Open an RESP account with us and get $200 bonus. No minimum contribution!
Membership with benefits
We are the only financial institution in BC offering a $200 bonus to open a RESP - and a free* chequing account for the account opener.
Set them up for success
RESPs enable you to get free government money - up to $7200 from the Canadian Education Savings Grant, $1200 from the BC Government and up to $2000 for income-qualifying families for the Canada Learning Bond.
Free and trusted advice
As a member-owned credit union with 5-star personalized service - we're here to help. Whether you put RESP contributions in investments or a term deposit, our team is here to guide you.
No minimum contribution
You can open an RESP today with the help of our $200* bonus offer.
Community Savings’ polled 810 BC parents through the Angus Reid Forum on saving for their child’s higher education. As a credit union, we see that RESP take is much higher amongst affluent families – our data shows that high-income households are more than 50% more likely to have an RESP for their child than low-income households.
We set out to understand the barriers to entry to open RESPs. 79% of BC parents who don’t have an RESP say financial barriers are the biggest contributor. The overall impact of this ‘RESP gap’ is substantial - low-income families in BC are currently missing out on more than $280m in free grants without a free RESP account.
The full results of our study – and what we’re doing to try and change these RESP gap figures – is available here.
Like any financial offer, terms and conditions apply. In short – we’re asking for the account opener to bring their active banking to Community Savings Credit Union. We will deposit the first $100 in to the RESP when it is opened, and the second $100 once payroll has been added to the account opener’s chequing account. The $200 contribution must stay with your Community Savings RESP for three years. We’re offering the free chequing account for three years as well. Click the link for full T&Cs and please ask any questions – we're here to help.
*Terms and Conditions
© 2023 Community Savings Credit Union. All rights reserved.