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TERM DEPOSITS / GICs
WHAT ARE TERM DEPOSITS?
Term deposits, also known as GICs, are low risk investments that are well suited for short-term savings goals and can also fit in your long-term investment plans.
Redeemable
Earn a guaranteed rate of return with the flexibility to access your money at any time after 30 days.
Non-Redeemable
Lock your savings in for a set length of time. Your interest rate is fixed for the term, no matter what the market is doing.
Market-Linked
Get a guaranteed minimum return with the potential to earn higher returns based on the stock-market .
Benefits of Term Deposits
Safe and Secure
Your original deposit and interest rate are guaranteed†, just like they would be in a regular savings account.
Flexible
Choose the term length you want and whether to lock in your money or have easy access to it anytime.
Low Minimum Deposit
$500 is all it takes to get you started and there are no maximum deposit limits.
Convenient
Term deposits are ideal when you don't have immediate plans for your money, but want to start earning a return nonetheless.
Tax-Friendly
Most of our term deposits can be held within a registered plan, like an RRSP or a TFSA.
Higher Return
Term deposits have higher interests than most savings accounts. And with a fixed rate, you'll know exactly how much you'll earn.
TERM DEPOSIT OPTIONS
NON-REDEEMABLE
REDEEMABLE
MARKET-LINKED
RATES
winwin® TERM DEPOSIT / GIC
Invest in the market with peace of mind. winwin® is a market-linked term deposit/GIC ideal for those seeking higher returns than a traditional term deposit without risking their principal investment in the stock market.
All of our market-linked term deposits offer:
- Term lengths of 3 or 5 years
- 100% principal guarantee – at minimum, your initial investment will be returned to you at the end of the term
- Low $500 minimum deposit with no maximum limit
- Guaranteed minimum return
- RRSP/TFSA eligible
- No commission or management fees
- Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.†
Choose your market-linked GIC:
An investment linked to 8 equally weighted major Canadian financial & insurance institutions.
Investment linked to 20 international companies, carefully screened for demonstrated commitment to reducing the environmental impact of their operations.
winwin® Financial Services and winwin EarthLink™ are trademarks of First West Credit Union.
You can purchase 12-month non-registered cashable term deposits as well as all 1 to 5 year non-registered non-redeemable terms online. It's simple, just log in to online banking and select 'Open an Account'. Contact us to purchase any of our registered term deposit products.
Featured Term Deposit Rates
| FEATURED TERM DEPOSIT RATES | Rate |
|---|---|
| StepUp® 6Plus6 - first 6 months |
1.00
|
| StepUp® 6Plus6 - second 6 months |
6.00
|
| StepUp® 6Plus6 - average rate |
3.50
|
| 1-Year Non-Redeemable Term Deposit |
5.00
|
| 3-year PRIMECONNECT® Redeemable Term Deposit |
5.50
|
Registered Term Deposit Rates
| Cashable Term Deposits (Registered) | Rate |
|---|---|
| 12-month cashable (redeemable after 30 days) |
3.25
|
| StepUp® 6Plus6 - first 6 months |
1.00
|
| StepUp® 6Plus6 - second 6 months |
6.00
|
| StepUp® 6Plus6 - average rate |
3.50
|
| StepUp® 9Plus9 - first 9 months |
1.00
|
| StepUp® 9Plus9 - second 9 months |
6.50
|
| StepUp® 9Plus9 - average rate |
3.75
|
| StepUp® 18Plus18 - first 18 months |
1.00
|
| StepUp® 18Plus18 - second 18 months |
7.00
|
| StepUp® 18Plus18 - average rate |
4.00
|
| Short-Term Non-Redeemable Term Deposits (Registered) | Rate |
|---|---|
| 30-59 days |
0.45
|
| 60-89 days |
0.55
|
| 90-119 days |
0.65
|
| 120-179 days |
0.75
|
| 180-269 days |
3.05
|
| 270-364 days |
3.25
|
| Long-term Non-Redeemable Term Deposits (Registered) | Rate |
|---|---|
| 1 year |
5.00
|
| 2 year |
4.50
|
| 3 year |
4.50
|
| 4 year |
4.50
|
| 5 year |
4.50
|
Non-Registered Term Deposit Rates
| Cashable Term Deposits (Non-Registered) | Rate |
|---|---|
| 12-month cashable (redeemable after 30 days) |
3.25
|
| StepUp® 6Plus6 - first 6 months |
1.00
|
| StepUp® 6Plus6 - second 6 months |
6.00
|
| StepUp® 6Plus6 - average rate |
3.50
|
| StepUp® 9Plus9 - first 9 months |
1.00
|
| StepUp® 9Plus9 - second 9 months |
6.50
|
| StepUp® 9Plus9 - average rate |
3.75
|
| StepUp® 18Plus18 - first 18 months |
1.00
|
| StepUp® 18Plus18 - second 18 months |
7.00
|
| StepUp® 18Plus18 - average rate |
4.00
|
| Redeemable Term Deposits (Registered/Non-Registered) | Rate |
|---|---|
| 3-year PRIMECONNECT® |
5.50
|
| Short-Term Non-Redeemable Term Deposits (Non-Registered) | Rate |
|---|---|
| 30-59 days |
0.45
|
| 60-89 days |
0.55
|
| 90-119 days |
0.65
|
| 120-179 days |
0.75
|
| 180-269 days |
3.05
|
| 270-364 days |
3.25
|
| Long-Term Non-Redeemable Term Deposits (Non-Registered) | Rate |
|---|---|
| 1 year |
5.00
|
| 2 year |
4.50
|
| 3 year |
4.50
|
| 4 year |
4.50
|
| 5 year |
4.50
|
| market-linked term deposits (registered/non-registered) | rate |
|---|---|
| winwin EarthLink™ | 50.00%* |
| winwin® Financial Services | 50.00%* |
*Maximum potential cumulative 5-year rate.
| Non-Redeemable US Term Deposits (Non-Registered) | Rate |
|---|---|
| 30-59 days |
0.05
|
| 60-89 days |
0.10
|
| 90-119 days |
0.15
|
| 120-179 days |
0.20
|
| 180-269 days |
0.25
|
| 270-364 days |
0.30
|
Term deposit rates are subject to change without notice. Interest rates are per annum. Interest compounds annually. Terms and conditions apply.
winwin EarthLink™ terms and conditions / winwin® Financial Services terms and conditions
PRIMECONNECT® interest rate is per annum and is linked to the First West Credit Union prime rate.
The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all deposits. Credit union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.
†The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RRSP equity plans are not covered by deposit insurance.
From November 1, 2021, to November 21, 2021, the members of First West Credit Union voted on special resolutions that, among other things, authorize First West to apply to become a federal credit union under the Bank Act. If First West becomes a federal credit union, it will automatically become a member of the Canada Deposit Insurance Corporation (CDIC) and Credit Union Deposit Insurance Corporation of British Columbia deposit insurance will no longer apply. See attached Notice for further detail on what this change means to your deposits with First West.
We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nations communities.
© First West Credit Union. All rights reserved.
