​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
    • Receive an annual cash bonus
      Earn cash on interest earned during the previous calendar year through memberSHARE*

*memberSHARE Loyalty Program dividend, bonus and rebate percentages are announced annually and payment is not guaranteed. A $5 minimum payment per account is required to receive payment.

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 save
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.

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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

Earn bonuses and rebates on products, plus dividends on equity shares paid annually.

3,600+ ATMs

Access your money across Canada with over 3,600 free ATMs and six 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
8:30 am - 5 pm
Saturday 8:30 am - 3 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.

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