Tax-Free Savings Account

Get the most out of your saving strategy by avoiding tax

Key Features

Automate your saving strategy

Easily set up repeating contributions.

No minimum deposit required

No barrier, get started on your investment goals today.

Investment options

GICs, Index-linked term deposits and mutual funds available.

No hidden Fees

No commission charged or administration fee.

Mutual Funds are offered through Credential Asset Management 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, mutual fund securities and cash balances are not insured or guaranteed and are not covered by the Canada Deposit Insurance Corporation of by any other government deposit insurer that insures deposits in credit unions. Their values change frequently and past performance may not be repeated.

Frequently Asked Questions

Do investment earnings within my Tax-Free Savings Account impact my Contribution Limit?

No, investment earnings within your Tax-Free Savings Account does not impact your Contribution Limit. 

​Can I hold multiple Tax-Free Savings Accounts at more than one financial institution?

Yes, you can hold multiple Tax-Free Savings Account(s) at the same financial or other multiple institutions. This is possible, for as long as you do not have overcontribute and or surpass your lifetime contribution limit.

​Does my income determine the amount I can contribute into my TFSA?

No, your income does not determine your contribution limit. Each Canadian is allowed to contribute a specific amount to their TFSA each year. Your TFSA contribution limit begins to accumulate with the first calendar year in which you turn age 18 and are a resident of Canada.

​Can I transfer my Tax-Free Savings Account to the Polish Credit Union from the institution where I currently hold my TFSA without having an impact on my contribution limit?

Yes, you can transfer your Tax-Free Savings Account to the Polish Credit Union. This transfer will not have an impact on your contribution limit once the transfer from the other institution is complete.

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Mutual Funds