No two people are alike. That's why at FirstOntario we provide Members access to a full range of investments and services.  As a credit union, our focus is completely on your financial health, so we offer you full service investing with knowledgable advice tailored to your unique circumstances.  Isn't it time you enjoyed personal investing advice that's actually personal?

 

The New Tax-Free Investment Savings Account - Coming in January 2009

In June, 2008, the Government of Canada approved legislation to introduce a ground-breaking Tax Free Savings Account (TFSA) starting in January 2009. The purpose of the TFSA is to provide a savings vehicle that allows you to earn income tax-free inside the account. FirstOntario will offer the Tax-Free Savings Account to you in 2009!

 

Features of this new registered product:

•  Available to Canadian residents age 18 and older

•  Maximum annual contribution limit for 2009 will be $5,000

•  Income earned and capital gains under a TFSA will be tax sheltered

•  Withdrawal of contributions and/or income will not be subject to tax

•  Unused contribution room may be carried forward and contributed in a future year

•  Withdrawals (capital and income) will increase the unused contribution room

•  Unused contribution room will be reported on your annual CRA Notice of Assessment

•  Contributions will not be tax deductible

•  Contributions may only be made by the owner

Open an “Early-Bird” Tax-Free Investment Savings Account in December, and we'll double your interest earned for that month! Any funds deposited in December will be allocated to your TFSA. On January 1, 2009, we will register the TFSA in your name with the Canada Revenue Agency (CRA) and use the allocated funds toward your 2009 TFSA contribution. We will do the work for you and you still get your interest doubled.

Any interest earned in your “Early-Bird” Tax-Free Investment Savings Account for the month of December will be paid on December 31, 2008 and subject to taxes until the TFSA Government legislation is effective January 1, 2009. Doubling interest earned for the month of December offsets the tax you will to pay on any interest earned.

For more information on the TFSA click here or visit the Canada Revenue Agency at http://www.cra-arc.gc.ca/tx/rgstrd/tfsa-celi/menu-eng.html

 

Retirement Products

At FirstOntario we offer registered investments for each stage of your life.

With the recent change to federal legislation, you do not have to convert your Registered Retirement Savings Plan (RRSP) until you turn 71 (previously 69). Some important options may be available to you including waiting to convert your RRSP. Learn more by choosing RRSPs or RRIFs below.

 

• RRSPs
• RRSP Loans
• RRIFs

Term Deposits

These products offer security, whether you are looking for short or long-term investments.

• Guaranteed Investments                                    

• Market Index GIC

Mutual Funds*

Mutual funds offer another way to diversify your portfolio and potentially increase your return.

Education Savings

An education becomes more important every day. FirstOntario offers a variety of products that can help you save for an education for yourself or a child. The Learning Centre also provides information on what you need to consider when saving for education.

Investment Planning

When you are looking for knowledge and advice, our Investment Specialists can assist you with your investment portfolio.

 

 

*Mutual Funds are offered through Credential Asset Management Inc. and mutual funds and other securities 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, cash balances, mutual funds and other securities are not covered by the 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.