Integration weekend: Sep 22-24, we've been warned! | Page 35 | Hubert Financial | Discussion forum

phrank said

So what you say you were told here is a big deal to me, because it has large potential ramifications and I've never heard of a financial institution doing this before. I discussed this with other people I know who use Hubert and we all asked them by various means if it was true. The final person I know who said they would look into it just replied and all of them said Hubert told them it was not true, that the rate that was current when you made the request is the rate you would get on your GIC through this current, cumbersome process.

Hubert does offer rate guarantees, with limitations. This is from their FAQ's:

The Fine Print
…

Do you offer rate guarantees?

Sure do. We offer rate guarantees for new deposits and registered transfers:

• up to 14 days for new members
• up to 45 days for registered transfers from other financial institutions

If you wish to place a rate guarantee for any of the above, please contact us to reserve your rate today.

The wording suggests that rate guarantees are not automatic and one needs to contact them to obtain a guarantee.

And from FAQ
Terms
"You cannot update maturity instructions inside internet banking but you can contact us to update. All term investments are set to automatically renew unless otherwise instructed. Don’t panic if you forgot to notify, you have 14 days grace period after renewal to update your instructions".

If the call is not available, do I allow to use chat or email to update the instruction? is update includes cancel renewal? or only allow update to another terms ? not very clear.

just online my e statement:
even it is not big deal, online I can see my Accelerate share $5 & Hubert sharer $5, but in e statement I cannot see the Accelerate member share $5.

Try the chat feature see what can be done using that.

thegov said
FYI: They did honour the 5.75% rate for the GIC I requested 2 days before the rate cut. However it sounded like a real manual mash up -- info going to the back office to be entered into the system and then GIC created - and apparently they were about a day behind. My funds left external bank before midnight prior to the day of the rate drop. Anyway, would be curious to see what happened to anyone who purchased late on the day before the drop - as it likely would not have been entered into the system in time.
They actually put all of my savings account (balance plus new money) into the GIC which was not what I had requested although its moot as so small - but instructions are not being followed precisely.
Likely will not have to deal with them now till 2025 -- hope things are closer to the original Hubert by then.  

The same for me today. Phone calls, manual transactions, delays (initiated last Wednesday, finally fulfilled today). But...very good service from my CSR, and no problems having the 5.75% two year rate honoured.

Someone on RFD reported that customer service rep at Access told them:
Hubert is eventually going to restart the happysavings.ca site as it is now still alive but redirects you to the Access site. Also linked external banks will return online.

https://forums.redflagdeals.com/hubert-access-cu-transition-2642712/5/

savemoresaveoften said

Makes zero business sense if u ask me….  

It doesn't mean much if it's just a domain name, the back end could be all the exact same. Where it could make some business sense is if they intend to keep Hubert going, it would prevent people from contacting Access when they should contact Hubert or visa versa.

On another note, everyone I know who uses Hubert has now had their TFSA GIC terms honored. Some had a lower interest rate applied initially until complaining and I waited until they told me it was resolved before giving feedback, so make sure you check your details if you haven't already.

scrooge said

Hubert members were 'onboarded' to the Accelerate system 'backend'.

I had accounts at both, so I still log in with my Accelerate password. My Hubert accounts all show up there now along with my Accelerate accounts. My NEW Hubert membership is my old Accelerate membership number.

They went to great lengths to get rid of the Old Hubert backend.

Access C.U. chose the Accelerate model over the Hubert model. Obviously they hated the self serve features of old Hubert!

Welcome to Accelerate the new Hubert. There's no going back.  

Yeah, that's what I said.

lol I guess another way of saying it is ….. did they remain with an expected amount deposits after the mini exodus? I can just imagine the inside sales job…..oh we might lose a few customers but no major loss.

I have taken 2 chunks of $50,000 away and another $30,000 will leave in the near future. But for transparency, I had plans to leave anyways. But this mess has quickened some of the processes and has firmed my mind to get out as each GIC matures.

So they haven’t seen the full affect of the “leavers”. The rates won’t entice me to stay. Nor will the resurrection of the old, but better, Hubert website entice me.

That old saying applies here….if it ain’t broke….don’t fix it.

I called Hubert last week to have something done. Queue of about 20. Requested a call back. Over an hour later they called. The lady took my info and 'submitted the request' for me.

After a week of checking my accounts every day, my request was not completed.

So I called again yesterday, this time was picked up right away, talked to Eric who completed my request while I was on the phone and waited while I logged out and back in to confirm it was done.

So if you get a call back and they 'put in a request' for you, it is likely an Access Credit Union employee who doesn't know what they are doing, as far as Hubert accounts go, so don't wait too long before you call again! I'll only give it 1 business day next time!

I did try chat first, a week ago, and was told that anything to do with RRSPs must call in.