Achieva's Tax-Free Savings Account (TFSA) earns you a great return tax-free. The Government of Canada allows every eligible Canadian to contribute up to a maximum of $5,500 in a TFSA every year. With Achieva’s high interest rates, this could add up to big savings!
This account is right for you if you are looking for tax-free savings options in addition to or instead of RRSP contributions. While deposits are not tax-deductible, all interest earned in a TFSA is tax-free. Achieva's Daily Interest Savings Account and Guaranteed Investment Certificates are eligible for tax-free savings.
- Interest calculated on the closing daily balance and credited on the last day of each month
- Interest earned at the same annual interest rate as the Achieva Savings Account
- Transfers can easily be arranged from other institutions
- Designating a successor holder available upon request
- Remaining within contribution limits is the responsibility of the customer
New!!! Renew Maturing Terms Online - At Achieva, you now have the ability to review your term maturity documents online, set up email or text alerts notifying you when terms mature, and can conveniently and securely renew maturing terms online. Simply log into your Achieva Online account and select GIC Centre, Tax Free Account Centre, or RSP Centre - depending on your product - and follow the instructions to renew your term.
Beneficiary Designation
Government legislation now allows for any beneficiary to be designated on the TFSA contract. Prior to this date, only Successor-Holders could be designated, meaning only a TFSA holder’s spouse or common-law partner could be listed. Beneficiaries on TFSA contracts can now be chosen at the discretion of the TFSA holder.
NOTE: Successor Holder/Beneficiary designations are not recognized if you reside in Quebec at the time of your death.
For existing contracts, those who have listed their spouse or common-law partner as Successor-Holder and wish them to be named as Beneficiary, need not take further action (as the designation of Successor Holder will ensure that in the event of death all monies will be transferred to the surviving spouse/CLP). To make a change from an existing Successor-Holder designation or to name a Beneficiary to a contract with no current designations, please contact us.
New Declaration of Trust
Effective January 1, 2013, your TFSA was amended and now operates under the Cambrian Credit Union Tax-Free Savings Account trusteed by Concentra Trust. Previously, your TFSA was under a general plan trusteed by Concentra Trust. This change does not impact the holdings of your TFSA. It did, however, require minor modifications to the Declaration of Trust. A copy of the amended TFSA Declaration of Trust (01/13) is available here.