New promo: 3 percent on new money until Jan 31, 2020 | DUCA Credit Union | Discussion forum

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New promo: 3 percent on new money until Jan 31, 2020
March 18, 2019
4:24 am
Pennywise
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Got this today. It looks very good; deal not targeted and is open to existing customers and new customers to DUCA Credit Union.

March 18, 2019
5:37 am
JPenterprise
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Called 1.866.900.3822 this morning and was told they re-opened my existing "Earn More Park A/C", will earn 3% until Jan. 31, 2020.

Note: This offer is for deposits new to DUCA from a new or existing Member and is not available for online or mobile app transfers from a current DUCA account. Money already on deposit at DUCA in the form of a term deposit, savings account, or other investment is not an eligible deposit.

March 18, 2019
7:08 am
Nehpets
Ontario
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Quoted from DUCA email March 18, 2019:

... Earn More Savings Promotion offer is back … only this time, you have an extended opportunity to earn even more for longer! From now through January 31, 2020, give your savings a serious boost with new to DUCA deposits into an Earn More Savings Promotion Account* at 3.00%! This offer is available only in a DUCA branch or by calling Member Connect at 1.866.900.3822.

Act fast, earn more! This interest rate expires after January 31, 2020* so the sooner you take advantage, the more interest you can earn.

DUCA’s highest posted savings rate
No locked in terms
No minimum deposit
No minimum balance
Daily interest paid monthly
After January 31, 2020, funds in the Promotion account will be transferred into a regular Earn More Savings Account. (Current interest rate: 1.60%) Statements will reflect this activity.
This offer is for deposits new to DUCA from a new or existing Member and is not available for online or mobile app transfers from a current DUCA account. Money already on deposit at DUCA in the form of a term deposit, savings account, or other investment is not an eligible deposit.

Same arrangement as in the past, where a call to the CSR or visit to a branch is required to transfer funds into the Earn More Account.

For those who have taken advantage of the promo GIC's DUCA was offering following the last Earn More promo in the Fall of 2018, if DICO limits are a concern, total deposits for each account may be an issue.

Stephen

March 18, 2019
7:27 am
frizun
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I was starting to worry this promo wasn't gonna happen again this year.
But here we are...nice long duration too...could come in handy.
I like these guys...they do it right...thumbs up DUCA

March 18, 2019
11:49 am
Nehpets
Ontario
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frizun said
........I like these guys...they do it right...thumbs up DUCA  

Agreed, DUCA is indeed a class act. Different from Hubert in some ways, but they seem to operate with the same dedication and commitment to customer service and satisfaction.

Do you think DUCA's 3% svgs acct promo 'til Jan 2020 might be a pre-emptive strategical foray in anticipation of Meridian's upcoming campaign to introduce motusbank ?

Stephen

March 18, 2019
2:28 pm
JenE
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I spoke with a Duca csr today, very informative, but she did add that the January 31, 2020, term is NOT guaranteed.

March 18, 2019
2:47 pm
rhvic
Victoria, BC
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Alas, Ontario residents only.

"Unfortunately, due to our credit union’s bylaws, we are not able to do business with anyone who is not a resident of Ontario and cannot open a membership in that situation. Sorry about that."

March 18, 2019
3:16 pm
Oscar
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October 17, 2018
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Simplii Financial should start taking notes , they might learn a thing or two about how to run a promotion. No , probably not , never mindsf-wink

March 18, 2019
4:55 pm
Nehpets
Ontario
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According to the Member Connect CSR I spoke with this evening, current deposits made AFTER March 11 can be transferred to the 3% Park Promo account.

This can be significant for someone who just recently deposited some funds into their DUCA account....the promo is for new money, but new money deposited after March 11 still qualifies.

Stephen

March 18, 2019
5:00 pm
Loonie
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JenE said
I spoke with a Duca csr today, very informative, but she did add that the January 31, 2020, term is NOT guaranteed.  

It's in their T&C:

"Rate subject to change. Offer may be withdrawn before January 31, 2020. "

They are probably just covering themselves in case the offer becomes unsustainable due to economic changes or too many deposits.

March 18, 2019
5:09 pm
Loonie
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Nehpets said
According to the Member Connect CSR I spoke with this evening, current deposits made AFTER March 11 can be transferred to the 3% Park Promo account.

This can be significant for someone who just recently deposited some funds into their DUCA account....the promo is for new money, but new money deposited after March 11 still qualifies.

Stephen  

Hmm... I transferred money OUT of there on March 13. I wonder if that is going to count against me now.
There is no cut-off date mentioned on their website as far as I can see, but I'm pretty sure the new offer only went up today, March 18.

March 18, 2019
6:35 pm
HISAhopper
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March 8, 2018
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Hum, I closed all DUCA accounts last June after the promo, have to go to branch to open them tomorrow and give them a cheque.
Nice work from Duca just in time my Tangerine 3.15% ended today (no need to call and whine with Tang).

March 18, 2019
8:47 pm
Jon
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DUCA indeed have excellent service. I have recently move and my T5 still have my old address as a result. When I call to confirm with them about the accuracy of the information they have. They reassure me that all is good as I move after the new year and CRA want my old address as a result. In order to reassure me that they have my new address, they actually sent me a copy of T5 to my new address afterward despite I have only opt for online T5 without me even asking for it.sf-surprisedsf-smile

March 19, 2019
6:58 am
GR
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Loonie said

It's in their T&C:

"Rate subject to change. Offer may be withdrawn before January 31, 2020. "

They are probably just covering themselves in case the offer becomes unsustainable due to economic changes or too many deposits.  

In reply to my written request to Duca for clarification about the duration of the 3% promo rate, I was informed that standard legal procedure is to state that rates are subject to change "in the event of a major, unforeseen event". They expect to hold the rate of 3% until January 31, 2020, "unless there is a catastrophe".

March 20, 2019
8:49 am
HISAhopper
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Just curious if Duca accounts still bear the same numbers as before which are:

Earn more saving: memebership # + 6001
Earn more park: memebership # + 9001

March 20, 2019
10:32 am
fabafter50
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Opened an account with them yesterday. So easy online. Being a new client, I had to call them, while doing the transfer of funds for the 3% promotion, and the CR put the incoming money into the Even More Park Account. She told me if I was bringing any more money in at a later date, that I had to call so the money would be placed in that account. Doesn't look like you can transfer it directly to the 3% offer account.
They are lovely to deal with and quick.

March 20, 2019
12:29 pm
Nehpets
Ontario
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fabafter50 said
... Doesn't look like you can transfer it directly to the 3% offer account....  

That has been their practice, so every time you move money into DUCA, it goes into your regular svgs acct....you need to call or write to Member Connect (email) or visit a branch to advise them to transfer the funds into your Park account.

Their customer service is excellent based on my experience of the past year.

Keep in mind DUCA's limits:
Incoming maximum EFT:
$100,000.00 per transaction
$200,000.00 per day

Outgoing maximum EFT:
$50,000.00 per day
$250,000.00 per week
$500,000.00 per month

mobile cheque deposit has a deposit limit of $10,000

An option is to open a no-fee checking account (see "Retirement Banking Bundle" for seniors, if applicable) and write a check to withdraw funds if and when required.

Stephen

March 20, 2019
12:47 pm
Loonie
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There is no deposit limit if you go to branch in person with cheque in hand.

March 22, 2019
10:08 am
dancerneverstop
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March 22, 2019
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I got this 3% rate on new deposit from Duca CU as well - very easy and straightforward. Just dropped by, told them what I want, handed over the check and then finished. It took me less than 10 mins. Strongly recommended.

March 24, 2019
3:56 pm
Lodown
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I am in Ottawa - no local DUCA here. I have online accounts at Tang and others. What is the best way to open a DUCA account and then transfer funds to get this promo?

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