17 Jul 2023  /  2 minute read

Empowering credit unions with trusted registered financial services

Did you know that one-third of Canadians – over ten million people – are customers of local credit unions*?

Today, customers of credit unions expect the same wide range of products and services that they can find with conventional banks. As a trusted service provider to credit unions across Canada, for more than 50 years Central 1 offers registered financial products to over 130,000 customers from 70 financial institutions in British Columbia, Ontario and Manitoba**. We have recently expanded our services to Alberta.

What are registered financial products?

Registered financial products are a range of tax-deferred plans that financial institutions can offer customers to support their financial goals like buying their dream home, supporting their children’s education, providing long-term care for a child or person with a disability, or planning for a golden retirement.

How does Central 1 support?

With $3.4 billion assets under administration, Central 1’s comprehensive offerings include:

  • Registered Retirement Savings Plans (RRSPs)
  • Registered Education Savings Plans (RESPs)
  • Self-Directed Retirement Savings Plans (SDRSPs)
  • Tax-Free Savings Accounts (TFSAs)
  • Self-Directed Tax-Free Savings Accounts (SDTFSAs)
  • Registered Disability Savings Plans (RDSPs)
  • Registered Retirement Income Funds (RRIFs)
  • Self-Directed Retirement Income Funds (SDRIFs)
  • First-Home Savings Accounts (FHSAs)

As the trusted partner of choice, Central 1 provides credit unions with access to legal framework, expert guidance, regulatory compliance, estate and tax administration among many others, ensuring that credit unions have the necessary support to manage these plans.

Regardless of whether credit unions need one, some, or all of our financial services, Central 1 has comprehensive solutions to help credit unions expand their product offerings and better serve their customers today and in the future.

For more information about registered financial products and how Central 1 can support you, please contact trustservices@central1.com.

Currently, Central 1’s registered products are available in B.C., Ontario, Manitoba and Alberta. Are you an individual looking to open an RRSP, RDSP or other Registered Financial Products? Find a credit union in your community.

*The Ultimate Guide to Credit Unions in Canada 2022, Savvy New Canadians, June 2022
**Outside of B.C., Central 1 offers registered financial products via our subsidiary, the Central 1 Trust Company.