Special GIC Offer

Real safe. Just like an Affinity savings account, the deposits you make into a GIC are fully guaranteed by the Credit Union Deposit Guarantee Corporation, and that means your money isn’t going anywhere.

Registered investment accounts – RRSPs, TFSAs, RESPs and RDSPs – come with certain perks care of the federal government. These include tax breaks and grants. Depending on the type of investment, there may be tax implications when you withdraw from the plan.

Non-registered accounts aren’t registered with the federal government and therefore aren’t eligible for tax breaks or grants. The earnings from your non-registered investments need to be claimed as regular income each year on your tax return.

It depends on the GIC product you choose as well as the length of your investment term. If you commit to a 5-year term, it makes sense that you’ll earn more interest than you would with a 1-year term.

Compound interest lets you accelerate your interest earnings. The interest you earn from your GIC is reinvested into the principal so your investment earns even more interest.

Interest is compounded for registered GICS. For non-registered GICs, it can be compounded or paid into your Affinity account.

It depends on the term length you choose for your investment. The term can range from 1 to 5 years with a Fixed-Term GIC and you can access your funds at the end of the term, otherwise known as the maturity date.

With an Escalator GIC, terms can be set at 3 or 5 years and funds can be accessed at maturity or on the anniversary date each year.

Flex-Term GICs offer more flexibility – you can withdraw your deposit in as little as 30 days after purchasing the GIC, without penalty.

When your GIC matures, you can withdraw your money if you need it, transfer it into a different investment or leave it and let it automatically roll over into a new GIC of the same term and type. Call our Contact Centre at 1.866.863.6237 to discuss your options in detail.