Set up an RESP 2 Line of Credit 2 RRSPs Get There Faster 3 New Cheques 4
RRSP FUND –
Save Big Time
Take The Leap And Contribute More Dreaming of a
Did you know the annual RRSP Whatever you choose to do, it’s always
contribution limit is growing in leaps quick and easy with the help of your vacation?
and bounds? This year, the top limit has Member Service Officer and the expert We’ll make it fly!
risen from $16,500 to $18,000 and in five assistance of our Investment Advisor. Looking for a smart,
years it will be as high as $22,000. While We offer the full range of options that sensible way to make
most Canadians don’t have that kind of any other major financial institution your getaway during
extra cash around to tuck away each year, has, including term deposits and mutual these cold, dreary
it is a sign that, perhaps we should be funds through Credential Securities Inc. months?
making an effort to contribute more to and Credential Asset Management Inc.
ensure we’ll truly be able to enjoy our Bring those sunny travel brochures in
retirement years. In fact, the average today and talk to us about a low rate,
2 Minutes To Tax Savings vacation loan. It’s the better way to
Canadian contributes about $4,800
annually according to Statistics Canada. Our 2-Minute RRSP and RRSP Loan pay, because we’ll tailor the payments
Applications provide you with the fastest, to suit your budget and you can avoid
most convenient way to complete your excessive credit card rates. So you can
How can you save more this year? 2006 contribution. You’ll find 2-minute be relaxing on the beach or ski slopes
The Police Credit Union is ready to help! applications in branch or online at soon, knowing it’s a well-deserved
The easiest way to contribute each and tpcu.on.ca. break that won’t be breaking the bank.
every year is through automatic payroll
There are so many reasons to contribute
deductions. It’s out of sight and out
as much as you can to your RRSP,
Pack Peace of Mind too!
of mind, and saves you the hassles of The Police Credit Union also offers
including greater tax savings and a
coming up with a big chunk of cash value-added travel insurance
bigger retirement fund. Plus, remember,
when the deadline rolls around. If you’ve through CUIS at exceptional prices,
there are added benefits like using RRSPs
already got automatic deductions, with excellent perks. For a FREE
as a down payment on your first home
why not consider increasing it this year? quote, call 1.800.561.2557 or
through the HomeBuyer’s Plan or to
Often members choose to put their 416.226.3353 and find out what
further your education through the
raises directly into RRSP savings – a great deal they offer.
Lifelong Learning Program.
what you don’t see, you won’t miss!
Remember – Thursday, March 1 is the deadline! >> RRSP TIP: How much can you
contribute this year? Just check the
Compare rates – Earn more at your Credit Union! Notice of Assessment you got from
Years Police CU Police CU Royal Scotiabank* TD Canada the Canada Revenue Agency last
REWARDS* Regular* Bank* Trust* year. Or phone the T.I.P.S. line, a free
One 4.00% 3.65% 3.00% 2.90% 2.90% automated tax information phone
service, at 1-800-267-6999. You will be
Five 4.05% 3.70% 3.15% 3.15% 3.15%
asked to provide your social insurance
* Posted term deposit rates as of November 28, 2006; subject to change without notice. Some terms & conditions apply.
number, your month and year of birth,
and the total income you reported on
line 150 of your 2005 return.
To set up an RESP, start here.
grants help you invest in
your child’s education
Free money from the government? It’s well worth it to start an RESP as soon Canada and around the world. While
No wonder so many parents are using as possible. Unused grant room can be you’re saving for your children, it’s nice
Registered Education Savings Plans to carried forward from 1998, so an older to know your investments are working to
save for their children’s post-secondary child can qualify for retroactive grant make the future brighter for all children.
education. When parents set aside money money if you make catch up payments. Read more at www.ethicalfunds.com.
in an RESP, the federal government
Grant money is paid directly to your Speak to a Credential Asset Management
sweetens the deal through a generous
RESP, which can hold cash, term Inc. Mutual Funds Investment Specialist
grant program. With the skyrocketing
deposits, mutual funds and other to find out how easy it is to set up an
cost of post-secondary education, parents
securities. Earnings on your RESP for your child.
(and kids) need all the help they can get.
contributions and on the grant money Mutual funds are offered through
Unlike the RRSP contribution deadline, grow tax sheltered inside the plan. Credential Asset Management Inc. and
which is March 1st, the RESP mutual funds and other securities are
For more information, visit the
contribution deadline is December 31st. offered through Credential Securities Inc.
official CESG website at Commissions, trailing commissions,
And while it’s too late to contribute for
www.hrdc-drhc.gc.ca/cesg or call management fees and expenses all
2006, this is the perfect time to start an
Peter Giftakopoulos at 416.224.6708 may be associated with mutual fund
automatic savings program to make
or e-mail him at email@example.com. investments. Please read the prospectus
sure you maximize your 2007 RESP before investing. Unless otherwise stated,
contribution. Why choose Ethical Funds
cash balances, mutual funds and other
for your child’s RESP? securities are not insured nor guaranteed,
It’s called the their values change frequently and
Canada Education Savings Grant You can open a well-diversified socially past performance may not be repeated.
responsible RESP with The Ethical Credential Securities Inc. is a
Under the CESG program, the
Funds Company™. Ethical Funds Member - CIPF.
government pays a 20% bonus on the
compete with other mutual funds when ® Ethical Funds is a registered mark
first $2,000 in annual RESP contributions
it comes to helping you obtain a good owned by Ethical Funds Inc. and is
for each child beneficiary up to age 18. used under licence.
return. Unlike other mutual funds,
That’s up to $400 extra each year, with a ® Credential is a registered mark owned
Ethical Funds work to advance the best
lifetime grant limit of $7,200 per child. by Credential Financial Inc. and is used
social and environmental practices in
A smarter way to handle
holiday bills? A low rate line of credit!
Your December credit card bill just came (46%) were paying more interest than you’re looking for,
in and the balance is higher than you can they needed to. Carrying a balance on plus pay a lower rate,
handle with just one payment. Why pay credit cards can be a major contributor so you won’t be throwing
the inflated credit card rate when you to this problem. money down the drain.
could be cutting your interest by more
A personal line of credit from the Police Talk to your Member Service
than 50% with a low rate line of credit
Credit Union will help you ease through Officer today about all the
from the Police Credit Union?
those times when bills are higher or advantages of a low rate
A recent Ipsos-Reid survey found that sudden financial emergencies arise. line of credit. And start 2007
almost half of the people they contacted You’ll have the flexibility and control the right way!
Department store Credit cards* the Police Credit Union*
charge card* (i.e. Visa, MasterCard) PLOC Regular PLOC REWARDS
Rate Interest Rate Interest Rate Interest Rate Interest * Rates as of November 28,
2006; subject to change
29.9% $2,990 19.5% $1,950 9.25% $925 7.75% $775 without notice.
Interest amount based on a $10,000 outstanding balance for one year.
Attention First-Time Home Buyers
RRSPs can help make
it happen faster!
Retirement might seem a long ways off, minimum annual payment will be added
but owning your first home could be to your income and you will pay tax on
just around the corner. The Home that amount.
Buyers Plan (HBP) is another great
For more about all the ins and outs
reason to start contributing to an
of the Home Buyers Plan you can
RRSP as soon and as much as you can.
visit www.cra-arc.gc.ca or talk to
Since 1992, over 1.4 million Canadians your Member Service Officer today.
have taken advantage of this popular
plan which allows qualified home buyers
to withdraw up to $20,000 from an RRSP
(or up to $40,000 per couple) without Did you know?
penalty to use as a down payment on
your new home. You can educate yourself with RRSPs
To qualify for this plan, you must be
considered a first-time home buyer. It’s a program many aren’t familiar with, but it’s helped nearly 50,000 Canadians
You are still considered a first-time pursue higher education since 1999. The Lifelong Learning Plan (LLP) allows
home buyer even if you own a rental you to withdraw up to $20,000 from your RRSPs to head back to school. The
property, but you have not recently withdrawals can be for a maximum of $10,000 in any one year and can be spread
owned a property within the five years over four years. Repayment is on a 10-year schedule.
prior to applying for the Home Buyer’s For all the abc’s of the Lifelong Learning Plan, you can visit www.cra-arc.gc.ca
Plan. The money must be repaid to your or talk to your Member Service Officer today.
RRSP over the next 15 years or the
For 25 years, we’ve Pare nts and
been there for you. Gra ndpare nts!
As a member of the Police Credit Union,
Check out our new web pages for the Little Tykes
you can count on DirectProtect Group®.
Savers Club and Cool Teens Savers Scene! There’s
all kinds of new things to do while learning about
finances in their language. You’ll have fun too!
It’s another great reason to start your kids off on
the right financial foot at the Police Credit Union.
Visit www.tpcu.on.ca/youth today!
You never expect to be in an auto
accident. But if it happens, at least
April is just around the corner…
you can expect great coverage and
OneStep® 24/7 claims service from Plan to join us at the 61st
DirectProtect Group®. For a fast,
no-obligation quote on your home and Annual General Meeting of
auto insurance call 1-800-387-1963
or visit www.directprotectgroup.com
The Police Credit Union Limited
Web ID # 88156 Monday, April 30, 2007 at 7:30 p.m.
Grand Baccus Banquet and Conference Centre
Group Insurance Plans for Home and Auto*
from The Co-operators Group 2155 McNicoll Avenue, Toronto, Ontario
DirectProtect Group® and OneStep® are registered trademarks of The Co-operators General Insurance Company, used
under license. Administered by HB Group Insurance Management Ltd. *Auto insurance not available in MB, SK, BC.
Qualifying conditions apply. Respecting your privacy and protecting the confidentiality of your personal information are
Members who opened a new term
deposit before November 24, 2006 were
Member Enjoys Superior
automatically entered in the weekly
draw to win one of fifteen $50.00 travel
vouchers from Carlson Wagonlit!
Congratulations to the following
At The Credit Union
She’s worked at a credit union and at Planning For The Long-Term
T. Ormsby J. Robinson
banks, so Susan Harmsen is very good at Susan and her husband have made
K. Elgar L. Parwicki
articulating what the big differences are. smart financial moves over the years
J. Nechay K. Forde
K. Aubrey Explains Susan, “We’re here because and recognize the need to save as much
“member service” is stronger than as they can for their future.
the “customer service” you get
“Who knows what will happen to
at banks. You know your best
ATTENTION interests are always being
the economy? You can’t rely on
the government pension being
ALL MEMBERS A member for nearly twenty years now,
there when we’ll need it, so you
have to rely on yourself.”
Susan and her husband Peter (who A regular savings plan makes RRSP
Change Cheques NOW works at 52 Division), have become time a lot easier every year.
All members MUST active users of the investment and
financial planning services offered by “Originally, we were just scraping
have the newly formatted the Police Credit Union and are taking by like everybody else, so it was
cheques by May 31, 2007. full advantage of the expertise Peter hard to make an RRSP contribution.
Giftakopoulos has brought to the table. We used to take out RRSP loans
If you have a chequing account, but now we have automatic
Line of Credit or MERITline, “Peter has been really helpful deductions every pay cheque –
you need to replace your old and informative. He has the if you don’t see it, you don’t miss it.
chequebook. experience to point people in the And we certainly appreciate the
right direction. We’re not big risk tax savings each year.”
Cheques are being standardized takers. We’re in what I’d call
throughout the financial services “comfortable” mutual funds. From deciding how to invest their
industry so members must have their We’ve worked hard for our money RRSPs to long-term financial planning,
cheques replaced by May 31, 2007. so I don’t want to just toss it in Susan and her husband have discovered
the wind.” that Peter offers a wealth of knowledge.
As of June 30, 2007, old cheques
will not be accepted. “I ask a lot of questions and he
has answers. We speak to him
To order your new cheques today, Wishing all of our members quite often and he’s always happy
call your branch or the Call Centre
at 416.226.3353 or toll free at HAPPY NEW YEAR to talk to us. Right now, we’re
looking at a long-term plan because
1.800.561.2557. from your staff and Board
we want to see what our future
of Directors at the Police
will look like. Peter has made many
Credit Union. We look
helpful suggestions and given us
forward to serving you good options to think about.
in the year ahead! He’s definitely an asset to the
Serving Police Communities Throughout Ontario
3650 Victoria Park Ave., Suite 303 TORONTO BRANCH DURHAM BRANCH YORK BRANCH COLLEGE ST. BRANCH PEEL BRANCH
Toronto, ON M2H 3P7 (ATM) (DRIVE THRU ATM) (DRIVE THRU ATM) (ATM) (DRIVE THRU ATM)
General Inquiries 416-226-3353
Toll Free 1-800-561-2557 3650 Victoria Park Ave. 962 Kingston Rd. 18025 Yonge St., Unit 7 Toronto Police 85 Aventura Crt. Unit C
ExpressLine 416-223-8728 Suite 103 Pickering, ON Newmarket, ON Headquarters Mississauga, ON
Toll Free 1-800-360-8728 Toronto, ON M2H 3P7 LIV 1B3 L3Y 8C9 Room 101 L5T 2Y6
www.tpcu.on.ca (bet. Finch & Steeles) (401 & Whites Rd.) (at Bristol Rd.) Toronto, ON M5G 2J3 (at Hwy. 10 & Derry Rd.)