RETIREMENT SERVICES

Registered Retirement Savings Plans (RRSPs)

"Taking Control of Your Future" Having the Best of Both Worlds.....Today!
An RRSP is an investment in your future, with benefits you can enjoy today. By contributing to an RRSP, you can take advantage of substantial tax savings now, and enjoy peace of mind knowing that you will have a secure retirement. Plus, your RRSP dollars are completely tax sheltered as long as they remain in the fund. Only RRSPs work as hard for you in the present as they will in the future.

Committing to a Successful Future....

Whether you're starting your first job, just starting a family, or finally hitting your peak financial earning years, RRSPs play an important role in your long term financial plan. No matter what stage of life you are in, Cornerstone Credit Union can help make the most of your allowable RRSP contributions.

Variable Rate RRSP

This type of RRSP ensures that your investment keeps pace with the current interest trends. Interest rates are reviewed and adjusted regularly so you benefit from the most competitive rate.

Fixed Rate RRSP

A Fixed Rate RRSP provides the security of knowing your rate of return is guaranteed for a fixed period of time. You can choose the term that best suits your plans.

Ethical Funds Inc.*

There are thousands of mutual funds you can choose for your RRSP. But if you want your money to be invested responsibly – both socially and environmentally – there’s only one clear choice. Ethical Funds® is Canada’s most comprehensive family of socially responsible mutual funds. Our family of funds gives you a range of domestic and foreign investment options, so you can build a portfolio suited to your goals. Ethical Funds® also offer RESP, group RRSP (for our business clients) and Pre-authorized Contributions (PAC) regular investment options.

Mutual Funds*

Through Cornerstone Credit Union's partnership with Credential Asset Management Inc., members now have access to hundreds of top performing Mutual Funds.
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 are not guaranteed, their values change frequently and past performance may not be repeated. ®Credential is a registered mark owned by Credential Financial Inc. and is used under licence. ®Ethical is a registered mark owned by Ethical Funds Inc. and is used under licence.

Self-Directed RRSPs

Through our partnership with Credential Financial Strategies Inc. and Credential Securities Inc., credit union members are able to arrange an almost unlimited number of investment options under the umbrella of a self-directed RRSP.

With the Convenience of Monthly Deposits...

Maximize your money by depositing your RRSP contributions monthly. The interest earned is compounded, which means you'll be earning interest on interest!
In the long run this can have a dramatic effect on your investments.

Example:

Annual Contribution* of $1,200.00 is worth $133,940.00 after 30 years.
Monthly Contributions* of $100.00 is worth $140,855 after 30 years.
A difference of $6,915.00.

* Assuming investment made at the end of each month or year. Contributions compounded annually over 30 years at an Interest Rate of 8%.

You can deposit a lump sum at the end of each year, but if you deposit the same amount by making 12 monthly payments, you'll actually be farther ahead! Cornerstone Credit Union can help you benefit from the monthly deposit advantage, by automatically transferring funds from your account to an RRSP. It's convenient. It's painless. And it's as easy as stopping by and filling out a form at any one of our many branches.

With the Advantage of RRSP Loans from Cornerstone Credit Union...

You know it's important to invest in RRSPs but sometimes it's tough to come up with the cash before the deadline for contributions. Cornerstone Credit Union can help with an RRSP loan. We'll show you how the cost of borrowing can actually be offset by your tax savings at year end.

Make Your Money Count...Today and Tomorrow!

Talk to your branch of Cornerstone Credit Union about RRSPs. We'll help you find a way to fit RRSP contributions into your current financial plan, so you can fully enjoy the tax benefits. And we'll show you how RRSPs can give you control over your financial future, so you can enjoy the retirement of your dreams.

Registered Retirement Income Funds (RRIF)

RRIF provides for a maturing option for the RRSP. A secure investment with guaranteed interest. Money invested in a RRIF is tax sheltered until withdrawn, with lump sum withdrawals above regular payments allowed. Members must receive a minimum payment from the fund, which can be paid monthly, quarterly, semi-annually, or annually to their account.

*Note: Credit Union deposits are protected - guaranteed by the Credit Union Deposit Guarantee Corporation. Please check with Cornerstone Credit Union for specific coverage details.

Please e-mail us @ <a href="mailto:RRSP@corners