Wow, Duca new 6% HISA rate | Page 4 | DUCA Credit Union | Discussion forum

Email 03/27 @ 9:32, in part ...

"We wanted to provide you with an important update regarding our 2024 Spring Earn More Promo at 6.00%. Due to its overwhelming popularity, we will be closing this promotion to new deposits effective March 27, 2024. Thank you to those Members who took early advantage of this great offer while they had the chance."

beenba said
Opened this 6% account last week. Just did a me-to-me transfer pulling $ into DUCA. Called my local branch and was told they are not accepting any transfers into the promo account anymore. They are not able to cancel the me-to-me I did 5 minutes earlier.....this is my last straw with duca.  

I know, their tactics of announcing the day AFTER they cancel the promotion pisses many off. Makes it not worth dealing with them even if their rate is good. It's horrible.

Been out of country
Tried to call when on vacation and they failed to call back. Called now and it’s closed. Count me In for cleaning out funds from previous earn more promo. Also they have reduced the daily xfer limit to 20k now down from 25k.

I hated the fact I always had to maintain and set up new promo accts and when I did the old ones sit dormant so you have like 5 accounts. This is the kick in the pants I needed to go elsewhere. Good bye

A wise man once said, top tier people works at big5. Second tier works smaller banks.
Third tier at credit unions…
Judging from how poorly Duca executes its promo rate plan, that seems to confirm the above statement.
I did find credit union in general off much better customer service, just not the smartest people running the show at the top….

golftime said
SCAMMERS Fool me once shame on you, fool me twice shame on me
Got caught in interest drop previously
I already had accounts at Duca, so easily set up the 2024 Spring Promotion account and was able to transfer money in directly.
Transferred money from Tangerine to Simply to and to Duca on March 26. Had to use savings account because there was no option to deposit it into Spring Promotion account which I had used previously. Thought that would be the best option since phone calls usually take at least 45 minutes for a response.
Found out through email today that promotion is over as of today the 27th and after my subsequent phone call today they would not honour the promotion, or release the money from the 10 day hold so I could transfer it back. Insult to injury they get to keep my money to make interest for those ten days.
It is time to close up all my accounts at Duca Good bye forever  

The guys are watching our patterns and our links. They are playing games. I find Tangerine played me recently knowing somehow my promotion was up and DUCA closed its doors on the same day. They know the links. There are no coincidences in the financial sector. You got to change things up and stay ahead of them. I had no choice but to take the 5.75% 4 month CIBC promotion. It's more of a pain to transfer into but Tangerine is not going to benefit from me taking a 3.75% offer, which is below what others are getting. I don't forget easily.

Duca defines the word Promo as: Pull Rug Out More Often.

It's the same old story ... Duca does something sneaky or stupid, and then after Member Connect agents fail to do the right thing (until management tells them that they can), customers complain to branch managers to fix problem. Upper management then sends out apologetic email that promises to fix any bad faith errors (like moving money being held into 6% account because it's way that Duca always allows).

Okay Duca, Im ready for your next magic carpet ride that will give me rug burn and a bad rash.

mebe said
Duca defines the word Promo as: Pull Rug Out More Often.

It's the same old story ... Duca does something sneaky or stupid, and then after Member Connect agents fail to do the right thing (until management tells them that they can), customers complain to branch managers to fix problem. Upper management then sends out apologetic email that promises to fix any bad faith errors (like moving money being held into 6% account because it's way that Duca always allows).

Okay Duca, Im ready for your next magic carpet ride that will give me rug burn and a bad rash.  

Per my earlier post on Mar 15, I suspected they'd do this again. In fact, they nearly confirmed then they'd be be doing it again. So, I chose to not bother with their "offer" ...

cgouimet said

Per my earlier post on Mar 15, I suspected they'd do this again. In fact, they nearly confirmed then they'd be be doing it again. So, I chose to not bother with their "offer" ...  

Yes, on March 15 when I saw the abrupt end of the 2023-2024, I felt it was to screw those that had to pull out their money and bring it back. There would be a standard 10 day hold and a 100K cap on transfers. Plus no movement on weekends. Then the holiday weekend has 4 days. They are not dumb, they are strategic scammers.

They are just dumb to cancel the 5.25% promo, then offer the new 6% promo as a new money only promo. Yet they let people move money out and then back in and earn 6%. So they just end up having similar amount of deposit, but pays 6% instead of 5.25%. At to make it worse, piss off a whole bunch of potential new customers, while only pleasing a small amount of existing members who now earn 6% instead of 5.25%.
And now dont have a choice but to close the door of this new promotion after 1 week. The VP who approved the design of these promo should not have a job, these type of new money promotion has been around for years, cant they just a spend a few minutes and see how other banks do it....

Lodown said
For those who got in before the abrupt cutoff on March 27th, it appears you will not be able to add any additional funds to the account.

 

You are right. That’s weird. Just tested and they don’t allow adding funds to the promo account. Not particularly transparent with their offers. Obviously attracted all the money they needed and had to put a plug in, but wasn’t it foreseeable?

My first experience with DUCA. Made us visit the branch twice. The company gives a feeling of deja vu. Our banks feel a bit dated anyway but DUCA isn’t even from this century.