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The 5% GIC Rate is Back...
September 9, 2008
12:57 pm
CM
Guest
Guests

I was just looking to shop out a renewing RSP deposit coming due at a bank and looked at Achieva where I opened an account just over a year ago and have been moving my longer term savings. They have traditionally had some of the best rates available with a full deposit guarantee and have seen they recently increased their GIC rates well above other banks and online providers ---- current posted rates 4.5% on 3 years & 5% on 5 years. http://www.achieva.mb.ca/produ...../index.asp

Just when I thought we would never see the 5% rate again...

September 9, 2008
8:13 pm
MJ
Guest
Guests

This is a Great Rate --- just opened my account online and will be sending in my money.

Thanks for the tip. I was also impressed to find out Achieva has also been around now for 10 yrs.

MJ

September 12, 2008
9:28 am
CM
Guest
Guests

Actually I just received communications from Achieva regarding their 10th Anniversary. You can also see their "rate history" for their savings account online since their opening. Given they are a virtual institution, 10 years does build upon the reliability you can expect.

All I know is their GIC rates are exceptional, with the savings rate being more mid-tier when compared to Citizens, HSBC, ING.

September 22, 2008
4:08 pm
sheila woodward
Guest
Guests

I don't think Achieva is insured by the CDIC, is that correct?

September 22, 2008
10:28 pm
Doug
British Columbia, Canada
Member
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Forum Posts: 3071
Member Since:
December 12, 2009
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Achieva Financial is an operating division of Cambrian Credit Union. As such, you're a member of Cambrian Credit Union when you join Achieva Financial, regardless of what province you live in. Achieva pays your membership equity share requirement and sells that share back to Cambrian when you close your accounts. So, your deposits are fully insured by the provincial Credit Union Deposit Guarantee Corporation of Manitoba, which has no insured limits or limitations on province of residence. They're able to do this because they have a lot, lot less deposits to insure than CDIC federally or CUDIC in British Columbia even. 🙂

Cheers,
Doug

October 12, 2008
1:37 pm
DDM
Guest
Guests

I just shopped out another renewing GIC I have in my retirement account at the Royal, where they do have a decent GIC speacial for 4.3% however, when I asked for them to match the 5% offer at Achieva, they wouldn't, however, they did try to have me consider one of their mutual funds???? Hello, anyone watching the market these days?

Anyways, I moved more money to my Achieva account and I have to say that over the past several years since first opening a simple high daily savings account with them, they have always had one of the best rates available for my renewing GICs at other institutions.

Best of all, they are fully guaranteed and I don't have to go through the "rate negotiation dance"!

March 27, 2009
7:59 pm
laura
Guest
Guests

I found this blog while googling for GIC 5% and checked out the Achieva link but the 5 yr rate is now down to 3.50%.

Anyone know where I can get a good GIC rate these days?

Thanks!
Laura

March 30, 2009
10:02 am
Choppy McSlice
Guest
Guests

This thread should just be deleted now; the title of the original post is outdated and misleading.

March 30, 2009
11:42 pm
Peter
Admin
Forum Posts: 1084
Member Since:
May 15, 2007
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Choppy McSlice said:

This thread should just be deleted now; the title of the original post is outdated and misleading.


Because all posts are dated, I would prefer to keep the thread as a sort of archive. I will, however, lock this thread so that new discussion can continue elsewhere 🙂

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