New DUCA 6 Month GIC @ 5.15% (was 5.50%) | DUCA Credit Union | Discussion forum

Interesting. DUCA has resorted to short-term investments in the interim.

I'm not biting.

smayer97 said
In the interim of what?  

On what the BoC's next move is. Maybe it's their new direction IDK and they're new business model is short term investments. But, I'm sure they saw a lot of capital leave after June 30.

Lodown said
Can cash out early at 5%. Anyone have the terms and conditions for this?  

The OP received the e-mail but it's on the DUCA website for anyone to apply. They state you have to contact them for the terms & conditions. Meaning they want you to make the first move.

A note of caution from my experience. I decided to buy the 5.5% GIC special at Duca online last week. The online application offered a choice of 6 to under 12 months. It also mentioned if you wanted a 6 month cashable, you had to call in. Since I didn't need a cashable GIC, I decided to buy online and chose an 11 month term at 5.5%. All went well, I received a confirmation, renamed my GIC with the expiry date and printed the details. I bought several more over the week. Today I logged in after buying another 11 month GIC at the same rate, and notice my previous GIC had a change in the name from July to January. I opened the GIC to look at the details, and in fact it now expires in January. I double checked with my printout to make sure it was not my error. All my GICs were changed to 6 month terms and relabeled without my knowledge. I called in to Duca and the rep confirmed they were changed. Very sneaky Duca.

savemoresaveoften said

Even tho the system allows u to choose upto 11 mth when you purchase the new GIC, they just manually change it to 6 months only without letting u know ? Thats pretty bad !  

This is unbelievable - I do see the system does allow the 11 month period when you purchase self serve online. Something very odd with DUCA if they altered your dates on the GIC you purchased properly online.

Iminterested said
A note of caution from my experience. I decided to buy the 5.5% GIC special at Duca online last week. The online application offered a choice of 6 to under 12 months. It also mentioned if you wanted a 6 month cashable, you had to call in. Since I didn't need a cashable GIC, I decided to buy online and chose an 11 month term at 5.5%. All went well, I received a confirmation, renamed my GIC with the expiry date and printed the details. I bought several more over the week. Today I logged in after buying another 11 month GIC at the same rate, and notice my previous GIC had a change in the name from July to January. I opened the GIC to look at the details, and in fact it now expires in January. I double checked with my printout to make sure it was not my error. All my GICs were changed to 6 month terms and relabeled without my knowledge. I called in to Duca and the rep confirmed they were changed. Very sneaky Duca.  

That is illegal. I wonder what they would say if you call and insist they honor the 11 month GIC. If they refuse, how would they explain the unilateral change without informing you?

How do I join DUCA? Do I have to contact them on phone first? Because I just see an Application ID and Password.
So this means I cannot open an account directly online with DUCA?
Any idea what this Application ID means? I do not find any link anywhere else where I can create an Application ID first.

RetirEd said
The "ALREADY STARTED" banner makes me think that screen is not intended for cold-starting the process...  

Thanks RetirEd. Might be not worth to open an account for 0.5% extra. Let me see what offer Simplii comes up with starting Aug.
I prefer full online process.

Oscar said
zgic - Click the "join now" on top right of homepage https://www.duca.com/ then ignore right side of screen and scroll down for account bundles etc.  

Thank you Oscar. I guess that is not easily traceable.