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Email this8:41 am
November 22, 2023
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The One-Year Quarterly Term* 5.25% seems like a good deal to me.
No other FI is offering a rate this high on 1 year term.
This GIC also has the added benefit, of you being able to cash out early
without losing interest.
9:01 am
January 12, 2019
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.
Their 1Yr Quarterly Term GIC is Very Well known here, and used quite often by many.
It's also one of the few remaining good features from the old/original Hubert that keeps Access-Hubert on the map.
R.I.P. Old/Original Hubert 
- Dean
" Live Long, Healthy ... And Prosper! "
9:17 am
November 3, 2022
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This product now appears to be positioned as a "loss leader" for Access Credit Union, at least at the moment.
Note that since the merger, it is not as easy to cash out the deposit, either during the term or at maturity, as this now involves telephone instructions, plus a waiting period for the back office transfer to occur.
Also, the interest rate escalation between quarters has been greatly expanded - from .1% to .5%, so that you don't get such a good deal on interest until later in the term.
10:16 am
November 22, 2023
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Rail Baron,
My point was, for anyone interested in a 1 year term and prepared to wait the the full year to final maturity, 5.25% it is a good deal. For anyone finding themselves in a position where they need the funds early, they have the opportunity to cash out after the 1st., 2nd or 3rd Qtr. and would receive all accumulated interest up to what ever qtr. they withdraw out the funds from.
Anyone with a standard 1 year term that needed to cash out early would receive NO interest at all.
This is about as good as it gets, with flexibility. If necessary, one has to cash out early, they receive all accumulated interest, which btw is higher than most regular savings accounts.
I admit the old Hubert is gone, and the Access CU website is a big step backwards for Hubert customers. I personally have had to make several phone calls since integration. Apart from that being a pain, I have received good & professional responses from the Hubert virtual reps. On July 24th I made a phone call, to arrange for a 20K. transfer of funds from my external linked FI and a purchase of new 1 year quarterly term, everything was posted, within 24 hours. Not as fast as the old days but it still worked.
10:39 am
August 4, 2010
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It won't be costing Hubert the full 5.25% rate. Some people will effectively use it as a 3-month GIC at 4.5%, a six month at 4.75%, or a nine month at 5%. And a subset of those will be getting 0% for some days if they cash out between quarters.
Probably brings the actual 1-year cost a bit closer to their actual 1-year rate. It would be interesting to see their weighted cashout numbers, especially for the old versus new rate structure.
What I do dislike is is their new, prominent "Earn up to 6%*" advertising, which is completely misleading and sleazy.
12:40 pm
May 20, 2016
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Do we still need to call to purchase the GIC? Have any old good online banking features of Hubert restored?
1:41 pm
November 3, 2022
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davidgeorge said
Do we still need to call to purchase the GIC? Have any old good online banking features of Hubert restored?
Not only must we call in, but the hours have been curtailed to Monday - Friday only. When I started banking with Hubert, they offered 7 day a week phone banking plus a web site that could do a lot more than the Access system.
I must confess, this thread prompted me to double check the Hubert web site to make sure there was no Saturday phone banking. I definitely recall when they got rid of Sunday phone service, but I was hoping that I might have been wrong about the demise of Saturday phone banking, too.
If there had been a person on duty today (or a workable way to set up a term deposit on their web site), I might have bought a $10k GIC. But there isn't, and maybe I'll find better investment options by next week when Hubert is back in business.
2:02 pm
May 20, 2016
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It seems that new clients can open accounts through old Hubert website: https://happysavings.ca/open-an-account/
What is going to happen if an existing client goes through this new account opening process?
4:45 am
November 6, 2018
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davidgeorge said
Do we still need to call to purchase the GIC? Have any old good online banking features of Hubert restored?
You can also send instructions by email without having to call Hubert. I have had success in doing so.
6:02 am
February 7, 2019
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monitor said
The One-Year Quarterly Term* 5.25% seems like a good deal to me.
No other FI is offering a rate this high on 1 year term.
This GIC also has the added benefit, of you being able to cash out early
without losing interest.
It is a good deal but a different deal than it used to be. The last Hubert Rate change introduced a much wider quarterly interest spread.
Under the previous schedule that current 5.25% 1Yr GIC would have yielded 5.10/5.20/5.30/5.40%. During the period of increasing interest rates, many of us would call after the 1st or 2nd Qtr's interest was posted and flip the GIC into a new higher yield one. Better for us than Hubert.
The current schedule yields 4.50/5.00/5.50/6.00%. This encourages us to keep our $ in which on the surface may appear as a negative to us. But, as we're now into a period of declining interest rates this may again be better for us.
| CGO |
12:20 pm
September 28, 2023
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The rate and redeemability of this product is awesome.
The methods to access it is not, the online transactionality disappeared last year, one must phone in or chat to make anything happen now.
So I would not recommend it for money you plan to move often. But for an emergency fund that you want to remain available always, and can wait a few days for funds to withdraw it is a perfect place to park it.
Keep in mind it is not CDIC insured, it is a Manitoba credit union guarantee instead.
If this sounds all good to you, I would not delay in setting it up... with rates dropping all over, I think they will follow suit in the near future.
1:23 pm
November 20, 2022
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BillieBob said
You can also send instructions by email without having to call Hubert. I have had success in doing so.
You may not do so from April 2024. This is the reply I got at then:
Our policy has recently changed for taking term instructions over email and you will need to call in this request.
I believe you can also do so via the secure portal of Hubert Chat.
1:52 pm
January 25, 2024
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BTC said
I believe you can also do so via the secure portal of Hubert Chat.
Technically no, you have to call so they can authenticate you (which is so dumb as they ask your DOB, address and other trivial things somebody can get from your garbage you put at the curb... 'secret word' was a good way for authentication) BUT it depends on agent answering your call. Some might know you if you called more than few times and got the same agent.
On the other hand, calling agent can confirm you are who you are instead of YOU trying to empty an account pretending you are your spouse...
2:11 pm
November 6, 2018
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BTC said
You may not do so from April 2024. This is the reply I got at then:
Our policy has recently changed for taking term instructions over email and you will need to call in this request.
That hasn’t been my experience. At the end of June, I redeemed a term deposit early and then purchased a new term deposit via instructions in an email.
7:54 am
February 7, 2019
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everhopeful said
The rate and redeemability of this product is awesome.The methods to access it is not, the online transactionality disappeared last year, one must phone in or chat to make anything happen now.
So I would not recommend it for money you plan to move often. But for an emergency fund that you want to remain available always, and can wait a few days for funds to withdraw it is a perfect place to park it.
Keep in mind it is not CDIC insured, it is a Manitoba credit union guarantee instead.
If this sounds all good to you, I would not delay in setting it up... with rates dropping all over, I think they will follow suit in the near future.
Actually, we always had to call in to close a quarterly GIC before full maturity. We just can't buy new ones online anymore.
BTW I called them last week to confirm maturity instructions on our GIC's as we can no longer see or alter online. No wait time. Good old Hubert friendly service ...
| CGO |
1:01 pm
August 17, 2010
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I just called to get a gic with rate special and one of the old Accelerate girls answered right away! They gave such personalized service, it was nice to chat with her.
1:17 pm
November 3, 2022
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toto said
I just called to get a gic with rate special and one of the old Accelerate girls answered right away! They gave such personalized service, it was nice to chat with her.
What was the special rate?
8:33 am
November 3, 2022
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I did wind up moving funds into a Hubert 1 year quarterly term. First purchase since their computer system was amalgamated. It worked reasonably well on the phone - as long as one can make the time during their business hours, which are relatively limited compared to other FIs I deal with.
9:57 am
November 20, 2022
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CAD said
Technically no, you have to call so they can authenticate you (which is so dumb as they ask your DOB, address and other trivial things somebody can get from your garbage you put at the curb... 'secret word' was a good way for authentication) BUT it depends on agent answering your call. Some might know you if you called more than few times and got the same agent.
On the other hand, calling agent can confirm you are who you are instead of YOU trying to empty an account pretending you are your spouse...
I just purchased a joint 1 year quarterly term through the secure portal of Hubert Chat. I have been using this means to provide almost all of my requests in the past.
I understand your concerns on your spouse may drain your account.
Rail Baron said
It worked reasonably well on the phone - as long as one can make the time during their business hours, which are relatively limited compared to other FIs I deal with.
One may try the secured chat portal next time while sitting in the office without having to making the call.
They will verify you in the chat. It only takes them 3-5 minutes to complete the request on their end.
By the way, I deposited a cheque to my savings account on the spot and they funded the new term right away. Holding period is irrelevant for this case.
10:09 am
August 4, 2010
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I called in today to trigger a small "push" to an external account, and the friendly CSR asked for my "secret word".
What is annoying is that as a Hubert customer we use the Access app, which knows that we have Hubert accounts, but doesn't display the separate Hubert support# in the Contact section. One click's the number to call, but the voice just tells you that if you are a Hubert customer to call this separate #, which you have to scramble to remember or write down. Boo, hiss... 🙂
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