It's Time For Oaken To Increase GIC Rates! | Oaken Financial | Discussion forum

I too am waiting for mine to raise their 1-yr rate. Then I'll pounce.

Home Trust will keep all its deposit taking channels if it wishes to see that upcoming upgrade to its debt ratings. This is from DBRS' March 24, 2023 report DBRS Morningstar Confirms Ratings on Home Capital Group Inc. at BBB (low) and Home Trust Company at BBB, Trends Remain Positive:

RATING DRIVERS

DBRS Morningstar will upgrade the ratings if the acquisition is completed [by a wholly owned subsidiary of Smith Financial Corporation] without material changes to HTC’s structure, leverage, and operating model as a standalone OSFI regulated institution, along with further progress in diversifying funding sources and continued strong financial performance.

…
RATING RATIONALE

Funding and Liquidity Combined Building Block (BB) Assessment: Good/Moderate

Although on a downward trend, the [Home Capital] Group continues to be highly dependent on broker-sourced deposits, which comprised a still-high 69% of its $15.9 billion total deposits at December 31, 2022. Positively, HCG continues to grow its direct-to-consumer channel through its Oaken Financial offering, and directly sourced deposits have increased 12% YoY to $4.9 billion [31% of its total deposits]. Additionally, the Group further diversified its wholesale funding, …

GR said

"It's Time For Oaken To Increase GIC Rates!"

Apparently, that time has come ➡ https://www.oaken.com/gic-rates/

Fill Yer Boots❗

Dean