Investments

We’re all saving for something, whether that’s your dream vacation or your child’s future education.

No matter what your goal is, we can help by breaking it down and providing a personalized approach to your investing plans. From beginners to experienced investors, we offer a broad range of products to help you reach your short or long term savings goals. Best of all, all of our investment options are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.

Already know what you need? You can open term deposits, RRSPs and TFSAs online.

Click to open online application process.

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Make the most of your tax return with the right savings vehicle for your goals. TFSAs and RRSPs both offer tax breaks, but how and when you’ll receive them differs. Here’s a brief look at how each one will affect your taxes in the long run.

RRSP contributions are tax-deductible. You deduct your contributions from the income you report on your tax return, meaning you’ll get the benefits of a deduction every year you contribute to your RRSP. Each contribution is made in pre-tax dollars, so you’re deferring paying taxes until you start to withdraw, which is advantageous if your marginal tax rate will be lower in retirement.

With a TFSA, you can’t deduct your contributions from the taxable income you report, but any withdrawals and interest earned will be tax-free. You already paid the tax on your contributions, which is an advantage if your marginal tax rate is the same or higher when you withdraw.

If your savings goals are short-term, a TFSA offers more flexibility. There are no penalties or withdrawal guidelines, income requirements, or timelines like RRSPs, which must be closed and converted to RRIFs by December 31st of the year you turn 71.

Don’t forget to make the most of your RRSP deductions this year – make sure you know the Important RRSP Dates and Information to file on time!

 

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