Frequently Asked Questions

• The Agri-Invest Program is designed to help producers deal with small drops in income or invest in improvements in their farming operations. The government provides matching of the producer's contributions to an Agri-Invest Account.


• Producers can use the funds in their Agri-Invest Account to address a small margin decline or for risk mitigation and other investments.


• Click here for program details.

• All producers are eligible, provided they report farming income for income tax purposes (status Indians farming on reserves are eligible if they submit the equivalent information), and meet all program requirements.


• Most agricultural commodities are eligible except for supply-managed commodities, aquaculture, forestry products, peat moss, and game farming. Processing or resale of items not produced by the participant is not eligible.

• Producers can withdraw funds from their Caisse Financial Group AgriInvest account at any time.


• If the participant has no sales or purchases of eligible commodities, or does not submit the program forms, for two consecutive years, their account will be closed and the balance paid to the participant.

• A Guaranteed Investment Certificate (also known as a GIC or a Term Deposit) is a secure way to invest your savings as the interest rate is fixed for the term of the GIC.


• The term is the length of time that the funds will be invested. Generally, the longer the term of the GIC, the higher the interest rate.

• Regular GIC: used for regular investment purposes. The interest earned is taxable as per Canada Revenue Agency regulations.


• RRSP GIC or RRIF GIC: used for retirement savings purposes. The income earned is not taxable so long as it stays in the RRSP or the RRIF. Withdrawals will be taxed in the year of the withdrawal.


• TFSA GIC: used to invest for any purpose. The interest earned will not be taxed.

• Anyone can invest in a GIC however youth may require a parent or guardian to be joint on the account.

• If the GIC term is one year or less, interest is paid at maturity.


• If the GIC term is longer than one year, interest is paid annually.

• There are no fees for investing in a GIC.

• It is easy to invest in a GIC. You choose the term you want and you deposit the funds in the GIC.


• There is no maximum amount you can invest in a GIC and you can have as many GICs as you like.


• At Caisse Financial Group, the minimum investment amount for a GIC is $1,000.

You can cancel an INTERAC® e-Transfer if the recipient has received notification but has not yet deposited the money. If the money has been deposited in the recipient’s account, the e-Transfer cannot be cancelled or reversed.

• If the recipient has not picked up the e-Transfer, you can resend the notice again.
  Click VIEW/RESEND/CANCEL PENDING TRANSFERS and find the e-Transfer in question. Click RESEND NOTICE


• The recipient has 30 days after the date the e-Transfer is sent to accept the e-Transfer.
  If the receiver does not accept the e-Transfer within 30 days, the transaction will expire and notification will be sent to the sender. The sender then has 30 days to cancel the transaction to reclaim their funds (minus the fee). (See Cancelling an e-Transfer)

If the sender does not cancel the transaction within the allowed timeframe, Interac® will cancel the transaction and the money be returned to the sender (minus the fee) within 7 days.

It can take up to 30 minutes to receive notification of an e-Transfer.

If notification is still not received after 30 minutes:

• Check the recipient’s profile to ensure you have entered the correct email and/or mobile phone number.


• The recipient should check the spam/junk folder in his/her inbox.


• You can resend the notice by clicking VIEW/RESEND/CANCEL PENDING TRANSFERS and clicking RESEND NOTICE.


• You can contact your branch or Technical Support. See Need Help.

The Interac Flash contactless payment function (Flash) allows you to make payments more quickly and easily. You do not need to insert your card and enter your personal identification number (PIN).

Simply hold the card less than 4 centimeters in front of a compatible reader to make your payment. A visual or audio signal will confirm that the Flash transaction was completed. The amount of your purchases will be instantly deducted from your Caisse account.

Look for the Flash symbol on merchants’ readers indicating that the Flash function is available on the reader. However, it could be that the merchant has not activated the contactless Flash functionality therefore it is always prudent to check with the merchant.

The Flash card has all the functions of our existing card using your PIN (eg. ATM transaction, payments at merchants that do not allow Flash functionality, etc.) and can be used worldwide. However, the Flash feature is only available in Canada.

The Flash fonction allows you to make payments without entering your PIN up to the limits described above, it is important to protect your card at all times and to notify Caisse immediately if your card is lost or stolen.

You can alert us that your card has been lost or stolen by one of these 3 ways:

1. Call your Caisse Financial Group Branch during business hours.


2. Call one of the following numbers available 24 hours a day, 7 days a week. :
   1 866 260-7060 : Canada and the United States
   1 925 293-5241 : outside of Canada and the United States


3. Complete the online form

Additional resource: What to do in case of fraud?

The Flash function will follow the same process as your existing card.

If you have more than one account in your Caisse portfolio, the withdrawal will be made primarily on the account that was identified as your primary account (Chequing or savings account). If the funds are not available in the primary account, the withdrawal will be done in your second account (Chequing or savings account).

If funds are not available in any of your accounts, the transaction will not be permitted.

Click here for more information about the Interac Flash contactless payment function.

• A loan provides you with the approved amount of funds upfront and requires you to make regularly scheduled payments over a defined period of time until the loan is paid in full.


• A line of credit provides you with a pre-approved borrowing limit that is attached to your chequing account and is available to you at all times. You borrow against your line of credit by making withdrawals from your account (in-branch, cheque, debit, ATM, etc.) and you repay the line of credit by making deposits to your account. You are charged interest only when you utilize the line of credit.

• Personal loan interest rates will vary depending on the loan request and the loan applicant.


• Personal loan interest rates are based on many factors such as if the loan is secured (asset pledged against the loan) or unsecured, the credit history of the applicant, the amount of the loan and the purpose of the loan, among others.

• The term of the loan is the length of time that you choose to pay the loan in full.


• The term of the loan will determine the amount of your loan payments.


• A shorter term means higher loan payments but lower interest costs.


• A longer term means lower loan payments but higher interest costs.


• Loan terms typically range from 1 to 7 years.

The following information will be required when applying for a loan:

• Personal information (name, address, phone, email, birth date, marital status, social insurance number, etc.)


• Financial information (details of what you own and what you owe, individualy and jointly)


• Employment information (employer, occupation, salary, length of time worked, etc.)


• Details regarding the purpose of the loan

Other information may be requested in order to evaluate your loan request.
If the loan is joint, all loan applicants will need to provide the required information.

1. In order to obtain financing for your new home, you need to have a down payment from your own funds. Typically a down payment should be equal to at least 5% of the purchase price of the home.


2. As a first time homeowner, you have the opportunity to take advantage of the Home Buyers Plan which allows you to withdraw savings from your Registered Retirement Savings Plan (RRSP) to put towards your down payment. Learn more.


3. Use the mortgage calculator to determine what purchase price and mortgage amount you can afford.


4. Contact a Financial Services Advisor to get a pre-approved mortgage before you start looking for your new home.


5. Make sure to have enough funds to cover legal fees, land transfer tax, insurance and other additional fees associated with the purchase of a home.

The following information will be required when applying for a mortgage:

• Personal information (name, address, phone, email, birth date, marital status, social insurance number, etc.)


• Financial information (details of what you own and what you owe, self and joint)


• Employment information (employer, occupation, salary, length of time worked, etc.)


• Property information (address, purchase price, physical details, tax roll number, etc.)

Other information may be requested in order to evaluate your mortgage request.
If the mortgage is joint, all applicants will need to provide the required information.

There are a number of factors to consider when deciding whether to invest in your RRSP or to make additional payments on your mortgage, such as the interest rate on your mortgage, whether you are carrying any high interest bearing debt and how much you need to save for retirement. You could possibly do both: invest in your RRSP and use your tax refund to make an additional mortgage payment.

Contact a Financial Services Advisor to review your situation and determine what is best for you.

• A mutual fund is a simpler way for you to invest in the market when you are looking for something other than the traditional investment products.


• A mutual fund is the pooling of assets of many investors, which is then invested in different types of securities, from low risk such as treasury bills and government bonds to higher risk securities such as stocks. When you buy a mutual fund, you are buying a number of units of the larger pool of assets.


• Unlike traditional investment products such as guaranteed investment certificates, the return on a mutual fund is not guaranteed as it is subject to market fluctuations and therefore cannot be known with certainty. The principal investment in a mutual fund is also not guaranteed and could be at risk of loss should the market performance fall.

Among the different options available for mutual funds, the most common options are:

• Non-Registered: A mutual fund can be held as a regular investment. The earnings are taxable as per Canada Revenue Agency regulations.


• Registered: A mutual fund can be held in a registered investment account for retirement savings purposes. The earnings will not be taxed while the mutual fund is registered as a RRSP or RRIF.


• TFSA: A mutual fund can be held within a Tax Free Savings Account. The earnings will not be taxed and the withdrawals from the TFSA will not be taxed.

• The return on a mutual fund depends on the fund selected, the type of investments held in the fund, the fund manager and the time invested in the fund.


• The return can be interest earned on money market instruments, interest received from bonds or the earnings from stocks, among others.


• The return on a mutual fund will vary depending on the type of fund and the performance of the investments within the fund.


• The return on a mutual fund is not guaranteed.

• Yes you can use a mutual fund to save for your retirement. Investors who prefer mutual funds find that it is a simple way to invest in the market when trying to increase their return on investment or diversify their portfolio.


• A mutual fund can be held in a registered investment account for retirement savings purposes. The earnings will not be taxed while the mutual fund is held in the RRSP or RRIF.


• Contact an Investment Specialist to review all the investment options for your retirement plan in order to ensure that you are accumulating the required amount and minimizing taxes.

• Contact an Investment Specialist to review your financial situation, time horizon, goals and risk tolerance and to develop an investment plan that is suitable for you, with or without mutual funds.

• Click "Open Account" above and complete the online form or contact any of our branches to open an account.

• You will need two pieces of original, valid identification (photocopies not accepted) as follows:
  
  
  
  • A minimum of one primary identification
    
    
    
    • valid driver's license, current passport, birth certificate, Canadian Citizenship Card, Old Age Security Card, Indian Status Certificate Card
    
    
    
    
  
  
  • If you only have one piece of primary identification, a secondary identification must be presented:
    
    
    
    • government issued identity card, employer identification card with photo, student card with photo, credit card, social insurance number
    
    
    
    
  
  
  • At least one piece of identification must have a recent photo
  
  
  • At least one piece of identification must confirm your current address
  
  
  
  


• If you are under 13 years of age, a parent or guardian must be joint on the account with you


• If the account is joint, both holders must provide the required identification

Caisse Financial Group members can use Caisse Financial Group ATMs in Manitoba and Credit Union AccuLink^® ATMs across Canada to deposit, withdraw and transfer funds as well as check their balances free of surcharge fees.

All other ATM fees vary depending on the account that you choose. Review account details above.

• Click "Open Account" above and complete the online form or contact any of our branches to open an account.

• You will need two pieces of original, valid identification (photocopies not accepted) as follows:
  
  
  
  • A minimum of one primary identification
    
    
    
    • valid driver's license, current passport, birth certificate, Canadian Citizenship Card, Old Age Security Card, Indian Status Certificate Card
    
    
    
    
  
  
  • If you only have one piece of primary identification, a secondary identification must be presented:
    
    
    
    • government issued identity card, employer identification card with photo, student card with photo, credit card, social insurance number
    
    
    
    
  
  
  • At least one piece of identification must have a recent photo
  
  
  • At least one piece of identification must confirm your current address
  
  
  
  


• If you are under 13 years of age, a parent or guardian must be joint on the account with you


• If the account is joint, both holders must provide the required identification

Caisse Financial Group members can use Caisse Financial Group ATMs in Manitoba and Credit Union AccuLink^® ATMs across Canada to deposit, withdraw and transfer funds as well as check their balances free of surcharge fees.

All other ATM fees vary depending on the account that you choose. Review account details above.

• A Registered Retirement Income Fund (RRIF) is a fund registered with the Canada Revenue Agency (CRA) that ensures that you have income throughout your retirement years by allocating regular payments to you.


• Minimum payments must be paid to you starting in the year after the RRIF is set up. You can choose how often you receive these payments (monthly, quarterly, semi-annually or annually).


• Income earned in a RRIF is not taxable so long as it stays in the RRIF, allowing you to continue to grow your retirement savings tax free.

• You can transfer funds from a RRSP to a RRIF at any age before the established deadline however minimum payments must be paid to you starting in the year after the RRIF is established.


• All funds in a RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years of age (or the funds must be withdrawn from the RRSP in its entirety).

• Interest is "compounded" when you earn interest on your interest.


• If the interest earned is left in your RRIF, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest.


• Compound interest can make a big difference in the amount of return that you earn over time.

• The return on a RRIF depends on the type of investment that you selected.


• If the RRIF is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable for as long as you leave the interest in the RRIF; the interest is taxable when you withdraw it.


• If the RRIF is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).

• A RRSP is a retirement savings plan registered with the Canada Revenue Agency (CRA) which allows you to grow your retirement savings tax free while the funds stay in the RRSP.

• An individual with “earned income” in Canada, including non-residents, may contribute to an RRSP.


• Contributions can be made until the end of the calendar year in which you turn 71 years of age.

• You can contribute a large amount at one time, often referred to as a lump sum contribution, up to your maximum contribution limit.


• You can contribute regularly scheduled amounts via automatic transfers from your chequing or savings account directly to your RRSP account.


• If you have an existing RRSP at the Caisse, you can make contributions by logging into Online Banking and transferring money from your chequing or savings account to your RRSP account.


• You can contribute to your own RRSP or to your legal or common law spouse’s RRSP (‘spousal RRSP’). Spousal RRSP contributions allow income splitting at retirement, resulting in a possible reduction of overall family taxes.

• The return on a RRSP depends on the type of investment that you selected.


• If the RRSP is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable for as long as you leave the interest in the RRSP; the interest is taxable when you withdraw it.


• If the RRSP is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).

• You can contribute to a RRSP via a savings account which is a flexible, simple way to save and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another RRSP investment option at any time.


• You can contribute to  RRSP via a GIC which is a secure way to grow your savings as the interest rate is fixed.


• You contribute to a RRSP via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.

• Both a RRSP and a TFSA allow you to grow your savings tax free.


• A RRSP is designed to give you tax savings by providing you with a tax deduction when you contribute to the RRSP, however you will pay taxes when you withdraw the funds from the RRSP.


• A TFSA does not provide a tax deduction when you contribute however withdrawals from a TFSA are not taxable.


• The benefits of contributing to a TFSA versus a RRSP will depend on your age and financial situation. It may be to your benefit to maximize your tax deduction with a RRSP or conversely to take full advantage of the TFSA contribution limit or to contribute to both a TFSA and a RRSP.


• Speak with a Financial Services Advisor who can provide you with helpful advice before you make your decision.

• You can withdraw from an RRSP before retirement however you will have to claim any funds withdrawn as income in the year of the withdrawal, except in the following circumstances:
  
  
  
  • You can withdraw funds from your RRSP without tax consequences to apply the funds towards the purchase of your home, (Homebuyers’ Plan).
  
  
  • You can withdraw funds from your RRSP without tax consequences to apply the funds towards the cost of your education (Lifelong Learning Plan).
  
  
  • Upon your death, if your spouse is the beneficiary of your RRSP, the funds can be transferred to your spouse’s RRSP, who, will not pay taxes on the funds until they are withdrawn from his/her RRSP.
  
  
  
  


• You should consider the tax consequences before withdrawing from your RRSP as well as how the reduction of RRSP savings will impact your retirement goals.

Per Statistics Canada, Canadians spend an average of $200 on bank fees every year. Our Student Account gives you free unlimited transactions from age 18 to 26, whether you remain a student or not. That represents a savings of $1,600 over 8 years.

Keeping the money you can spend separate from the money you need to save is the best way to reach your savings goals. That is why we offer two Student Accounts: the Student Account and the Student Savings Account. Both accounts are free and earn the same interest rate.

• The Student Account is your everyday banking account and where you should keep the money you can spend.


• The Student Savings Account is where you should keep the money you need to save. Plus, if you keep a minimum of $500 in this account, you are eligible to win $500 three times a year. Draw dates are: November 30^th, March 31^st and July 31^st. Click here for details.

• Open a Student Account for your spending money and open a Student Savings Account for the money you need to save.


• Determine how much you need to save and by what date. Then, calculate the amount you need to save every week, every two weeks or every month to reach your savings objective.


• When you receive your pay or other income:
  
  
  
  • Transfer the money you need to save immediately to your Student Savings Account. Set up an automatic reminder on your calendar to not forget.
  
  
  • Set up an automatic transfer to your Student Savings Account on a weekly, biweekly or monthly basis on the dates that coincide with your pay dates.
  
  
  
  


• Do not spend the money in your Student Savings Account for any other purpose than to pay your tuition.


• Open a separate Student Savings Account for any other goal you are saving up for.

• A Tax Free Savings Account (TFSA) is a registered savings plan authorized by the Canada Revenue Agency (CRA) that allows you to grow your savings tax free.


• Income earned in a TFSA is not taxable and withdrawals from a TFSA are not taxable.


• Withdrawals from a TFSA will not affect government benefits that are based on income.


• Contributions to a TFSA are not tax deductible.


• A TFSA should not be treated as a regular savings account where there could be frequent withdrawals; rather, it should be treated as a vehicle for longer term savings or for specific savings goals.

• To contribute to a TFSA, you must meet the following eligibility requirements:
  
  
  
  1. Have a Social Insurance Number (SIN)
  
  
  2. Be 18 years of age or over
  
  
  3. Be a resident of Canada (Individuals only, no trusts or corporations)
  
  
  
  

• The annual contribution limit is prescribed by the Government of Canada and it is the same for everyone. Click here for contribution limits.


• If you do not use all of your contribution room in previous years, you can carry over the unused portion to future years.


• You cannot exceed the maximum contribution limit otherwise penalties will apply.


• Withdrawals from a TFSA can be added back to the TFSA according to the regulations; this would be in addition to your maximum annual contribution limit.

• The return on a Tax Free Savings Account depends on the type of investment that you selected.


• If the TFSA is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable whether you leave the interest in the TFSA or whether you withdraw it.


• If the TFSA is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).

• You can contribute to a TFSA via a savings account which is a flexible, simple way to save and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another TFSA investment option at any time.


• You can contribute to a TFSA via a GIC which is a secure way to grow your savings as the interest rate is fixed.


• You can contribute to a TFSA via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.

• Click "Open Account" above and complete the online form or contact any of our branch locations to open a TFSA.