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Email this7:27 am
November 18, 2017
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When I contacted Vancouver City Savings Credit Union about RRIFs, I discovered that they had become more competitive, at least temporarily. They've had a short-term "Jumpstart" account (like last year's) for a few weeks, paying 5.25% (6% for registered accounts, which are inherently less mobile) until March 14th on NEW MONEY.
Like last year's Jumpstart, one has to visit or call in to add funds, but withdrawals are free if first transferred to another account with free withdrawals.
I'm irked they never announced this to us in our recent statements or ads! A number of their rates - like GIC and RRIF rates - are suddenly more competitive, many over 5%. The basic savings accounts still pay nothing though.
RetirEd
10:45 am
September 5, 2023
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RetirEd said
When I contacted Vancouver City Savings Credit Union about RRIFs, I discovered that they had become more competitive, at least temporarily. They've had a short-term "Jumpstart" account (like last year's) for a few weeks, paying 5.25% (6% for registered accounts, which are inherently less mobile) until March 14th on NEW MONEY.
6% JumpStart rate?
I dont see that rate advertised anywhere on the site
Maybe you can point us to the appropriate link
The closest I see is RRSP 1 yr 5.2%
9:06 pm
April 6, 2013
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Jumpstart your savings by up to 6.00%.
Get flexibility, great returns, and support your local community with a promotional rate on our Jumpstart™ High Interest Savings account until March 14, 2024. Eligible with new deposits only. Conditions apply.¹
¹ Please refer to Terms and Conditions for eligible new deposit definitions. New deposits are funds that originate from sources other than accounts or investments with Vancouver City Savings Credit Union or accounts with Aviso Wealth. Vancity maintains the right to modify, shorten, extend, suspend or withdraw this promotional offer at any time without prior notice.
Jumpstart account must be new and the funds must be new to Vancity:
5. Promotional Interest is not eligible on:
- Money already on deposit at Vancity in the form of a term deposit, a previous Promotional Account or on deposit to any other account types, including (but not limited to) Pay As You Go Chequing, Chequing Plus, Access Chequing, E Package Chequing, USD Chequing, Plan 24 Savings, Business Self Serve Package, Business Full Serve Package, Business Jumpstart High Interest Savings, Independent Business, Business USD Chequing, and Community Service Package accounts.
- Funds withdrawn within the previous 30 days and re-deposited with Vancity, including funds that we, in our sole discretion, reasonably believe were withdrawn from a Vancity account and then deposited to a Promotion Account from another financial institution within the previous 30 days.
- Funds deposited after the end of the Promotion Period.
Promotional Period is November 14, 2023 to March 14, 2024. Need to open a new Jumpstart HISA during the Promotional Period. Any existing Jumpstart HISA's opened before don't qualify.
4:50 am
December 22, 2022
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VanCity is only available to B.C residents. Correct?
9:47 am
April 6, 2013
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Yes, BC residency is still required:
Easy steps to become a member.
① Meet these 3 simple requirements
To become a member, you must be a resident of BC, have a Social Insurance Number (SIN) and be ready to deposit $5 at account opening for membership shares.
…
5:59 pm
November 18, 2017
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I've dumped all my loose money into the 5.25%. Let's see if my pension cheques depositing into my chequing account qualify as "new money" after that chequing account pays bills during the month. Tangerine's "total assets as of [date]" wording seems to preclude that; VanCity has yet to show their hand.
The deal's still worth it for me, if only slightly, but allowing two sets of pension cheques would sweeten it.
RetirEd
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