GICs

Guaranteed Investment Certificates (GIC) carry higher interest rates than premium savings balances and may be purchased for terms of 1 to 5 years. Withdrawals or redemptions are not permitted prior to maturity. GICs may be held directly or as part of a registered plan, for example in an RRSP or TFSA.

The minimum deposit is $500 or $100 if the member is under 21 years of age.

As an Ontario Credit Union, we are regulated by The Deposit Insurance Corporation of Ontario (DICO). DICO also insures your deposits in Ontario credit unions. All deposits held in non-registered accounts in Canadian currency payable in Canda are covered up to $250,000. Insurable deposits held in registered accounts have unlimited coverage.

 

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