- A minimum deposit of $500 is required ($100 minimum deposit for YouthSavers or trust accounts).
- 1 - 5 Year Term Deposits are non-redeemable.
- Interest will be paid annually to your deposit account of choice.
- Additional interest payment options are available to suit your budget upon request - semi-annual (.125% less) and monthly (minimum $5,000 deposit, .25% less).
- If you prefer to reinvest the interest earned on your deposit rather than take the payment, interest can automatically compound annually.
- It's easy to keep track - your regular statement of account indicates your principal investment, the interest rate, term, maturity date and date of next interest payment. Details are also accessible at anytime through online banking.
Earn a higher return on your savings
Tandia is pleased to offer members a wide range of market-competitive fixed rate GICs (Guaranteed Investment Certificates) with terms from 30 days to 5 years. Some fixed rate term deposits are eligible to be held in registered plans, depending on the term selected. Interest is guaranteed for the term and at maturity the deposit is reinvested into a similar term unless otherwise instructed by the member.
LONG TERM DEPOSITS - 1 TO 5 YEAR
CASHABLE TERM DEPOSIT - 1 YEAR
- A minimum deposit of $500 is required ($100 minimum for YouthSavers trust accounts).
- Monthly interest payments (at .25% less) are available for minimum deposits of $5,000.
Cashable as follows:
- 0 - 90 days – no interest paid.
- 91 - 364 days - No penalty; interest will be paid for the number of days on deposit at the full interest rate in effect on the date of the deposit. At maturity, it will renew once again as a cashable one year term deposit.
PAY DAY TERM DEPOSITS
It makes good dollars and sense to set up a payroll deduction or automatic transfer to deposit into a PayDay Term Deposit that allows you to systematically build your savings over time. Many members enjoy the convenience of painlessly saving by having a set amount deducted right from their pay cheque. They also appreciate the discipline of a term deposit product with minimal (but some) restrictions on access.
Features
- Minimum $1,000 commitment (savings goal)1 year term
- Purchase of the term deposit is paid for through payroll deduction/AFT or automatic funds transfer from a Tandia account
- Interest is calculated on the daily balance and paid at maturity
- Cashable any time after 90 days with full interest
- At maturity, your PayDay Term Deposit will rollover to a Cashable 1 Year Term Deposit.
Round up and save
A nice complement to a PayDay Savings Program is Round Up and Save – linked to your Tandia debit card, all of your purchases using debit will be rounded up to the nearest dollar and deposited into a Tiered Interest Savings Account. Why not save as much as you can without feeling the pinch?
Get started now
The process is easy. Choose a goal of how much you’d like to save over a one year period (minimum $1,000) and then divide it by the number of pays you have for that time frame. Call us with this PayDay savings amount and the date you’d like to start and then, watch it grow!
SHORT TERM DEPOSITS - 30 TO 364 DAYS
- A minimum deposit of $1,000 is required and it is non-redeemable.
- Short Term Deposits are non-redeemable.
INDEX LINKED TERM DEPOSITS
About our Index Linked Term Deposits
An Index Linked Term Deposit presents a safe way to participate in Canadian Equity markets, with a return based on the average growth of the major market indices. Your principal is guaranteed, yet you can benefit from the potential for a higher return.
Features
- Minimum $500, non-redeemable
- No commissions, management or administration fees
- Index Linked Term Deposits are RRSP and TFSA eligible
- At Tandia Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority
- Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA)
STEP TERM DEPOSITS
About our Step Term Deposit
A Step Term Deposit is an excellent investment alternative in times of low interest rates, as you are assured that each year your interest will increase. As with all our term deposits, the principal and return is guaranteed and it qualifies for deposit insurance protection.
Premium 3-Year Term Deposit
- Minimum $1,000 investment
- 3 year term with rates that increase each year
- Non-redeemable
- Convertible to 4 or 5 year term anytime
- RRSP, RRIF and TFSA eligible
5-Year Step Term Deposit
- Minimum $1,000 investment
- 5 year term with rates that increase each year
- Fully or partially cashable on each anniversary date (some conditions apply)
- RRSP, RRIF and TFSA eligible
At Tandia Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA) Learn More.
Saving is Financial Self-Care:
Invest in a GIC
In a time when the world feels uncertain and more complicated than ever, self-care and finding balance should be a goal for everyone. When it comes to saving for the future, and putting money aside for a rainy day, it can be difficult to know where to start. It doesn’t have to be complicated however, and sometimes taking the first step simply means learning a bit more about the savings tools available to you – and this includes Guaranteed Investment Certificates (GICs).
RRSPs: Your Ticket to the Retirement
of Your Dreams
Each day that goes by we all creep a little closer to retirement, and no matter how far away it may seem now, you’re certain to get there faster than you think! You deserve to feel good about your retirement savings goals, and a Registered Retirement Savings Plan (RRSP) can help get you there. Introduced in 1957 to help promote savings by employees and self-employed people, the Government’s RRSP program is a helpful way to save big and keep your future in focus.
TFSAs are for Everyone
(Including You!)
When researching the various savings vehicles available in the marketplace, the dizzying number of options available can leave your head spinning. You may be surprised to learn that saving can truly be as easy as 1-2-3, especially with a helpful savings tool known as a Tax-Free Savings Account (TFSA). If you’ve heard of this term (and even if you haven’t), you may have been given the impression that TFSAs are only for specific life stages or goals – but this typically isn’t the case!
What is a GIC?
Guaranteed Investment Certificates (GIC's) and term deposits are secured investments. This means that you get back the amount you invest at the end of your term. The key difference between a GIC and a term deposit is the length of the term. Term deposits generally have shorter terms than GIC's.
How do I open a GIC?
Opening a GIC is easy with Tandia! Make an appointment to meet with us by phone, online or in person, or you can open online. We’d love to help you get started.
Can I open a GIC online?
With Tandia, yes you can! To get started and open a GIC, visit HERE.
What if I need my money before my GIC matures?
With cashable or redeemable GICs you can take out your cash early, before the maturity date, without paying a penalty. Non-redeemable GICs often offer a greater return, but do incur a penalty if funds are withdrawn before the maturity date.
Is a GIC the right choice for me?
A GIC, or Guaranteed Investment Certificate, is a great choice for adults of any age who want a low risk, secure investment vehicle for their hard-earned savings. Peace of mind is a wonderful thing – know what to expect, and what you’ll receive at the end of your investment term and feel good about saving for the future.
Are GIC's safe places to put your money?
Yes, GIC's are considered to be extremely safe. They are classified as low risk investments. GIC's often payout less amounts than other types of investments. However this is quickly changing with interest rates on the rise. Having a GIC provides you the ability to earn a decent return over a relatively short period of time without any risk of losing your money.
Can I hold GICs in a registered plan?
Yes, you can! A GIC can be held in a variety of registered investment plan types, such as RRSPs, TFSAs and FHSAs. This provides you with an opportunity to earn in a way that suits your life and goals.
Who should open a GIC?
A GIC is great option for anyone who wants safety and stability, and a reliable return on their hard-earned investment. At any stage in your adult life, earn more interest to help with your savings goals – like saving up for a vacation, vehicle or home renovation – and make your dreams a reality faster. It’s easy to get started, reach out to us today.
Get started now!
Contact us or call our Member Solutions Centre at
1-800-598-2891 to arrange your investment today.
Welcome to Tandia
At Tandia, we believe that financial institutions should be accountable to the people they serve. We believe that there’s more than one way to measure success. We believe that our profits should have a positive financial, social and environmental impact on communities.
We understand that everyone is different, and we work hard to tailor solutions that are right for you.
Save and Invest
At Tandia we have a range of investment products that can help you reach your financial goals. We have a full complement of traditional investment products that can be held within or outside of a registered plan.
No matter what stage of life you are in or how much money you have to invest - we are here to work with you and help your savings grow.
Wealth Advice
Whether you’re saving for the future, preparing to buy your first home, or planning and protecting your estate. Tandia's suite of Wealth Service options can help you build a portfolio that’s tailored to your unique financial goals.
We are here for you
Get in touch with us at any time, whether it’s a question about our services or a comment on how we can do things better. Your voice is number one at Tandia.
To report a lost or stolen MEMBER CARD® debit card during regular business hours, call 1-800-598-2891 after hours please call 1-888-277-1043.
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