At Communication Technologies Credit Union, deposits are insured up to $100,000.

For further information on deposit insurance coverage, please ask for a brochure at the credit union, call DICO at 1-800-268-6653 or visit their website at www.dico.com.

Term Deposits
Your credit union offers a variety of term deposits with a guaranteed return and competitive rates. They earn higher interest than a regular savings account and are eligible for registered plan investments. Certificates range from 30 to 90 days, and in one-month increments up to one year. Two to five year terms are also available.

With a low minimum balance of only $1,000, you can began earning higher interest sooner. Interest is paid at maturity on term deposits one year and less; two to five year term deposits are paid interest semi-annually (interest compounds in the term deposit and can be paid to your savings account upon maturity). Funds withdrawn before maturity are not paid interest within the first year.

Click here to view our rate chart.

Green Term Deposits
Public pressure and the growing concern with the environment and its effect on climate change are influencing business to make changes and create strategies to improve their community. Credit Unions and organizations today are aligning with other business that share the same philosophy, reinforcing our co-operative values. As part of our commitment to being a socially responsible organization, we are proud to introduce our first green initiative to our membership in helping to reduce our environmental footprint.

Members who choose to invest in a Green Term Deposit will earn a guaranteed competitive interest rate just slightly below our most competitive rate on a one year term deposit. Members will not receive a tax receipt for their contribution; the Credit Union will be donating the difference on their behalf to projects to improve our local communities.

Mutual Funds
A mutual fund pools together money contributed by many investors, which is then invested on their behalf by professional money managers.
Your credit union offers many advantages when it comes to investing in mutual funds, including more options than many other major financial institutions and expert investment advice. Our licensed Investment Advisor will review your current portfolio statements with you, do a comparison on what you've got and what you could have, and make suggestions about how you can improve your overall performance.

Consultation services with your Investment Advisor are easy to arrange and always FREE of charge. We look forward to helping you in every way we can.

Registered Retirement Income Funds (RRIF)
The government requires that you close out your RRSPs by December 31 of the year in which you turn 71. Three conversion options are available:

1. A lump sum withdrawal from your RRSP

2. An Annuity

3. A RRIF

In making your choice, you will need to ensure adequate income to meet your retirement needs now and in the future, including lump-sum expenditures and unforeseen costs.

A RRIF gives you flexibility and control over your retirement income and investment options. A RRIF works like an RRSP in reverse; instead of putting in money each year, you withdraw money, which becomes taxable income. This leaves your principal earning interest in a tax sheltered environment for a longer period of time.

In creating your retirement income plan, Comtech offers a wide range of investments including a variable rate savings account, fixed rate GICs and mutual funds. Retirement income can be paid monthly, quarterly, or annually. Switch to Comtech from another financial institution and we’ll pay the transfer-in fee!

At Comtech, we have licensed non-commissioned Mutual Funds Representatives who will assist you in developing a comfortable retirement. Click here for more information about estate planning.

* Mutual funds and securities are offered through Qtrade Advisor, a division of Qtrade Securities Inc., member IIROC and CIPF.

** Mutual Funds are also offered through Qtrade Asset Management Inc., member MFDA.