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Email this2:29 pm
December 23, 2011
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Even though I am no longer a Coast Capital customer at any level they just mailed 2 YES/NO ballots that read............
Do you support the Special Resolution on Coast Capital Savings becoming a federal credit union?
That means they would drop CUDIC insurance and go with CDIC which means a number things to review for sure. And foreign fund deposits would no longer be insured.
12:16 pm
October 15, 2015
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It would be interesting to know how this would affect their mortgage rates which seem pretty competitive. It wouldn't surprise me if they became a bank that their rates would increase. I feel less confident using them for a mortgage now.
9:06 am
December 23, 2011
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Another reason to think twice about using Coast Capital.
4:39 pm
February 22, 2016
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Before I retired, I opened an account at Coast Capital as there was a branch near my work. Once I retired, I was able to make transactions from the Van City ATM (DING FREE) as Coast Capital currently says. There is no Coast Capital branch near my home so if the vote is in favor of becoming a federally chartered credit union, I imagine that transactions from other credit union A.T.M.s will no longer be "Ding Free".
5:53 pm
April 6, 2013
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Does Coast Capital intended to withdraw from The EXCHANGE ATM network should it become a federally-chartered credit union?
It is Coast Capital Savings' membership in The EXCHANGE ATM network that allows its clients to use VanCity ATM's for free.
7:39 pm
December 23, 2011
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SuperSaver said
Before I retired, I opened an account at Coast Capital as there was a branch near my work. Once I retired, I was able to make transactions from the Van City ATM (DING FREE) as Coast Capital currently says. There is no Coast Capital branch near my home so if the vote is in favor of becoming a federally chartered credit union, I imagine that transactions from other credit union A.T.M.s will no longer be "Ding Free".
Supesaver me too....retired signed up at CC. Got tired of their lousy service and fees and went to Vancity. So far absolutely NO charges for a seniors account vs CC. And service is like night and day difference.
If Coast Capital does go federal no more "no limit" CUDIC coverage and no more CUDIC coverage for foreign funds.
But do keep in mind a federal credit union can still use the exchange network as the no longer Citizens Bank did as does HSBC Bank and possibly others.
7:46 pm
December 23, 2011
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Norman1 said
Does Coast Capital intended to withdraw from The EXCHANGE ATM network should it become a federally-chartered credit union?
It is Coast Capital Savings' membership in The EXCHANGE ATM network that allows its clients to use VanCity ATM's for free.
1. Not sure
2. Yes.
It is odd that I always thought that you could use any ATM free as per the symbols on the back of my Vancity card.....but I think only and exchange ATM is free. And now the CU's have come up with the DING FREE indentity which I don't know if that is an official group or? Those machines have DING Free stickers on them.
I do know I can use my Vancity, ex Coast Captital, Outlook Financial, Accelerate, and Implicity all at Vancity, Coast Capital, and Westminster Credit Union....with no fees. I do like the banks and credit unions that allow transfers amongst other institutions....no cheques to write...no driving to an ATM. And all will allow ordering a GIC if funds are pulled.
Have used Vancity ATM card at BECU in Washington and had to pay a small fee to their machine and the usual exchange rate and surcharge. Vancity does not charge for doing that while Coast Capital nails you with an additional $5 fee.
8:55 pm
April 7, 2017
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After reading this I realize that most of us are no longer at CC as their service is lacking.
Just as an update it appears they will go federal and the members voted in favour.
See here: https://www.coastcapitalsavings.com/PressRoom/NewsReleases/2016/20161214/
9:57 pm
February 17, 2013
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kanaka said
Another reason to think twice about using Coast Capital.
Their interest rates, terrible customer service, corporate attitude and lack of customer appreciation were enough for me.
4:57 am
December 17, 2016
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Surprised at the negatives concerning Coast Capital. I dealt with them for 7 years (2009-2015) as a POA, and thought their customer service online, at the branch level, and by telephone banking to be pretty darned good. Hmmmm.
6:36 am
May 24, 2016
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My experience with Coast Capital was anything but satisfactory. They mistakenly reported a TFSA transfer as a NEW contribution, resulting in a letter from CRA stating I'd over-contributed. My financial adviser at the time tried, with no success, to straighten things out. I phoned a number of times to no avail. Finally, with the help of a very nice CRA gentleman, I was able to correct the record, but no thanks to CC, as when they at last wrote a letter saying they had erred, they omitted the electronic form and code that CRA needed. The CRA agent told me he would personally phone them, which put the matter to bed, at last.
CC staff did not return calls when requested, were not particularly helpful and, I felt, were quite flippant. Needless to say, I no longer have any accounts with them. This was in 2013, so hopefully they've improved.
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