MAXA to exit Locked-In Retirement Accts. August 1, 2026 | MAXA Financial | Discussion forum

I received a notice from MAXA - Assiniboine Credit Union that they will no longer be custodians of locked-in retirement accounts after August 1. This includes LIF, LIRA, RLIF and PRIF funds.

The way it will work is that term deposits will be maintained until they mature in these accounts, and then the funds will be moved to a variable rate account until transfer to an external financial institution that will accept the funds.

Not mentioned was whether MAXA will still impose the $150 transfer out fee for such mandatory relocation of locked-in funds.

One of MAXA's great advantages over some other Manitoba credit unions, and some online banks, was its openness to managing LIRAs and LIFs. This change will make them less relevant to me in the future, and more than three-quarters of my deposits with them are going to exit in 2027, when my LIRA GIC matures.