Get the jump on next year NOW!

Recent surveys have found that many Canadians have turned their financial focus toward paying down debt, with retirement saving — particularly among younger people — sometimes taking a backseat.

That’s not surprising given the state of the economy over the past couple of years. Reducing one’s debt load is always a worthwhile endeavour. But saving for retirement should also remain a priority. If you missed the recent RRSP contribution deadline, don’t panic; now is the time to get the jump on contributing for this year.

One easy way to do that is by setting up a pre-authorized monthly RRSP contribution. Contributing to your RRSP on a monthly basis has a number of benefits:

• It’s easier to budget than annual lump sum payments. Even small payments can grow into substantial savings (Less pain; you won't miss it as much).

• It’s easier to budget than annual lump sum payments. Even small payments can grow into substantial savings (Less pain; you won't miss it as much).

• No scrambling for funds just before next February's contribution deadline.

• Greater return. In the long-run, contributions will earn more interest if deposited monthly or bi-weekly instead of once a year.

• Flexible. Payments can be easily increased when regular expenses such as loans or mortgage payments end or decrease and before you become accustomed to spending the extra cash.

• Your money goes to work for you earlier as you earn tax-sheltered interest income immediately.

• Monthly payments can be made into a spousal RRSP. The tax receipt is yours now and the income is your spouse’s at retirement.

If you’d like to set up a monthly RRSP contribution, or if you’d just like more information on RRSPs in general, stop in and see us at any of our branches.

If you’re planning a trip to warmer climes this winter, you may be interested to know there are several important ways your Credit Union MasterCard can help you while on vacation. The Credit Union MasterCard offers a variety of features that can come in very handy when you’re traveling outside of Manitoba or Canada, including:

• Out-of-Province/Country Travel Medical Insurance
Your Credit Union MasterCard provides a wide range of benefits should you experience health problems while out of the province or country.

• MasterTrip®
MasterTrip® provides cardholders with a variety of benefits, including trip cancellation insurance, emergency assistance services, unexpected return home benefits, common carrier travel accident insurance and accidental death insurance.

• MasterRental®
Accidents do happen, and when they do in a rental car, it’s nice to be protected. When you rent a car with a Credit Union MasterCard that features MasterRental®, you receive a collision damage waiver benefit (equivalent to that offered by the car rental company, provided you decline theirs), car rental accidental death and dismemberment benefits (up to $300,000 per accident) and personal effects benefits (if your rental car is damaged or stolen, any personal effects in the car are covered up to $1,000 per insured person, up to $2,000 per rental period).

Please note that some limitations apply. See the certificate of insurance when you receive your card.

For full details on the features of Credit Union MasterCards, visit
www.cuets.ca/products/index.html or inquire at North Winnipeg Credit Union (ph.954-7450 or in person).