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Term Deposits

A long-term deposit is a good investment option if you are looking to earn more interest on you hard-earned savings. Short and long term deposits are offered from 30 days to 5 years.

Interest is paid on the maturity date for short term deposits and for long term deposits it is paid on an annual basis.

To View GHCU Rates, click here.

Registered Retirement Savings Plan

A Registered Retirement Savings Plan (RRSP) is a savings plan for retirement that is regulated by the Canadian government. Your earnings in an RRSP are tax sheltered and your contributions are tax-deductible.

Golden Horseshoe offers:

  • Flexibility of a variable or fixed plan.
  • No minimum deposit amount is required
  • Contributions through recurring transfers or payroll deductions
  • Guarantee Rate of Interest on Fixed Terms

Not only can you defer payment of income tax until retirement (when you are presumably in a lower tax bracket) but you can contribute to a RRSP and use it to purchase your first home or to go back to school.

To View GHCU Rates, click here.


For more information on the First Time Home Buyer’s Plan, click here and for the Lifelong Learning Plan, click here. 

To learn more about RRSPs, please refer to the Canadian Revenue Agency website.

To set up a payroll deduction into an RRSP, please call or visit a branch. Remember that all deposits in registered savings plans are fully insured by the Deposit Insurance Corporation of Ontario.

Registered Retirement Income Fund

A Registered Retirement Income Fund (RRIF) is a plan where you receive regular payments during retirement so that you have a steady stream of income.

A RRIF is established from the transfer of funds from an RRSP or another RRIF. At the age of 71, all RRSPs must be transferred into an RRIF, Annuity, or Life Income Fund. As a member of the credit union, we can easily roll your RRSPs into a RRIF and establish a payment plan that works for you! 

For more detailed information on RRIFs please refer to the Canada Revenue Agency website.

Tax-Free Savings

A tax-free savings account is a flexible savings vehicle that allows you to save your money and make withdrawals without being taxed.

  • Withdraw from this account at any time
  • Interest earned is tax-free
  • Interest is calculated on the minimum monthly balance and paid semi-annually.
  • Rates in a term are fixed; so they will never go down
  • Option of a short or long-term plan
  • Unused contribution room will carry forward to the following year
  • No service charges to withdraw or deposit
  • Recurring automatic transfers or payroll deduction to your TFSA

Refer to your notice of assessment from the CRA to know your contribution room.

For more information please visit the Government of Canada website.

To View GHCU Rates, click here.

Contribution Limit

  • 2009 – 2012 : $5,000.00
  • 2013 – 2014 : $5,500.00
  • 2015 : $10,000.00
  • 2016 – 2017 : $5,500.00


Tax-Free Term Deposit

Earn more interest by putting your money in a tax-free long term deposit. Like our regular term deposits, we offer short and long term deposits from 90 days to five years.

If you’re ready to start saving for your future or would like to explore investing, please visit our Planning page for details on how we will help you save.

To View GHCU Rates, click here.

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