Accounts
Investments
Investment Services
Northwest and Ethical Investments L.P.
Tax-Free Savings Accounts
RESP
RRSP
Online RRSP Application
RRIF
Term Deposits
Credential Asset Management Inc.
Loans


 

RRIF

Registered Retirement Income Fund

In the calendar year that you turn 71 years of age you MUST convert your RRSPs to RRIFs. A RRIF is a tax-sheltered investment designed to provide retirement income. A RRIF allows you to take control of your investment. You have the choice of flexible payment options for no fee and the amount of payment is up to you. (There is an annual minimum payment required and all withdrawals above the minimum are subject to withholding tax.) Westoba Credit union has a variety of term lengths and products available for your RRIFs.

Choose from a Variable Rate plan or a Fixed Term Plan.

Variable Rate:

  • Interest calculated on daily closing balance
  • Open term; no penalties for withdrawal

Fixed Rate:

  • Terms from 12 months to 60 months
  • Relationship Pricing (bonus interest) available
  • Interest compounded annually
  • Competitive rates

All deposits with the Westoba Credit Union are fully guaranteed by the Credit Union Deposit Guarantee Corporation.