Investing

Two important factors to remember about investing towards post-secondary education is to start as early as possible and ensure you have a plan in place to meet your objective.  Whether you want to start a savings plan for a loved one’s education, or plan to return to school on your own, a good plan should include:

  • timeline you have before you will need to access the savings set aside
  • comprehensive budget on all the expenses one will incur while attending post-secondary including food, accommodation, transportation, books, registration and tuition costs,  and supplies
  • budget on what you can afford to invest each week, month or year to meet your goal
  • back up plan should savings not be enough to cover all the expenses; options may include student loan, working while attending school, withdrawing from other investments including RESP and RRSP

Once a timeline, budget, and goal is determined, your next step is finding the right investment to put your money into.  Bow Valley Credit Union offers various investment options to choose from for a RESP or Investment Saving, including Guaranteed Investment Certificates (GIC), Fixed or Variable Interest Rates, Redeemable and Non-Redeemable Terms, and high yield savings accounts.

Explore Our Investment Options

Getting started can be as easy as setting up weekly, bi weekly or monthly contributions for as little as $25.00 a month.

A Bow Valley Credit Union representative will help you to develop a savings strategy and provide investment options to help you reach your goal. Another important part to remember about investing with Bow Valley Credit Union is also the peace of mind you get knowing that as a Credit Union your investments are safe and 100% guaranteed by the Credit Union Deposit Guarantee Corporation (CUDGC), including the interest earned on your RESP and Investment Savings. 

Bow Valley Credit Union also partners with Credential Securities* to offer various other RESP and Investment Savings investment options that can further diversify your portfolio and make your money work harder for you.  Mutual Funds, Ethical Funds, Bonds, Annuities, and Online Brokerage Services are just a few of the other investment savings options available to you to help you reach your investment goals. Our Credential Securities Investment Advisor will take the time to understand your goals and objectives to develop a portfolio specially tailored for you.  

*Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.

Borrowing

Every year tuition costs and cost of living continues to rise. Students are finding it necessary to borrow money to help pay for their education. Several options exist including government granted student loans and personal student loans offered by financial institutions like Bow Valley Credit Union. Applying for a student loan usually requires a few items to be in place including: confirmation of enrollment, enrollment in an approved post-secondary institution and program, possibly a guarantor or co signor such as a parent, and an understanding of how much funds you will require to carry you through the year(s) of your chosen program.  Remember that even though you may be approved for $10,000 annually, it is important to know whether or not you will need to utilize all those funds.  At the end of the day, repayment of the amount borrowed should be considered, as you will be required to start repayment back usually 6 months to 12 months after completing/exiting your program. It is important to have a budget in place to understand your financial needs required while you focus on school.  Your budget should take into account expenses such as cost of tuition and registration fees due, books and supplies, transportation, and living expenses. This will provide you a good understanding of the financial support you will need, and minimize the stress of having to deal with unexpected expenses.  

At Bow Valley Credit Union, we believe that the last thing you should be worried about the night before a big exam is whether or not you can afford to enroll for another term.  From government student loans to student lines of credit, we offer various lending products designed to meet the needs of students. Bow Valley Credit Union will take the time to assist you with a budget plan and determine the amount of financing required for the current year, and future years ahead. With annual check ins, we will ensure you are on track financially so you can focus on reaching your educational goal.

Learn About Loans 

Student Account

Bow Valley Credit Union offers a variety of accounts designed to help students and younger members with their banking needs.  Check out our chart of comparison accounts and speak with a Bow Valley Credit Union representative about the account plan for you.

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Total Interest $0

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Canmore Branch Manager

Marla Schlachter

403-678-5549
mschlachter@bowvalleycu.com