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July 11, 2019
2:41 pm
tonster501
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Savings rate 2.40% to 2.30%

July 11, 2019
4:40 pm
GICinvestor
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I just moved 50k from Accelerate to Implicity because of the upcoming conversion at Accelerate. I went through a conversion years ago with Westminster Savings....not always a smooth process. And Implicity is still at 2.4. All done without a crystal ball!! I guess it will stay there for the time being.

July 11, 2019
6:22 pm
Doug
West Kelowna
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GICinvestor said
I just moved 50k from Accelerate to Implicity because of the upcoming conversion at Accelerate. I went through a conversion years ago with Westminster Savings....not always a smooth process. And Implicity is still at 2.4. All done without a crystal ball!! I guess it will stay there for the time being.  

Credit unions go through both core banking and online banking system transitions routinely, mainly because they use third-party vendors to develop a new system for them. I don't expect many problems for AcceleRate and Crosstown Civic. Indeed, they quite likely are migrating to a more modern, mainstream core banking and/or online banking system. sf-cool

Sunova Credit Union, which develops its own banking systems in-house, recently refreshed its online banking system and has confirmed to me they're going to refresh Hubert Financial online banking as Hubert GO following lead of Sunova - they expect to do this later this year.

Alterna Savings and Alterna Bank have planned migrations from MemberDirect to Central 1's Forge online banking system later this year. Coast Capital Savings is migrating its online banking platform later this summer. Canadian Western Bank and Motive Financial, I expect, will migrate from MemberDirect to Forge or another online banking platform next year to be followed, in turn, by each of Meridian/Motus and DUCA.

In short, there's going to be a lot of transitions over the next few years. It's going to be a dizzying clip! sf-cool

Cheers,
Doug

July 12, 2019
7:00 am
Peter
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As of right now AcceleRate appears to have forgotten to update the rate on their their savings account product page, although it has been updated on their rates page. Presumably this will be updated shortly, but hopefully nobody is misled by it!

July 12, 2019
7:47 am
GICinvestor
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How astute!!

They freshened up their web page months ago but I am guessing with the upcoming conversion, accuracy may have been overlooked?

I have never received as much info about a conversion. I think I have had 3 mailings, a book of explanation and suggested todos, a card number even though I do have an ATM card (who knows what one will work) and the third mailing was a one time use password.

July 16, 2019
10:30 am
Peter
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They hadn't updated that page this morning, but I sent them an e-mail and within 30 minutes it was updated.

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