Let the success of prairie industry work for you!
PRAIRIES BASKET™ Equity-Linked Term Deposit blends a guaranteed investment product with the capacity to generate market-like gains. Investors have the potential to achieve an excellent return with the comfort of knowing there is no risk to their principal! This five-year investment is linked to the performance of a basket of 13 prairie company stocks.
Potential Owners
Suitability: This term deposit provides opportunity but may pose risks, and is designed for individuals hoping to earn a higher rate of return than traditional deposits (such as fixed rate guaranteed investments) but who are willing to accept the risk of earning no return or a minimum return while having their principal guaranteed. Neither the Credit Union, Credit Union Central of Saskatchewan ("SaskCentral") or their agents or sponsors make any representation or warranty, express or implied, to the owner of the deposit or any member of the public regarding the suitability of investing in securities generally or in this Index-Linked Term Deposit specifically or the ability of the Credit Union, SaskCentral or their agents to track stock market performance.
Potential owners may be:
- 18 and older for TFSA and non-registered term deposits
- 26 up to 71 year olds for RRSP deposits
- 26 to 39 year olds, plus grandparents for RESP deposits *
- Age 71 + for RRIF investments **
*Not all credit unions participate in the CUDP RESP program with Concentra Financial.
**Index/equity linked products are RRSP and RRIF eligible; however, RRIFs should only be set up if the member has other non-linked RRIF monies to satisfy their payments. Just because it is eligible as a RRIF, it does not mean that your credit union must offer it this way. There are several things to consider. For more information on RRIF Index-Linked term deposits, please contact your credit union.
Features
- Five-year term deposit
- Non-redeemable
- Linked to the performance of a basket of 13 stocks from Alberta, Saskatchewan and Manitoba companies
- Offered monthly at RSP season and quarterly the rest of the year
- Currently, Maximum Return Cap applies
- Return calculated on monthly averages throughout length of term
- If average basket value is less than when originally purchased, no interest is paid
- Suggested minimum deposit $500
- Eligible for RRSP/RRIF/RESP/TFSA/non-registered investments
- Qualify for “locked-in” registered plans
Benefits to Owners
- No risk to principal investment
- Potential return significantly higher than traditional term deposits
- Low minimum deposit
- No management fees
- Funds stay on deposit at credit union
- Benefit from companies that are “close to home”
- Provincial deposit guarantee applies
For more information, please contact us at 1.866.403.7499, select 1 for Market Solutions.
™ PRAIRIES BASKET is a trademark owned by Credit Union Central of Saskatchewan.
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