RESPs

A post-secondary education has become increasingly important, and investing in an RESP can be an affordable way to give a child more financial freedom when it’s time to make future plans.

Basically, an RESP is an education savings account registered with the Government of Canada that helps a member, family or friends put aside money for a child’s education after high school. 

Additionally, the child may be eligible to receive grants and subsidies from the government through the Canadian Education Savings Grant, Canada Learning Bond and Alberta Provincial Grant.

Eligible subscribers such as parents and grandparents may contribute to an RESP. When it becomes time to withdraw the money for qualified school expenses, any accumulated interest or grant money withdrawn becomes taxable as income for the student.

There’s a lot to know about RESPs, so talk with our friendly staff at your local branch or contact one of our Credential Financial Strategies Inc. Representatives. You can also find more detailed information on the Canadian government website at: www.canlearn.ca.


Credential Financial Strategies Inc. is a member company under Aviso Wealth Inc., offering financial planning, life insurance and investments to members of credit unions and their communities.