4.75% Promo Summer 2023 | DUCA Credit Union | Discussion forum

As previously, deposits to the special promotional Earn More Savings Account are gated:

… The Promotion account is not accessible at an ATM and cannot be used for bill payments, telephone banking, remote cheque deposits, or any type of e-transfer. Eligible for a non-registered account only. When this offer ends, all funds in the Member's promotional account will automatically transfer into the regular non-promotional, non-registered Earn More Savings Account.

…

For current DUCA Members: Only eligible deposits made in-branch or through Member Connect qualify for the Promotional Rate. Online transfers and transfers through the DUCA phone app are not possible as the Promotion account is only accessible to DUCA staff.

This might be helpful to bridge the gap when the current Tang promo ends on Jul31

Does DUCA still pay 2% on interest it pays to clients?

iotama said

Yup, not touching Duca even if they were on top of the charts.

First the fraud itself, then the shadowy way they handled the aftermath, should deter more folks imho. I'm actually surprised there is so little blowback.  

I presume that was because any fraud event that occurred to a DUCA member was not as a result of DUCA's internal systems, but instead a result of a phishing scam, as member Doug first expected and of which we know now is true. Context matters. And big banks are common targets of scams (i.e., phishing, fraudulent text messages, etc.), DUCA is not alone in this.

https://www.rbc.com/cyber-security/alerts/index.html

One other affected customer that we know of was reimbursed by DUCA, as mentioned on this board. I bet if the OP clearly mentioned that this was a phishing scam and left no doubt as to that, he would have been compensated too.

canadian.100 said

To be fair, how would the OP have known that this was a phishing scam? The OP spoke to client reps several times on Nov 14 (the day of the multiple incidents) and afterwards and was not told this was a phishing scam. There is no need to crucify the OP who was posting only what they knew at the time or what DUCA client reps had said (or in most cases not said).  

Other than a security breach that is the FI's responsibility, the onus is on the customer to know whether any email / text / website they rec / use is phishing scam or real. I would say the OP would be liable for all losses prior to his contact with DUCA, and once DUCA has been alerted, DUCA should have protection in place to prevent any more potential losses.

freakonomist said
It appears that DUCA has launched on July 20 2023 a new promotion at 5.25% running until January 31 2024.

I feel it would be great to add / update the "Promos" tab accordingly...   

"If you had funds in the 2023 Summer Earn More Promo ...

The rate automatically increased to 5.25% and the offer has been extended through January 31, 2024!"