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​​Reach your goals​ faster with a TFSA

A Tax-Free Savings Account (TFSA) will help you save money for short and long-term goals. Because it’s tax-free, you pay no taxes on the interest or investment income earned.

The contribution room for 2020 is $6,000.

Introducing the Early Bird TFSA

Earn 2.25% interest until December 31st, 2020

You work hard, your money should too

Here's how it works: 

  • Make your 2021 deposit already this year, and earn 2.25% interest until December 31st, 2020 
  • The earlier you contribute, the more interest you earn 
  • Your money sits in a short-term GIC until January 1st, at which point it's moved into your TFSA and counted towards your 2021 contribution 
  • Can contribute up to $10,000, new funds only 
  • Must have an existing NBCU TFSA contract, or be able to open one up
Ready to make your contribution? Contact us in-branch today to get started or email us at info@northernbirchcu.com and someone will get back to you!

Enjoy the benefits of a TFSA

  • Grow your money – Because your TFSA is tax-free, your earnings will be tax sheltered.
  • No age limit – Unlike the RRSP, you can contribute to your TFSA for as long as you’d like.
  • Use it for short and long-term goals – You don’t have to repay a TFSA withdrawal.
  • Carry over withdrawals – Any withdrawal you make adds extra contribution room the following year.
  • Carry over unused room – Couldn't contribute this year? Carry forward the unused room to future years.
  • It can hold a number of investments – Term deposits, mutual funds, stocks and bonds included.

What we offer:

  • High interest savings - withdraw at any time and make saving easy by setting up scheduled automatic transfers into your TFSA.
  • Term Deposits - you can invest your money for a term of 1 - 5 years.
  • Invest in mutual funds* through our partner Credential Asset Management Inc. or use our online brokerage* partner Qtrade Investor.

Things to remember: 

  • Total contribution limits from the introduction of TFSAs in 2009 through 2020 should not exceed $69,500.
  • TFSAs are separately insured for their full amount by the Financial Services Regulatory Authority (FSRA). 
  •  Eligible for Canadians, 18 years old or older.


​Ready to put the power of investing to work for you?

*Mutual funds are offered through Credential Asset Management Inc. Online brokerage services are offered through Qtrade Investor, a division of Credential Qtrade Securities Inc.

Need a hand?

Whether you're saving for retirement, a new car or a dream vacation, let us help you maximize your savings.

​How much will I save?

Our TFSA Calculator will help you figure out how much you could save for your life goals when you invest in a Tax-Free Savings Account.