​Tax-Free Savings Account

TFS-Eh: the Canadian way to save more

TFSA: Tax-Free Savings Account

Save for your short and long term goals and grow your money tax-free

Invest your money and don’t worry about taxes on earnings within your Tax-Free Savings Account. A TFSA can hold a variety of investments including a savings account, mutual funds*, and term deposits. TFSAs are available to all Canadians age 18 and over.


  • Key benefits
    • Tax incentives
      Earnings are tax-exempt
    • Interest rate
      Save more with a competitive interest rate
    • Withdrawals
      Withdrawals are tax-free
    • Accessibility
      Unlimited deposits and withdrawals within contribution limits
    • Annual contribution limit
      Canada Revenue Agency announces contribution limits yearly
    • Contribution room
      Contribution room is added each year, unused contribution room is carried forward
    • Investment options
      Variety of investment options including term deposits and mutual funds*
    • memberSHARE eligible
      Get an annual cash bonus when you bundle qualifying products

What goes into a TFSA?

You can invest your TFSA savings in a variety of ways. Matching your TFSA with your investment style can make the most of your money.

​Savings deposits

Term
​deposits

Mutual
funds*

Segregated funds & annuities
Term deposits

Term deposits grow your money faster than a savings account

With flexible and fixed terms, higher interest rates, and 100% deposit insurance, term deposits help you reach your savings goals faster.

memberSHARE eligible

Earn when you bank
Tax-Free Savings Accounts are memberSHARE eligible. Earn cash bonuses every year when you bundle qualifying products.

"I'm happy to be on a program where I earn more than I expect each year."

- Sara J.

​​
Investment advice

Work with an expert

From savers to investors, financial advisors and financial planners offer support for every investment style. Our experts are ready whenever you are to meet with you and gain a better understanding of your goals, investment needs and priorities to build the right plan for your future.

Book an appointment

RRSP vs. TFSA

RRSPs can help you save on year-end taxes in your highest earning years and save for retirement. On the other hand, TFSAs allow you to grow your savings in a fully accessible tax-sheltered savings account. Consider a combination of both for a balanced savings plan that meets your short and long term goals.

Choose Aldergrove Credit Union

Earn cash back

Get an annual cash bonus when you bundle qualifying products. 

3,600+ ATMs

Access your money across Canada with over 3,600 free ATMs and seven local branches.

Digital banking tools

Budget, bank and learn using online and mobile banking solutions 24/7.

No-limit banking

Get excited to save and spend with affordable account options including unlimited transactions.

How to reach us

​​

Email

Send us an email and get a response within one business day.

Call

Monday - Friday
7:00 am - 7:00 pm
Saturday 8:00 am - 4:00 pm

Meet with us

Book an appointment with a
Financial Advisor.

Visit a branch

Stop by any branch and we promise you’ll get a smile.

All deposits are guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.

*Mutual funds can not be purchased until the age of 19, though the contribution room will accrue from the age of 18. 

Mutual funds and related financial planning services are offered through Qtrade Asset Management (a tradename of Credential Asset Management Inc). Online brokerage services are offered through Qtrade Direct Investing. Mutual funds, other securities and securities related financial planning are offered through Credential Securities. Qtrade Direct Investing and Credential Securities are divisions of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc. Qtrade and Qtrade Direct Investing are trade names and trademarks of Aviso Wealth.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. There can be no assurances that the money market fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

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Aldergrove Financial is a trade name of Gulf and Fraser Fishermen's Credit Union