RRSPs

Cypress Credit Union offers a variety of options for investing your RRSP. As with all deposits at the Credit Union, there is a full guarantee through the Deposit Guarantee Corporation of all deposits.

A Registered Retirement Savings Plan is a government approved plan that allows you to save money for your retirement. During your peak earning years you can invest to build your retirement fund while saving money on your taxes. Interest earned on these savings is not taxable until the funds are withdrawn. Any interest earned is compounded and the growth of an RRSP increases steadily over the years.  You may have any number of plans.

Anyone who has "earned income" subject to Canadian taxation, including non-residents, may contribute to an RRSP. You can also make a part of or all of your contribution to a plan in your spouse's name. You. as the contributor, still benefit from the tax deduction while the plan holder benefits from the growing retirement savings.

Limits to RRSP contributions are based on earned income of the previous year. You can also carry forward any unused portions.  This information is found on your CRA Notice of Assessment, or you can obtain it by phoning CRA’s Tax Information Phone Service at 1-800-267-6999.

Features & Benefits:

  • competitive rates of return for Cypress Credit Union Term Deposit RSPs
  • a number of investment options to meet your retirement goals such as Term Deposits, Mutual Funds, Index-Linked products with no admin fees
  • pre-authorized transfers ensure contributions are automatically made to your RSP plan (weekly, bi-weekly, monthly, etc)
  • our friendly, knowledgeable staff always willing to assist you
  • transfer-out fees may apply (contact your investment specialist for details)
  • Consider an RSP loan to make your RSP contribution, gives you options, flexibility and an outstanding rate.

Get more information: 

Understanding RRSP's  
Comparing RRSPs and TFSA's  
Naming Beneficiaries 
Tale of Two RRSPs Calculator
Retirement Calculator
TFSA vs RRSP Calculator

Want to know how much a RRSP will save you?  
Find out by using our RRSP Calculator