Registered Education
Savings Plan

Tons of retirement investment options,
all under one roof.

A Registered Education Savings Plan (RESP) is a registered government program designed to encourage saving for a child’s post-secondary education. Interest earned from RESP savings and investments are tax-deferred until the money is used for education.

The government encourages saving for education with two grant programs:

Your RESP account can hold any type of investment product like the ones listed below. And since how you invest is just as important as how much you invest, our skilled planning team is here to help understand your individual needs and goals so you have the right portfolio mix.



The Low-fee, More-for-me Mutual Funds®

What is it?

  • Our family of funds with lower fees, designed to be simple, affordable and conservatively managed

Why could it be right for you?

  • You're looking for medium to long-term growth
  • You want simplified options
  • You're looking for low fees
  • You want to know your portfolio is being professionally managed to keep your investment goals on track

Additional Mutual Funds

What is it?

  • A selection of professionally managed, diversified funds

Why could it be right for you?

  • You want to know your portfolio is being professionally managed to keep your investment goals on track

Segregated Funds

What is it?

  • Investment funds that guarantee all or a portion of your principal at death, regardless of market value; a good option for estate planning

Why could it be right for you?

  • You want to grow your investments
  • You want to maximize the value of your estate for your beneficiaries

Non-redeemable
Term Deposits

What is it?

  • Offers short and long-term options, from 30 days to 5 years
  • Minimum $1,000 investment
  • Redeemable at maturity

Why could it be right for you?

  • You want to choose exact term length
  • You want income from the interest on your investments

1-Year Redeemable
Term Deposits

What is it?

  • Offers flexibility for one year
  • Minimum $1,000 investment
  • Redeemable any time (with full accrued interest after 30 days)

Why could it be right for you?

  • You want access to your savings
  • You want to start savings but aren't sure which investment is best for you

Better-than-cash®
Term Deposits

What is it?

  • Offers flexibility for one year
  • Minimum $500 investment
  • Redeemable any time (with full accrued interest after 6 months)

Why could it be right for you?

  • You want access to your savings, but you still want a competitive rate
  • You want to start savings but aren't sure which investment to choose

Rising Rate
Term Deposits

What is it?

  • Offers a rate that escalates each year
  • Available for 3 or 7 years
  • Minimum $1,000 investment
  • Redeemable on each term anniversary without penalty

Why could it be right for you?

  • You're saving for the long term
  • You want the flexibility of redeeming your money annually
  • You're rewarded with long-term savings with higher interest rates every year

Government Grant Programs

Canada Education Savings Grants (CESGs)

If the beneficiary of the RESP is younger than 17 years old, the government contributes Canada Education Savings Grants (CESGs) toward your child’s education directly into the RESP with 20% of every annual deposit, up to $500 per year. There is a lifetime grant limit of $7,200. And even better, any unused grant room can be carried forward for future years. That’s a lot of extra money earning interest for your child’s education.

Talk to us

BC Training and Education Savings Grant (BCTESG)

The Government of BC offers extra help for eligible children through the BC Training and Education Savings Grant (BCTESG). The grant is for $1,200 and available to BC residents at participating financial institutions - including Coast Capital Savings.

To be eligible, both the beneficiary and Primary Care Giver must be BC residents, an RESP account must be opened for the beneficiary, and the application must occur between the beneficiary’s 6th and 9th birthday.

Talk to us

Ready to invest?

Our accredited Investment Team can help you figure out the best financial plan for your goals.
Call us at 1.888.517.7000 Mon-Sat, 8am-8pm.

Contact Us to Get Started Find a branch

* All of the above are available as RRSPs/RRIFs, RESPs or TFSAs.
** All of the above are available as RRSPs/RRIFs, RESPs or TFSAs.

Coast Capital Savings Credit Union provides service and advice related to deposit, loan and mortgage products. Coast Capital Financial Management Ltd. provides service and advice related to life insurance, segregated funds and annuities. Worldsource Financial Management Inc. provides service and advice related to mutual funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund Facts before investing. Mutual funds are not guaranteed and are not covered by the Canada Deposit Insurance Corporation (CDIC) or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Fund values change frequently and past performance may not be repeated.

The Low-fee, More-for-me Mutual Funds® are managed by SEI Investments Canada Company. Worldsource Financial Management provides mutual funds and services. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be related with mutual fund investments. Please read the Fund Facts carefully before investing.