RESPs

 Most parents want to see their children go to college or  university.  With a Registered Education Savings Plan at the North Sydney Credit Union, you can make that dream become a reality.

An RESP is a government-approved plan for the purpose of providing post-secondary education funding for a beneficiary. 

CANADA EDUCATION SAVINGS GRANT

Human Resources and Skills Development Canada (HRSDC) provides incentive for parents, family and friends to save for a child's post-secondary education by paying a grant based on annual contributions paid into the plan.  No matter what your family income is, the government will contribute 20% annually on the first $2500 deposited into an RESP for an eligible child to the end of the year he/she has attained 17 years of age.  Depending on family income, you may qualify for additional CESG of up to 20% annually on the first $500 deposited. 

CANADA LEARNING BOND

Human Resource and Skills Development Canada (HRSDC) provides an additional incentive of up to $2,000 to help modest-income families start saving early for their child's education after high school (post-secondary education).  The Canada Learning Bond (CLB) money will be deposited directly into the child's RESP.

You will be invested in professionally-managed RESPs and we will help ensure you take advantage of all available government grants. 

To find out more about a North Sydney Credit Union RESP, please call or drop by our branch today.   

 

 

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