Financial Services

Our Financial Services team helps credit unions expand their product offerings. Through Central 1 Financial Services and our federally regulated Central 1 Trust Company, we provide cost-effective financial products that meet members' needs for value, service and selection.

On behalf of credit unions, we:

  • Provide Trustee and Administrative Services for Registered Plans
  • Supply information support and/or training for all Registered Plans
  • Act as the authorized sales agent for Canada Savings Bonds
  • Sell Index-Linked Term Deposits

Deposit & investment products

Our line of flat-fee investment products, with deposits that stay within individual credit unions, include:

  • Registered Retirement Savings Plans (RRSPs)
  • Registered Education Savings Plans (RESPs)
  • Group Retirement Savings Plans (GRSPs)Man standing in office
  • Self-Directed Retirement Savings Plans (SDRSPs)
  • Tax-Free Savings Accounts (TFSAs)
  • Registered Disability Savings Plans (RDSPs)
  • Registered Retirement Income Funds (RRIFs)
  • Locked-In Retirement Accounts (LIRAs)
  • Life Income Fund (LIFs)
  • Locked-In Retirement Income Funds (LRIFs)

Index-linked term deposits

Based on the S&P/TSX 60 Index, this product is offered to credit unions to sell to their members. They offer the potential for a higher return than other fixed-rate deposits; however, there is no guaranteed return. If you have purchased a three-year or five-year Central 1 term deposit from an Ontario credit union, you can check the daily return rates by clicking the links below.

Support services & training

  • In addition to offering products, we also ensure that credit unions meet regulatory requirements and have access to support services and training. Specifically, we:
  • Develop and maintain trust documents for registered plans that meet Canada Revenue Agency requirements Develop provincial lock-in agreements for RRSPs and RRIFs
  • Create monthly reports
  • Process transactions for registered products
  • Collect, remit and reconcile credit unions' withholding tax
  • Provide custodial services by participating in the Canadian Depository for Securities
  • Produce contribution receipts for Canada Revenue Agency
  • Serve as an online connection for government grants
  • Provide training and technical support for registered investment products

  Get in touch  |  1.800.661.6813 ext. 5358  

 

Credit unions come to us for their registered products