East Coast Credit Union is now offering you more ways to save on your taxes. For many years you have been able to use your RRSP contributions to save on your taxes and starting January 1, 2009 you can also use a Tax-Free Savings Account (TFSA) to earn investment income tax free.

A Registered Retirement Savings Plan (RRSP) is a Federal Government approved means of savings for retirement. An RRSP will help shelter your money during your income earning years, until a time in your life when you are taxed less. Contributions can be made for specific amounts and you can choose a fixed rate from 1 to 5 years, with interest compounded and paid annually, or a variable rate RRSP. You can enjoy a flexible plan that can adapt to your changing circumstances, as well as sound advice from our Investment Professionals to choose the options that are best for you.

 

For more information on RRSPs, review the RRSP section of our website or visit any one of our 13 branch locations.

The Federal Govenment has introduced a new registered savings account that allows taxpayers to earn investment income tax-free. The Tax-Free Savings Account (TFSA) is available beginning in 2009 to Canadian Residents age 18 or older. TFSA allows taxpayers to set money aside in eligible investment vehicles and watch those savings grow tax-free throughout their lifetime.

 

For more information on TFSAs, review the TFSA section of our website or visit any one of our 13 branch locations.