Guaranteed Investment Certificates (GICs)
Available as a registered or non-registered investment, Northern GICs offer a guaranteed return on your money—so there’s no need to guess where the markets are going.
FIXED RATE GICs
Redeemable GICs are available at 30- to 179-day terms with a minimum balance of $5,000, or longer 180-day to 5-year terms with a $1,000 minimum. There’s no penalty for cancelling within the first 30 days, and a penalty of 50% of interest paid thereafter.
Non-Redeemable GICs are available in terms of 1 to 5 years and require a minimum balance of $1,000. Unlike Redeemable GICs, these investments are locked in until the term is complete, but the trade-off is a higher interest rate.
- No fees
- Completely secure
- Choice of redeemable or non-redeemable
- Guaranteed interest rate paid annually or semi-annually
- Withdraw or reinvest your earnings at the end of the term
INDEX-LINKED TERM DEPOSITS
Balancing risk and reward is one of the biggest challenges an investor faces. Our Market Secure GICs reduce your risk by protecting 100% of your principal investment, while maintaining the potential for excellent returns.
- Rate of return based on the performance of Canada’s 60 best companies (the S&P/TSX 60
- 100% protection of your principal investment through Northern Credit Union Deposit Insurance
- No commissions, management or administration fees
- Available in 3 or 5-year terms with a minimum investment of $1,000