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Me-Dian Credit Union adds all-digital membership opening; open to all Canadians
May 30, 2019
9:40 am
Doug
British Columbia, Canada
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As a follow-up to this thread announcing four (4) new Manitoba credit unions that permit all-digital account opening, I subsequently checked each of Amaranth Credit Union, Belgian-Alliance Credit Union, and Me-Dian Credit Union, and confirmed that, somewhat surprisingly, Me-Dian Credit Union has added a similar all-digital membership opening to all Canadians. Interest is either calculated daily and paid monthly, in the case of the Plan 24 Savings account, or calculated and paid monthly, in the case of the Regular Savings account. Term deposits are similar to existing Manitoba CU virtual banking branches, but nonetheless worthy of inclusion in the "GIC chart".

I haven't been able to find out the rate of their Plan 24 or their Regular savings accounts, so can't confirm if they'd be eligible for the main HISA chart. If anyone can find this information, please post it in a reply.

They are also worthy of at least a profile page, too.

Cheers,
Doug

May 30, 2019
10:39 am
Shawguy
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Their savings rates are terrible.. But the GICs rates are ok.

Also look at their $45 a month chequing account. Lol

Screenshot_20190530-123604.png

Screenshot_20190530-123625.png

May 30, 2019
10:52 am
Doug
British Columbia, Canada
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Shawguy said
Their savings rates are terrible.. But the GICs rates are ok.

Also look at their $45 a month chequing account. Lol

Screenshot_20190530-123604.png

Screenshot_20190530-123625.png  

Oof! They might be worthy of inclusion in the GIC chart and a profile page/forum then, but agreed that their Savings account rate is terrible (like lower than HSBC terrible, which is pretty bad). At least HSBC occasionally offers short-term promo rates to boost returns. That chequing account fee is...my God, awful. I get they're focused on First Nations clients and they might be the only credit union in that part of Winnipeg (you would know better than I), but geez, why wouldn't someone just open up a bank account with another credit union and use their ATM fee-free? sf-cool

Thanks, though, for sharing the (poor) Savings rates. Never thought to check membership opening screen, but good strategy. They need an all-inclusive "Rates" page and a website refresh (and a product strategy rethink!).

Edit: I see you're on your mobile phone. 😉

Cheers,
Doug

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