Term Deposits

Secure and reliable, term deposits can fit into any investment strategy. The ‘term’, or length of time you are investing, is available from 30 days right up to 5 years. You also have the flexibility to decide if you would rather have access to that money (choose ‘redeemable’) or prefer to lock it in with a higher rate (go with ‘non-redeemable’).
Plus:

  • Your deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation.
  • There are no trustee fees or administration costs
  • Deposits can be applied as security on loans
  • You will be automatically renewed at the current rate for the same term
  • Terms are also available as an RRSP or RRIF.

Keep reading to learn more. Or, book an appointment online with one of our friendly and knowledgeable team members.

Fixed Rate Redeemable Term Deposit:

  • For the investor who wants a guaranteed rate of return on a specific amount, with the flexibility to redeem if necessary
  • Available in a 1 year term with the option to redeem after 90 days
  • Minimum $500 investment
  • Interest is paid annually at maturity

Fixed Rate Non-Redeemable Term Deposit:

  • For the investor who wants a guaranteed rate of return on a specific amount
  • Rate of return is higher than a redeemable term deposit
  • Locked in for a fixed term of 30 days up to 5 years
  • Minimum $1,000 investment
  • Interest is paid at maturity for terms less than a year, and annually for term of 1 to 5 years, with the option of monthly interest at a slightly lower rate
  • Redemption, transfer or renewal are available at maturity.

Mountain View Maximizer

  • The best of both worlds, the Maximizer is a combination of the redeemable and non-redeemable term deposit
  • Flexible: can be redeemed annually with no interest penalty
  • Available in 3 or 5 year terms
  • Minimum $1,000 investment
  • Escalating rate of return each year that results in the effective annual yield if funds remain on deposit until maturity
  • Interest is paid annually.

Step-By-Step

  • A great way for kids and teens to begin saving, or an ideal way for parents to build on their child’s future
  • Minimum $100 investment
  • One-year term that is automatically renewable each year until age 23
  • Premium interest rate
  • Deposits may be added during the term
  • Interest is paid annually
  • Unavailable as an RRSP or RRIF.