Winter Promo HISA 2.30% on New Deposits in Non-Registered Accounts Until March 31/20 | DUCA Credit Union | Discussion forum

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Winter Promo HISA 2.30% on New Deposits in Non-Registered Accounts Until March 31/20
November 12, 2019
7:45 pm
Forum Posts: 199
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

This winter promo rate of 2.30% interest is not very interesting!

Earn More This Winter
Earn 2.30%* 'til March 31
DUCA has launched an Earn More Savings Account (EMSA) Winter Promotion for new deposits to DUCA!
Earn 2.30%*
No locked in terms
For non-registered accounts (cash) only
No minimum deposit or balance
Daily interest paid monthly
After March 31, 2020, funds will be transferred into a regular Earn More Savings Account. (Current rate: 1.40%.) Statements will reflect this activity.
Offer available for new or existing Members
Not available for online or mobile app transfers from a current DUCA account
>> Visit a branch or call 1.866.900.3822 to take advantage of this offer.

November 13, 2019
8:03 am
Forum Posts: 563
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

If I understand the terms of this promo, the funds earning the 2.3% are in a special Earn More account as opposed to the Park Account that currently pays 3% until January that correct?

I suppose if someone was firmly opposed to dealing with Motive that pays 2.8% to CDIC limits, then this DUCA promo that pays 2.3% up to $250,000 DICO limit might be an option, along with the other FI's offering 2.3% like Oaken, Accelerate, Wealth One, EQ.

Don't know much about Outlook at 2.4% or Steinbach at 2.5%, but have to admit DUCA customer service is top notch.


November 14, 2019
3:43 am
Forum Posts: 5563
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

I think you've got it right, Stephen.
Quite a depressing rate, really. It's only impressive when compared to their regular rate of 1.4, which none of us would touch anyway.

It doesn't make me optimistic about what they will offer when the 3% promo ends.

They keep telling us the economy is chugging along reasonably well in most of the country, but it's not doing much for savers and retirees who need reliable no-risk income. sources.

I think I'm going to take another look at annuities, crazy as that may sound, because it's getting hard to believe rates will improve in my lifetime. Perhaps the tax savings on non-registered ones will justify them by boosting effective income. We aren't concerned about leaving an inheritance.

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