Agricultural Savings

PLAN 24® Agricultural Savings Account

Watch your money grow daily with our PLAN 24® Agricultural Savings Account. Our PLAN 24® account is designed for businesses who have balance fluctuations in their savings accounts. Interest is calculated daily, paid monthly and there are no minimum balance requirements.


  • No minimum balance required
  • No fee in-branch transactions
  • MEMBER CARD® debit card available
  • CU@HOME® Internet Banking
  • No chequing privileges


What is AgriInvest?

AgriInvest helps you manage small income declines, and provides support for investments to mitigate risks or improve market income. Your agriInvest account builds as you make annual deposits based on a percentage of your Allowable Net Sales and receive matching government contributions.

Why Should I participate in AgriInvest?

AgriInvest is simple, responsive, predictable and bankable. You can easily predict the government contribution to your account each year and have the flexibility to withdraw funds at any time.

Who can Participate?

Individuals, co-operatives and corporations are eligible if they have reported farming income (or loss) to the Canada Revenue Agency for tax purposes. Status Indians farming on reserves in Canada are eligible for AgriInvest.

How are AgriInvest contributions Calculated?

Government and producer deposits are based on Allowable Net Sales (ANS). Eligible commodities include most primary agricultural commodities except those covered under supply management (dairy, poultry, and eggs).

Sales of Eligible Commodities – Purchase of Eligible Commodities = Allowable Net Sales

Each year (as of 2013), you can deposit up to 1% of your ANS in your AgriInvest Account and receive matching government contributions.

How do I make a deposit?

You will receive a Deposit Notice outlining your deposit amount for the year. You can deposit any amount up to your Maximum Matchable Deposit by the deadline indicated on your notice. After you make your deposit, AAFC will credit your account with matching government contributions.

How can I make a withdrawal?

Your account is self managed. You have the flexibility to withdraw from your account at any time, at any of our 11 branches.

To learn more about AgriInvest, visit the program website at, call AAFC toll free at 1-866-367-8506, or contact your nearest branch.

Tax-Free Savings (TFSA)

What is a Tax Free Savings Account?

TFSA is a flexible investment account that can help you meet both your short-term and long-term savings goals.


  • Investment income in a TFSA—whether you’re earning interest, dividends or capital gains—are not taxed, even when withdrawn. This tax-free compound growth means that your money grows more quickly inside a TFSA than in a taxable account.
  • Annual contribution limit is $5,500 for 2018. This annual limit will rise along with inflation in future years, in $500 increments. In addition, you can carry forward unused contribution room indefinitely. The federal government will report your TFSA contribution room to you annually.
  • Eligibility – Any Canadian resident age 18 or older with a Social Insurance Number can open a Tax-Free Savings Account.
  • Income Requirements – You are not required to have earned income to contribute to a Tax-Free Savings Account
  • Tax Benefits – There is no tax deduction for contributing to a TFSA. However, the returns your investments generate (interest, dividends or capital gains) are not taxable (except for any foreign tax on foreign investments).
  • Withdrawals – You can withdraw money from your account at any time, (depending on what you invested in). You can re-contribute the amounts you withdrew anytime after the year of withdrawal. In addition withdrawals are tax free.
  • Investment Options – You can invest in Vanguard term deposits (1-5 years), variable deposits, and mutual funds. As well as stocks and bonds through our online broker Qtrade


  • Transfers in from other institutions and pension rollovers easily arranged
  • Variable rate deposits or fixed rate terms up to 5 years available
  • Automatic TFSA deposit transfers at varying frequencies at no fee
  • Minimum term deposits of $500
  • Competitive Rates

Click here to download the TFSA Declaration of Trust


What is a RRSP?

A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the Canadian federal government allowing you to save for the future on a tax-sheltered basis.

After the age 71 you are required to roll your RRSPs into a Registered Retirement Income Fund, this is one way to maintain control of your funds and reduce taxation. Different options are available to suit your retirement needs.

Your allowable RRSP contribution for the current year is the lower of:

  • 18% of your earned income from the previous year, or
  • The maximum annual contribution limit for the taxation year, or
  • The remaining limit after any company sponsored pension plan contributions


  • Tax Benefit – The total amount of your annual RRSP contribution can be deducted from your gross income at tax time, reducing the amount you pay in income tax that year.
  • Tax Sheltered – The income earned in your RRSP is not taxed until it is withdrawn.
  • Tax Deferred – By the time you begin to withdraw the funds at retirement, you will probably be in a lower tax bracket than during your earning years. Funds withdrawn at that time will benefit from this lower tax rate.


  • Transfers in from other institutions and pension rollovers easily arranged
  • Variable rate deposits or fixed rate terms up to 5 years available
  • Automatic RRSP deposit transfers at varying frequencies at no fee
  • Minimum term deposits of $500 (RRSP) and $5,000 (RRIF)
  • Competitive Rates



What is an RRIF?

Individuals use a Registered Retirement Income Fund (RRIF) to generate income from the savings accumulated under their RRSP. As with the RRSP, an RRIF account is registered with the Canada Revenue Agency. An RRSP is required to be converted to a retirement income option such as a RRIF by December 31 of the year in which you turn 71. However, you do have the option to convert your RRSP to a RRIF at anytime before then.


Tax–sheltered growth: Your investments will continue to grow tax–sheltered, so it keeps working for you
Control your income: You can manage the amount and the frequency of your withdrawals, subject to the legislated minimum annual payment


  • Tax–free transfer to spouse: You can pass your RRIF assets on to your spouse tax–free when you die
Flexible Investment options:
  • You have the option of converting to a more secure guaranteed income at any time


  • Transfers in from other institutions and pension rollovers easily arranged
  • Variable rate deposits or fixed rate terms up to 5 years available
  • Automatic RRSP deposit transfers at varying frequencies at no fee
  • Minimum term deposits of $500 (RRSP) and $5,000 (RRIF)
  • Competitive Rates

Vanguard Savings

A longer-term savings plan that pays a higher rate of interest than the Plan 24 account. Rates are comparable to, or better than, short-term investments without having to continuously manage contract renewals. Interest rates are based on a tiered system and are calculated on the daily closing balance,  paid monthly.


  • Tiered interest rates
  • Interest paid monthly
  • Two free debit transactions per month
  • No chequing privileges
  • CU@HOME® Internet Banking


Escrow Tax Account

When we open an escrow account for your mortgage, we use it to make payments for real estate taxes and homeowners insurance on your behalf, with funds collected as part of your monthly mortgage payment. This ensures that your bills are paid in full and on time, without you having to budget for these large payments separately.


  • Collect funds in account to pay real estate taxes
  • We receive real estate tax information directly from tax authority, otherwise we will contact you

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Vanguard Credit Union is a full-service financial institution with branches in Binscarth, Birtle, Brandon, Hamiota, Kenton, Miniota, Oak Lake, Oak River, Rossburn, Russell, and St. Lazare.

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