Deposit Accounts

Daily Interest Savings Account

TECU’s Daily Interest Savings Account offers premium interest rates paid monthly to your account. As your balance increases, so does your interest rate! You can access this account with your ATM/ Debit MemberCard, Online Banking, and Telephone Teller.

Power Saver II Account

This account allows you to save funds in a separate account for something special like a vacation or something simple like your taxes! Interest is calculated daily and increases with an increased balance in the account.

Flip & Save

For those members who get good use out of their Debit Card, the Flip & Save Account will round your POS (Point-of-Sale) transactions up to the nearest one, five or ten dollar amount, and direct those funds into your Flip & Save Account. This is a great way to save money for a rainy day.

To sign-up for a Flip & Save Account   

Apply Now

Term Deposits – Long & Short Term

TECU offers a variety of Term Deposits. These Term Deposits earn you a higher interest rate than a regular savings account. The rate is competitive and guaranteed. Bonus interest rates are available on amounts greater than $25,000. TECU Term Deposits are also eligible for registered plan investments. TECU certificates range from 90 days to 3 years. Five year terms are also available through Concentra Financial.

Indexed Linked Term Deposits

For our members who are looking for a better rate without a great deal of risk on their investment TECU offers Index Linked Term Deposits. Index Linked Term Deposits allow you to invest in the stock market while keeping your principal deposit protected. Index-Linked products are available in the form of Term Deposits, Tax Free Savings Accounts (TFSAs) and RRSPs. Another great benefit of our Index linked term Deposits is the fact that there is no cap on the amount of interest you can earn. If the market does well, so do you! Deposits are made every two months in February, April, June, August, October and December. If you are interested in this product, please give our offices a call at 416-238-5606. You can track and view your IDL returns here.

Calculator

If you have any questions please give our Deposit Department a call at 416-238-5606.
 

Deposit Insurance (DICO)
All Canadian dollar deposits at The Energy Credit Union are insured up to $100,000 per individual by the Deposit Insurance Corporation of Ontario. For more information, visit their website, or come into the branch to pick up a brochure.