{"id":17206,"date":"2020-06-06T18:14:50","date_gmt":"2020-06-06T23:14:50","guid":{"rendered":"http:\/\/caisse-staging.azurewebsites.net\/staging\/?page_id=17206"},"modified":"2025-12-09T14:43:13","modified_gmt":"2025-12-09T20:43:13","slug":"frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/frequently-asked-questions\/","title":{"rendered":"Frequently Asked Questions"},"content":{"rendered":"<blockquote>\n<h6><strong>Notice: Discontinuation of select Guaranteed Investment Certificate (GIC) products\u00a0<\/strong><\/h6>\n<p><span data-contrast=\"auto\">Effective January 20, 2026, we will discontinue the following GIC products:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Non-redeemable GIC (monthly interest option)<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">7-year GIC term<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Redeemable GICs (<\/span><b><span data-contrast=\"auto\">Note:<\/span><\/b><span data-contrast=\"auto\"> 1-year non-registered and TFSA redeemable options will remain available)<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Please note: <\/span><\/b><span data-contrast=\"auto\">The discontinuation of these products applies to both registered and non-registered investment accounts, unless otherwise noted.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If you hold one of these products, no action is required at this time. Your existing GIC(s) will remain in place until their maturity date. At that time, you can choose from our available GIC options.<\/span><\/p><\/blockquote>\n    <p style=\"width: 80%\" class=\"open_close\"><a class=\"openalltables openall\">Open All<\/a><a class=\"closealltables closeall\">Close All<\/a><\/p>\n<div id=\"contact-accordion\">\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_253\" aria-expanded=\"false\" aria-controls=\"answer_253\">Agri Invest<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_253\">\r\n                \n<table id=\"tablepress-253\" class=\"tablepress tablepress-id-253\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the Agri-Invest Program?<\/strong><br \/>\n<ul><br \/>\n\t<li>The Agri-Invest Program is designed to help producers deal with small drops in income or invest in improvements in their farming operations. The government provides matching\u00a0of the producer's contributions\u00a0to an\u00a0Agri-Invest Account.<\/li><br \/>\n\t<li>Producers can use the funds in their Agri-Invest Account to address a small margin decline or for risk mitigation and other investments.<\/li><br \/>\n\t<li><a href=\"http:\/\/www.agr.gc.ca\/eng\/?id=1291828779399\" target=\"_blank\" rel=\"noopener noreferrer\">Click here for program details.<\/a><\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How are government matched contributions calculated?<\/strong><br \/>\n<ul><br \/>\n\t<li>Government matched contributions are based on the participant's Allowable Net Sales (ANS) in a given year.<\/li><br \/>\n\t<li>ANS is the difference between the sales and purchases of eligible commodities.<\/li><br \/>\n\t<li>Only revenue from sales and purchases of farm commodities are included in the calculation, as well as income from AgriInsurance or similar commodity-replacement programs. Other income such as custom work, rental income, or program payments are not included, nor are most expenses such as inputs, overhead expenses, machinery, rental expense, interest, depreciation, or labour.<\/li><br \/>\n\t<li>Starting with the 2013 Program Year (fiscal year ending after December 31, 2012):<br \/>\n<ol><br \/>\n\t<li>The maximum government contribution is 1.0% of ANS<\/li><br \/>\n\t<li>The maximum producer deposit is 100% of ANS; the first 1.0% is matchable<\/li><br \/>\n\t<li>The maximum ANS remains $1.5 million<\/li><br \/>\n\t<li>The maximum account balance is 400% of the average ANS for the current year and the previous two years (or all farming years in the case of a new producer)<\/li><br \/>\n<\/ol><br \/>\n<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Who can participate in the Agri-Invest Program?<\/strong><br \/>\n<ul><br \/>\n\t<li>All producers are eligible, provided they report farming income for income tax purposes (status Indians farming on reserves are eligible if they submit the equivalent information), and meet all program requirements.<\/li><br \/>\n\t<li>Most agricultural commodities are eligible except for supply-managed commodities, aquaculture, forestry products, peat moss, and game farming. Processing or resale of items not produced by the participant is not eligible.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I deposit to my Agri-Invest Account?<\/strong><br \/>\n<ul><br \/>\n\t<li>Producers can make a deposit to their Caisse Financial Group Agri-Invest Account at any of our branch locations.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I withdraw from my Agri-Invest Account?<\/strong><br \/>\n<ul><br \/>\n\t<li>Producers can withdraw funds from their Caisse Financial Group AgriInvest account at any time.<\/li><br \/>\n\t<li>If the participant has no sales or purchases of eligible commodities, or does not submit the program forms, for two consecutive years, their account will be closed and the balance paid to the participant.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on the Agri-Invest Account?<\/strong><br \/>\n<ul><br \/>\n\t<li>Caisse Financial Group offers a market leading interest rate on our Agri-Invest Account. Click \"Rates\" above.<\/li><br \/>\n\t<li>Interest is calculated daily and paid monthly.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-253 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_257\" aria-expanded=\"false\" aria-controls=\"answer_257\">Guaranteed Investment Certificate (GIC)<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_257\">\r\n                \n<table id=\"tablepress-257\" class=\"tablepress tablepress-id-257\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is a Guaranteed Investment Certificate (GIC)?<\/strong><br \/>\n<ul><br \/>\n \t<li>A Guaranteed Investment Certificate (also known as a GIC or a Term Deposit) is a secure way to invest your savings as the interest rate is fixed for the term of the GIC.<\/li><br \/>\n \t<li>The term is the length of time that the funds will be invested. Generally, the longer the term of the GIC, the higher the interest rate.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How is a GIC \u2018guaranteed\u2019?<\/strong><br \/>\n<ul><br \/>\n \t<li>The interest rate is set on the date you make the investment and will not change for the duration of the term of the GIC therefore your return is guaranteed.<\/li><br \/>\n \t<li>A Caisse Financial Group GIC is also guaranteed without limit, principal and interest, by the Deposit Guarantee Corporation of Manitoba.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different types of GIC?<\/strong><br \/>\n<ul><br \/>\n \t<li>Regular GIC: used for regular investment purposes. The interest earned is taxable as per Canada Revenue Agency regulations.<\/li><br \/>\n \t<li>RRSP GIC or RRIF GIC: used for retirement savings purposes. The income earned is not taxable so long as it stays in the RRSP or the RRIF. Withdrawals will be taxed in the year of the withdrawal.<\/li><br \/>\n \t<li>TFSA GIC: used to invest for any purpose. The interest earned will not be taxed.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different GIC features?<\/strong><br \/>\n<ul><br \/>\n \t<li>Non-Redeemable: the funds cannot be withdrawn until the end of the term of the GIC.<\/li><br \/>\n \t<li>Redeemable: the funds can be withdrawn whenever you choose, however, depending on the GIC product, there may be an interest penalty.<\/li><br \/>\n \t<li>Convertible: during the term of the GIC, the funds can be transferred to another GIC\u00a0according to the conditions of the product.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Who can invest in a GIC?<\/strong><br \/>\n<ul><br \/>\n \t<li>Anyone can invest in a GIC however youth may require a parent or guardian to be joint on the account.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on a GIC?<\/strong><br \/>\n<ul><br \/>\n \t<li>The return on a GIC is paid in the form of interest.<\/li><br \/>\n \t<li>The interest rate varies according to the term of the GIC. Generally, the longer the term, the higher the interest rate.<\/li><br \/>\n \t<li>You can increase your return by laddering different GIC terms. For example, you can divide your investment between a short term GIC (less than one year), a medium term GIC (1-2 years) and long term GIC (3 years or more).\u00a0This would give you a higher overall return as longer terms typically offer higher interest rates.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">When is GIC interest paid?<\/strong><br \/>\n<ul><br \/>\n\t<li>If the GIC term is one year or less, interest is paid at maturity.<\/li><br \/>\n\t<li>If the GIC term is longer than one year, interest is paid annually.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How does compound interest work?<\/strong><br \/>\n<ul><br \/>\n\t<li>Interest is \u2018compounded\u2019 when you earn interest on your interest.<\/li><br \/>\n\t<li>If the interest earned is left in the GIC, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest. For example, if the GIC is for a 2-year term, at the end of Year 1, you could choose to add the interest earned to your GIC (compound the interest). If so, interest for Year 2 will be calculated on your original principal and on the interest earned in Year 1 (interest on the interest).<\/li><br \/>\n\t<li>Compound interest can make a big difference in the amount of return that you earn over time.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the fees for investing in a GIC?<\/strong><br \/>\n<ul><br \/>\n\t<li>There are no fees for investing in a GIC.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Can I use a GIC to save for retirement?<\/strong><br \/>\n<ul><br \/>\n\t<li>Yes you can use a GIC to invest for your retirement. Investors who prefer the GIC like knowing that their investment is not at risk and the funds will be available when they retire. They also like that there\u00a0no fees associated with a GIC.<\/li><br \/>\n\t<li>A\u00a0GIC can be held\u00a0in a RRSP or RRIF for retirement purposes. The interest earned will not be taxed while held in the RRSP or RRIF. Withdrawals will be taxed in the year of the withdrawal.<\/li><br \/>\n\t<li>A GIC can be held\u00a0in a TFSA and the interest\u00a0earned will not be taxed and neither will the funds when they are withdrawn from the TFSA.<\/li><br \/>\n\t<li>It is important to consult with a Financial Services Advisor to review the investment options for your retirement, ensuring that you are accumulating the required amount and minimizing taxes.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I invest in a GIC?<\/strong><br \/>\n<ul><br \/>\n\t<li>It is easy to invest in a GIC. You choose the term you want and you deposit the funds in the GIC.<\/li><br \/>\n\t<li>There is no maximum amount you can invest in a GIC and you can have as many GICs as you like.<\/li><br \/>\n\t<li>At Caisse Financial Group, the minimum investment amount for a GIC is $1,000.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I set up a GIC at Caisse Financial Group?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click \"Open Account\" above and complete the online form\u00a0or\u00a0visit any of our branch locations to set up a GIC.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-257 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_271\" aria-expanded=\"false\" aria-controls=\"answer_271\"><em>Interac<\/em>\u00ae e-Transfer<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_271\">\r\n                \n<table id=\"tablepress-271\" class=\"tablepress tablepress-id-271\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Is it possible to cancel an e-Transfer?<\/strong><br \/>\n<p style=\"font-size: 125%\">You can cancel an INTERAC\u00ae e-Transfer if the recipient has received notification but has not yet deposited the money.  If the money has been deposited in the recipient\u2019s account, the e-Transfer cannot be cancelled or reversed.<\/p><br \/>\n<br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I decline an e-Transfer?<\/strong><br \/>\n<p style=\"font-size: 125%\">The recipient must accept the e-Transfer for the transaction to be complete but the recipient can also choose to decline the e-Transfer.<\/p><br \/>\n<p style=\"font-size: 125%\">If the e-Transfer is declined, the sender will receive a notification with instructions to reclaim the funds in his\/her account (minus the fee which is non-refundable). The sender will need to cancel the e-Transfer by following the steps for Cancelling an e-Transfer.<\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What if the transfer is not deposited?<\/strong><br \/>\n<ul><br \/>\n<li>If the recipient has not picked up the e-Transfer, you can resend the notice again.<br \/>\nClick <font color=\"#064f6d\">VIEW\/RESEND\/CANCEL PENDING TRANSFERS<\/font> and find the e-Transfer in question. Click <font color=\"#064f6d\">RESEND NOTICE<\/font><\/li><br \/>\n<li>The recipient has 30 days after the date the e-Transfer is sent to accept the e-Transfer.<br \/>\nIf the receiver does not accept the e-Transfer within 30 days, the transaction will expire and notification will be sent to the sender. The sender then has 30 days to cancel the transaction to reclaim their funds (minus the fee). (See Cancelling an e-Transfer)<\/li><br \/>\n<\/ul><br \/>\n<p style=\"font-size: 125%\">If the sender does not cancel the transaction within the allowed timeframe, Interac\u00ae will cancel the transaction and the money be returned to the sender (minus the fee) within 7 days.<\/p><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What if the recipient's financial institution does not offer e-Transfer?<\/strong><br \/>\n<p style=\"font-size: 125%\">The recipient will need to have access to online banking and will need to follow the link in the notification to register with Interac\u00ae. He\/she will have to provide banking information to Interac\u00ae to complete the transaction. The deposit can take 4-6 business days. An Interac\u00ae fee will be deducted from the amount being sent. <\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What if the recipient doesn't receive notification of the e-Transfer?<\/strong><br \/>\n<p style=\"font-size: 125%\">It can take up to 30 minutes to receive notification of an e-Transfer.<\/p><br \/>\n<p style=\"font-size: 125%\">If notification is still not received after 30 minutes:<\/p><br \/>\n<ul><br \/>\n<li>Check the recipient\u2019s profile to ensure you have entered the correct email and\/or mobile phone number.<\/li><br \/>\n<li>The recipient should check the spam\/junk folder in his\/her inbox.<\/li><br \/>\n<li>You can resend the notice by clicking <font color=\"#064f6d\">VIEW\/RESEND\/CANCEL PENDING TRANSFERS<\/font> and clicking <font color=\"#064f6d\">RESEND NOTICE<\/font>.<\/li><br \/>\n<li>You can contact your branch or Technical Support.  See <a href=\"..\/interac-etransfer#helpquestions\" target=\"_blank\" rel=\"noopener noreferrer\">Need Help<\/a>.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-271 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_270\" aria-expanded=\"false\" aria-controls=\"answer_270\"><em>Interac<\/em>\u00ae Flash<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_270\">\r\n                \n<table id=\"tablepress-270\" class=\"tablepress tablepress-id-270\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the advantages of the Interac Flash contactless payment function (Flash)?<\/strong><br \/>\n<p style=\"font-size: 125%\">The <em>Interac<\/em> Flash contactless payment function (Flash) allows you to make payments more quickly and easily. You do not need to insert your card and enter your personal identification number (PIN).<br \/>\n<br \/>\nSimply hold the card less than 4 centimeters in front of a compatible reader to make your payment. A visual or audio signal will confirm that the Flash transaction was completed. The amount of your purchases will be instantly deducted from your Caisse account.<\/p><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I know if my Caisse member card has the Flash function?<\/strong><br \/>\n<p style=\"font-size: 125%\">The Flash\u00a0symbol appears on the right hand side of your Caisse debit card.<\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Where can I use the Flash function?<\/strong><br \/>\n<p style=\"font-size: 125%\">Look for the Flash symbol on merchants\u2019 readers indicating that the Flash function is available on the reader. However, it could be that the merchant has not activated the contactless Flash functionality therefore it is always prudent to check with the merchant. <br \/>\n<br \/>\nThe Flash card has all the functions of our existing card using your PIN (eg. ATM transaction, payments at merchants that do not allow Flash functionality, etc.) and can be used worldwide. However, the Flash feature is only available in Canada.<\/p><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Are contactless Flash payments safe?<\/strong><br \/>\n<p style=\"font-size: 125%\">Flash transactions use chip processing and rely on the same secure network as the debit card without Flash. All the safety benefits of Interac debit service are included, such as protection against: cloning, counterfeiting, replay fraud and electronic pickpocketing. However, the Flash feature allows you to make payments without entering your PIN to the limits described below, therefore, it is important to protect your card at all times.<br \/>\n<br \/>\nAs a security measure, Flash payments are subject to the limits set by the merchant and the financial institution, which reduces the financial risk in case of lost or stolen card.<br \/>\n<br \/>\n- <strong>Caisse has set a limit of $ 100 for each Flash transaction<\/strong>, however, the merchant\u2019s limit could be lower. If the transaction exceeds the set limit, the member will be asked to insert his\/her Flash card and enter his\/her PIN to make the payment.<br \/>\n<br \/>\n<strong>- Caisse has established a cumulative limit of $ 200 for contactless Flash transactions<\/strong>. <br \/>\nThis is the cumulative sum of the Flash payment amounts that have been made with the card since the last time the PIN was entered. Each time the cumulative limit is reached, the member will be asked to insert his\/her card and enter his\/her PIN; at this time, the cumulative limit will be reset and the member may continue to use the Flash function.<\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What should I do if my debit card is lost, stolen or defrauded?<\/strong><br \/>\n<p style=\"font-size: 125%\">The Flash fonction allows you to make payments without entering your PIN up to the limits described above, it is important to protect your card at all times and to notify Caisse immediately if your card is lost or stolen.<br \/>\n<br \/>\nYou can alert us that your card has been lost or stolen by one of these 3 ways:<\/p><br \/>\n<ol><br \/>\n\t<li>Call your Caisse Financial Group Branch during business hours.<\/li><br \/>\n\t<li>Call one of the following numbers available 24 hours a day, 7 days a week. :<br \/>\n1 866 260-7060 : Canada and the United States<br \/>\n1 925 293-5241 : outside of Canada and the United States<\/li><br \/>\n\t<li><strong><a href=\"https:\/\/secure.caisse.biz\/en\/lost-card\/\">Complete the online form<\/a><\/strong><\/li><br \/>\n<\/ol><br \/>\n<br \/>\n<p style=\"font-size: 125%\">Additional resource: <a href=\"..\/en\/fraud\/#need-help-fraud\">What to do in case of fraud?<\/a><\/p><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">If I pass my card more than once in front of the reader by accident, will I pay twice for the same purchase?<\/strong><br \/>\n<p style=\"font-size: 125%\">No, a purchase may be billed only once, no matter how many times you pass your card in front of the reader.<\/p><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">If I have more than one account under my Caisse porfolio, which account will be debited when I use the Flash function.<\/strong><br \/>\n<p style=\"font-size: 125%\">The Flash function will follow the same process as your existing card.<br \/>\n<br \/>\nIf you have more than one account in your Caisse portfolio, the withdrawal will be made primarily on the account that was identified as your primary account (Chequing or savings account). If the funds are not available in the primary account, the withdrawal will be done in your second account (Chequing or savings account).<br \/>\n<br \/>\nIf funds are not available in any of your accounts, the transaction will not be permitted.<br \/>\n<br \/>\n<a href=\"http:\/\/www.interac.ca\/en\/interac-flash-consumer.html\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for more information about the <i> Interac  <\/i>Flash contactless payment function.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-270 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_258\" aria-expanded=\"false\" aria-controls=\"answer_258\">Lines of Credit<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_258\">\r\n                \n<table id=\"tablepress-258\" class=\"tablepress tablepress-id-258\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the difference between a loan and a line of credit?<\/strong><br \/>\n<ul><br \/>\n\t<li>A loan provides you with the approved amount of funds upfront and requires you to make regularly scheduled payments over a defined period of time until the loan is paid in full.<\/li><br \/>\n\t<li>A line of credit provides you with a pre-approved borrowing limit that is attached to your chequing account and is available to you at all times. You borrow against your line of credit by making withdrawals from your account (in-branch, cheque, debit, ATM, etc.) and you repay the line of credit by making deposits to your account. You are charged interest only when you utilize the line of credit.<\/li><br \/>\n<\/ul><br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What information will I need to apply for a line of credit?<\/strong><br \/>\n<p style=\"font-size: 125%\">The following information will be required when applying for a line of credit:<\/p><br \/>\n<ul><br \/>\n\t<li>Personal information (name, address, phone, email, birth date, marital status, social insurance number, etc.)<\/li><br \/>\n\t<li>Financial information (details of what you own and what you owe, individualy and jointly)<\/li><br \/>\n\t<li>Employment information (employer, occupation, salary, length of time worked, etc.)<\/li><br \/>\n\t<li>Details regarding the purpose of the line of credit<\/li><br \/>\n<\/ul><br \/>\n<p style=\"font-size: 125%\">Other information may be requested in order to evaluate your line of credit\u00a0request.<br \/>\nIf the loan is joint, all loan applicants will need to provide the required information.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-258 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_259\" aria-expanded=\"false\" aria-controls=\"answer_259\">Loans<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_259\">\r\n                \n<table id=\"tablepress-259\" class=\"tablepress tablepress-id-259\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the interest rate for a personal loan?<\/strong><br \/>\n<ul><br \/>\n\t<li>Personal loan interest rates will vary depending on the loan request and the loan applicant.<\/li><br \/>\n\t<li>Personal loan interest rates are based on many factors such as if the loan is secured (asset pledged against the loan) or unsecured, the credit history of the applicant, the amount of the loan and the purpose of the loan, among others.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Is the interest rate on a personal loan fixed or variable?<\/strong><br \/>\n<ul><br \/>\n\t<li>The interest rate on a personal loan can be either fixed or variable.<\/li><br \/>\n\t<li>If the interest rate is fixed, it will not change for the term of the loan.<\/li><br \/>\n\t<li>If the interest is variable, it can fluctuate, up or down, during the term of the loan.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What does \u2018term\u2019 mean?<\/strong><br \/>\n<ul><br \/>\n\t<li>The term of the loan is the length of time that you choose to pay the loan in full.<\/li><br \/>\n\t<li>The term of the loan will determine the amount of your loan payments.<\/li><br \/>\n\t<li>A shorter term means higher loan payments but lower interest costs.<\/li><br \/>\n\t<li>A longer term means lower loan payments but higher interest costs.<\/li><br \/>\n\t<li>Loan terms typically range from 1 to 7 years.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Can I repay my personal loan at any time?<\/strong><br \/>\n<ul><br \/>\n\t<li>Personal loans can be repaid in part or in full any time without penalty.<\/li><br \/>\n\t<li>Repaying your loan as quickly as possible saves you interest costs.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What information will I need to apply for a loan?<\/strong><br \/>\n<p style=\"font-size: 125%\">The following information will be required when applying for a loan:<\/p><br \/>\n<ul><br \/>\n\t<li>Personal information (name, address, phone, email, birth date, marital status, social insurance number, etc.)<\/li><br \/>\n\t<li>Financial information (details of what you own and what you owe, individualy and jointly)<\/li><br \/>\n\t<li>Employment information (employer, occupation, salary, length of time worked, etc.)<\/li><br \/>\n\t<li>Details regarding the purpose of the loan<\/li><br \/>\n<\/ul><br \/>\n<p style=\"font-size: 125%\">Other information may be requested in order to evaluate your loan request.<br \/>\nIf the loan is joint, all loan applicants will need to provide the required information.<\/p><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the difference between a loan and a line of credit?<\/strong><br \/>\n<ul><br \/>\n\t<li>A loan provides you with the approved amount of funds upfront and requires you to make regularly scheduled payments over a defined period of time until the loan is paid in full.<\/li><br \/>\n\t<li>A line of credit provides you with a pre-approved borrowing limit that is attached to your chequing account and is available to you at all times. You borrow against your line of credit by making withdrawals from your account (in-branch, cheque, debit, ATM, etc.) and you repay the line of credit by making deposits to your account. You are charged interest only when you utilize the line of credit.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-259 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_260\" aria-expanded=\"false\" aria-controls=\"answer_260\">Mortgages<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_260\">\r\n                \n<table id=\"tablepress-260\" class=\"tablepress tablepress-id-260\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">I\u2019m a first time homebuyer: what do I need to know?<\/strong><br \/>\n<ol><br \/>\n\t<li>In order to obtain financing for your new home, you need to have a down payment from your own funds. Typically a down payment should be equal to at least 5% of the purchase price of the home.<\/li><br \/>\n\t<li>As a first time homeowner, you have the opportunity to take advantage of the Home Buyers Plan which allows you to withdraw savings from your Registered Retirement Savings Plan (RRSP) to put towards your down payment. <a href=\"http:\/\/www.cra-arc.gc.ca\/tx\/ndvdls\/tpcs\/rrsp-reer\/hbp-rap\/menu-eng.html\" target=\"_blank\" rel=\"noopener noreferrer\">Learn more.<\/a><\/li><br \/>\n\t<li>Use the <a href=\"http:\/\/www.fcac-acfc.gc.ca\/Eng\/resources\/toolsCalculators\/Pages\/Mortgage-Calculat.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">mortgage calculator<\/a> to determine what purchase price and mortgage amount you can afford.<\/li><br \/>\n\t<li><a href=\"..\/contact-us\/\">Contact a Financial Services Advisor<\/a> to get a pre-approved mortgage before you start looking for your new home.<\/li><br \/>\n\t<li>Make sure to have enough funds to cover legal fees, land transfer tax, insurance and other additional fees associated with the purchase of a home.<\/li><br \/>\n<\/ol><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What other expenses are there to consider when buying a home?<\/strong><br \/>\n<p style=\"font-size: 125%\">When purchasing a home, there are expenses such as land transfer tax, lawyer fees, appraisal fees, survey and zoning certificate fees, insurance, property taxes, utilities and moving costs, among others, that you will need to pay before or upon receiving possession of the home.<br \/>\n<br \/>\nAlso, you will need to consider if any renovations are required to the home and add those costs to your mortgage application.<\/p><br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What information will I need to apply for a mortgage?<\/strong><br \/>\n<p style=\"font-size: 125%\">The following information will be required when applying for a mortgage:<\/p><br \/>\n<ul><br \/>\n\t<li>Personal information (name, address, phone, email, birth date, marital status, social insurance number, etc.)<\/li><br \/>\n\t<li>Financial information (details of what you own and what you owe, self and joint)<\/li><br \/>\n\t<li>Employment information (employer, occupation, salary, length of time worked, etc.)<\/li><br \/>\n\t<li>Property information (address, purchase price, physical details, tax roll number, etc.)<\/li><br \/>\n<\/ul><br \/>\n<p style=\"font-size: 125%\">Other information may be requested in order to evaluate your mortgage request.<br \/>\nIf the mortgage is joint, all applicants will need to provide the required information.<\/p><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Can I get a mortgage approved before I buy a home?<\/strong><br \/>\n<p style=\"font-size: 125%\">Before you start looking for a new home, it is a good idea to get a pre-approved mortgage.<br \/>\n<br \/>\nA pre-approved mortgage will determine the amount that you can afford to pay for a home therefore you can confidently shop for homes within your price range, knowing that when you find the right one, your financing is in place. This could also provide you a competitive edge if there are other purchase offers.<br \/>\n<br \/>\n<a href=\"..\/contact-us\/\">Contact a Financial Services Advisor<\/a> to get a pre-approved mortgage before you start looking for your new home.<\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Should I invest in RRSPs or make additional payments on my mortgage?<\/strong><br \/>\n<p style=\"font-size: 125%\">There are a number of factors to consider when deciding whether to invest in your RRSP or to make additional payments on your mortgage, such as the interest rate on your mortgage, whether you are carrying any high interest bearing debt and how much you need to save for retirement. You could possibly do both: invest in your RRSP and use your tax refund to make an additional mortgage payment.<br \/>\n<br \/>\n<a href=\"..\/contact-us\/\">Contact a Financial Services Advisor<\/a> to review your situation and determine what is best for you.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-260 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_262\" aria-expanded=\"false\" aria-controls=\"answer_262\">Mutual Funds<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_262\">\r\n                \n<table id=\"tablepress-262\" class=\"tablepress tablepress-id-262\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is a mutual fund?<\/strong><br \/>\n<ul><br \/>\n\t<li>A mutual fund is a simpler way for you to invest in the market when you are looking for something other than the traditional investment products.<\/li><br \/>\n\t<li>A mutual fund is the pooling of assets of many investors, which is then invested in different types of securities, from low risk such as treasury bills and government bonds to higher risk securities such as stocks. When you buy a mutual fund, you are buying a number of units of the larger pool of assets.<\/li><br \/>\n\t<li>Unlike traditional investment products such as guaranteed investment certificates, the return on a mutual fund is not guaranteed as it is subject to market fluctuations and therefore cannot be known with certainty. The principal investment in a mutual fund is also not guaranteed and could be at risk of loss should the market performance fall.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different types of mutual funds?<\/strong><br \/>\n<p style=\"font-size: 125%\">The types of mutual funds depend on the types of securities held by the fund. The most common types of mutual funds are:<\/p><br \/>\n<ul><br \/>\n\t<li>Fixed Income Fund: An income mutual fund holds a variety of government, municipal and corporate debt obligations, preferred stock, money market instruments and dividend-paying stocks. An income mutual fund is geared towards investors interested in generating current income, either on a monthly or quarterly basis, as opposed to capital appreciation.<\/li><br \/>\n\t<li>Equity Fund: Also known as a \"stock fund\u201d, an equity mutual fund invests principally in stocks. Stock mutual funds are principally categorized according to company size, the investment style of the holdings in the portfolio and geography.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different mutual funds options?<\/strong><br \/>\n<p style=\"font-size: 125%\">Among the different options available for mutual funds, the most common options are:<\/p><br \/>\n<ul><br \/>\n\t<li>Non-Registered: A mutual fund can be held as a regular investment. The earnings are taxable as per Canada Revenue Agency regulations.<\/li><br \/>\n\t<li>Registered: A mutual fund can be held in a registered investment account for retirement savings purposes. The earnings will not be taxed while the mutual fund is registered as a RRSP or RRIF.<\/li><br \/>\n\t<li>TFSA: A mutual fund can be held within a\u00a0Tax Free Savings Account. The earnings will not be taxed and the withdrawals from the TFSA will not be taxed.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Who can invest in a mutual fund?<\/strong><br \/>\n<ul><br \/>\n\t<li>You must be 18 years or older to invest in a mutual fund.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on a mutual fund?<\/strong><br \/>\n<ul><br \/>\n\t<li>The\u00a0return on a mutual fund depends on the fund selected, the type of investments held in the fund, the fund manager and the time invested in the fund.<\/li><br \/>\n\t<li>The return can be interest earned on money market instruments, interest received from bonds or the earnings from stocks, among others.<\/li><br \/>\n\t<li>The return on a mutual fund will vary depending on the type of fund and the performance of the investments within the fund.<\/li><br \/>\n\t<li>The return on a mutual fund is not guaranteed.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Is a mutual fund guaranteed?<\/strong><br \/>\n<ul><br \/>\n\t<li>The return on a mutual fund is not guaranteed as it is dependent on the performance of the investments in the fund which can fluctuate.<\/li><br \/>\n\t<li>The principal invested in a mutual fund is not guaranteed and can be at risk of loss if the fund value falls below the original amount invested.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Can I use a mutual fund to save for retirement?<\/strong><br \/>\n<ul><br \/>\n\t<li>Yes you can use a mutual fund to save for your retirement. Investors who prefer mutual funds find that it is a simple way to invest in the market when trying to increase their return on investment or diversify their portfolio.<\/li><br \/>\n\t<li>A mutual fund can be held in a registered investment account for retirement savings purposes. The earnings will not be taxed while the mutual fund is held in the RRSP or RRIF.<\/li><br \/>\n\t<li>Contact an Investment Specialist to review all the investment options for your retirement plan in order to ensure that you are accumulating the required amount and minimizing taxes.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What fees are associated with a mutual fund?<\/strong><br \/>\n<ul><br \/>\n\t<li>A mutual fund will charge fees for the management of the fund (MER). Fees vary among the different mutual funds. Fees are deducted from the return generated by the mutual fund.<\/li><br \/>\n\t<li>Other fees and charges may apply to mutual fund investments.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I know if a mutual fund is suited for me?<\/strong><br \/>\n<ul><br \/>\n\t<li>Contact an Investment Specialist to review your financial situation, time horizon, goals and risk tolerance and to develop an investment plan that is suitable for you, with or without mutual funds.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I choose the mutual fund that is best suited for me?<\/strong><br \/>\n<ul><br \/>\n\t<li>There are so many options of mutual funds and mutual fund companies to choose from that it can be mind boggling.\u00a0The Investment Specialists can help you determine your goals and the mutual funds that are best for you.<\/li><br \/>\n\t<li>There are no limits to the amount you can invest in a mutual fund or to the number of mutual funds you can have. However, minimum investment amounts may apply depending on the type of fund selected.<\/li><br \/>\n\t<li>Contact an Investment Specialist to review your\u00a0investment options.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-262 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_265\" aria-expanded=\"false\" aria-controls=\"answer_265\">Online Statement<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_265\">\r\n                \n<table id=\"tablepress-265\" class=\"tablepress tablepress-id-265\">\n<tbody>\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Is there a fee for online statements?<\/strong><br \/>\n<p style=\"font-size: 125%\">There are no fees for online statements.<\/p><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I switch from paper statements to online statements?<\/strong><br \/>\n<p style=\"font-size: 125%\">Please <a href=\"https:\/\/www.caisse.biz\/en\/go-paperless-form\/\">click this link<\/a> to opt out of paper statements.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-265 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_267\" aria-expanded=\"false\" aria-controls=\"answer_267\">Personal Chequing Account<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_267\">\r\n                \n<table id=\"tablepress-267\" class=\"tablepress tablepress-id-267\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I open a chequing account?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click \"Open Account\" above and complete the online form or contact any of our branches to open an account.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How old do I have to be to open a chequing account?<\/strong><br \/>\n<p style=\"font-size: 125%\">You can be any age to open a chequing account however if you are under 13 years of age, your parent or guardian must be joint on the account with you.<br \/>\n<br \/>\nAlso, if you are under 18 years of age, you cannot order or issue cheques but you can utilize all other available services.<\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What information do I need to open a chequing account?<\/strong><br \/>\n<ul><br \/>\n\t<li>You will need two pieces of original, valid identification (photocopies not accepted) as follows:<br \/>\n<ul><br \/>\n\t<li>A minimum of one primary identification<br \/>\n<ul><br \/>\n\t<li>valid driver's license, current passport, birth certificate, Canadian Citizenship Card, Old Age Security Card, Indian Status Certificate Card<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>If you only have one piece of primary identification, a secondary identification must be presented:<br \/>\n<ul><br \/>\n\t<li>government issued identity card, employer identification card with photo, student card with photo, credit card, social insurance number<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>At least one piece of identification must have a recent photo<\/li><br \/>\n\t<li>At least one piece of identification must confirm your current address<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>If you are under 13 years of age, a parent or guardian must be joint on the account with you<\/li><br \/>\n\t<li>If the account is joint, both holders must provide the required identification<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the service fees?<\/strong><br \/>\n<p style=\"font-size: 125%\">Transaction fees vary depending on the chequing account that you choose. Review account details above.<br \/>\n<br \/>\n<a href=\"..\/personal-banking\/service-fees\/\">Click here<\/a> for our Service Fees.<\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Will I get charged to use ATMs?<\/strong><br \/>\n<p style=\"font-size: 125%\">Caisse Financial Group members can use Caisse Financial Group ATMs in Manitoba and Credit Union <em>AccuLink<sup>\u00ae<\/sup><\/em> ATMs across Canada to deposit, withdraw and transfer funds as well as check their balances free of surcharge fees.<br \/>\n<br \/>\nAll other ATM fees vary depending on the\u00a0account that you choose. Review account details above.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-267 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_268\" aria-expanded=\"false\" aria-controls=\"answer_268\">Personal Savings Account<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_268\">\r\n                \n<table id=\"tablepress-268\" class=\"tablepress tablepress-id-268\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I open a savings account?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click \"Open Account\" above and complete the online form or contact any of our branches to open an account.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How old do I have to be to open a savings account?<\/strong><br \/>\n<p style=\"font-size: 125%\">You can be any age to open a savings account however if you are under 13 years of age, your parent or guardian must be joint on the account with you.<\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What information do I need to open a savings account?<\/strong><br \/>\n<ul><br \/>\n\t<li>You will need two pieces of original, valid identification (photocopies not accepted) as follows:<br \/>\n<ul><br \/>\n\t<li>A minimum of one primary identification<br \/>\n<ul><br \/>\n\t<li>valid driver's license, current passport, birth certificate, Canadian Citizenship Card, Old Age Security Card, Indian Status Certificate Card<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>If you only have one piece of primary identification, a secondary identification must be presented:<br \/>\n<ul><br \/>\n\t<li>government issued identity card, employer identification card with photo, student card with photo, credit card, social insurance number<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>At least one piece of identification must have a recent photo<\/li><br \/>\n\t<li>At least one piece of identification must confirm your current address<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>If you are under 13 years of age, a parent or guardian must be joint on the account with you<\/li><br \/>\n\t<li>If the account is joint, both holders must provide the required identification<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the service fees?<\/strong><br \/>\n<p style=\"font-size: 125%\">Transaction fees vary depending on the chequing account that you choose. Review account details above.<br \/>\n<br \/>\n<a href=\"..\/personal-banking\/service-fees\/\">Click here<\/a> for our Service Fees.<\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Will I get charged to use ATMs?<\/strong><br \/>\n<p style=\"font-size: 125%\">Caisse Financial Group members can use Caisse Financial Group ATMs in Manitoba and Credit Union <em>AccuLink<sup>\u00ae<\/sup><\/em> ATMs across Canada to deposit, withdraw and transfer funds as well as check their balances free of surcharge fees.<br \/>\n<br \/>\nAll other ATM fees vary depending on the account that you choose. Review account details above.<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-268 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_266\" aria-expanded=\"false\" aria-controls=\"answer_266\">Registered Retirement Income Fund (RRIF)<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_266\">\r\n                \n<table id=\"tablepress-266\" class=\"tablepress tablepress-id-266\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is a Registered Retirement Income Fund (RRIF)?<\/strong><br \/>\n<ul><br \/>\n\t<li>A Registered Retirement Income Fund (RRIF) is a fund registered with the Canada Revenue Agency (CRA) that ensures that you have income throughout your retirement years by allocating regular payments to you.<\/li><br \/>\n\t<li>Minimum payments must be paid to you starting in the year after the RRIF is set up. You can choose how often you receive these payments (monthly, quarterly, semi-annually or annually).<\/li><br \/>\n\t<li>Income earned in a RRIF is not taxable so long as it stays in the RRIF, allowing you to continue to grow your retirement savings tax free.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I contribute to a RRIF?<\/strong><br \/>\n<ul><br \/>\n\t<li>You cannot contribute directly to a RRIF. You can only transfer funds from your RRSP to a RRIF.<\/li><br \/>\n\t<li>All funds in a RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years of age (or the funds must be withdrawn from the RRSP in its entirety).<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">When can I contribute to a RRIF?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can transfer funds from a RRSP to a RRIF at any age before the established deadline however minimum payments must be paid to you starting in the year after the RRIF is established.<\/li><br \/>\n\t<li>All funds in a RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years of age (or the funds must be withdrawn from the RRSP in its entirety).<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different RRIF investment options?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can invest in a\u00a0RRIF via a savings account which is flexible, simple and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another RRIF investment option at any time.<\/li><br \/>\n\t<li>You can invest in a\u00a0RRIF via a GIC which is a secure way to grow your retirement savings as the interest rate is fixed.<\/li><br \/>\n\t<li>You can invest in a RRIF via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How does compound interest work?<\/strong><br \/>\n<ul><br \/>\n\t<li>Interest is \"compounded\" when you earn interest on your interest.<\/li><br \/>\n\t<li>If the interest earned is left in your RRIF, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest.<\/li><br \/>\n\t<li>Compound interest can make a big difference in the amount of return that you earn over time.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I set up a Registered Retirement Income Fund (RRIF) at Caisse Financial Group?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click on \"Open Account\" above and complete the online form\u00a0or contact any of our branch locations to open a RRIF.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on a RRIF?<\/strong><br \/>\n<ul><br \/>\n\t<li>The return on a RRIF depends on the type of investment that you selected.<\/li><br \/>\n\t<li>If the RRIF is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable for as long as you leave the interest in the RRIF; the interest is taxable when you withdraw it.<\/li><br \/>\n\t<li>If the RRIF is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-266 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_263\" aria-expanded=\"false\" aria-controls=\"answer_263\">Registered Retirement Savings Plan (RRSP)<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_263\">\r\n                \n<table id=\"tablepress-263\" class=\"tablepress tablepress-id-263\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is a Registered Retirement Savings Plan (RRSP)?<\/strong><br \/>\n<ul><br \/>\n\t<li>A RRSP is a retirement savings plan registered with the Canada Revenue Agency (CRA) which allows you to grow your retirement savings tax free while the funds stay in the RRSP.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the difference between a RRSP and a TFSA?<\/strong><br \/>\n<ul><br \/>\n\t<li>A RRSP is designed for retirement savings purposes. A TFSA is designed to provide tax free savings for any purpose, including retirement.<\/li><br \/>\n\t<li>Contributions to a RRSP are tax deductible whereas contributions to a TFSA are not deductible for tax purposes.<\/li><br \/>\n\t<li>Withdrawals from a RRSP are taxable when withdrawn whereas withdrawals from a TFSA are not taxable.<\/li><br \/>\n\t<li>Only individuals with contribution room (i.e. having earned income in Canada) can contribute to a RRSP. Anyone who is 18 years of age and a Canadian resident can contribute to a TFSA.<\/li><br \/>\n\t<li>Contributions can be made to a RRSP only until the end of the year in which you turn 71 years of age. There is no maximum age limit to contribute to a TFSA.<\/li><br \/>\n\t<li>Contribution limits are different for a RRSP than a TFSA. Maximum contributions to a RRSP depend on your income and other factors. Maximum contributions to a TFSA are a set annual amount which is the same for everyone<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Who can contribute to a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>An individual with \u201cearned income\u201d in Canada, including non-residents, may contribute to an RRSP.<\/li><br \/>\n\t<li>Contributions can be made until the end of the calendar year in which you turn 71 years of age.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How much can I contribute to a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>See the \"RRSP Deduction Limit Statement\" included on the Notice of Assessment issued to you by Canada Revenue Agency to determine your RRSP contribution limit.<\/li><br \/>\n\t<li>The annual contribution limit is the lesser of: 18% of income earned in the previous year or the maximum annual contribution limit prescribed by the Government of Canada. Contributions to your employer's pension plan reduces the amount you can invest in your RRSP.<\/li><br \/>\n\t<li>If you do not use all of your contribution room in previous years, you can carry over the unused portion to future years.<\/li><br \/>\n\t<li>You cannot exceed your RRSP contribution limit otherwise penalties will apply.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I contribute to a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can contribute a large amount at one time, often referred to as a lump sum contribution, up to your maximum contribution limit.<\/li><br \/>\n\t<li>You can contribute regularly scheduled amounts via automatic transfers from your chequing or savings account directly to your RRSP account.<\/li><br \/>\n\t<li>If you have an existing RRSP at the Caisse, you can make contributions by logging into Online Banking and transferring money from your chequing or savings account to your RRSP account.<\/li><br \/>\n\t<li>You can contribute to your own RRSP or to your legal or common law spouse\u2019s RRSP (\u2018spousal RRSP\u2019). Spousal RRSP contributions allow income splitting at retirement, resulting in a possible reduction of overall family taxes.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">When can I contribute to a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>Anyone with \u201cearned income\u201d subject to Canadian taxation, including non-residents, may contribute to an RRSP anytime until the end of the year in which he or she turns 71 years of age.<\/li><br \/>\n\t<li>60 days following the end of the calendar year is the RRSP contribution deadline for reporting the deduction on your tax return.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>The return on a RRSP depends on the type of investment that you selected.<\/li><br \/>\n\t<li>If the RRSP is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable for as long as you leave the interest in the RRSP; the interest is taxable when you withdraw it.<\/li><br \/>\n\t<li>If the RRSP is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How does compound interest work?<\/strong><br \/>\n<ul><br \/>\n\t<li>Interest is \u2018compounded\u2019 when you earn interest on your interest.<\/li><br \/>\n\t<li>If the interest earned is left in your RRSP, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest.<\/li><br \/>\n\t<li>Compound interest can make a big difference in the amount of return that you earn over time.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different RRSP investment options?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can contribute to a\u00a0RRSP via a savings account which is a flexible, simple way to save and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another RRSP investment option at any time.<\/li><br \/>\n\t<li>You can contribute to\u00a0 RRSP via a\u00a0GIC\u00a0which is a secure way to grow your savings as the interest rate is fixed.<\/li><br \/>\n\t<li>You contribute to a\u00a0RRSP via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How much should I save for retirement?<\/strong><br \/>\n<ul><br \/>\n\t<li>Your retirement expenses determine the amount you need to save.<\/li><br \/>\n\t<li>Click \"Calculators and Resources\" above for retirement savings calculators.<u> <\/u><\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Should I contribute to a RRSP or a TFSA?<\/strong><br \/>\n<ul><br \/>\n\t<li>Both a RRSP and a TFSA allow you to grow your savings tax free.<\/li><br \/>\n\t<li>A RRSP is designed to give you tax savings by providing you with a tax deduction when you contribute to the RRSP, however you will pay taxes when you withdraw the funds from the RRSP.<\/li><br \/>\n\t<li>A TFSA does not provide a tax deduction when you contribute however withdrawals from a TFSA are not taxable.<\/li><br \/>\n\t<li>The benefits of contributing to a TFSA versus a RRSP will depend on your age and financial situation. It may be to your benefit to maximize your tax deduction with a RRSP or conversely to take full advantage of the TFSA contribution limit or to contribute to both a TFSA and a RRSP.<\/li><br \/>\n\t<li>Speak with a Financial Services Advisor\u00a0who can provide you with helpful advice before you make your decision.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">When should I contribute to a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can contribute to a RRSP as soon as you have contribution room, which is when you have earned income in Canada. The earlier you start, the longer your savings can grow tax free and the less you will have to contribute from your own pocket to fund your retirement.<\/li><br \/>\n\t<li>All contributions to a RRSP prior to the contribution deadline can be deducted in the tax year. You should try to maximize your tax savings by contributing as much as possible prior to the deadline. Every individual\u2019s situation is different.<\/li><br \/>\n\t<li>Contact a Financial\u00a0Services Advisor\u00a0about contributing to a RRSP.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Can I only withdraw from a RRSP at retirement?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can withdraw from an RRSP before retirement however you will have to claim any funds withdrawn as income in the year of the withdrawal, except in the following circumstances:<br \/>\n<ul><br \/>\n\t<li>You can withdraw funds from your RRSP without tax consequences to apply the funds towards the purchase of your home, (<a href=\"http:\/\/www.cra-arc.gc.ca\/hbp\/\" target=\"_blank\" rel=\"noopener noreferrer\">Homebuyers\u2019 Plan)<\/a>.<\/li><br \/>\n\t<li>You can withdraw funds from your RRSP without tax consequences to apply the funds towards the cost of your education (<a href=\"http:\/\/www.cra-arc.gc.ca\/tx\/ndvdls\/tpcs\/rrsp-reer\/llp-reep\/menu-eng.html\" target=\"_blank\" rel=\"noopener noreferrer\">Lifelong Learning Plan<\/a>).<\/li><br \/>\n\t<li>Upon your death, if your spouse is the beneficiary of your RRSP, the funds can be transferred to your spouse\u2019s RRSP, who, will not pay taxes on the funds until they are withdrawn from his\/her RRSP.<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>You should consider the tax consequences before withdrawing from your RRSP as well as how the reduction of RRSP savings will impact your retirement goals.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I set up a Registered Retirement Savings Plan (RRSP) at Caisse Financial Group?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click \"Open Account\" above and complete the online form or contact any of our branch locations to open a RRSP.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-263 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_269\" aria-expanded=\"false\" aria-controls=\"answer_269\">Student Account<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_269\">\r\n                \n<table id=\"tablepress-269\" class=\"tablepress tablepress-id-269\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What fees will I save with a Student Account?<\/strong><br \/>\n<p style=\"font-size: 125%\">Per Statistics Canada, Canadians spend an average of $200 on bank fees every year. Our Student Account gives you free unlimited transactions from age 18 to 26, whether you remain a student or not. That represents a savings of $1,600 over 8 years.<\/p><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How much interest will I earn with a Student Account?<\/strong><br \/>\n<p style=\"font-size: 125%\">We offer our highest daily interest rate on the Student Account. You earn interest every day on every dollar you have in your account. Interest is paid in your account at the end of every month. Keep your money in your account and the interest will add up over time. <a href=\"http:\/\/www.yourmoney.cba.ca\/students\/inside\/tools\/savings_calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Savings Calculator<\/a><\/p><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Why do I need two accounts: the Student Account and the Student Savings Account?<\/strong><br \/>\n<p style=\"font-size: 125%\">Keeping the money you can spend separate from the money you need to save is the best way to reach your savings goals. That is why we offer two Student Accounts: the Student Account and the Student Savings Account. Both accounts are free and earn the same interest rate.<br \/>\n<ul><br \/>\n\t<li>The Student Account is your everyday banking account and where you should keep the money you can spend.<\/li><br \/>\n\t<li>The Student Savings Account is where you should keep the money you need to save. Plus, if you keep a minimum of $500 in this account, you are eligible to win $500 three times a year. Draw dates are: November 30<sup>th<\/sup>, March 31<sup>st<\/sup> and July 31<sup>st<\/sup>. <u>Click here for details.<\/u><\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I access my money?<\/strong><br \/>\n<p style=\"font-size: 125%\">The Student Account provides many ways to access your account.<br \/>\n<br \/>\nHowever, to access your funds in the Student Savings Account, you will need to first transfer the funds to another Caisse account via our branch or our online banking or telephone banking service. This will help you think about spending the money you have been saving up.<\/p><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I save money for my education?<\/strong><br \/>\n<ul><br \/>\n\t<li>Open a Student Account for your spending money and open a Student Savings Account for the money you need to save.<\/li><br \/>\n\t<li>Determine how much you need to save and by what date. Then, calculate the amount you need to save every week, every two weeks or every month to reach your savings objective.<\/li><br \/>\n\t<li>When you receive your pay or other income:<br \/>\n<ul><br \/>\n\t<li>Transfer the money you need to save immediately to your Student Savings Account. Set up an automatic reminder on your calendar to not forget.<\/li><br \/>\n\t<li>Set up an automatic transfer to your Student Savings Account on a weekly, biweekly or monthly basis on the dates that coincide with your pay dates.<\/li><br \/>\n<\/ul><br \/>\n<\/li><br \/>\n\t<li>Do not spend the money in your Student Savings Account for any other purpose than to pay your tuition.<\/li><br \/>\n\t<li>Open a separate Student Savings Account for any other goal you are saving up for.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-269 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n\n\r\n        <div class=\"table\">\r\n\r\n            <h6 class=\"table_head\"><a class=\"table_head collapsed\" role=\"button\" data-toggle=\"collapse\" href=\"#table_264\" aria-expanded=\"false\" aria-controls=\"answer_264\">Tax Free Savings Account (TFSA)<\/a><\/h6>\r\n\r\n            <div class=\"collapse\" id=\"table_264\">\r\n                \n<table id=\"tablepress-264\" class=\"tablepress tablepress-id-264\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is a Tax Free Savings Account (TFSA)?<\/strong><br \/>\n<ul><br \/>\n\t<li>A Tax Free Savings Account (TFSA) is a registered savings plan authorized by the Canada Revenue Agency (CRA) that allows you to grow your savings tax free.<\/li><br \/>\n\t<li>Income earned in a TFSA is not taxable and withdrawals from a TFSA are not taxable.<\/li><br \/>\n\t<li>Withdrawals from a TFSA will not affect government benefits that are based on income.<\/li><br \/>\n\t<li>Contributions to a TFSA are not tax deductible.<\/li><br \/>\n\t<li>A TFSA should not be treated as a regular savings account where there could be frequent withdrawals; rather, it should be treated as a vehicle for longer term savings or for specific savings goals.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the difference between a TFSA and a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>A TFSA is designed to provide tax free savings for any purpose, including retirement. A RRSP is designed for retirement savings purposes specifically.<\/li><br \/>\n\t<li>Contributions to a TFSA are not deductible for tax purposes whereas contributions to a RRSP are tax deductible.<\/li><br \/>\n\t<li>Withdrawals from a TFSA are not taxable whereas withdrawals from a RRSP are taxable when withdrawn.<\/li><br \/>\n\t<li>Anyone who is 18 years of age and a Canadian resident with a valid social insurance number can contribute to a TFSA. Only individuals with contribution room (i.e. having earned income in Canada) can contribute to a RRSP.<\/li><br \/>\n\t<li>There is no maximum age limit to contribute to a TFSA. Contributions can be made to a RRSP only until the end of the year in which you turn 71 years of age.<\/li><br \/>\n\t<li>Contribution limits are different for a TFSA than a RRSP. Maximum contributions to a TFSA are a set annual amount which is the same for everyone. Maximum contributions to a RRSP depend on your income and other factors.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Who can contribute to a Tax Free Savings Account (TFSA)?<\/strong><br \/>\n<ul><br \/>\n\t<li>To contribute to a TFSA, you must meet the following eligibility requirements:<br \/>\n<ol><br \/>\n\t<li>Have a Social Insurance Number (SIN)<\/li><br \/>\n\t<li>Be 18 years of age or over<\/li><br \/>\n\t<li>Be a resident of Canada (Individuals only, no trusts or corporations)<\/li><br \/>\n<\/ol><br \/>\n<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">When can I contribute to a Tax Free Savings Account (TFSA)?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can contribute to a TFSA anytime during the year that you meet the eligibility requirements. <a href=\"http:\/\/www.cra-arc.gc.ca\/tx\/ndvdls\/tpcs\/tfsa-celi\/pnng\/menu-eng.html\" target=\"_blank\" rel=\"noopener noreferrer\">Click here for details.<\/a><\/li><br \/>\n<\/ul><br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How much can I contribute to a TFSA?<\/strong><br \/>\n<ul><br \/>\n\t<li>The annual contribution limit is prescribed by the Government of Canada and it is the same for everyone. <a href=\"http:\/\/www.cra-arc.gc.ca\/tfsa\/\" target=\"_blank\" rel=\"noopener noreferrer\">Click here for contribution limits.<\/a><\/li><br \/>\n\t<li>If you do not use all of your contribution room in previous years, you can carry over the unused portion to future years.<\/li><br \/>\n\t<li>You cannot exceed the maximum contribution limit otherwise penalties will apply.<\/li><br \/>\n\t<li>Withdrawals from a TFSA can be added back to the TFSA according to the regulations; this would be in addition to your maximum annual contribution limit.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How can I contribute to a TFSA?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can make your contribution all at once, often referred to as a lump sum contribution, up to the maximum contribution limit.<\/li><br \/>\n\t<li>You can contribute regularly scheduled amounts via automatic transfers from your chequing or savings account directly to your TFSA Savings Account.<\/li><br \/>\n\t<li>If you have an existing TFSA at the Caisse, you can make TFSA contributions by logging into Online Banking and transferring money from your chequing or savings account to your\u00a0TFSA account.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What is the return on a Tax Free Savings Account?<\/strong><br \/>\n<ul><br \/>\n\t<li>The return on a Tax Free Savings Account depends on the type of investment that you selected.<\/li><br \/>\n\t<li>If the TFSA is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable whether you leave the interest in the TFSA or whether you withdraw it.<\/li><br \/>\n\t<li>If the TFSA is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How does compound interest work?<\/strong><br \/>\n<ul><br \/>\n\t<li>Interest is \u2018compounded\u2019 when you earn interest on your interest.<\/li><br \/>\n\t<li>If the interest earned is left in the account, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest.<\/li><br \/>\n\t<li>Compound interest can make a big difference in the amount of return that you earn over time.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">What are the different TFSA investment options?<\/strong><br \/>\n<ul><br \/>\n\t<li>You can contribute to a TFSA via a savings account which is a flexible, simple way to save and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another TFSA investment option at any time.<\/li><br \/>\n\t<li>You can contribute to a TFSA via a GIC which is a secure way to grow your savings as the interest rate is fixed.<\/li><br \/>\n\t<li>You can contribute to\u00a0a TFSA via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">Should I contribute to a TFSA or a RRSP?<\/strong><br \/>\n<ul><br \/>\n\t<li>Both a RRSP and a TFSA allow you to grow your savings tax free.<\/li><br \/>\n\t<li>A RRSP is designed to give you tax savings when your income is higher\/when you are working (by providing you with a tax deduction when you contribute to the RRSP) however you will pay taxes when you withdraw the funds from the RRSP.<\/li><br \/>\n\t<li>A TFSA does not provide a tax deduction when you contribute however withdrawals from a TFSA are not taxable.<\/li><br \/>\n\t<li>The benefits of contributing to a TFSA versus a RRSP will depend on your age and financial situation. It may be to your benefit to maximize your tax deduction with a RRSP or conversely to take full advantage of the TFSA contribution limit. It could also be to your advantage to contribute to both a TFSA and a RRSP. Every individual\u2019s situation is different.<\/li><br \/>\n\t<li>Contact a Financial Services Advisor who can provide you with helpful advice before you make your decision.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\"><strong style=\"font-size: 125%\">How do I set up a Tax Free Savings Account (TFSA) at Caisse Financial Group?<\/strong><br \/>\n<ul><br \/>\n\t<li>Click \"Open Account\" above and complete the online form or contact any of our branch locations to open a TFSA.<\/li><br \/>\n<\/ul><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-264 from cache -->\r\n            <\/div>\r\n\r\n        <\/div>\r\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Notice: Discontinuation of select Guaranteed Investment Certificate (GIC) products\u00a0 Effective January 20, 2026, we will discontinue the following GIC products:\u00a0 Non-redeemable GIC (monthly interest option)\u00a0 7-year GIC term\u00a0 Redeemable GICs (Note: 1-year non-registered and TFSA redeemable options will remain available)\u00a0 Please note: The discontinuation of these products applies to both registered and non-registered investment accounts, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"tpl_page_right_sidebar.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-17206","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/pages\/17206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/comments?post=17206"}],"version-history":[{"count":3,"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/pages\/17206\/revisions"}],"predecessor-version":[{"id":30474,"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/pages\/17206\/revisions\/30474"}],"wp:attachment":[{"href":"https:\/\/caisse-wordpress-prod.azurewebsites.net\/en\/wp-json\/wp\/v2\/media?parent=17206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}