Registered Education Savings Plan
A Registered Education Savings Plan (RESP) is a government approved plan for the purpose of providing post-secondary education funding for a beneficiary. Income earned within the plan is not taxed until it is withdrawn. Under the Canada Education Savings Grant (CESG) program, the government pays a grant of 20% on your 1st $2500.00 RESP contribution each year, per beneficiary, up to age 17.
A Credit Union Registered Education Savings Plan is the smart way to save for your family’s future. A post-secondary education is critical in an increasingly competitive job market. Each year, fewer high school graduates are in a position to afford to continue their education. With the costs of higher education increasing almost every year, early planning is essential. Let Strathclair Credit Union help you invest for your family’s education.
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