DUCA HISA rate increase | DUCA Credit Union | Discussion forum

RobCleveland said
In conversation with a rep at DUCA yesterday and she informed me that DUCA will be increasing their rate on HISA accounts from 2.75% to 3.1% within the next few days.
Unconfirmed as of yet so take it for what its worth.
...Rob  

Apparently, it will be effective on June 29th so there should be an announcement later to-day or tomorrow.

Loonie said
This will no doubt apply to the Park account, for new deposits.  

I called and was advised that the new 3.10% applies to all existing as well as any new funds in the PARK account.

But, I forgot to ask whether funds from an existing maturing DUCA GIC is consider new funds.

I see your point. The maturing GIC re-invested in the HISA scenario didn't occur to me until after the phone call and I didn't want to call again. Good luck and if you don't mind, keep us updated.

Loonie said
People seem to find the DUCA savings offer confusing.
It will be just a continuation of the previous offer but with a different rate. The offer has always provided that rate could change.
All the money in the Park account will qualify which is, by definition, money that is new since the offer first started in 2021.
You can move your GIC money out of DUCA and will likely be allowed to re-deposit it to Park later, but I would advise you not to bug them about this on the phone; just go ahead and do it..  

You do have to call them to move the $ to the Park account...

As of this morning, the DUCA homepage is displaying 3.10% for the HISA Park account.

Stephen

Just got the DUCA email. So, it is now official.

mecassa said
Does this make DUCA the highest interest rate in Canada for HISA accounts?  

DUCA page says "promo rate." If it is promo, I currently have my funds with Meridian CU promo at 3.15%.
Close enough, and also whoever wants to sign for that Meridian CU promo today, it'll be just 3%.

COIN said

I asked about the Meridian 3.15% several days ago and was told "no such thing and never was such a thing". Weird. eh?  

That is correct, however, those that opened an account for 2.75% before the offer changed to 3.00% on June 9th had the base rate adjusted to upward to effectively pay 3.15% when combined with the original promotional bonus interest rate. so yes, " no such thing and never was a thing " true, but ...

Most financial institutions don't do a very good job of consistency and concurrency on their web sites, so my rule applies: everything on the web is Bullsnorts!
RetirEd

mustang said
I just discovered that the max amount check I can deposit into Duca using the deposit app is 10K
(Apologies if this has previously been noted)  

They have a document just for this here.