Wow, Duca new 6% HISA rate | Page 4 | DUCA Credit Union | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Wow, Duca new 6% HISA rate
March 27, 2024
7:22 am
mustang
Member
Members
Forum Posts: 248
Member Since:
January 7, 2020
sp_UserOfflineSmall Offline

Yes, same here
I actually was able to transfer funds in yesterday from externally linked bank-- but that option gone this morning
I just sent them an email, asking if one can transfer into checking, then phone and have them transfer into spring promo account
Hopefully, they will respond
they used to be really good about answering such queries, but lately, seems like they don't get back at all

March 27, 2024
8:15 am
cgouimet
Member
Members
Forum Posts: 1543
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

Email 03/27 @ 9:32, in part ...

"We wanted to provide you with an important update regarding our 2024 Spring Earn More Promo at 6.00%. Due to its overwhelming popularity, we will be closing this promotion to new deposits effective March 27, 2024. Thank you to those Members who took early advantage of this great offer while they had the chance."

CGO
March 27, 2024
8:15 am
beenba
Member
Members
Forum Posts: 3
Member Since:
November 20, 2020
sp_UserOfflineSmall Offline

Opened this 6% account last week. Just did a me-to-me transfer pulling $ into DUCA. Called my local branch and was told they are not accepting any transfers into the promo account anymore. They are not able to cancel the me-to-me I did 5 minutes earlier.....this is my last straw with duca.

March 27, 2024
9:32 am
MarkFog
Toronto
Member
Members
Forum Posts: 82
Member Since:
April 1, 2016
sp_UserOfflineSmall Offline

beenba said
Opened this 6% account last week. Just did a me-to-me transfer pulling $ into DUCA. Called my local branch and was told they are not accepting any transfers into the promo account anymore. They are not able to cancel the me-to-me I did 5 minutes earlier.....this is my last straw with duca.  

I know, their tactics of announcing the day AFTER they cancel the promotion pisses many off. Makes it not worth dealing with them even if their rate is good. It's horrible.

March 27, 2024
11:04 am
golftime
Newbie
Members
Forum Posts: 2
Member Since:
January 29, 2015
sp_UserOfflineSmall Offline

SCAMMERS Fool me once shame on you, fool me twice shame on me
Got caught in interest drop previously
I already had accounts at Duca, so easily set up the 2024 Spring Promotion account and was able to transfer money in directly.
Transferred money from Tangerine to Simply to and to Duca on March 26. Had to use savings account because there was no option to deposit it into Spring Promotion account which I had used previously. Thought that would be the best option since phone calls usually take at least 45 minutes for a response.
Found out through email today that promotion is over as of today the 27th and after my subsequent phone call today they would not honour the promotion, or release the money from the 10 day hold so I could transfer it back. Insult to injury they get to keep my money to make interest for those ten days.
It is time to close up all my accounts at Duca Good bye foreversf-frown

March 27, 2024
12:06 pm
MattS
Member
Members
Forum Posts: 152
Member Since:
January 11, 2020
sp_UserOfflineSmall Offline

Been out of country
Tried to call when on vacation and they failed to call back. Called now and it’s closed. Count me In for cleaning out funds from previous earn more promo. Also they have reduced the daily xfer limit to 20k now down from 25k.

I hated the fact I always had to maintain and set up new promo accts and when I did the old ones sit dormant so you have like 5 accounts. This is the kick in the pants I needed to go elsewhere. Good bye

March 27, 2024
12:11 pm
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

kesa said
I can already hear the belly aching  

I knew not to bother with Duca games

March 27, 2024
1:47 pm
savemoresaveoften
Member
Members
Forum Posts: 2992
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

A wise man once said, top tier people works at big5. Second tier works smaller banks.
Third tier at credit unions…
Judging from how poorly Duca executes its promo rate plan, that seems to confirm the above statement.
I did find credit union in general off much better customer service, just not the smartest people running the show at the top….

March 27, 2024
1:52 pm
phrank
Member
Members
Forum Posts: 319
Member Since:
January 3, 2009
sp_UserOfflineSmall Offline

savemoresaveoften said
A wise man once said, top tier people works at big5. Second tier works smaller banks.
Third tier at credit unions…
Judging from how poorly Duca executes its promo rate plan, that seems to confirm the above statement.
I did find credit union in general off much better customer service, just not the smartest people running the show at the top….  

IMO, this concept is related to how much profit they can generate and nothing more.

March 27, 2024
5:31 pm
MarkFog
Toronto
Member
Members
Forum Posts: 82
Member Since:
April 1, 2016
sp_UserOfflineSmall Offline

golftime said
SCAMMERS Fool me once shame on you, fool me twice shame on me
Got caught in interest drop previously
I already had accounts at Duca, so easily set up the 2024 Spring Promotion account and was able to transfer money in directly.
Transferred money from Tangerine to Simply to and to Duca on March 26. Had to use savings account because there was no option to deposit it into Spring Promotion account which I had used previously. Thought that would be the best option since phone calls usually take at least 45 minutes for a response.
Found out through email today that promotion is over as of today the 27th and after my subsequent phone call today they would not honour the promotion, or release the money from the 10 day hold so I could transfer it back. Insult to injury they get to keep my money to make interest for those ten days.
It is time to close up all my accounts at Duca Good bye foreversf-frown  

The guys are watching our patterns and our links. They are playing games. I find Tangerine played me recently knowing somehow my promotion was up and DUCA closed its doors on the same day. They know the links. There are no coincidences in the financial sector. You got to change things up and stay ahead of them. I had no choice but to take the 5.75% 4 month CIBC promotion. It's more of a pain to transfer into but Tangerine is not going to benefit from me taking a 3.75% offer, which is below what others are getting. I don't forget easily.

March 27, 2024
7:07 pm
InterestThis
Member
Members
Forum Posts: 378
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

Wow DUCA Credit Union is one crazy credit union.
To pull the rate rug out on people who are in the middle of making a large financial transfer, and then to hold that money hostage for 10 days and pocket the interest the customer could have earned somewhere else.
It's like some kind of Las Vegas racket from the 1970's.
And to lower interest rates inside promo's, such pathetic and greedy behavior.
DUCA CEO Doug Conick should be ashamed of what is going on there.

March 27, 2024
10:38 pm
mebe
Member
Members
Forum Posts: 25
Member Since:
May 21, 2021
sp_UserOfflineSmall Offline

Duca defines the word Promo as: Pull Rug Out More Often.

It's the same old story ... Duca does something sneaky or stupid, and then after Member Connect agents fail to do the right thing (until management tells them that they can), customers complain to branch managers to fix problem. Upper management then sends out apologetic email that promises to fix any bad faith errors (like moving money being held into 6% account because it's way that Duca always allows).

Okay Duca, Im ready for your next magic carpet ride that will give me rug burn and a bad rash.

March 27, 2024
11:21 pm
Lodown
Member
Members
Forum Posts: 249
Member Since:
January 10, 2017
sp_UserOfflineSmall Offline

For those who got in before the abrupt cutoff on March 27th, it appears you will not be able to add any additional funds to the account.

Given that Duca is the 'Duke of Scam', everyone holding firm with this account needs to do a daily check, as the D of S will, as usual, drop the rate without advance notice.

March 28, 2024
1:21 am
cgouimet
Member
Members
Forum Posts: 1543
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

mebe said
Duca defines the word Promo as: Pull Rug Out More Often.

It's the same old story ... Duca does something sneaky or stupid, and then after Member Connect agents fail to do the right thing (until management tells them that they can), customers complain to branch managers to fix problem. Upper management then sends out apologetic email that promises to fix any bad faith errors (like moving money being held into 6% account because it's way that Duca always allows).

Okay Duca, Im ready for your next magic carpet ride that will give me rug burn and a bad rash.  

Per my earlier post on Mar 15, I suspected they'd do this again. In fact, they nearly confirmed then they'd be be doing it again. So, I chose to not bother with their "offer" ...

CGO
March 28, 2024
5:24 am
MarkFog
Toronto
Member
Members
Forum Posts: 82
Member Since:
April 1, 2016
sp_UserOfflineSmall Offline

Lodown said
For those who got in before the abrupt cutoff on March 27th, it appears you will not be able to add any additional funds to the account.

Given that Duca is the 'Duke of Scam', everyone holding firm with this account needs to do a daily check, as the D of S will, as usual, drop the rate without advance notice.  

Yes, very good point. We'll have to watch them. They showed us that can do it back in January. Drop the end date and then drop the rate, but making it seem indefinite. Meanwhile dropping the rate every 2 weeks.

March 28, 2024
5:35 am
MarkFog
Toronto
Member
Members
Forum Posts: 82
Member Since:
April 1, 2016
sp_UserOfflineSmall Offline

cgouimet said

Per my earlier post on Mar 15, I suspected they'd do this again. In fact, they nearly confirmed then they'd be be doing it again. So, I chose to not bother with their "offer" ...  

Yes, on March 15 when I saw the abrupt end of the 2023-2024, I felt it was to screw those that had to pull out their money and bring it back. There would be a standard 10 day hold and a 100K cap on transfers. Plus no movement on weekends. Then the holiday weekend has 4 days. They are not dumb, they are strategic scammers.

March 28, 2024
5:50 am
MattS
Member
Members
Forum Posts: 152
Member Since:
January 11, 2020
sp_UserOfflineSmall Offline

It’s hard to understand how they benefit from the games. It will just turn people off and then lead to less confidence in their brand… short term thinking..

On another note they don’t make their chairman of the boards email accessible for some well warranted hate mail..
If anyone has it for some reason please post…

March 28, 2024
6:02 am
savemoresaveoften
Member
Members
Forum Posts: 2992
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

They are just dumb to cancel the 5.25% promo, then offer the new 6% promo as a new money only promo. Yet they let people move money out and then back in and earn 6%. So they just end up having similar amount of deposit, but pays 6% instead of 5.25%. At to make it worse, piss off a whole bunch of potential new customers, while only pleasing a small amount of existing members who now earn 6% instead of 5.25%.
And now dont have a choice but to close the door of this new promotion after 1 week. The VP who approved the design of these promo should not have a job, these type of new money promotion has been around for years, cant they just a spend a few minutes and see how other banks do it....

March 28, 2024
6:11 am
AR
Member
Members
Forum Posts: 72
Member Since:
August 20, 2019
sp_UserOfflineSmall Offline

Yes, the same promo should have continued and the rate lowered (even to Duca's set standard savings rate) and raised as need be.

March 28, 2024
6:12 am
mordko
Member
Members
Forum Posts: 991
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline

Lodown said
For those who got in before the abrupt cutoff on March 27th, it appears you will not be able to add any additional funds to the account.

 

You are right. That’s weird. Just tested and they don’t allow adding funds to the promo account. Not particularly transparent with their offers. Obviously attracted all the money they needed and had to put a plug in, but wasn’t it foreseeable?

My first experience with DUCA. Made us visit the branch twice. The company gives a feeling of deja vu. Our banks feel a bit dated anyway but DUCA isn’t even from this century.

Please write your comments in the forum.