achieva drops interest rate 1.80% | Achieva Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
achieva drops interest rate 1.80%
March 1, 2013
11:48 am
doc
Member
Members
Forum Posts: 84
Member Since:
December 29, 2009
sp_UserOfflineSmall Offline

achieva financial drops interest rate to 1.80% from 2%. where do u go from here?

March 2, 2013
9:39 am
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3577
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

People will move money out of Achieva. I predict Implicity, Maxa and Outlook will be the primary beneficiaries as they offer higher rates and a superior, not an in-house, banking platform in MemberDirect. Achieva's platform reminds me sort of like Hubert's or AcceleRate's, sort of "hacked together" or "cobbled together" quickly. :)

Cheers,
Doug

March 2, 2013
1:23 pm
maxi
Member
Members
Forum Posts: 19
Member Since:
March 2, 2013
sp_UserOfflineSmall Offline

I think this may be a bit harsh. I've had my account with Achieva for a number of years and have had no issues to speak of regarding their online banking. It functions very well, allowing me to set-up new savings accounts and transferring funds to and from my TD account. RBC is shutting Ally's door, ING has a 1.35% rate and is now a division of Scotia Bank and most other competitors have rates well below 2% --- in fact, my PC account has just pulled back its bonus rate. Look, I wish my savings paid me 5%, the reality is that is not our environment. I just spent 30 minutes looking at my Achieva monthly statements and they had offered their 2% rate for more than 2 years before the drop to 1.8%. Not many banks can say that.

March 2, 2013
4:09 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3577
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

I'm just saying, what makes Achieva compelling anymore? They don't offer a superior online banking platform in MemberDirect, don't have the highest rates compared to their competitors (many others are Manitoba-based CUs), have more fees (only 1 free debit transaction permitted) than their competitors and don't offer an entirely paperless external bank account verification system.

If Implicity and Hubert both offer all of the above, with no fees (or minimal fees), what is the value proposition in Achieva? I don't see it.

Cheers,
Doug

March 2, 2013
5:29 pm
maxi
Member
Members
Forum Posts: 19
Member Since:
March 2, 2013
sp_UserOfflineSmall Offline

Well...we'll simply agree to disagree. I'm compelled by them being in business for 15 years, when ING, Citizens Bank & Ally have all come and gone. As for fees, I'm not sure of the point? I don't use them for daily transactions, all deposits are free and I make one to two transfer-outs to my TD account a few times a year without any costs. As for paperless, Achieva gives me $1 every month for taking my statement online. I don't know of any other bank that offers this feature?

Please write your comments in the forum.