First Home Savings Account (FHSA)

Why an FHSA is Basically the Perfect Love Story

Alright, imagine this: The TFSA and the RRSP meet at a financial conference. Sparks fly. They realize they have so much in common—tax advantages, helping Canadians save money, making dreams come true. One thing leads to another, and boom! The First Home Savings Account (FHSA) was born. The ultimate power couple’s financial lovechild.

At Prosperity Credit Union, we know a good deal when we see one and trust us—the FHSA is a total catch. It takes the best traits from its parents (TFSA’s tax-free withdrawals and RRSP’s tax-deductible contributions) and combines them into the ultimate savings powerhouse for first-time homebuyers.

Why The FHSA is a Game-Changer

Pregnant couple, arm in arm, holding a "SOLD" sign.

Fast-Track to Homeownership

Your savings grow faster because taxes aren’t eating away at your hard-earned cash.

Mother and child reading a book together.

No Commitment Issues

You have up to 15 years to use it, so there’s no rush.

Woman painting wall blue; boxes and plant in room.

Works Well with Others

You can pair it with the RRSP Home Buyers’ Plan and other incentives for even bigger savings.

Is the FHSA Your Perfect Match?

If you’re between 18 and 71, a Canadian resident, and don’t own a home yet—congratulations, you’re the ideal match. Even if homeownership feels like a distant dream, starting now gives you a major advantage.

How to Start This Love Story

Opening an FHSA at Prosperity Credit Union is easier than swiping right. We’ll walk you through the process, answer all your questions, and help you get started on the path to homeownership.

So why wait? Let’s make this a love story for the ages. Stop by the branch, give us a call, or book an appointment and let’s get your FHSA set up today.

Your future dream home is waiting!

Get Your FHSA Started