Just for you, our members.

When it comes to financial products and services, we want to provide you with a varied and attractive range of choices. From “good old” savings accounts to mutual funds*, you’ll find a complete array of financial options for your consideration.

Investment Products

Term Deposits

A term deposit is a specified principal amount invested by a member, usually at a guaranteed rate of interest for a designated term. At Osoyoos Credit Union, we can offer you high interest investments with flexibility – short or long term. Term deposits can be opened in online banking, or by contacting the branch.

  • Excellent rates for short term (30-364 day) deposits, and for longer term (1-5 year) deposits
  • Non-redeemable term deposits offer a better-than average rate of interest for a fixed period of time.
  • Interest is paid either at maturity or annually, automatically credited to the account of your choice or compounded to the term.
  • Interest paid monthly (minimum deposit requirement)
  • Can be used as security for a low interest rate loan
  • Early redemption feature is available subject to an interest rate reduction (from original deposit date on redeemable term deposits).

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.

A product option that has been available with Central 1 since 1996. Osoyoos Credit Union added this product to our investment fleet in 2020.

Mutual Funds

Mutual funds are available as an investment option with our Mutual fund licensed Advisor.

There are many types of funds available with different risk tolerances. Common types are money market fund, income funds and equity funds.
There are also balanced funds which hold all three types of investments. The funds are divided into units. Unit values are updated frequently based on the market value of the investments.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Registered Plans

A registered savings plan is an account designed to provide you with unique tax advantages, enabling you to optimize your contributions.

Contact us today to open a registered plan.

TFSA Tax Free Savings Account

A Tax-Free Savings Account (TFSA) is a registered account that can help you grow your money tax-free. You can hold investments such as cash, stocks, bonds, and mutual funds. With a TFSA you have the flexibility to withdraw your contributions, along with any interest, capital gains, or dividends earned, without paying taxes.

Registered Retirement Savings Plan (RRSP)

RRSPs let you save on taxes today while growing your retirement fund for later. Registered Retirement Savings Plans (RRSPs) are government-registered plans that allow you to save for retirement. Contributions are tax deductible and income is tax sheltered. Learn more about RRSPs here.

Registered Education Savings Plan (RESP)

A Registered Education Saving Plan (RESP) is a government approved plan for the purpose of providing post-secondary education funding for a beneficiary. Income earned within the plan is not taxed until it is withdrawn. Parents, relatives, or friends can contribute to the RESP, and the government may provide additional funds through grants and incentives. When the child enrolls in a qualified educational program, they can withdraw the funds for educational expenses. It’s an effective way to financially prepare for a child’s education and ensure they have access to higher education opportunities. Learn more about RESPs here.

Registered Retirement Income Fund (RRIF)
A Registered Retirement Income Fund (RRIF) is a savings plan that provides you with income in retirement. It works by converting money from a retirement savings account (like an RRSP) into regular income. You must take out a minimum amount each year, which is taxable, but you can take more if needed. The money can be invested in things like stocks or bonds. It provides a steady income during retirement, making life more financially secure. You need to convert your account into a RRIF by the year you turn 71. It can also be a part of estate planning to help loved ones after you pass away.