RESP Program Alignment July 1

Effective July 1, 2026, any RESP investments currently held in deposits with Concentra under the Bank Deposit Referral Program will be transferred to Access Credit Union as part of an agreement between the two organizations.

This change only affects specific plans, and impacted members will receive direct communication with more information.

What remains the same?

• RESP account numbers and terms remain unchanged
• Existing investments continue, now held with Access Credit Union
• Concentra Bank remains the RESP promoter
• Concentra Trust remains the trustee
• Concentra continues to support Access Credit Union in administering RESPs

What is changing?

Automatic contributions (PADs):

• Existing automatic contributions end after June 30, 2026
• New arrangements must be set up with Access Credit Union by June 22, 2026 to continue contributions

Interest rates:

• Variable-rate deposits transition to Access Credit Union rates starting July 1, 2026
• Existing term deposits remain unchanged until maturity
• New or renewed deposits follow Access Credit Union’s current rates

Fees:

• RESPs follow Access Credit Union’s fee schedule effective July 1, 2026

What action is required?

No action is required unless:

• Automatic contributions are to be restarted
• The transfer is to be declined

If the transfer is not desired:

• A completed Decline Transfer form must be returned by June 23, 2026
• If no response is received, the transfer proceeds automatically

If you have any questions or concerns, please contact our Members Solutions Centre at 1.800.264.2926 or visit your local branch.