Cornerstone Credit Union

RETIREMENT SERVICES

Registered Retirement Savings Plans (RRSPs)

"Taking Control of Your Future" Having the Best of Both Worlds.....Today!
An RRSP is an investment in your future, with benefits you can enjoy today. By contributing to an RRSP, you can take advantage of substantial tax savings now, and enjoy peace of mind knowing that you will have a secure retirement. Plus, your RRSP dollars are completely tax sheltered as long as they remain in the fund. Only RRSPs work as hard for you in the present as they will in the future.

Committing to a Successful Future...

Whether you're starting your first job, just starting a family, or finally hitting your peak financial earning years, RRSPs play an important role in your long term financial plan. No matter what stage of life you are in, your Credit Union can help make the most of your allowable RRSP contributions.

1. Variable Rate RRSP

This type of RRSP ensures that your investment keeps pace with the current interest trends. Interest rates are reviewed and adjusted regularly so you benefit from the most competitive rate.

2. Fixed Rate RRSP

A Fixed Rate RRSP provides the security of knowing your rate of return is guaranteed for a fixed period of time. You can choose the term that best suits your plans.

3. Mutual Funds

There are thousands of mutual funds you can choose for your RRSP. But if you want your money to be invested responsibly – both socially and environmentally – there’s only one clear choice. Ethical Funds® (important legal information) is Canada’s most comprehensive family of socially responsible mutual funds. Our family of 19 funds gives you a range of domestic and foreign investment options, so you can build a portfolio suited to your goals. You can even increase your global diversification beyond the foreign content limit with our two 100% RRSP eligible foreign funds. Ethical Funds® also offer RESP, group RRSP (for our business clients) and Pre-authorized Chequing (PAC) regular investment options.

4. The World of Mutual Funds

Through Credential Asset Management, credit union members have access to hundreds of the top performing mutual funds available today.

5. Self-Directed RRSPs

Through our partnership with Credential Financial Strategies and Credential Securities®, credit union members are able to arrange an almost unlimited number of investment options under the umbrella of a self-directed RRSP.

With the Convenience of Monthly Deposits...

Maximize your money by depositing your RRSP contributions monthly. The interest earned is compounded, which means you'll be earning interest on interest!
In the long run this can have a dramatic effect on your investments.

Example:

Annual Contribution* of $1,200.00 is worth $133,940.00 after 30 years.
Monthly Contributions* of $100.00 is worth $140,855 after 30 years.
A difference of $6,915.00.

* Assuming investment made at the end of the month for monthly contributions and at the end of the year for annual contributions. Contributions compounded annually over 30 years at an Interest Rate of 8%.

You can deposit a lump sum at the end of each year, but if you deposit the same amount by making 12 monthly payments, you'll actually be farther ahead! Your Credit Union can help you benefit from the monthly deposit advantage, by automatically transferring funds from your account to an RRSP. It's convenient. It's painless. And it's as easy as stopping by and filling out a form at any one of our many branches.

The Advantage of RRSP Loans from Your Credit Union...

You know it's important to invest in RRSPs but sometimes it's tough to come up with the cash before the deadline for contributions. Your Credit Union can help with an RRSP loan. We'll show you how the cost of borrowing can actually be offset by your tax savings at year end.

Make Your Money Count...Today and Tomorrow!

Talk to your Credit Union about RRSPs. We'll help you find a way to fit RRSP contributions into your current financial plan, so you can fully enjoy the tax benefits. And we'll show you how RRSPs can give you control over your financial future, so you can enjoy the retirement of your dreams.

Registered Retirement Income Funds (RRIF)

RRIF provides for a maturing option for the RRSP. A secure investment with guaranteed interest. Money invested in a RRIF is tax sheltered until withdrawn, with lump sum withdrawals above regular payments allowed. Members must receive a minimum annual payment from the fund, which can be paid monthly, quarterly, semi-annually, or annually to their account.

*Note: Credit Union deposits are protected - guaranteed by the Credit Union Deposit Guarantee Corporation . Please check with the Yorkton Credit Union for specific coverage details.

Please e-mail us @ RRSP@cornerstone.cu.sk.ca for any inquires.

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® Ethical Funds® is a registered mark owned by Ethical Funds® Inc. and is used under licence.

Mutual funds are offered through Credential Securities 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 insured not guaranteed, their values change frequently and past performance may not be repeated. ® Ethical Funds and Credential & Design are registered marks owned by Ethical Funds Inc. and are used under license.
Credential Financial Strategies Inc. is a member company under Credential Financial Inc. offering financial planning, life insurance and investments to members of credit unions and their communities. Credential is a registered mark owned by Credential Financial Inc. and is used under license. 05/05
Ethical Funds are sold in all provinces and territories across Canada.