Solutions: Account and Investment Options

So you are looking to invest! Great, you've come to the right place; let's have look at your options!  When you are looking to invest, two important considerations are account type and investment choice.  Not sure? Don't worry; we have a team of Wealth Management Specialists that will walk you through the investment process to build an investment strategy that will achieve your goals and objectives!

Account Options Expand/Collapse

Accounts can be set up in a number of different ways, each with its own purpose, benefits, rules and tax treatments. For each account type, you can choose to invest your funds in a wide variety of investment vehicles, such as term deposits, savings accounts, or mutual funds*. Here are some of the common account types we offer.

Account Option

Description

AgriInvest

AgriInvest is a savings account with matching government contributions, designed to help producers and agribusiness manage risk and income declines.

Locked In Retirement Account (LIRA)

A LIRA is an investment account that allows your money (locked-in pension benefits) to keep growing and collecting interest on a tax-deferred basis until you retire.

Non-Registered Investment Accounts

While there are no special tax incentives for saving money outside a government sponsored plan, choosing to save in a non-registered savings account offers great flexibility and investment choices.

Registered Education Savings Plan (RESP) 

An RESP helps you save tax-free for your child's post-secondary education, plus, the government will give you extra help on eligible contributions through grants and bonds. And who couldn't use some free money? 

Registered Retirement Income Fund (RRIF) 

When you are ready to convert your RSP savings into an income stream, a RRIF may be the answer for you. A RRIF is a comfortable transition from your RSP because like an RRSP; you maintain the same high level of control over your investments and the benefit of tax-deferred growth.  

Registered Retirement Savings Plan (RRSP)

An RRSP, or Registered Retirement Savings Plan, is a government approved plan designed to help you save money for your retirement years.

Tax-Free Savings Account (TFSA)

A TFSA allows you to save for any goal you want and your savings to grow faster because you don't pay tax on your earnings! Plus, you can withdraw your money for any reason, at any time - tax free!

Trust Account

A trust account is an option to save for your child's (or grandchild's) future. You have complete control of the funds; you can manage those investments until ownership transfers to your beneficiary. And there are no restrictions around how the child uses that money - they can use the funds to go to school, to start up their own business or to purchase their first home.

Investment Options Expand/Collapse

Once you decide which account option best fits your individual situation, investment choice is your next consideration.  Finding the right investment mix to suit your risk tolerance and investment objectives, a mix that just feels right, can be daunting.  But don't worry; the Investment Specialists at Weyburn Credit Union are here to help find the right solution, centered around you. Investment choices at Weyburn Credit Union include:

Investment Type

Description

Savings Accounts

Members typically use savings accounts for short term investments, emergency funds or to save funds they will likely need access to.  Savings accounts are convenient and flexible, your funds are never locked in.

Term Deposits

Term deposits are often referred to as Guaranteed Investment Certificates (GICs).  The first word that should come to mind when you think of GICs is guaranteed - you invest a sum of money for a specified period of time and earn a guaranteed rate of interest.  GICs are a great choice for those investors who have funds they won't need access to for the term of the investment and don't want to put their principle or interest at risk in hopes of earning a higher return.

Index-Linked Term Deposits

Index/Equity-Linked Term Deposits blend a guaranteed investment product with the capacity to generate market-like returns. Index Linked GICs provide the potential to participate in some equity or market exposure with the comfort of knowing there is no risk to your principal.

Mutual Funds*

Simply put, a mutual fund pools money from a group of like-minded investors to invest in a portfolio of stocks, bonds or other securities that is managed by experts.  Investors will typically choose mutual funds* in hopes of earning a higher rate of return than GICs.

Stocks, Bonds and other Investments*

Full service brokerage means you have access to a full range of investment solutions, including stocks, bonds and mutual funds with advice from investment professionals.
 

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