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Praise For DUCA
December 11, 2018
10:51 am
Nehpets
Ontario
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Following my irritating experience with a distasteful Tangerine, my faith in dealing with a FI with ethics and professionalism was restored when I reconnected with DUCA regarding funds I had previously withdrawn at the end of their recent 3.25% svgs promo.

I called the Customer Connect line and explained I had funds available for term deposit that I had withdrawn, looking for another deposit opportunity and heard (on the Forum) that DUCA had some undisclosed, attractive offers.

Yes, they have, and the offer is determined on a case by case submission to the Finance Department.

The CSR confirmed the amount I had available, told me he would call back at noon the next day. The phone rang at 12:05 the today with an offer for a three year GIC at 3.30% cashable at three month intervals.

It was a deal I could not refuse, and the entire transaction took minutes to complete with a written confirmation.

No fuss, no muss!sf-laugh

Stephen

December 11, 2018
11:22 am
Kidd
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Steve..... i think you're comparing apples to oranges here, with tangerine being the orange.

At tangerine you were looking at their high interest savings account and you managed to get tangled up in their idiotic hisa game. Tangerine would have, without question paid you 3.3% on a 3 year gic. They gave me 3.25% on a one year gic.

I am in no way, amused by tangerines stupid games (and i am very easily amused). As Bill mentioned, tangerine do "flag" certain clients. I know for a fact that there are notations in my personal file because i have spoken at great length with individuals there.

December 11, 2018
11:25 am
Kidd
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December 11, 2018
11:42 am
Loonie
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Good to kno DUCA has followed through with you, Stephen.
I am still waiting for a call/offer that was promised a week ago Monday from them, which I was supposed to receive a week ago Tuesday. Financially, it would be worth their while to make me the same offer they made you.
It seems the high level customer service you received is selective. I have done nothing to offend them except remove 80% of my deposit. Was still hoping for an offer for the other 20%, so have not moved it yet. 40% has a new GIC home already. 60% could be up for grabs.

December 11, 2018
12:44 pm
Nehpets
Ontario
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Kidd said
Steve..... i think you're comparing apples to oranges here 

My intention was not to compare products, but rather the demeanor and attitude of the respective (or disrespective) financial institutions.

I have a similar distaste for EQ Bank, which seems to employ Tangerine dropouts...or vica versa.

Like most of us here, I deal with FI's across the Country and pretty well understand how business should be conducted, in an attentive, respectful and honest manner.

Employees generally reflect their corporate attitudes, which I think says it all when speaking of the FI's we're talking about.

December 11, 2018
1:17 pm
Top It Up
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After reading numerous tales of woe by the rate chasers and the credit card churners both here and on RFD - many of them seemingly self-inflicted - can't say I'm surprised by the client/institution conflicts.

December 11, 2018
2:43 pm
AlainJF
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Loonie said
Good to kno DUCA has followed through with you, Stephen.
I am still waiting for a call/offer that was promised a week ago Monday from them, which I was supposed to receive a week ago Tuesday. Financially, it would be worth their while to make me the same offer they made you.
It seems the high level customer service you received is selective. I have done nothing to offend them except remove 80% of my deposit. Was still hoping for an offer for the other 20%, so have not moved it yet. 40% has a new GIC home already. 60% could be up for grabs.  

Well, hopefully, it is not another "No soup for you" culture being slowly established over there...

Nehpets got the super "soup", in my perspective. Good for you ! Enjoy !

December 12, 2018
1:54 pm
savemoresaveoften
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It definitely appears the amount to be deposit/staying has some influence on the rates being offered. This is consistent with what other banks and CUs are doing.
As others already reported, when they call, they will ask how much to "reinvest" and then call their finance dept for "best possible rate". The person on the phone is essentially a messenger, but very responsive and true to their words in terms of call back time, etc.
So far they are up there among the top in my list when it comes to CU, Meridian not too shabby either.

December 14, 2018
1:38 pm
GR
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For the promo cashable 3 year GIC, the rep advised me that, by default, interest is added annually to the principal and compounded and not paid out until maturity or redemption. If you want annual interest to be paid to one your DUCA savings accounts, possibly to be withdrawn, you apparently need to ask for this exception.

May 13, 2019
6:48 pm
Bud
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Duca has best dividend without having to acquire shares

May 13, 2019
7:11 pm
Doug
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hotmony said
Duca has best dividend without having to acquire shares  

They may do their distributions as "patronage allocations," which are based, usually, on several parts (one's deposit balances, one's mortgage and loan balances, and/or on one's member share account balance).

Cheers,
Doug

May 13, 2019
9:16 pm
Loonie
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May 14, 2019
8:45 am
Bud
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The best "free" cash dividends

June 12, 2019
3:26 pm
Nehpets
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Can't resist recognizing good service when I get it!

Initiated an EFT push transfer from DUCA this morning at 9:30 am to two separate "big six" bank accounts, and the funds were in the receiving accounts when I checked at 5 pm....same day.

Compared to stories posted on the Forum about other FI's and slow EFT's, my experience with DUCA has been consistently excellent.

Stephen

December 18, 2019
11:31 am
LeBronBMT
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Nehpets said

Yes, they have, and the offer is determined on a case by case submission to the Finance Department.

The CSR confirmed the amount I had available, told me he would call back at noon the next day. The phone rang at 12:05 the today with an offer for a three year GIC at 3.30% cashable at three month intervals.

It was a deal I could not refuse, and the entire transaction took minutes to complete with a written confirmation.

No fuss, no muss!sf-laugh

Stephen  

How much did you deposit to qualify for their special rate?

December 18, 2019
12:15 pm
COIN
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LeBronBMT said

How much did you deposit to qualify for their special rate?  

Is DUCA also offering 3.30% in December 2019 for a 3 year GIC?

December 18, 2019
1:01 pm
Saver-Mom
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Stephen’s post was from 2018

DUCA’s 5 yr rate is now 2.6%

3 year is 2.2%

December 18, 2019
5:06 pm
Loonie
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DUCA has had a 3% savings account in place for many months now for those who signed up initially. It expires end of January.
They will likely make a GIC offer in January in order to retain some of that money, which may or may not be available only to those who had the 3% offer.
My guess is that that offer will not exceed 3% for any term, and could be less.

December 19, 2019
5:20 pm
COIN
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Loonie said
DUCA has had a 3% savings account in place for many months now for those who signed up initially. It expires end of January.
They will likely make a GIC offer in January in order to retain some of that money, which may or may not be available only to those who had the 3% offer.
My guess is that that offer will not exceed 3% for any term, and could be less.  

Unfortunately, that 3% offer was shut down very quickly, unless you had already signed up, and capped at $100,000. They are now offering 2.3%.

December 19, 2019
7:07 pm
Loonie
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COIN said

Unfortunately, that 3% offer was shut down very quickly, unless you had already signed up, and capped at $100,000. They are now offering 2.3%.  

They did cap it at 100K after about 3 weeks due to overwhelming response, but new people could still sign up.
I don't remember when they stopped offering the deal, but it was certainly long enough that you could sign up if you were interested. You didn't have to put money in it immediately.

They have continued to honour the 3% offer since March, which is a very good deal. They could have lowered it, as it was not an airtight offer, but they haven't. They also give a small profit-sharing bonus at the end of the year.

They get top marks for all of this in my books.

However, I'm nervous about their current efforts to go federal, and wish they weren't doing it. We will likely lose our 250K insurance coverage, which I value.

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