RRSPs

Fixed Term Deposits

  • Registered Retirement Savings Plans allow you to save for retirement and defer tax.
  • Fixed terms (fixed interest rates) available for 1,2,3,4,or 5 years.
  • Interest is paid (compounds) annually on the anniversary date of the deposit.

Variable Rate Savings

  • Registered Retirement Savings Plans allow you to save for retirement and defer tax.
  • Variable Rate Savings Option: pays interest annually, on December 31st, on the minimum monthly balance.
  • Usually used to hold matured fixed amounts prior to transfer, or to accumulate small monthly contributions – then consolidate into a fixed term at later date.
  • Automatic monthly transfers from any deposit account can be arranged.

Term Deposits

Preparing for Tomorrow’s Events…With Secure, Worry-Free Term Deposits

When you’ve got specific goals in mind, there’s nothing more satisfying than watching your hard- earned money grow in a secure investment! You can count on OWCU Term Deposits to earn competitive interest rates. Plus, you’ll enjoy peace of mind knowing your investment is solid and secure.

Tell us your goals and we’ll tailor a savings plan that fits you perfectly! Whether you’re saving for a holiday later this year…or saving for your baby’s education twenty years from now… the OWCU can help you get things rolling.

We’ll work with you to determine the amount and frequency of your deposits. We’ll help you select the terms that suit you best…anywhere from one month to several years. And we’ll guarantee the interest rate for whatever length of term you choose.

Together we can bring your savings goals within easy reach. We’ll also ensure that funds deposited in your credit union remain in your community.

Redeemable Term Deposits

Fixed interest deposits available:

  • Amounts of $200. – $4999. for terms of 90,120,150,180,270, 365 days;
  • Amounts of $5000.+ for terms as above plus 2,3,4, and 5 years.
  • These deposits are redeemable prior to maturity, however an interest penalty applies.

Non-Redeemable Term Deposits

Fixed interest deposits available:

  • Amounts of $5000.+ for terms of 30 days to 5 years.
  • These deposits are not redeemable prior to maturity, but pay a higher rate of interest than the redeemable term deposit.