Saving for the unexpected
Setting up an emergency fund? We can help you build your savings for peace of mind.
Investment accounts
Choosing the right accounts for your goals is one of the first steps to investing. Think of them as containers for your money. Explore our recommended investment accounts to help you build an emergency fund.
Tax-Free Savings Account (TFSA)
Grow your investments tax-free and contribute for as long as you want – a great way to quickly build an emergency fund that can cover big expenses like an urgent trip to the vet or car repairs.
Non-Registered Savings Plan (NRSP)
Save without limits and access your investments at any time, giving you the flexibility to dip into your savings when you need it most.
Investment products
Like items that you put in a container, investment products are what you hold in your account. They help you grow your wealth, and each come with different risks and rewards. The products you choose depend on your risk tolerance and timeline. Explore our recommended investment products.
Mutual funds
A straightforward way to invest in a pool of professionally managed funds that match your risk tolerance.
Segregated funds
Your money is invested across professionally managed investments while a portion of your principal is kept safe.
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When you’re building an emergency fund, it can be easy to get overwhelmed. Read our top tips to help you reach your goal.
Choose a realistic amount to set aside regularly. You should aim to have three to six months of your regular expenses or income to cover unforeseen costs, according to the Government of Canada. This amount can seem out of reach. But don’t get discouraged. Incorporating savings into your daily habit can make a big difference over time.
Take a look at your budget and eliminate unnecessary expenses, like buying a coffee on your way to work. Adding these amounts to your emergency fund can help grow your savings faster.
Use the Government of Canada’s Budget Planner (opens in a new window)
When your personal or work situation changes, it’s important to re-evaluate your financial goal. Changes can include a new home, a new child or an increase in your property taxes. These changes can impact your timeline to reach your emergency savings goal and how much you’ll need. When these changes happen, make tweaks to your budget so you’ll have a safety net when you need it.
Learn how you can take full advantage of this powerful savings tool.
Learn how to reach your savings goals faster with our five-step plan.
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Saving for something else?
Not all products are available in all provinces.
In the province of Quebec, the authorized representatives are Financial Security Advisors who have been duly certified by the Autorité des marchés financiers.
Mutual funds are offered through Co-operators Financial Investment Services Inc. to Canadian residents except those in Quebec and the territories. Segregated funds and annuities are underwritten and administered by Co-operators Life Insurance Company.
The content provided on this webpage is a general source of information for a specific point in time and should not be considered solicitation to buy or sell any investment. Nothing contained in this information constitutes investment, legal, tax or other advice.
Co-operators Financial Investment Services Inc. is committed to protecting the privacy, confidentiality, accuracy and security of the personal information that we collect, use, retain and disclose in the course of conducting our business. Please visit our privacy policy for more information.
Co-operators® is a registered trademark of The Co-operators Group Limited.