It’s never a bad time to save for retirement or whatever else you desire. To help you realize your dreams, Cambrian Credit Union is now offering Tax-Free Savings Accounts (TFSAs). You can open up your Cambrian TFSA quickly and easily.

What is a TFSA?

Savings for all needs – TFSA or RRSP?

The TFSA offers many benefits, with great flexibility. Unused contribution room can be carried forward to future years and any amount withdrawn can be replaced in future years without reducing your contribution room.

While RRSP contributions are meant exclusively for retirement savings and offer deductions for income tax purposes, they are also taxed at the time of withdrawal. While it is true that withdrawals from a TFSA will not be taxed, unlike the RRSP, contributions to a TFSA will not be tax deductible. Income earned on TFSAs will not affect your eligibility for other federal income-tested benefits and credits, such as Old Age Security.

Everyone’s situation is different and our team of specialists will help you establish a savings plan that suits your unique needs. Whether you invest only in TFSAs, RRSPs or a combination of both for you and your spouse, Cambrian is dedicated to providing the necessary products and information needed to meet your financial goals.

All with a Full Deposit Guarantee!

Beyond the great rates you have come to expect from Cambrian and the Tax-Free Savings you will receive with a TFSA, all your deposits at Cambrian Credit Union receive 100% deposit protection through the Credit Union Deposit Guarantee Corporation of Manitoba.

For more information specific to the TFSA, visit Canada Revenue Agency's website at http://www.tfsa.gc.ca. For all other inquiries, please contact your nearest branch.