Planning For The Future...
Registered Education Savings plans (RESP)
A Registered Education Savings 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 Income earned within the plan is not taxed until it is withdrawn.
An East Coast Credit Union Registered Education Savings Plan is the smart way to save for your family's future.
A post-secondary education is critical in an increasingly competitive job market. Each year, fewer high school graduates are in a position to afford to continue their education. With the costs of higher education increasing almost every year, early planning is essential.
It will cost an estimated $112,700 to receive a university education in the year 2018. Compare this amount to:
Investing in an RESP is an important step towards securing your child's future. Your investment can add up even faster with the Canada Education Savings Grant, which adds 20% to your annual RESP contributions up to a maximum of $400 per child per year.
East Coast Credit Union offers a variety of competitive options for RESP investments. You can choose one option or diversify your strategy with a variety of investments. East Coast Credit Union offers convenient monthly deposits, which can make securing your child's future more easily affordable.
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