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Email this12:37 pm
November 4, 2014
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I noticed that through a particular GIC agent rates, http://www.fiscalagents.com are higher for the same financial institutions. For example, Duca Credit Union has GIC's of 1, 2, 3, 4 and 5 years at 2.34%, 2.47%, 2.49%, 2.51%, 2.81%. Compare at http://www.duca.com.
There is no promotional rates that can be higher like their 2.75% 40 months but compared to 1-5 year GIC rates they are mostly higher.
Meridian Credit union is another one with GIC's of 1, 2, 3, 4 and 5 years at 2.33%, 2.46%, 2.47%, 2.50%, 2.80%. Compare at http://www.meridiancu.ca.
Momentum Credit Union is another one with GIC's of 1, 2, 3, 4 and 5 years at 2.00%, 2.44%, 2.51%, 2.55%, 2.80%. Compare at http://www.momentumcu.ca.
There are others but these 3 caught my eye the most and found it interesting that there is a decent amount of a difference when compared to depositors directly with their financial institutions.
This is true more with 1-3 year GIC rates.
12:52 pm
November 4, 2014
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I noticed one more thing, Oaken Financial http://www.oaken.com has the highest monthly interest paying GIC rates ranging from 1 year at 2.30%, 2 years at 2.50%, 3 years at 2.55%, 4 years at 2.75% and 5 years at 2.95%.
IC Savings Credit Union agent through http://www.fiscalagents.com has interest paying GIC's of 1 year at 2.09% and 2 years at 2.19%, 3 years at 2.27%. They are the second highest monthly paying GIC's that I could find but who knows maybe there are better interest paying GIC's out there.
12:32 pm
November 4, 2014
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I did find another financial institution that is competitive paying monthly interest for 3 year GIC's at 2.47%. It is Alterna Savings Credit Union, http://www.alterna.ca and CS Alterna Bank, http://www.alternabank.ca which are insured separately DICO and CDIC.
They also have 2.50%, 3 year annual interest GIC's which is pretty competitive with most Manitoba credit unions and other financial institutions but for only 3 basis points less a year at 2.47%, you might as well get interest paid monthly in your account. For example, a $50,000 GIC would only receive an extra $15 a year interest when paid annually.
Their monthly interest paying 3 year 2.47% GIC is pretty close to Oaken Financial's 3 year 2.55% monthly interest paying GIC which seems to be the highest right now.
12:47 pm
November 4, 2014
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I just noticed that Outlook Financial has 2.35% 3 year GIC's paying monthly interest. Their 1, 2, 4 and 5 year GIC's paying monthly interest are 2.05%, 2.25%, 2.50% and 2.65% which are not bad except their 5 year is much lower than Oaken Financial's 2.95%
12:58 pm
November 4, 2014
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Assiniboine Credit Union, http://www.assiniboine.mb.ca/H.....s/GIC.aspx has 30 month GIC's that are pretty competitive.
They have a 2.60% 30 month annual interest paying GIC and a 2.475% 30 month monthly interest paying GIC as well.
Their monthly interest paying GIC's are also TFSA eligible which you don't see anywhere else. I could not find this option available anywhere but it could maybe exist.
9:49 am
November 4, 2014
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I found a shorter term higher GIC rate that looks like the highest out there. It is a 2.50%, 15 month GIC at Your Neighbourhood Credit Union for non-registered investments only, http://www.yncu.com/Personal/Rates/.
9:53 am
December 23, 2011
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Greg Franklin said
I found a shorter term higher GIC rate that looks like the highest out there. It is a 2.50%, 15 month GIC at Your Neighbourhood Credit Union for non-registered investments only, http://www.yncu.com/Personal/Rates/.
Minimum $20,000 and must be a resident of Ontario.
10:29 am
November 4, 2014
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Kanaka, yes I saw that but I was just putting it out there for anyone that may benefit from reading this forum and may or may not really reply to posts or leave posts on this forum.
I noticed through a GIC broker or registered dealer, http://www.hjminsurance.ca/fin.....gh-enough/ that Your Neighbourhood Credit Union also has 2.55% 15 month GIC's and 3.00% 5 year GIC's but they want a $75,000 as a minimum.
This is higher to much higher than their posted GIC rates for those that maybe already clients or others shopping around.
It always pays to shop around because you never know if a better rate or deal is out there and if it meets your eligibility and theirs.
12:33 pm
November 4, 2014
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PenFinancial Credit Union has 18 month and 30 month 2.35% and 2.50% GIC rates, http://www.penfinancial.com. They are not as attractive as the other credit unions and Oaken Financial but are that bad either.
1:23 pm
November 4, 2014
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For those that are checking out Manitoba credit unions and their GIC rates, Carpathia Credit Union, http://www.carpathiacu.mb.ca has a limited time 3 year rising rate GIC as follows, 1st year 2.00%, 2nd year 3.00% and 3rd year 4.00%.
The blended rate of 3 years is 3.00% which even comparing to Oaken Financial's 3 year 2.65% GIC's is much higher and CFF Bank has 3.00% 3 year rates by is limited to TFSA's only.
Even comparing to other Manitoba credit unions and other credit unions GIC's, 2.5% to 2.75% for 30 month to 40 month terms seem to be the highest out there.
Shop around as it pays to compare.
4:52 pm
November 4, 2014
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Another Manitoba credit union is paying competitive rates. Austin Credit Union, http://www.austincreditunion.c.....nal/Rates/ has 3, 4 and 5 year GIC rates of 2.60%, 2.75% and 3.00%.
They also have 3, 4 and 5 year RRIF, LIF, PRIF rates of 2.65%, 2.85% and 3.10% as well.
6:17 pm
August 9, 2014
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Is Carpathia Credit Union available to people from the other province, it seems like a nice deal for me.
8:49 am
November 4, 2014
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Peoples Trust Company has a 2.45%, 15 month GIC rate for non-registered investments only with $1,000 minimum investments.
However, they do have 2.40%, 1 year GIC rates for non-registered investments and RRSP's as well. Their minimum deposit is only $1,000 too.
7:13 am
November 4, 2014
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Belgian Alliance Credit Union, http://www.belgianalliancecu.mb.ca is a Manitoba credit union that has 2.50% 28 month and 2.75% 45 month GIC, RRSP, RRIF, TFSA rates.
They are not the highest but are not bad either. Take care and shop around to get the highest rates.
8:09 am
November 19, 2014
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It can be worth it to go through deposit brokers if you have hard to place GIC funds (ie: need more coverage or already have funds with the usual suspects). I went to one this week and witnessed them negotiate on the phone with a credit union. They got me a rate very close to what I wanted and placed it with a CU I knew nothing about (still DICO covered) and when I looked later, it was a rate higher than what was offered on the CU own website.
10:17 am
November 4, 2014
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Koogie, I'm glad to hear that using a GIC broker or deposit broker worked out well for you. In my opinion, we don't have enough competition but whenever we find some it is great for all of us, depositors, investors, consumers.
Take care and shop around as it pays to compare.
5:04 pm
November 4, 2014
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Motor City Community Credit Union, http://www.mcccu.com/Personal/Rates has 2.55% 30 month GIC rates which are comparable to Steinbach Credit Union's 2.60% 30 month GIC rates and other 30 month GIC rates.
Take care and shop around to compare as it pays.
8:06 pm
April 6, 2013
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Jon said
Is Carpathia Credit Union available to people from the other province, it seems like a nice deal for me.
Maybe as an associate instead of a member. This is from Carpathia: Become a Member:
Member Information
Carpathia is a closed bond credit union serving the financial needs of Manitoba’s Ukrainian community. This includes:
1. Any person who is of Ukrainian origin and who resides in the province of Manitoba;
2. Any member of the immediate family of a person described in the above clause;
3. Any body corporate, provided not less than 50% of its voting shares are held by, or, in the case of a body corporate without share capital, the majority of its members are made up of persons of Ukrainian origin.
4. Any non-incorporated organization whose primary aim is to advance or develop the interests of the Ukrainian community, provided the majority of the organization members are of Ukrainian origin.....
Associate Information
Carpathia Credit Union Limited, a closed bond Credit Union under its by-laws has established a provision for Associate Status that allows the Credit Union to do business with Individuals, Corporations, and Organizations who do not qualify for Membership.An Associate has access to the same products and services that are available to Members, and will earn interest and be charged fees in the same manner. In addition to banking services, Associates are entitled to participate in the Carpathia Credit Union’s patronage programs.
Associates are treated in an identical fashion to Members in all respects, with the exception of the following:
1. An Associate does not hold or purchase a share in the credit union, instead is subject to a one time non-refundable application fee; and
2. An Associate is not entitled to vote at any meeting of Members; and
3. An Associate is not eligible to become an officer or director of Carpathia Credit Union.
....
12:17 am
November 4, 2014
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As Oaken Financial's 2.50% 18 month, 2.60% 2 year and 3.05% 5 year GIC rates promotion is coming to end on December-19-2014, Meridian Credit Union has 2.50% 2 year rates and 2.85% 5 year rates which is not bad but comparable to other 5 year GIC rates.
In this case, I am only comparing GIC rates in non-registered accounts with other Manitoba credit unions and the other highest paying GIC payers out there.
Remember that ICICI Bank of Canada, State Bank of India Canada do still have 3.00%, TFSA and RRSP rates only.
9:43 am
November 4, 2014
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Duca Credit Union just matched Meridian Credit Union's 5 year GIC rate of 2.85% and their 1 and 2 year is just a bit higher at 2.36%, 2.51%, http://www.fiscalagents.com.
Some competition is brewing between these two Ontario credit unions.
Please write your comments in the forum.