Term Deposits


If you're looking for a safe place to keep your money and watch it grow, then a Term Deposit may be just what you need. Don't Be a Kevin




HOW CAN YOU BENEFIT?

  • You can generally earn a higher interest rate by placing your money in a Term Deposit than you do in a savings account. Typically, the longer you commit to leaving your money in the Term Deposit, the higher the interest rate you will receive.
  • You can choose how accessible you want your money to be. We have a variety of non-redeemable terms from 1 - 5 years as well as a redeemable option.
  • You can rest easy knowing that your Term Deposit with Encompass Credit Union, as well as the interest you earn, are both 100% guaranteed by the Credit Union Deposit Guarantee Corporation.

We have both redeemable and non-redeemable Term Deposit options so you can choose the option that suits you best.

Learn More about the Types of Term Deposits

TYPES OF TERM DEPOSITS


SETTING UP A TERM DEPOSIT

Come on in and one of our exceptional staff will talk to you about your short and long term investment goals, the pros and cons of each product and help you figure out which one suits you best.

Once your investment has matured and you want to redeem your Term Deposit, you simply need to call us and we'll transfer the money to your chequing account or savings account where you can access it immediately.

REDEEMING YOUR TERM DEPOSIT


RENEWING YOUR TERM DEPOSIT

Just before maturity, you will receive a renewal notice. You can then decide how you would like to re-invest your money whether you roll it over into the same investment for another term or choose a different term deposit.

RESOURCES

 

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