Term Deposits

A term deposit (also known as a GIC) is a specified principal amount invested by a member, usually at a guaranteed rate of interest for a designated term. At OCU, we can offer you competitive interest investments with flexibility – short or long term. Term deposits can be opened in online banking, or by contacting the branch.

Keep Your Money Local with OCU Term Deposits

When you purchase a term deposit, your money stays local, supporting our community’s growth. It funds your neighbor’s new home, helps your favorite local retailer expand, and backs vital community projects that improve our shared quality of life.

Index-Linked Term Deposits

  • A term deposit where your principal is protected, providing a lower-risk alternative to investing directly in equities.
  • Interest is tied to the growth of the S&P/TSX 60 over the term of the deposit, allowing for the potential of greater returns than standard deposits.
  • 2 term options: Secure 3 year or 5 year non-redeemable fixed terms.
  • Index-Linked Term Deposits can be part of registered plans, and deposits are eligible for deposit insurance (subject to provincial limits)..
  • Unlike other term deposits, there is no guaranteed return on this product.
  • Depending on the performance of the stocks comprising the S&P/TSX 60 Index over the term, it is possible that, at maturity, the investor will receive only their principal back.

U.S. Term Deposit

​U.S. Term Deposits allow you to earn interest on your U.S. funds while allowing you quick access to your money when, and if, you need it. Manage your own currency risk; invest when the Canadian dollar is strong, and lock in your funds for as little as 30 days up to one year.

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