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Understanding RRSPs
Saving for your future doesn’t have to be complicated. A Registered Retirement Savings Plan (RRSP) is one of the most powerful tools Canadians have to grow their money and save on taxes — and Prosperity Credit Union is here to help you make the most of it.
Every dollar you put into an RRSP today does double the work: it helps lower your taxes now and builds a stronger retirement for later. The sooner you start, the bigger the advantage — thanks to tax savings, investment growth, and the power of time on your side.
An RRSP (Registered Retirement Savings Plan) lets you deduct your contributions from your taxable income today, which can help reduce your tax bill. Plus, your savings grow tax-deferred until you’re ready to enjoy them in retirement — when you might even be in a lower tax bracket.
At Prosperity Credit Union, we’re your local partner for smart saving. Our team knows the options that fit real life here at home — from flexible savings accounts and term deposits to mutual fund investments*. We make it easy to start, easy to understand, and easy to feel confident about your future.
Big dreams start with small steps. Let’s take the first one together.
*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.