Duca Advice | DUCA Credit Union | Discussion forum

dollarbill said
Duca sounds too good. What are the bad parts?  

Setting up other FI accounts as transfer destinations or sources is a paper form affair. Fortunately, other FI's can establish such links much simpler.

A phone call is required for every transfer into that "Park" account. Fortunately, I've never waited more than 15 minutes. Unfortunately, I hate waiting ...

dollarbill said
Duca sounds too good. What are the bad parts?  

I haven't encountered any deficiencies in the years I have dealt with them. Yes, the transfer to the PARK account requires either a visit to the branch or call to Member Connect, but that's how they manage their promo HISA program.

In my view, DUCA is one of the top CU's in the Country from general efficiency to overall consistent value.

I would not hesitate to recommend them.

Oh yes, I can't stand the music they play when the call is on hold waiting for Member Connect.

Stephen

dollarbill said
Duca sounds too good. What are the bad parts?  

Products and services only available to Ontario residents.

Oh yes, I can't stand the music they play when the call is on hold waiting for Member Connect.

That music is REALLY annoying!!

Another quirk to watch for ...

Occasionally, DUCA offer GIC Promos. A few years ago, that was a 5Yr 2.5% GIC with Interest payable quarterly and redeemable quarterly. Once "purchased" that GIC showed up as 5Yr non-redeemable. I was told that was the only standard descriptor they had but the terms were as per the promo. I asked for a document that confirmed the GIC was as promoted and not per the descriptor. I did get that 10 days later and that doc is attached to our DUCA account and every CSR sees when they look at your account.

I will be cashing out that GIC next week when it crosses its next quarter and move the funds to greener pastures but not the DUCA 3.25% HISA Park cause so far they have said they won't treat it as new funds qualifiable for the Park Promo ...

Something else ... Telephone customer service as good as Hubert, i.e. excellent ...

You CAN get money out of your Park account without calling Customer Service. It's just a matter of knowing how. First, you go online and transfer Park funds into another account such as chequing or Earn More Savings (non-Park). Then you proceed as you normally would from there to get money from ATM or whatever you need to do. Works every time for me.

Also, my recent experience is that DUCA has speeded up its transfers-out. They usually arrive next day now.

For maximum efficiency, DUCA will work better if you live near a branch. You can deposit large cheques there, for instance. That said, I have friends who have belonged to DUCA for about 50 years, don't live near a branch, and are very loyal to DUCA.
Parking is a pain at the Mount Pleasant location.

cgouimet said

While the Park (promotional) account is not available as a "Destination/To Account" in Online Banking Transfers, it does appear as a "Source/From Account". But I have yet to test that ...  

It works fine... Also no need to transfer to another account before withdrawal.

mustang said
Oh yes, I can't stand the music they play when the call is on hold waiting for Member Connect.

That music is REALLY annoying!!  

Indeed ... One track on a continuous loop!

dollarbill said
Duca sounds too good. What are the bad parts?  

- Still somewhat oldish way of doing banking (visiting branches, or calling and waiting for things more often than not) and branches are far apart

- reduced my credit score by 27 points with a hard inquiry when I had opened (Called them and they said yes they indeed made a hard hit to equifax! Sneaky since there was no borrowing and just a savings account!)

- convoluted manner of funds transfer between accounts & linking of external ones requires more visits

- read the limits and fees (inc inactivity fees)