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Registered savings accounts

Registered GICs

What you need to know

Your motusbank Registered Savings Account will be moved to a Coast Capital Registered High-Interest Savings Account(HISA). To continue to give you value on your savings, you’ll keep the same interest rate on account balances moved from motusbank on October 31 for 12 months until October 31, 2026. At the end of the 12-month period, the interest rate will revert to the posted Coast Capital interest rate.  

  • Updated depository agreements for your registered plan(s) (RRSP, RRIF or TFSA) will be mailed after November 1. Any named Surviving Spouse or beneficiary will remain the same. Your eligible annual and lifetime contribution limits will not be affected. Your records with the Canada Revenue Agency (CRA) will be updated automatically.  

  • You will receive two 2025 T5s for earned interest exceeding $50:

    • motusbank will provide a T5 applicable between Jan 1 to Oct 31; and

    • Coast Capital will provide a T5 applicable between Nov 1 to Dec 31

  • At Coast Capital, you will not have access to digital banking or a debit card if you only have a registered account. You can sign up for a Free Chequing, Free Debit and More Account® for no monthly fee and no minimum balance. Instructions to set up this account will be shared by email after November 1.  

  • Your Canada Deposit Insurance Corporation (CDIC) coverage remains the same with Coast Capital. If you’re already a Coast Capital member, and your balance will exceed deposit insurance eligibility limits when your accounts are moved, contact us or visit www.cdic.ca for more information. 

  • Learn more about the Registered High-Interest Savings Account and other registered accounts.  

What’s changing about your account

When your motusbank Registered High-Interest Savings Account moves to Coast Capital, the terms and conditions of your current motusbank account will remain materially identical, except for the following changes: 

Details motusbank RSP Savings Account  Coast Capital RRSP High-Interest Savings Account 
Digital banking withdrawals  line art cirlce with checkmark in the center

N/A

To withdraw funds from your Coast Capital RRSP HISA after November 1, please call 1.888.517.7000
Other fees  Learn about our service fee changes
Details motusbank RIF Savings Account  Coast Capital RRIF High-Interest Savings Account  
Choice of payment day on any day of the month  line art cirlce with checkmark in the center

Monthly payments occur between the 12th and 28th

(Your selected motusbank date will carry over to Coast Capital) 
Other fees  Learn about our service fee changes

What you need to know about Registered GICs

To continue to help you maximize your savings, you’ll keep the interest rate and remaining term for Registered GICs moved from motusbank on October 31. Interest will continue to be calculated, accrued, and compounded as your current GIC (i.e., monthly, annually, or at maturity, as applicable). 

  • Updated depository agreements for your registered plan(s) (RRSP, RRIF or TFSA) will be mailed after November 1. Any named Surviving Spouse or beneficiary will remain the same. Your eligible annual and lifetime contribution limits will not be affected. Your records with the Canada Revenue Agency (CRA) will be updated automatically.  

  • At Coast Capital, you will not have access to digital banking and debit card if you only have a registered account. You can sign up for a Free Chequing, Free Debit and More Account® for no monthly fee and no minimum balance. Instructions to set up this account will be shared by email on November 1.  

  • If you have selected automatic renewal for your motusbank GIC(s), your Coast Capital GIC(s) will be set to renew into the 1-year Redeemable GIC without any action required from you. You can contact us any time before or after the maturity date to change or update your maturity instructions.

  • You will receive two 2025 T5s for earned interest exceeding $50:

    • motusbank will provide a T5 applicable between Jan 1 to Oct 31; and

    • Coast Capital will provide a T5 applicable between Nov 1 to Dec 31. 

  • Your Canada Deposit Insurance Corporation (CDIC) coverage remains the same with Coast Capital. If you’re already a Coast Capital member and your balance will exceed deposit insurance eligibility limits when your accounts are moved, contact us or visit www.cdic.ca for more information.  

Learn more about available registered Coast Capital GIC options and current rates.

What’s changing about your GIC 

The tables show which Coast Capital registered GIC each motusbank registered GIC will move to, along with key differences:

Feature motusbank Short-Term <1 Year (non-redeemable) Coast Capital 30-364 Days GIC (non-redeemable)
motusbank Short-Term >1 Year (non-redeemable) Coast Capital 1-5 Year GIC (non-redeemable)
motusbank Long-Term > 43 months (non-redeemable)
Cancellation period within opening or renewing the GIC with no interest payable 30 days 21 days
Minimum deposit N/A

$500

(Waived for motusbank transfers)
Other fees  Learn about our service fee changes
Feature motusbank 3-Year Escalator Coast Capital 3-Year Rising Rate GIC
motusbank 5-Year Escalator Coast Capital 7-Year Rising Rate GIC
Cancellation period within opening or renewing the GIC with no interest payable 30 days 21 days
Minimum deposit N/A

$500

(Waived for motusbank transfers)
Redemption Partial/full on anniversary without penalty, no minimum balance On anniversary without penalty, minimum $500 balance
Extended term N/A motusbank 5-Year Escalator migrates to Coast Capital 7-Year Rising Rate GIC; your original maturity date applies, with option to extend 2 more years at maturity
Other fees  Learn about our service fee changes
CDIC Deposit ProtectionCDIC Deposit Protection

Coast Capital Savings Federal Credit Union is a member of the Canada Deposit Insurance Corporation (CDIC). More CDIC information

Only deposits payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.

Want to compare our accounts with accounts at other financial institutions? Use the Financial Consumer Agency of Canada Account Selector Tool