Whether you’re looking to save for a new car or vacation, or you simply want to put away $25 each pay to build your long-term savings, we have many options to meet your needs. Our Member Service Advisors would be happy to assist you in making the right choice for you.

Registered savings options
Saving accounts
Term Deposits and GICs
Mutual funds *
Index-linked investments

Registered savings options
Investing in registered funds can provide significant tax savings. Check out Are RRSPs Right for You? for more information.

If you’re looking to pay for your child’s university education, you may want to review Saving for your Child’s Education.

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Savings accounts
If you’re planning to save for a short-term goal and you want quick access to your savings, consider one of our many savings accounts. Although there is typically a lower rate of return than with GIC’s or mutual funds, access to your savings is easy.

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Term Deposits and GICs
Another option is to invest in a Term Deposit or Guaranteed Investment Certificate (GIC). Your money is locked in to an investment from 30 days to five years depending on the term you choose. Although there is typically a higher rate of return than with a straight savings account, it’s not quite as quick and easy to access your funds (depending on the term you choose). With Term Deposits and GIC’s, both your principal and interest are guaranteed. Minimum deposits may be required.

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Mutual funds *
If you’re willing to take a higher risk with your savings for the potential to earn a higher rate of return, you may want to consider mutual funds. All OPPA  Credit Union Member Service Advisors are registered as Mutual Funds Investment Specialists through Credential Asset Management Inc.

With mutual funds, many people pool their money together to benefit from professional investment management, low costs and safety through the diversification of risks. Each fund has a defined objective that dictates the mix of stocks, bonds and other investments that the mutual fund invests in. When you invest in a mutual fund, you purchase units in the fund, where each unit represents a share of the fund's net asset value.

* Mutual funds are offered through Credential Asset Management Inc. and mutual funds and other securities are offered through Credential Direct ® , a division of Credential Securities Inc., which operates as a separate business unit. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently, and past performance may not be repeated. Credential Securities Inc. is a Member-CIPF. ®Credential Direct is a registered mark owned by Credential Financial Inc. and is used under licence.

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 Index-linked investments
This is an option that can give you the security of a Term Deposit or GIC and the rate of return of a mutual fund. With an index-linked investment, your principal is guaranteed. At the same time, like mutual funds, there is also the potential for a higher rate of return because investment performance is linked to a stock exchange index. Your investment is protected by the Deposit Insurance Corporation of Ontario for up to $100,000 per account holder.