LANGLEY – The world is changing and parents want to make sure their children are ready to succeed. Education and training after graduation can help unlock that success.
Parents in Langley can go into the following credit unions to kick start their savings for their children’s future:
- Aldergrove Credit Union
- Coast Capital Savings Credit Union
- Prospera Credit Union
- Westminster Savings Credit Union
To be eligible for the $1,200, children must be born in 2007 or later. Families have three years, or until the day before the child’s ninth birthday, to submit an application for the grant.
No matching or additional contributions are required to access the $1,200. Even a small amount of savings in a Registered Education Savings Plan (RESP) increases the likelihood that a child will continue their studies after high school.
“The B.C. Training and Education Savings Grant is an exciting opportunity for parents to begin saving for their children’s post-secondary education,” Langley MLA Mary Polak said. “I hope that families will stop by their local credit union to take advantage of this generous offer.”
With the $1,200 grant and an investment of $50 a month, savings could grow to $12,000 (based on a 3.5 per cent annual growth rate). Growth of funds will depend on the amount invested and actual returns.
One in three British Columbians are members of a credit union. Central 1 Credit Union is the host organization of the grant for its 42 member credit unions, consisting of 365 branches and more than 550 ATMs across B.C.
The one-time grant of $1,200 per eligible child will be deposited into an RESP upon approval of the application.
For more information visit your financial institution or www.canlearn.ca
For more information on the B.C. Training and Education Savings Grant visit www.gov.bc.ca/BCTESG or call 1-888-276-3624