Savings Accounts & GICs
If you're looking to start simple,
our in-branch team can get you started on the spot with an RRSP containing a variable Savings Account
or fixed-term GIC, to get you earning interest with no risk to your retirement savings
.
Savings Accounts: This account lets you earn interest at a great
variable rate. You can contribute any time and there's no minimum balance, making this a great way to start your retirement savings or to make small, frequent deposits to your RRSP.
GICs: These offer a higher
interest rate than a savings account by locking in your funds for a term of one to five years. The interest rate is fixed, so you'll know exactly what you'll earn by the end of your term, and your money is
guaranteed 100% by the Credit Union Deposit Guarantee Corporation of Manitoba.
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If you want to invest your RRSP funds in the market with mutual funds*, ETFs*, stocks* or bonds*, Credential Securities at Cambrian has a
full team of financial advisors available to help. They'll work with you to choose the right options for your situation and can help you build a full plan to prepare for retirement.
If you prefer to buy your investments yourself, our online brokerage partner
Qtrade Investor lets you manage your investments independently online.
For those looking for a digital advice solution, Cambrian has partnered with
VirtualWealth, a digital investing service that provides you with a professionally managed, low-cost portfolio.
Registered Line of Credit
Now, you are saving tax deferred for your retirement dreams; and later, you are generating a tax saving today with current contributions to your retirement savings plan. When you are ready to begin drawing on your RRSP, you can convert these savings to a Cambrian Registered Retirement Income Fund (RRIF), which has the flexibility to tailor the income you will receive throughout your retirement.
All Registered Retirement Savings can be made within either a variable plan (
Premium Savings) or invested within a variety of fixed-terms (
GICs). All contributions can be made throughout the year by pre-authorized contributions or through one-time annual contributions. A full range of other market investments are also available for RRSPs and RRIFs through Cambrian's knowledgeable investment specialists.
Now, you are saving tax deferred for your retirement dreams; and later, you are generating a tax saving today with current contributions to your retirement savings plan. When you are ready to begin drawing on your RRSP, you can convert these savings to a Cambrian Registered Retirement Income Fund (RRIF), which has the flexibility to tailor the income you will receive throughout your retirement.
All Registered Retirement Savings can be made within either a variable plan (
Premium Savings) or invested within a variety of fixed-terms (
GICs). All contributions can be made throughout the year by pre-authorized contributions or through one-time annual contributions. A full range of other market investments are also available for RRSPs and RRIFs through Cambrian's knowledgeable investment specialists.
Sometimes it can be difficult to come up with extra cash at the RRSP deadline to make a contribution that could save you money. If you want to take advantage of unused RRSP contribution room, you can borrow the money for your contribution with our RRSP Line of Credit. Over the long run the interest earned on your investments and the money saved on your taxes can outweigh the cost of borrowing.
- There are no service fees on this account
- Credit limits are available from $500 to $20,000
- Funds can be transferred from your RRSP Line of Credit through online banking, touchtone banking or at any branch
- Interest is calculated on the daily closing balance and charged at month end, and the interest rate follows prime for members in good standing
- Funds are expected to be repaid within a year
- Life and disability insurance available