Pre-Authorized Contributions

A Pre-Authorized Contribution is a regularly-scheduled transfer that's set up to add to a savings plan, usually an RRSP or TFSA. This is often the simplest and most convenient way to begin and grow your savings. Put money away for a down-payment on your first home, your child's education, your retirement, or any big life event. 

How it works

Set your own contribution schedule. You decide if you're going to contribute weekly, biweekly, semi-monthly, monthly, quarterly, semi-annually or annually. Match your contributions to your payroll schedule, so that your savings are put aside automatically.

Start small. Regular contributions can be as little as $25; increase them when you can afford to save more.

Use ACU to save. You can set up a transfer from another financial institution into an ACU account, with funds automatically going in to an ACU RRSP or TFSA. Talk to us; we have RRSP and TFSA options that'll suit your present financial situation, with flexibility to meet your future needs.

Earn compound interest. Why wait until you have a big lump sum of money to invest? By starting early and investing regularly, the interest you earn becomes part of your investment, so your interest starts earning interest, too.

Make contributions to your RRSPs and TFSAs online, and withdraw money from your TFSA as well. Learn how to set up transfers online here: Transfers Between Your Accounts 

Already a member with an RRSP or TFSA and a savings or chequing account with an automatic deposit? Call us, and we can set up your Pre-Authorized Contributions over the phone. We're always here to help our members' money grow.

 

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