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 Home > Personal Banking > Planning > Educations Savings

A post-secondary education is critical in an increasingly competitive job market. Each year, fewer high school graduates are in a position to afford to continue their education. With the costs of higher education increasing almost every year, early planning is essential.

A great way to fund the education of your children, grandchildren, or another special child in your life is with a Registered Education Savings Plan (RESP). An RESP is a federal government-approved, tax-sheltered savings program for financing post secondary education. Income earned within the plan is not taxed until it is withdrawn.

Answers to frequently asked questions about RESPs are available on the Canada Revenue Agency website at
www.cra-arc.gc.ca/tax/registered/resp/faq-e.html

YNCU offers a variety of smart investment options that can help you maximize your RESP contributions.

Ethical Funds®
Ethical Funds is Canada's leader in socially responsible investing with a full family of Funds to choose from for your education savings portfolio.
Details

Guaranteed Investment Certificates
RESP GIC investments for terms of one to five years are available through our affiliation with Concentra Financial. The minimum deposit is $500.


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 covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. ®Credential is a registered mark owned by Credential Financial Inc. and is used under licence. ®Ethical Funds is a registered mark owned by Ethical Funds Inc. and is used under licence. Ethical Funds® are sold in all provinces and territories across Canada.