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, contact your local branch  or complete our online application .

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.