Special Payroll Deposit

SPD Deadline October 31, 2016

What is SPD?

  • Special Payroll Deposit (SPD) is a savings plan via payroll deduction/direct deposit.
  • It pays 0.25% higher than Canada Savings Bonds. Interest is paid monthly.
  • No Fees, Service Charges or Penalties for early withdrawals.
  • Immediate access to your funds during regular business hours.
  • An option to register your Special Payroll Deposit for your retirement - RRSP or a Tax Free Savings Account (TFSA).

Important Notice

The Government of Canada announced it will discontinue the sale of Canada Saving Bonds (CSBs) purchased through the Payroll Savings Program as of November 2017.

Don’t worry Public Service Credit Union has you covered.

Follow these easy steps and you can continue to enjoy your Payroll Saving Plan.

  1. Complete a Payroll Deduction form (see bottom page).
  2. Email Application: pscuadmin@pscu.ca or Fax Application (709) 579-3746.
  3. A Public Service Credit Union Employee will contact you to set up your account.

Easy Steps to Transfer your Canada Saving Bonds

How to redeem your funds on CSB online Services: Go to csb.gc.ca/employees

  1. Click on CSB online services
  2. Enter Client ID and Password
  3. Direct Deposit left hand side (Get your account number from PSCU)
  4. Click on redeem
  5. Redemption Screen choose amount and redeem. It will directly go into your account.

To Create a CSB online Service Account you will need:

  1. Your CSB Plan Number (ten-digit number found on your CSB Statement).
  2. Direct Deposit Information (you can get this from PSCU)
  3. Your contribution amount.
  4. Valid email address (receive transaction confirmation).

Contact Canada Saving Bonds Program by Phone: 1-877-899-3599

Application Forms

Print Only PDF SPD Application Form Fillable PDF SPD Application Form
 

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