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Registered Products

You’ve worked hard for your money, now let your money work for you.

We offer a variety of smart investment options that can help you achieve your goals, whether you’re saving for your child’s education, planning your retirement, or simply saving.

Do you have registered investments at another financial institution? Talk to us about investment options at our credit union. If you like what you hear, we’ll cover any transfer fees for investments over $10,000. It’s just another small way that we help you grow your investments.

TAX FREE SAVINGS ACCOUNT (TFSA)

Make your money grow with a tax-free account.

If you’ve already made your annual RRSP contribution to reduce your taxable income and are still looking for a tax-free savings growth opportunity, a TFSA may be the answer. Capital gains in the form of interest and dividends grow tax-free for life – and they aren’t taxed at withdrawal.

FEATURES
  • 1- to 5-year terms or open savings available
  • Contributions are not tax deductible, but the investment income earned in your TFSA is tax-free, even upon withdrawal
  • Unused contribution room can be carried forward
  • Withdrawn amounts can be redeposited the following year without reducing your contribution room
  • Contributions and withdrawals will not affect your eligibility for federal benefits like the Guaranteed Income Supplement and Canada Child Tax Benefit
  • TFSA assets can be transferred to your spouse or partner on your death without affecting their contribution room
  • You must be at least 18 years of age and have a Canadian social insurance number
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

FIRST HOME SAVINGS ACCOUNT (FHSA)

The key to unlocking your dreams of home ownership is the tax-free FHSA.

The FHSA is a registered savings account designed for prospective first-time homebuyers. Similar to an RRSP, it allows you to make tax-deductible contributions. But what sets it apart is its non-taxable withdrawals, similar to a TFSA, which you can use towards purchasing your first home. Plus, you don’t have to ‘pay back’ that withdrawal like you do when you use funds from your RRSP for a down payment.

FEATURES
  • Tax-deductible contributions (up to $8,000 each year / lifetime limit of $40,000)
  • Tax-sheltered savings (investment income and growth within the account are not taxable)
  • Tax-free withdrawals (on qualifying withdrawals for a first home purchase)
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

REGISTERED EDUCATION SAVINGS PLAN (RESP)

A better tomorrow for your family starts today.

As post-secondary education costs continue to spiral, an RESP helps families save for their children or grandchildren. It’s a flexible way of investing in a child’s future and a practical way to defer tax to the beneficiary, who will likely be in the lowest tax bracket when funds are withdrawn. And contributions can qualify for government grants!

FEATURES
  • Funds grow tax-sheltered until the child withdraws money for post-secondary education
  • Principal amount can be withdrawn anytime, tax-free
  • Family plans allow the contributor to designate several children as beneficiaries
  • Accounts can stay open for up to 36 years if your child chooses to delay post-secondary education
  • Parents, guardians, grandparents, other relatives, or friends can open an account for a child
  • A variety of investment options are available, such as term deposits and mutual funds
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

REGISTERED RETIREMENT SAVINGS PLAN (RRSP)

Tomorrow's dreams start today.

Grow your retirement assets while lowering your taxable income today. Your RRSP investments can grow tax-free for as long as they remain in the plan. You can transfer a lump sum from your savings, make a pre-authorized monthly contribution, or borrow to take full advantage of this tax deferral option. What’s more, you get to carry forward unused contribution room.

FEATURES
  • Minimum deposit of $500
  • 1- to 5-year terms or open savings available
  • Flexible (weekly, bi-weekly, or monthly) contribution schedule
  • Secure rate of return guaranteed for a fixed period
  • Interest added to term annually and to open savings monthly
  • No fees for deposits or administration
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

REGISTERED RETIREMENT INCOME FUND (RRIF)

Make your retirement dreams a reality.

Looking for a great way to turn your retirement dream into reality? You can do so with a Moya Financial RRIF. Your principal is protected, and your investment remains tax-sheltered. A minimum annual taxable withdrawal is required after age 71 (a percentage of the value of your RRIF on December 31 of the previous year). Withdrawal amounts and frequency can be changed as your needs evolve..

FEATURES
  • Fixed plans available
  • Your savings grow tax-deferred (minimum yearly withdrawals required)
  • Pay tax only on withdrawals
  • Withdrawals can be deposited to any account
  • No fees for withdrawals or administration
  • Income provided monthly, quarterly, semi-annually, or annually
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

HERE TO HELP

Ready to start investing? Call or visit our Contact Us and ask to speak with one of our Financial Services Representatives.

Did you know registered products have unlimited protection with the Financial Services Regulatory Authority of Ontario?

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