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Move your TFSA or RRSP to YNCU and earn guaranteed returns.
Your savings deserve steady, predictable growth — not uncertainty. Unlock 3.35% on a 1-year GIC or 3.55% on a 3-year GIC when you invest with YNCU.
When you transfer $15,000 or more, we’ll cover up to $150 in transfer-in fees, making it easier to make the switch.
Don’t wait to lock in a great GIC rate.
Your future deserves a plan that works for you, backed by a financial partner that genuinely cares about your goals. Fill out the short form below or give us a call 1-888-296-9965 to get started.
Helping serve our members since 1950
While it sounds cliché, here at YNCU, our members come first. As a credit union, we don’t have the stock pressures of big banks, so we can prioritize your financial well-being over profit.
Why choose YNCU?
Given the economic uncertainty we’re facing in this country, our job is to make you feel confident about your future. We’ll help you earn, save, and protect your money. We also help the local communities where we do business, because we know the financial health and security of our customers and members require investments at both individual and collective levels.
Frequently Asked Questions
What is an RRSP?
A Registered Retirement Savings Plan (RRSP) is a government-registered account that helps Canadians save for retirement. Contributions are tax-deductible, and investments inside an RRSP grow tax-deferred until withdrawal. This allows your retirement savings to grow more efficiently over time.
How does a GIC held in an RRSP work?
A GIC held in an RRSP works by letting your money earn a guaranteed interest rate while staying tax-sheltered until you retire. You choose a GIC term (such as 1 or 3 years), and your principal earns a fixed rate for that period. When the GIC matures, you can reinvest it, choose a new term, or reallocate the funds within your RRSP.
How does an RRSP work?
An RRSP allows you to contribute money each year (up to your annual RRSP contribution limit), deduct those contributions from your taxable income, and grow your investments tax deferred. You only pay tax when you withdraw the money, usually in retirement when your income (and tax bracket) may be lower.
Can I transfer my RRSP to YNCU?
Yes. You can transfer your existing RRSP from another financial institution to YNCU at any time. The process is simple, and our team can help ensure your registered savings continue to grow without disruption. For a limited time, YNCU will cover up to $150 in transfer-in fees** on qualifying investments of $15,000 or more. This helps you move your retirement savings without added costs and allows you to take advantage of our competitive RRSP GIC rates.
How much can I contribute to my RRSP?
Your RRSP contribution limit for the year is based on 18% of your previous year’s earned income, up to the CRA’s annual maximum. You can also use any unused contribution room from previous years. You can find your exact contribution limit on your CRA MyAccount or your Notice of Assessment.
When is the RRSP contribution deadline for 2025?
You have until March 2, 2026 to make RRSP contributions that count toward your 2025 taxes. Contributions made by this date can be applied to the previous year’s tax return, allowing you to reduce your taxable income and potentially increase your tax refund.
What happens if I withdraw money from my RRSP early?
Withdrawals made before retirement are typically considered taxable income, and most financial institutions must withhold a portion for taxes at the time of withdrawal. Early withdrawals also permanently reduce your RRSP contribution room. Programs like the Home Buyers’ Plan (HBP) and Lifelong Learning Plan (LLP) allow certain penalty-free RRSP withdrawals with conditions.
Is my RRSP insured or protected?
Investments held at YNCU are insured by the Financial Services Regulatory Authority of Ontario (FSRA) up to applicable limits. Eligible deposits in registered accounts have unlimited coverage and eligible deposits in non-registered accounts are insured up to $250,000.
When should I start contributing to my RRSP?
You can start contributing as soon as you have employment income and contribution room. Starting earlier allows your retirement savings to benefit from decades of tax-deferred growth, also referred to as compound interest, making it one of the most effective long-term financial strategies for Canadians.
How long should I invest in an RRSP GIC?
Your ideal RRSP GIC term depends on your retirement timeline and comfort level with fixed-rate commitments. A 1-year GIC is great for flexibility, while a 3-year GIC may offer higher returns. Many Canadians ladder terms for balanced access and growth.
Lock in a great rate with YNCU.
Your future deserves a plan that works for you, backed by a financial partner that genuinely cares about your goals.
