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Achieva Interest Rates Update
January 15, 2018
7:15 am
gicjunkie
Ontario
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Achieva GIC Rates Up as follows:

1 Year Term 2.40%
2 Year Term 2.60%
3 Year Term 2.75%
4 Year Term 2.90%
5 Year Term 3.10%

January 15, 2018
7:46 am
fabafter50
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Wow, good rate on the 5 year GIC!

January 15, 2018
7:51 am
gicjunkie
Ontario
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No doubt other institutions will follow after the impending (hopefully) BoC rate hike this week.

January 15, 2018
11:24 am
Bill
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Got a small 1-year gic from Achieva last Thursday, called them today to see if they'd give me the new rates, was told that if rates went down they wouldn't adjust me down so why would they adjust me up now, I agreed. Boy, the Big 5 banks could learn something about heartlessness, etc from these small, community-oriented CU's, couldn't they?!

January 15, 2018
12:02 pm
Top It Up
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Bill, if you ever want to know where Achieva employees "get it from" - just walk into anyone of their parent company's storefronts!

January 15, 2018
1:00 pm
Loonie
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A year or two ago, I was renewing a GIC at Hubert. I missed the better rate by one day,and I was peeved.

However, it never occurred to me that Hubert owed it to me to give me the new rate or any special treatment, and I didn't ask for it. I made a deal. They kept their part and I kept mine.

Their obligation is to treat all members equally. End of story.

January 15, 2018
1:11 pm
phrank
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It doesn't hurt to ask but a contract is a contract unless you're wealthy enough to make your own rules and have no problems with being unreliable.

Even with the lower rate from last week, I'm sure you're far ahead of any rate offered from a big hearted bank.

January 15, 2018
3:56 pm
Bill
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As I said, I agreed with them, a contract is a contract, but after reading over the last while from some folks on here about how community-minded, fair, ethical, not-profits-at-all-costs, etc CU's are compared to the big bad banks I'd thought I'd call and give them an opportunity to prove that hypothesis.

Based on my $5k gic the .15% increase means I'll be out about $4 or so after tax so hopefully I can make that up this year somewhere else in my portfolio.

January 15, 2018
7:13 pm
Loonie
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As Bill recently said elsewhere, we tend to have varying opinions on what is ethical.

I am surprised though that Bill is buying a GIC from a CU. Perhaps I misremember, but my recollection is that he told us within the last couple of months or so that he didn't deal with them as a matter of (unspecified) "principle".

January 16, 2018
6:00 am
Bill
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Your memory serves you well, Loonie, but on further consideration I have changed my views and have decided to allocate a small portion of my funds to join the rest of the lefty virtue-signallers that seem to think CU membership is a prominent display of their personal ethical superiority - wanna see how it feels, and so far it feels goo-oood!

January 16, 2018
11:42 am
Doug
British Columbia, Canada
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Bill said
... lefty virtue-signallers that seem to think CU membership is a prominent display of their personal ethical superiority - wanna see how it feels, and so far it feels goo-oood!  

LOL! Sorry, couldn't resist posting this extraneous comment because, had I had food in my mouth, it would've ended up on my computer's monitor! Thanks Bill. I needed that laugh (re: "lefty virtue-signallers" CU comparison). 😉

Cheers,
Doug

January 16, 2018
11:44 am
Doug
British Columbia, Canada
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Loonie said
A year or two ago, I was renewing a GIC at Hubert. I missed the better rate by one day,and I was peeved.

However, it never occurred to me that Hubert owed it to me to give me the new rate or any special treatment, and I didn't ask for it. I made a deal. They kept their part and I kept mine.

Their obligation is to treat all members equally. End of story.  

Good points, Loonie. While we might get peeved off, the fact is, they acted fairly. Going back on something or being involved in "bait-and-switch" tactics is another matter (*cough* Tangerine Money-Back Credit Card 2%/1% rewards value ratio then shortly thereafter changing to a totally uncompetitive 2%/0.5% one *cough*). Thanks for recognizing that. I like that. 🙂

Cheers,
Doug

January 16, 2018
11:56 am
moneyhelp
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Doug said

Going back on something or being involved in "bait-and-switch" tactics is another matter (*cough* Tangerine Money-Back Credit Card 2%/1% rewards value ratio then shortly thereafter changing to a totally uncompetitive 2%/0.5% one *cough*).

Cheers,
Doug  

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