TFSA
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Tax Free Savings Account (TFSA)
Choosing to shelter a portion of your investments in a TFSA gives you added flexibility while continuing to grow your assets.
Investment income earned in the account is not taxed. However, you don’t get the same benefit of the tax deduction for the principal deposit. TFSAs keep you in control of short AND long-term needs.
Members can now use MemberDirect to make TFSA contributions to their existing TFSA savings account!
TFSAs include one free debit transaction per month plus any other service charge that may be applicable by service type.
Example:
1st transaction – member withdrawals funds from TFSA - $FREE
2nd transaction – member transfers money out of TFSA and into another account - $5
3rd transaction - member withdrawals funds from TFSA - $5
The TFSA dollar limit for 2025 is $7,000.
Example:
1st transaction – member withdrawals funds from TFSA - $FREE
2nd transaction – member transfers money out of TFSA and into another account - $5
3rd transaction - member withdrawals funds from TFSA - $5
The TFSA dollar limit for 2025 is $7,000.
