Union Bay Credit Union offers a range of investment options to suit your needs. From Term Deposits and GICs and other products, we have an investment product to get your money growing.
Union Bay Bonds
If you're drawn to good old-fashioned savings, you might want to consider Union Bay Bonds. They're very much like a Canada Savings Bond and are one of the simplest and most secure ways to set money aside for a rainy day. Our Union Bay Bonds:
- will always meet or beat the posted Canada Savings Bond rate
- are available as a 1 or 3 year investment
Our 1-year bond is redeemable after 30 days without penalty and our 3-year bonds are redeemable without penalty for the 30-day period following each anniversary.
Like Canada Savings Bonds, our Union Bay Bonds are only available in the fall, beginning in October of each year.
If you’ve got a small nest egg you want to tuck away for a short period of time, you should consider a Term Deposit as an option. Union Bay CU Term Deposits offer a secure, worry-free investment that guarantees you a set return over a fixed time period.
Our Term Deposits:
- offer investment periods of 30 to 364 days
- can be non-redeemable or cashable
- can start with as little as $500 pay interest annually, semi-annually or monthly
- are 100% guaranteed
You can invest in them for a little while or a long while, get instant access or leave it alone to gather interest.
At Union Bay CU, we know that reaching a goal sometimes requires keeping your savings just out of reach. That’s why we offer Guaranteed Investment Certificates (GICs) that make it easier to protect and build your savings. Whether you’re saving for a trip to Disneyland, a fabulous wedding or a deposit on your dream home, our GICs will help you make it happen.
Union Bay CU GICs:
- offer investment periods of 1 – 5 years
- can be non-redeemable or cashable
- can start with as little as $500
- pay interest annually, semi-annually or monthly
- are 100% guaranteed
GICs are a great way to ensure steady growth so that you can reach your goals, whatever they may be.
RRSPs are a great way to pave the way to a retirement that’s free from money-stress. They’re also smart investment tools for building your wealth today. When you contribute to an RRSP you:
- pay less income tax, which is more money in your pocket
- create a long-term savings plan by making small monthly contributions
- grow your net worth tax-free until you withdraw it
We can help you start or strengthen your investment plan with RRSPs that:
- offer investment periods of 3 – 5 years
- have a “re-invest” option on anniversary dates
- can start with as little as $500 or $50 weekly, bi-weekly or monthly
At Union Bay CU, we can help you make the most of RRSP investments, create a portfolio that will serve you in the long term and make the most of your income today.
If you’ve invested in RRSPs, you will be required to mature them when you turn 71. You could cash them in and pay a hefty tax bill. Or you can convert them into a registered retirement income fund (RRIF). Union Bay CU RRIFs give you the flexibility to choose investments and payment schedules that satisfy the Government of Canada's guidelines and still suit your lifestyle.
With a RRIF from Union Bay CU:
- your funds remain tax sheltered
- you're still in control of how they're invested
- you have the option to withdraw any amount per year above the minimum requirement
- all money withdrawn is taxed as straight income
We can help you set up your RRIF and make the right investment decisions to help you relax and enjoy your retirement.
Saving for a child’s university or college education is one of the best ways to create a future where anything is possible. Making it possible for you as a parent, grandparent or guardian takes some good advice, small investments and an RESP from Union Bay Credit Union.
Union Bay CU RESPs are designed to make saving for a post secondary education simple. They offer:
- interest that’s compounded and tax free until it's withdrawn
- maximum lifetime contribution of $50,000 per beneficiary
- $500 per beneficiary per year from the Canadian Education Savings Grant up to a lifetime limit of $7,200
- tax on only the accumulated income, not the principal transferable funds
- a 21-year investment period
You can also use them to save for your own education. Anyone who is 18 years or older with a social insurance number can open and contribute to an RESP. Whether your education goals are for a young person in your life or to create opportunities through education for yourself, an RESP from Union Bay CU can pave the way to a brighter future.
Save without paying taxes on your accumulated interest? Yes, it’s possible. It’s called a Tax Free Savings Account. Introduced by the Government of Canada in 2009, this registered savings account is considered by many to be the single most important personal savings tool since the RRSP. A TFSA allows you to invest up to $5000 per year and withdraw funds whenever you’d like, all without a paying any taxes on the investment income you’ve earned.
A TFSA from Union Bay CU also allows you to:
- carry your unused contributions forward indefinitely
- access your account at your convenience
- hold a variety of investments in your account
- make 2 free annual withdrawals ($5 per withdrawal after)
At Union Bay Credit Union, all deposits are 100% guaranteed by the CUDIC of British Columbia.
At Union Bay CU, we believe in being the change we want to see. That’s why we offer our members the opportunity to do good for themselves and the world by investing in socially responsible funds - the kind of investments that reflect their core values, such as:
- respect for the environment
- social justice
- corporate responsibility
Ethical Funds®, available to our members through Credential Asset Management Inc., is the first socially responsible mutual fund family in Canada. Ethical Funds® is a division of Northwest and Ethical Investments L.P.(NEI). Owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group, NEI manufactures investment solutions specifically targeted to partners of Credential Financial Inc.
As a Credit Union, we’re proud to offer our members access to the kind of funds that are in line with our own socially responsible philosophy. Ethical Funds® are an important and effective way to extend this philosophy out to the broader market and the world.
Qtrade Investor Online Brokerage
Canada's Leading Independent Online Brokerage offers a full range of investments including:
- stocks, options and fixed income securities
- research, news, real-time quotes, portfolio watchlists, e-mail alerts and more
- low trading commissions
- easy electronic funds transfer to and from your Union Bay chequing account
- CIPF coverage of $1 million plus $10 million additional coverage per account
"Online brokerage services are offered through Qtrade Investor, a division of Qtrade Securities Inc., member IIROC and CIPF."
*Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not insured nor guaranteed, their values change frequently and past performance may not be repeated.
®Ethical Funds and Ethical are registered marks owned by Northwest and Ethical Investments L.P. and are used under licence. Ethical Funds® are available only to Canadian residents.