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2019 12 13 Ukrainian CU (UCU)
December 12, 2019
8:00 am
Nehpets
Ontario
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Effective 2019 12 13 I am told the Ukrainian Credit Union, (UCU), will be increasing their GIC rate specials to:

13 months 2.55%
19 months 2.65%
28 months 2.75%
42 months 2.90%

from:

11 months 2.50%
18 months 2.60%
22 months 2.70%
35 month 2.75%

presumably for new money, but should be verified on their website / branches in Ontario.

They are also offering Class A shares which are giving 4% return with dividends being paid quarterly. Minimum purchase is $1.000 and max is $750.000.

Stephen

December 13, 2019
5:49 am
Loonie
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Does anyone think these odd numbers of months actually mean anything?
or do they just pick them out of a hat?

December 13, 2019
7:50 am
Nehpets
Ontario
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Loonie said
Does anyone think these odd numbers of months actually mean anything?
or do they just pick them out of a hat?  

Loonie,

I was wondering the same thing about what the possible business / marketing / investment strategy might be when a FI offers a GIC rate for a term other than an annual anniversary.

Thanks for reading my mind!...sf-laugh

Stephen

December 13, 2019
12:09 pm
GR
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Loonie said
Does anyone think these odd numbers of months actually mean anything?
or do they just pick them out of a hat?  

It could relate to FI trying to match portfolio of GIC maturities to maturities of mortgages/loans portfolio.

December 13, 2019
5:27 pm
Bud
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not unusual everyone tryin to squeeze the juice buyer on a good rate wants the extra month or two

December 16, 2019
2:18 pm
ParamaPolly
West GTA, Ontario
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I thought it might be maturity matching, too, but then do they issue mortgages for those periods too? Possibly they ran a maturity report and hoping to retain maturing GICs with a good rate. But then - why not just do a mailer to those Members?

ParamaPolly
Parama Credit Union

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