Motor City Community Credit Union offers you a wide variety of investment services to suit your specific wants and needs. If you are looking for Term Deposit, RRIF, RRSP, or Tax Free Savings information our knowledgeable staff can help you.

Term Deposits Expand/Collapse

About Term Deposits

Term deposits are investments which earn you a fixed rate of interest when you deposit your money for a specified period of time (term). Motor City Community Credit Union provides competitive rates for both short and long term deposits.

Our members also feel at ease knowing their principal and interest is guaranteed up to a maximum of $100,000 in non-registered accounts.*

Short Term Deposit: A non-redeemable savings certificate with a fixed interest for a specified term (20 to 364 days).

Term Deposit: A savings certificate which earns a fixed interest rate for a specified term (1 to 5 years). There is no withdrawal privilege prior to maturity.

*Principal and interest is guaranteed by the Deposit Insurance Corporation of Ontario (DICO). The role of DICO is to protect depositors of Ontario credit unions. Deposit insurance is part of a comprehensive protection program in all Ontario credit unions which is backed by provincial legislation. If you would like to know more about DICO or have a question about the insurance of your deposits, please contact DICO at 1-800-268-6653 or visit their website

Index-Linked Term Deposits Expand/Collapse

If you are thinking of getting back into the investment market, but want the security of a term deposit with stock market gains, an Index-Linked Term Deposit is an excellent investment option.

Index-Linked Term Deposits offer unlimited earning potential with zero risk to your principal investment. Your investment will be locked in for a pre-determined period and linked to stock market performance. Returns are calculated based on the S&P/TSX 60 Index*, which tracks sixty foremost companies in leading industries in Canada.

You should consider investing in Index-Linked Term Deposits if you:

  • Are looking for an investment where the principal is guaranteed
  • Want the potential return from the stock market
  • Are interested in an investment that offers the potential for a return higher than a term deposit
  • Accept that at maturity, there is a chance that you may only receive your principal investment amount with no return
  • Will not need to access your principal for the term of the deposit

Features and Benefits:

  • Low minimum deposit of $500.00
  • No commissions, management or administration fees
  • Unlimited potential
  • Choice of 3 or 5 year terms
  • Not redeemable prior to maturity
  • RRSP/TFSA eligible
  • Depositors are 100% protected by the Deposit Insurance Corporation of Ontario (DICO)
Track ILTD here: 5 year or 3 year

Index-Linked Term Deposit Info Sheet

*Standard & Poor’s®” and “S&P®” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Central 1 Credit Union and sublicensed by the Credit Union. “TSX” is a trademark of the Toronto Stock Exchange and has been licensed for use by Central 1 Credit Union and sublicensed by the Credit Union. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s or the Toronto Stock Exchange and neither party makes any representation regarding the advisability of investing in these deposits.

Mutual Funds Expand/Collapse

Mutual Funds provided through Manulife Securities Investment Services Inc.*

Manulife Securities Investment Services Inc. provides clients with a comprehensive suite of investment products and services designed to address a wide range of financial needs. Working closely with one of our advisors, you can select from a broad spectrum of quality investment products and services. Manulife Securities Investment Services Inc. is a mutual fund dealer regulated by the Mutual Fund Dealers Association of Canada (MFDA).

*Manulife Securities Investment Services Inc. is a member MFDA IPC. Please note that MFDA IPC coverage is not available to residents of Quebec.

RRSPs Expand/Collapse

RRSP Banner
Make the right decision for you.

Planning for your retirement years does not have to be difficult. With the help of a Motor City Community Credit Union financial specialist you will not only reduce taxes but increase your financial security.  Visit your local branch to discuss RRSP basics and much more.

As of October 1, 2009, the Deposit Insurance Corporation of Ontario (DICO) fully insures all deposits made to registered savings plans with no limit on the maximum amount.  Deposits held in registered savings plans are separately insured form deposits held in other accounts.  Registered Savings Plans include RRSP, LIRA, LIF, RDSP and TFSA.

All RRSP annuitants please be aware that there is an updated Declaration of Trust that can be found here.

Considering a Spousal RRSP? Know the Basics

A spousal RRSP is a strategy where one spouse makes the contributions, but the other spouse “owns" the plan.

A Spousal RRSP might be a good plan for you if:

  • You have been making significant contributions to your RRSP over the years and are concerned about the taxes you will pay at retirement.
  • You are worried that your spouse many not have enough retirement income.
  • To check if you and your spouse are on track for retirement, please use the Retirement Planner calculator:

Retirement Planner

With a Spousal RRSP, usually the individual who will have the higher retirement income (through company pension, CPP, etc.) refrains from maximizing his/her own RRSP and instead contributes to a Spousal RRSP.  Upon retirement, income from the Spousal RRSP is paid to the spouse, ensuring a more independent lifestyle for that partner.

Speak to your Motor City Community Credit Union financial specialist today to find out why you should invest in a Spousal RRSP.

RRIFs (Registered Retirement Income Funds) Expand/Collapse

A RRIF is a retirement fund that you establish and that we register in order to provide income during your retirement.  You transfer property into a RRIF from a Registered Retirement Savings Plan (RRSP), Registered Pension Plan (RPP) or from another RRIF.

With a RRIF,you decide the amount and frequency of income you receive.  Motor City Community Credit Union offers the following investment channels for your RRIF:

  • Term Deposits
  • Mutual Funds
  • Online Brokerage
  • Full Service Brokerage

Please click here to use the RRIF calculator.

All RRIF annuitants please be aware that there is an updated Declaration of Trust that can be found here.

Online Brokerage Expand/Collapse

Qtrade Investor Online Brokerage

We are pleased to partner with Qtrade Investor - Canada’s leading independent online brokerage. Qtrade Investor has been named the best online brokerage in Canada by The Globe and Mail in their 2016 survey.

Whether you currently use an online broker or are interested in doing so, Qtrade Investor is our online brokerage of choice. Qtrade Investor offers you, among other things:

  • Market-leading service and support – Qtrade Investor has been rated the #1 online broker in Canada by The Globe and Mail for the past four consecutive years.
  • A full range of investments including stocks, options, and fixed income securities.
  • Comprehensive investment tools and research, news, real-time quotes, portfolio watchlists, email alerts and more.
  • Low trading commissions.
  • Easy electronic funds transfer to and from your chequing account.

For more information or to open an account, click on the above logo.

Qtrade Investor is a division of Qtrade Securities Inc., member IIROC and CIPF.

Full Service Brokerage Expand/Collapse

Manulife Securities®*

Motor City Community Credit Union members have access to a Manulife Securities who will provide financial solutions uniquely designed for the individual member.
Manulife Securities is committed to help you build a long-term financial plan.

*Manulife Securities and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and are used by it and its affiliates including Manulife Securities Incorporated, Manulife Securities Investment Services Inc. and Manulife Securities Insurance Inc.


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