Valley First

BCTES Grant to Help Jumpstart College Savings

New training and education savings grant will help jumpstart college savings funds says Valley First

January 12, 2015

Penticton, B.C.—Today’s announcement by the B.C. government that it has reached a formal agreement with the federal government to introduce the B.C. training and educations savings (BCTES) grant is good news for families looking to start saving for their children’s post-secondary education.

“Many families with children know just how hard it is to kick-start an education savings plans,” says Valley First’s Paulo Araujo. “Yet, with the steady rise in education costs, it’s essential to start saving as early as possible. The BCTES is a great way to get a jump on savings and, in the process, establish a solid education savings plan.”

The provincial government’s BCTES plan is a one-time grant of $1,200 to eligible children to help their families plan and save early for post-secondary education or training programs. The grant is available to families whose children were born in 2007 or after and are beneficiaries of a registered education savings plan (RESP) with a participating financial institution such as Valley First. With the formal agreement signed between the federal and provincial government, Valley First will work to ensure the program is available in August 2015.

About Valley First

Valley First, a division of First West Credit Union, offers British Columbians throughout the Okanagan, Similkameen and Thompson valleys innovative products, an extensive branch network and local decision making. A leading employer in the region, the credit union also provides community investment with its signature cause Feed the Valley, which raises food, funds and awareness for food banks where Valley First operates.

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