Guaranteed Investment Certificate (GIC)

A GIC is a Guaranteed Investment Certificate. That means that you are guaranteed a set rate of return on the funds you invest for the period of time that you invest it for.
A GIC can be a great way to save for a specific goal and avoid the temptation to use the money in the meantime. Typically GIC's are locked in for a set period of time (term), so you "set it and forget it" until the term is up.
A cashable GIC has a 1 year term but is cashable after 30 days with no loss of interest.  If you cash it in prior to 30 days then no interest is paid.

1-4 Years
Non-redeemable prior to maturity
18 Month
Allows for full or partial redemption on the 12 month anniversary date
5 Yr 20/20
Allows for 20% of the original investment amount to be redeemed on the anniversary date
Vermilion Credit Union also offers GIC's in US Dollars. That means you can earn interest on any excess US funds you have and aren't using.
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