Crosstown Civic Credit Union News

TFSA: Save yourself time, deposit online


Early January is a busy time for personal finances, and current health orders have moved us to services by appointment only. Save yourself time by making your TFSA deposit online using our online banking or mobile app. Transfers can be done as one lump sum payment or scheduled reoccurring transfers 365 days a year. 

How do I make a TFSA deposit through online banking?

We have outlined the steps to making an online TFSA deposit here. You may also watch the tutorial video below to learn how.

What is the 2021 TFSA contribution limit?

The Tax-Free Savings Account (TFSA) contribution limit for 2021 remains $6,000—the same as 2019 and 2020. If have been eligible since the introduction of TFSAs in 2009 and haven't yet contributed, your your cumulative contribution room will be $75,500 in 2021.
With a TFSA, you can deposit funds then watch those funds earn interest tax-free throughout your lifetime. Contributions to TFSAs are not tax-deductible and any money contributed, as well as any income earned in the account, is tax-free for life, even when it is withdrawn.

Websites and mobile apps stay the same come Jan. 1
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