DUCA 2% Promo (now 2.50% until December 31, 2022) | Page 3 | DUCA Credit Union | Discussion forum

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DUCA 2% Promo (now 2.50% until December 31, 2022)
April 6, 2022
6:49 am
savemoresaveoften
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Loonie said

This doesn't prove the point as you have described it.
We do understand that one can move money in and out as long as it was "new" money in the first place. I have done that myself.

The important question is, how much money did you have at DUCA before the promo began. Can you clarify?  

They are fairly lax as they don't really use a "screen shot" method like other FIs when it comes to "new money only" promo.

I was able to withdraw from the reg earn more account (0.4%) "after" this new 2% promo showed up, and then bring it back 2 weeks later. Called in and they have no issues putting it into the 2% account for me. Not sure if they tighten it since that. I think it should still be fine, especially now that rates are a lot higher (tang 2.8, simplii 2.7%, GIC rates much higher), so 2% is not a outright high rate, whether new money or not.

April 6, 2022
7:59 am
Loonie
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Sounds good. I will give it a try since Tang doesn't love me any more.

Who knows? They may even raise the rate again!

April 8, 2022
3:57 pm
Loonie
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I just spoke to a DUCA rep who advised me that the rate on this promo will increase to 2.5% on April 12 and will be valid until Dec 31/22.sf-smile

April 8, 2022
4:07 pm
savemoresaveoften
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Loonie said
I just spoke to a DUCA rep who advised me that the rate on this promo will increase to 2.5% on April 12 and will be valid until Dec 31/22.  

Current plus new money ?

April 8, 2022
4:11 pm
Loonie
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No changes in T&C, so it will apply the same way as before, just like the previous rate increase from 1.5 to 2.0
In other words, you don't have to put in new money on April 12, if that's what you were asking.
It will apply to whatever money is in your Park account.

April 8, 2022
4:13 pm
whynot
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We were advised by staff when we opened the HISA that the 2% promotion would have the new rates applied, should there be any increases for the duration of the term. There was no mention if this would apply if the length of time was extended for the promotion.

April 12, 2022
5:37 am
Berry
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Good news for those currently in our Earn More Savings Promotion account and good news for those who would like to be. To help you earn even more throughout 2022, once again we're increasing the interest rate for this account to 2.50%, effective today, April 12, 2022, plus we are extending the offer through December 31, 2022.

http://elink.duca.com/m/1/4598.....9290ab789f

April 12, 2022
5:42 am
savemoresaveoften
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applies to both existing and new deposit. If only it can be unlimited protection and not just a mere $250k....

April 12, 2022
6:38 am
GR
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Can the heading on this thread be updated to indicate the new rate of 2.50% until December 31, 2022?

May 24, 2022
10:00 am
annamet
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I'm not sure I understand what happens to this promotional account on Dec. 31st. The marketing material says:
"When the promotional period ends as of December 31, 2022, funds will automatically roll over into our standard Earn More Savings Account".

Am I going to end up with two accounts on Jan.1st? The promotional 2.0% and this standard Earn More Savings'?

May 24, 2022
12:45 pm
Nehpets
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annamet said ........Am I going to end up with two accounts on Jan.1st? The promotional 2.0% and this standard Earn More Savings'?  

The way DUCA works when they have promo HISA's is the promo account that pays the promo interest is called a PARK account, which requires a CSR to manually transfer any incoming funds into it.

At the end of the promo period, the PARK account closes and the money in transferred into the regular, basic so called "Earn More Svgs Acct.

The PARK account will disappear from your profile and if / when another promo comes along, another PARK account will be created for that purpose.

Stephen

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