 2014