Registered Education Savings Plans are government approved plans for the purpose of providing post-secondary education funding for a beneficiary. On top of government grant and bond contributions, the income that is earned within the plan is not taxed until it is withdrawn. Saving for a child’s university or college education is one of the best ways to create a future where anything is possible. 

You can also use RESPs to save for your own education. Anyone who is 18 years or older with a social insurance number can open and contribute to an RESP. Whether your education goals are for a young person in your life or to create opportunities through education for yourself, an RESP from Union Bay CU can pave the way to a brighter future.