*Limited time offer; Terms and conditions apply.
GIVE THE GIFT OF A
Promising Future
Receive $200 toward an RESP!
If you’re looking for a meaningful gift for the littles in your life, they’ll receive $200* towards a Registered Education Savings Plan when they become a new member of SCCU.
What is an RESP?
A Registered Education Savings Plan (RESP) is a government assisted education savings account used to help individuals and families save for post-secondary education. The owner of the account, known as the subscriber, makes contributions to the RESP and must have a valid Social Insurance Number (SIN) when the account is opened.
Contributions and Taxable Earnings
RESP contributions are non-tax-deductible deposits that are subject to a lifetime limit of $50,000 per beneficiary. All contributions you make to the RESP belong to you. Government incentives and income earned in the RESP are sheltered from tax until they become available to the beneficiary when an Educational Assistance Payment (EAP) is made on their behalf. Although the EAP withdrawal is taxable income to the student, the good news is that they are usually in a low tax bracket resulting in little to no tax paid on the EAP withdrawal.
Don’t delay! Secure your exclusive offer today.
Please visit your local branch or book an appointment with an advisor to discuss how a RESP can help you reach your financial goals.
Call today to get started: 604-740-2662