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Email this2:06 am
January 1, 2018
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I like that [tranches] approach, RetirEd, and that's exactly what I'm in the process of setting up. and Bonus ... I have a new word to throw around at family and friends gatherings. 
1:56 pm
December 16, 2020
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yes I too like Hubert's quarterly and their customer service is great. Only thing I'm wrestling with is placing the majority of my savings there. I know their Credit Union Insurance states unlimited, but has anyone any real view on this?
i.e. how many here are ok with Hubert holding bulk of their cash/in just one Credit Union? I am CDIC maxed out in several locations and would like to diversify a bit more. Feedback appreciated.
2:00 pm
February 7, 2019
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As odd as MB politics may appear at times, they guarantee all of their CU deposits. Good enough for me and I keep more in MB than in ON ...
And, Hubert have always been good to deal with...
| CGO |
2:31 pm
December 16, 2020
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Thanks for that feedback ... yes it sounds good, but in the event of a very large meldown, I note this:
"Is DGCM part of the Manitoba Government?
DGCM is a Government Agency, established under The Manitoba Credit Unions and Caisses Populaires Act. A Board of Directors, appointed by the Lieutenant Governor in Council of Manitoba, oversees DGCM.
Does the Government of Manitoba also cover deposits?
No. There is no legislated requirement for the Manitoba government to guarantee deposits."
2:38 pm
February 7, 2019
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ExtraSauce said
Does the Government of Manitoba also cover deposits?
No. There is no legislated requirement for the Manitoba government to guarantee deposits."
Just like CDIC ...
| CGO |
2:44 pm
December 16, 2020
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True ... but I've always held the assumption, perhaps wrongly, that in the event things were to really go south with the banks in general, Bank of Canada would have to step in to prevent the system from toppling, but perhaps that has been a pipe dream 😉
3:06 pm
April 6, 2013
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Sunova CU (Hubert Financial) is not one of the domestic systemically-important banks (D-SIBs) in Canada. Its toppling would not bring down the Canadian financial system.
Bank of Canada may just let the Manitoba government handle it.
Also, don't assume that assistance will have full reimbursement for all the depositors. There are lots of possible solutions. You may not like some of the possibilities.
3:38 pm
October 21, 2013
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I see Hubert as a good place for relatively short term funds. Occasionally I have quite a bit of money there, but not usually for too long. I have concerns about the MB economy, so prefer to have quick access available.
I would never put all my funds in one FI, and certainly not outside my home province (ON).
I anticipate that Hubert will become less attractive in a couple of years after it is fully integrated with Access CU. It would be a miracle if their high quality customer service and good offerings survive intact.
3:52 pm
February 4, 2017
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ExtraSauce said
yes I too like Hubert's quarterly and their customer service is great. Only thing I'm wrestling with is placing the majority of my savings there. I know their Credit Union Insurance states unlimited, but has anyone any real view on this?i.e. how many here are ok with Hubert holding bulk of their cash/in just one Credit Union? I am CDIC maxed out in several locations and would like to diversify a bit more. Feedback appreciated.
I'm in a similar situation. I love Hubert customer service and the rates are good but one should never put their eggs in one basket.
I'm hunting for another credit union with good rates but not in Manitoba.
3:59 pm
December 16, 2020
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Here in BC our bricks and mortar Credit Unions are only a little better than the banks (the horror) for interest rates. I'd prefer to keep it all close to home, but where? The last nice hit I received in BC was the 4% from Coast Capital. Now we are definitely scraping the barrel.
4:01 pm
February 7, 2019
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I don't think anyone suggested all eggs in one basket.
Hubert is generally good. Tangerine is ok though not as good as it used to be from a savers perspective. On an on...
CDIC, DGCM, etc... None of them, I think, have been tested in 40 or 50 years.
So, who knows...
Do what makes you feel good, not what doesn't. We're all a little different ...
| CGO |
4:11 pm
February 4, 2017
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ExtraSauce said
Here in BC our bricks and mortar Credit Unions are only a little better than the banks (the horror) for interest rates. I'd prefer to keep it all close to home, but where?
I deal with FirstWest here in BC. You can sometimes get better rates than what they post. Lately they've offered 1.6%. There's a couple of other credit unions, Prospera being one, but the rates were abysmal when I checked. If you come across something interesting let me know.
4:11 pm
December 16, 2020
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Tangerine offered me 2% untiil Jun 30 whih I may begrugingly take just to satisfy my concern about excess going into Hubert. It becomes a tiresome game of chase the teasers with Tangerine.
Thanks for all the feedback here. If any BC opportunities pop up, I'm all ears/eyes.
Yes Propsera, Envision Financial, Vancity, I've had dealing with most all, but their rates are not up to Manitoba rates at all. I'll check at First West - thanks.
Correction - I see FirstWest is parent of Envision Financial. I will dig around at their different affiliates.
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