OSOYOOS Credit Union

Retirement Plans

Canadians can contribute to a variety of retirement plans while deducting the amount of the contribution from their taxable income. This tax advantage, combined with the protected income earned within the plan, makes an RRSP a popular investment option. Osoyoos Credit Union offers a full range of Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs).

RRSP (Registered Retirement Savings Plans)

A Registered Retirement Savings Plan is a government-approved plan through which you save money for your retirement years. Your contributions are tax deductible, and the income earned is tax sheltered. You are investing money when you can most afford it - during your peak earning years - to build up a comfortable retirement fund. Features of an RRSP with Osoyoos Credit Union include local administration, instant withdrawals, instant tax receipts, investment options and keeping your money in our = community. Making regular monthly deposits will make it easy to save for your future. We offer a wide variety of products to choose from.


RRSP Eighteen Month Term (18 Month)

A term deposit that allows the member to earn a higher rate of interest and have the ability to redeem the term on the annuitant’s birth date or the anniversary date of the term. This term is available as a RRIF and LIF. (Life Income Fund)


Members Choice RSP Term (Non-Redeemable)

This product offers the option of 3, 4 or 5 year terms. The three year term offers the ability to adjust the rate once during the life of the term. The four and five year terms offer the ability to adjust the rate twice during the life of the term. Available as a RRIF or LIF product.


RRIF (Registered Retirement Income Fund)

A Registered Retirement Income Fund lets you withdraw income during your retirement years. It’s an investment vehicle which provides income from savings accumulated in a Registered Retirement Savings Plan (RRSP). Only the actual income taken in any year is taxable in that year, while the capital remaining in the fund is still tax deferred.