Savings and Investments

Plan 24 PLUS

A savings account designed for people who want to save and have fluctuating balances with the following features:

• Tiered daily interest paid monthly
• 2 free transactions per month
• Funds may be withdrawn at any time
• Free access to MemberDirect online banking and TeleService telephone banking
• Access to MemberCARD debit card through any ATM or Point of Sale network

CU Save Premium Investment Account

A high interest savings account designed for those who want to save money while still having full access to their funds. The CU Save account also features:

• Daily interest, paid monthly
• Interest is cumulative on total balance
• 1 free debit per month (electronic or in branch; transfer or withdrawal)
• All debits $5 each thereafter
• No chequing; no ATM; no bill payments; no O/D sweeping; may not be overdrawn
• Free access to MemberDirect online banking and TeleService telephone banking

Spectra Credit Union offers secure, worry free investments to meet all of your financial needs. We offer:

• Competitive rates
• Variable term lengths
• Redeemable and non–redeemable options available
• Principle and interest is guaranteed.

A minimum deposit of $1000 for investments over one year or $4000 for investments under one year is required. Youth may invest as little as $100.

Spectra Select

The Spectra Select non-redeemable term deposit is designed to give you an extra amount of flexibility.  The 3 Year Special is redeemable or may be re-invested, each year on its anniversary date.  The 5 Year Special may be re-invested any year on its anniversary date into a 5 year non-redeemable term.  For more information about this specialty product, contact our Investment Service Specialists at (306)636-7700 or 1-800-863-1312.

Canada and Saskatchewan Savings Bonds

May be purchased through our branches, and are government guaranteed.

What is an Index-Linked Investment?

Index-Linked investments are tied to the average monthly performance of a stock index, such as S&P 500 Index®. The investment stays at Spectra Credit Union, which means your principal is guaranteed. So even if the index doesn't perform well before its maturity, you'll still get your principal back in full! If the index does perform well, you'll receive an interest payment at the investment's maturity date.

American Market™

Large companies are often less volatile than smaller companies and have the potential to provide a more stable return. The American Market™ Index-Linked Term Deposit is an investment where you can take advantage of the stability of large American companies. It uses the Standard & Poor's 500 Index.

Global Market™

The Global Market™ Index- Linked Term Deposit pays a return based on the average monthly performance of foreign stock markets. It uses the Standard & Poor's 500 Index, the Dow Jones Euro Stoxx 50, and the Nikkei 225.

MarketFlex™

The MarketFlex™ Index-Linked Term Deposit pays a return based on the average monthly performance of leading Canadian companies. It uses the Standard & Poor's/TSX 60 Index.

Prairies Basket™

The Prairies Basket™ Equity-Linked Term Deposit pays a return based on the average monthly performance of a basket of prairie industry stocks and it is RRSP eligible. It uses the following companies from the Toronto Stock Exchange:

• EnCana Corp (eca)
• Manitoba Telecom Services Inc (mbt)
• Petro-Canada (pca)
• Enbridge Inc (enb)
• Potash Corp of Saskatchewan (pot)
• Great-West Lifeco Inc. (gwo)
• Investors Group Inc (igm)
• Cameco Corp (cco)
• Nova Chemicals Corp (ncx)
• Westjet Airlines (wja)
• Canwest Global Communications Corp (cgs)
• IPSCO Inc (ips)

A Registered Retirement Savings Plan is a federal government approved plan in which the depositor can save for retirement. Contributions are made within the predefined limits and the income earned on RRSP deposits is tax sheltered until the funds are withdrawn. The purchase of an RRSP investment allows the individual to claim a tax deduction for the amount of the annual contribution, thus reducing the amount of one’s overall taxable income.

Defer tax and start planning for tomorrows dreams

• Variable and fixed rate plans
• Monthly, bi–weekly and annual deposit plans available
• Interest and principle guaranteed
• Maintained absolutely free of charge

CU Bonus Builder

The CU Bonus Builder is a five year non–redeemable term deposit that is RRSP eligible. Each year of the term has its own interest rate which increases every year, however, the interest rates in effect at time of purchase are guaranteed for the full five years. Upon maturity, the deposit will be automatically renewed for another five year fixed deposit with the conditions in effect at the time of renewal unless otherwise specified by the member.

Index Linked Term Deposit

Index Linked products are a new method of investing that gives you the potential to higher than normal returns than conventional GIC’s. You also have the security of retaining your principal no matter what happens and there is no limit to your potential return. Funds stay on deposit with the credit union and provincial deposit guarantee applies.

Registered CUSave Account

The registered CUSave account is a premium variable rate account. Rates are tiered with no minimum balance. Interest is calculated daily and paid monthly. The interest rate is variable and will be comparable to the current money market rate.

RRSP Loans are available with rates as low as prime.

Registered Retirement Income Fund (RRIF)

In the year that you turn 71 you are required to turn over your RRSPs into a Retirement Income Fund before December 31st of that year. With a RRIF, you can convert your RRSP savings into a vehicle to provide regular income while continuing to maintain maximum control over your tax–sheltered retirement investments. The flexibility of a Spectra Credit Union RRIF makes this an ideal investment and all services are provided free of charge.

We also have a variety of Retirement Income Fund options including:

• Registered Retirement Income Funds (RRIF)
• Life Income Funds (LIF)
• Annuities
• Locked in Retirement Income Funds (LRIF)

Talk to one of our financial service reps or our financial planners to decide which option would suit your needs.

Looking for a way to save for your children’s education?

We have government approved plans to assist you in saving for your children’s education. Income earned within the plan is tax–sheltered until it is withdrawn. In addition, the Canada Education Savings Grant, a Government of Canada program, allows eligible RESP beneficiaries to receive grant monies based on the annual contributions paid into the plan.

Once a student is enrolled in a post–secondary institution, payments may be drawn from the RESP for education related expenses and are taxable to the beneficiary.

Planning today for tomorrow is the smart way to realize your family’s education goals.

Through our partnership with Credential Asset Management Inc., mutual funds* can offer you the advantages of diversification and professional management.  There are no guarantees against market volatility, but having a basket of assets in your portfolio will help weather those ups and downs.  Diversification means investing in a variety of investments - as in, "don't put all your eggs in one basket".  With mutual funds, you can do this by spreading your investment money across several asset types, or by diversifying within a specific asset category.

About Credential Asset Management Inc.

Spectra Credit Union is committed to providing our members with investment options suited to their individual needs. Today, more and more people are turning to mutual funds as a way to save for a secure financial future.

Credential Asset Management Inc. is a mutual fund dealer offering credit union members a full selection of mutual funds.

Credential Asset Management is part of Credential Financial Inc., the national wealth management provider founded by the Canadian credit union system. Credential Asset Management has relationships with over 380 credit unions throughout Canada, and more than 2,700 representatives.

The Credential Asset Management Mutual Funds Investment Specialist at Spectra Credit Union can provide you with the opportunity to purchase top quality mutual funds with names you'll recognize:

AIM Trimark

AGF

AIC

C.I.

Credential Select Portfolio Funds

Ethical Funds^®

Fidelity

Franklin Templeton

Mackenzie

With more than 4,000 mutual funds available to Canadian investors, it's not easy separating the winners from the underperformers. That's why a team of investment analysts at Credential^® have developed a proprietary selection process to assess these funds for you. The resulting Credential Platinum List of 40 best funds have been selected for their potential to outperform their peers over the long run. When you buy any of the Credential Platinum List Funds, you can invest with confidence.

Start building your investment portfolio with top quality funds available through Credential Asset Management. Stop by and speak with a Credential Asset Management Mutual Funds Investment Specialist today.
 

*Mutual Funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.  Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Ethical Funds^® are available only to Canadian residents.  ^®Credential is a registered mark owned by Credential Financial Inc. and is used under licence. ^®Ethical Funds is a registered mark owned by Ethical Funds Inc. and is used under licence.