Term Deposits

Term deposits, also known as GICs, are a savings vehicle.  See the below term deposit types to find the best fit for your financial needs.

Long-Term Term Deposit

Investing in term deposits give you a secure way of locking in a rate of interest.  With these fixed rate, non-redeemable investments you receive the highest rate possible without having to worry about reinvesting every few months. 

Term deposits at a glance:

  • Term/Duration of 180 days to 5 years
  • The minimum investment for this product is $500
  • At maturity, you can reinvest, invest in another term deposit, or withdraw the funds

Eligibility includes: RRSP, RRIF, TFSA

Contact your branch  for more information.

Index Linked Term Deposits

TMECU offers S&P/TSX* 60 index-linked term deposits.  This account has a principal guarantee yet offers Members ability to participate in upside movements in the S&P/TSX 60 index. 

An index-linked term deposit is right for Members who:

  • Are looking for an equity-linked deposits with a principal guarantee that offers the potential for a higher return than that of fixed rate investments
  • are looking for an equity-linked investment that carries no fees or commissions
  • Are searching for a diversified investment in Canadian corporations
  • Are not willing to risk their initial investment

Eligibility includes: RRSP, TFSA

Contact your branch for more information.


Escalating Rate Term Deposits

The escalating rate term deposit offers guaranteed returns and rates that increase each year.

You deposit funds with us for 3 or 5 years at guaranteed interest rates.

Features include:

  • increasing rate each year of the term
  • interest is compounded annually and paid at maturity
  • minimum investment of $500

Eligibility includes: RRSP

Contact your branch for more information.



* "Standard & Poor's®" and "S&P®" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Credit Union Central of Ontario and sublicensed by the Credit Union.  "TSX" is a trademark of the Toronto Stock Exchange and has been licensed for use by Credit Union Central of Ontario and sublicensed by the Credit Union.  The Index-linked term deposits are not sponsored, endorsed, sold or promoted by Standard and Poor's or the Toronto Stock Exchange and neither party makes any representation regarding the advisability of investing in these deposits.


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