• It's a way to save without paying any tax on your investment earnings.
• While deposits to a TFSA are not tax deductible, all investment income earned, including interest, dividends, and capital gains, will not be taxed. That means you get to keep 100 % of the interest you earned.

• Any individual who is a resident of Canada, 18 years or older and who has a valid Social Insurance Number.

• Whether you're saving to purchase a car, planning to renovate your home, looking forward to a family vacation, or just putting some money away for a rainy day, Servus Credit Union's Tax-Free Savings Account will help you get there faster.
• Use the Government of Canada Tax-Free Savings Account calculator to see what your tax savings can be.
• Click here to visit the Canadian Government's TFSA Frequently Asked Questions page.

• You can contribute up to $5,000 per year with the potential for an inflation adjustment increasing this limit in coming years.
• If you don't contribute the maximum amount, you can carry forward your unused contribution room indefinitely.

• If you want to get started, but don't have the cash on hand, a Servus Financial Advisor can help you set up a manageable monthly contribution plan.

• You can withdraw money from your TFSA for any reason, Tax-Free. Withdrawals are not subject to withholding tax or reported as taxable income.
• If you withdraw some of your savings, you can re-contribute this amount back into your TFSA at a later date without reducing your contribution room, but you do need to wait until the next year to re-contribute the money.
• Withdrawals from the TFSA will not impact your eligibility for income-related benefits or credits (i.e. Canada Child Tax Benefit and the Guaranteed Income Supplement).

The following investment options are available for your Servus TFSA:

• Tax-Free Growth Account - This high interest savings account pays a great rate of return, while still allowing you unlimited access to your money. It's a great choice to save for those unexpected expenses.
• 1 Year Redeemable GIC - Offers the security of a guaranteed rate of return with the flexibility to have access to your funds when you need them. Redeemable without penalty after 30 days.
• Closed Fixed Rate GIC - With a guaranteed rate, and your choice of terms from 1 to 5 years, you can save your money with a specific goal in mind.

• Ask any of the Servus Credit Union Financial Advisors at your branch. We're happy to help you get your TFSA set up right now, and show you how to make the Servus Credit Union Tax-Free Savings Account an indispensable part of your financial plan.