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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 2024 is $7,000 


​​Enjoy the benefits of a TFSA

  • ​​Any individual that is a resident of Canada who has a valid SIN and who is 18 years of age or older is eligible to open a TFSA.

  • Grow your money – Because your TFSA is tax-free, your earnings will be tax sheltered.

  • 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.

  • You can invest from a one to a five year term to earn a better return. 

  • At RCU Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).


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

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​​Whether you're saving for retirement, a new car or a dream vacation, our experienced team will tailor their advice to help you maximize your savings to get there.


​​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.