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Registered Education Savings Plan - RESP

A Registered Education Savings Plan (RESP) is a government approved plan designed to save for your child's future education.  By starting now, you can grow your education funds by making affordable, convenient monthly deposits.  Planning today for tomorrow is the smart way to realize your family’s education goals. 


Advantages of an RESP

  • The Canada Education Savings Grant (CESG) is available to eligible RESP beneficiaries and is based on the annual contribution paid in the plan. The Federal government will contribute 20% annually on the first $2,500 deposited into an RESP to the end of the year in which the beneficiary attains age 17.

  • Additional Government Incentives may be available  to help grow your education funding.

  • Income earned within the plan is not taxed until it is withdrawn.

  • Individual or Family Plans are available.

  • Options are available if your child chooses not to attend post-secondary school.


Educational Assistance Payments (EAPs)

Educational Assistant Payments (comprised of interest and funds received from the government) may be withdrawn from the plan once the beneficiary has enrolled in a qualifying post-secondary institution – these payments are taxable to the beneficiary.


Contributions may be withdrawn and payable to the  beneficiary or the subscriber without consequence once the beneficiary has enrolled in a post-secondary institution.


We offer a variety of smart investment options that can assist you in maximizing your RESP contributions.

RESP: Variable Rate Deposits

Redeemable at any time

Automatic RESP contributions available








RESP: Cashable 1 year Fixed Deposits

Minimum Deposit $5000

Redeemable at any time

Competitive rates guaranteed for the term


RESP: Fixed Term Deposits

Minimum Deposit $500

1 - 5 year terms

Non-redeemable prior to maturity

Competitive rates guaranteed for the term


RESP: Mutual Funds

Offered through Credential® Asset Management


Contact us today to find out how you can begin saving for your child's education today!

 Your child needs a Social Insurance Number (SIN) to qualify.

Automatic RESP Contributions are a convenient way to take advantage of an RESP investment, spreading the cash outflow throughout the year. You simply have an affordable automatic transfer set up from your account to your RESP contract for a frequency that best suits your financial position(ex: mnthly, wkly, etc.).

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