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Enjoy high rates and flexibility while earning even more when the prime rate increases.
3-year PRIMECONNECT®
4.75
Get the earning potential of a long-term investment with the flexibility to redeem once a year.
- Term: 3 years
- Minimum deposit: $500
- Also available for: TFSA, RRSP, RRIF and LIF
- Fully or partially redeemable only at each anniversary date
Learn more about PRIMECONNECT®
Explore more term deposit options.
StepUp® 6Plus6 - first 6 months
1.00
StepUp® 6Plus6 - second 6 months
6.00
Guaranteed growth with escalating interest rate and flexibility to redeem at any time.
- Term: 1 year
- Minimum deposit: $500
- Also available for: TFSA, RRSP, RRIF and LIF
- Fully cashable at any time.
Learn more about StepUp® 6PLUS6
Why invest in a term deposit / GIC?
Term deposits (also known as guaranteed investment certificates or GICs) are low risk investments that are well suited for short-term saving goals and can also complement your long-term investment plans. Your returns are guaranteed and your savings are more easily accessible. If you’re saving money for an emergency fund or a down payment in the next five years, a term deposit is a really great option.
Your money is secure
You can rest easy knowing that all deposits with B.C.’s Credit Unions are 100% protected†. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
Low minimum deposit
$500 is all it takes to get you started and there are no maximum deposit limits.
Built for your future
Choose a registered term deposit and delay paying taxes on the money you deposit, as well as any earnings it produces until you take it out of the plan.
Made for B.C.
Your money stays in B.C. As a financial cooperative, we use your money to help businesses grow and communities thrive.
Interested in other term deposits? Explore your options.
How to open your term deposit
Log in to online banking now to open a non-redeemable term deposit.
Let our experts get in touch to kick off the conversation or book an appointment for you at a branch.
Call us at 1-888-597-8083, our friendly advisors are ready to answer any questions you may have.
Have a question?
Send us a note and we'll reach out to you.
Need more help?
EXPERT ADVICE
Term Deposits Guide
EXPERT ADVICE
Responsible Investing with Market-linked GICs
EXPERT ADVICE
Creating a Retirement Plan
Why choose us?
Enjoy competitive rates knowing our profits are reinvested into strengthening your local businesses and community.
Learn more about the Financial Co-operative difference
StepUp® 6PLUS6 rates are expressed per tier, interest is paid at maturity.
The interest rates are subject to change without notice. Terms and conditions apply.
*The PRIMECONNECT® interest rate is expressed as an annual rate and is paid annually and at maturity. Interest rate is linked to the First West Credit Union prime rate.
†The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.
From November 1, 2021, to November 21, 2021, the members of First West Credit Union voted on special resolutions that, among other things, authorize First West to apply to become a federal credit union under the Bank Act. If First West becomes a federal credit union, it will automatically become a member of the Canada Deposit Insurance Corporation (CDIC) and Credit Union Deposit Insurance Corporation of British Columbia deposit insurance will no longer apply. See attached Notice for further detail on what this change means to your deposits with First West.
We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nation’s communities.
© First West Credit Union. All rights reserved.
