Tax Free Savings Account (TFSA). Your Savings Superpower!

Imagine your savings growing faster than a prairie wildfire – with no taxes slowing it down. Sounds too good to be true? It’s not! A Tax-Free Savings Account (TFSA) is like a secret weapon for your financial future, helping you grow your money tax-free and giving you the flexibility to use whenever you need.

At Prosperity Credit Union, we know how hard our members work for their money. Think of a TSFA like a greenhouse for your money. When you plant seeds (your savings), they grow into something much bigger over time. The best part? You get to keep every dollar of that growth – without paying taxes on it.

Here’s why a TFSA is a game-changer:

Your Savings Skyrocket

All your earnings - whether from interest, stocks, or other investments – grow tax free, your money compounds at a much faster rate than in a regular savings account.

Total Flexibility

Unlike an RRSP, you can take money out anytime without penalties* or tax bills. Plus, whatever you withdraw gets added back to your contribution room next year, so you never lose out.

Save for Anything

A vacation? A home renovation? A safety net? A TFSA lets you save whatever you want, whenever you want.

Start Small, Grow Big

Even small contributions add up over time. Because your money isn’t getting chipped away by taxes, every dollar works harder for you.
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Who Should Open a TFSA?

Simple answer: everyone (over the age of 18)! Whether you’re just starting out, growing your nest egg, or enjoying retirement, a TFSA fits into every stage of life. It’s especially powerful for young savers who have time to let their money multiply, but it’s just as beneficial for retirees looking for tax-free income.  

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How to Get Started

At Prosperity Credit Union, we make it easy to open a TFSA and start putting your savings superpower to work.  

Whether you have questions or just want to set one up, we’re here to help.  Stop by the branch, give us a call, or book an appointment to chat about how a TFSA can help your savings take off. 

Why wait?  Start growing your money – tax free – today!

Expert Advice

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Personal Investments

TFSA vs RRSP

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Small but Mighty: The Power of Saving with a TFSA

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Personal Accounts

Automate Your Savings

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Manage your Account

Make payments, view your balance and manage your accounts from where you want, when you want with our easy-to-use online services.