Newsletter
Do You Want to Retire? Are You Ready to Retire?
At OECU we have a common sense approach to help you ensure your family’s retirement portfolio is maturing along with you. Most Educational Employees have limited contribution room to invest in individual or spousal RRSP’s however, if your spouse has income they should have an OECU RRSP in their name. This is a great year to top up any available RRSP contribution room you or your spouse may have with our RRSP Maximizer loan at Prime.
OECU Tax Free Savings Account (TFSA)
No RRSP room to contribute? You can still deliver a knockout punch to the taxman! You’ve already paid taxes on your hard earned money! Why not protect the interest it earns so you won’t get taxed again?
- Contribute up to $5,000 each year. We can easily do this via payroll deduction.
- Choose from a range of investments like mutual funds, savings accounts and various GIC’s.
- All the income (interest, dividends and capital gains) earned in your
- OECU TFSA are tax-free for life.
- You can withdraw from your TFSA at any time*, for any reason and all withdrawals are tax-free.
Another Benefit to being a Member of OECU...
Preferred Group Home and Auto Insurance provided to you through our long term association with HUB International of Ontario (HUB). HUB is committed to helping keep your costs reasonable and ensuring you have sufficient coverage for your home, auto and other possessions.
Tips on keeping your insurance premium down:
- Take advantage of your preferred group rates through HUB.
- Get overdraft protection on your Credit Union
account to avoid NSF’s and cancellations for non-payment. Having
these on your insurance
history can affect your rating and eligibility for some companies. - Review your payment options. Some companies charge a fee, up to 3% of your premium, for paying in installments.
- How old is your vehicle? Older vehicles do not always require the same amount of coverage as a newer vehicle.
At HUB, you have the benefit of having a dedicated service team, claims counseling, several payment options and over 20 companies to choose from.
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