Term Deposits

When you have specific savings goals in mind, there is nothing more satisfying than watching your hard-earned money grow in a secure environment.  Secure and reliable, a term deposit is simply money deposited for a fixed period of time, earning you a fixed rate of interest.  Generally, term deposits pay a higher rate of interest than savings accounts and the longer the term the higher the rate. 

Features and benefits of our term deposits include:

  • Shorter term deposits available from 30 - 364 days
  • Longer term deposits available from 1 - 5 years
  • Interest rates are guaranteed for the length of the term
  • Available as redeemable and non-redeemable deposits, in the case of the former, funds may be withdrawn before maturity, but at a lower rate of interest
  • Minimum deposit requirements vary according to the type of the term
  • Interest may be paid monthly, quarterly, annually or on maturity of the deposit
  • Term Deposits can be used as security for a low interest rate loan
  • There are no trustee fees or administration costs
  • Your deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation (CUDIC)

Term deposits provide considerable flexibility when it comes to investment options.  They can be an ideal place to "park" funds until you have decided what to do with them, or can be used as an "assured income" section in your portfolio.  Many people purchase term deposits on a "staggered" or "laddered" basis in order to balance out their portfolio and remove some of the interest rate risk.

Come in and see one of our friendly and knowledgeable member service representatives to help you find the best term of your needs or complete our online application.

View current term deposit rates and products

How interest is calculated can greatly affect your savings.  Try the compound interest calculator to see how compounding your interest can really add up.