Access Credit Union over 250K Platinum Savings increase from 2.6 to 2.75% | General comparisons | 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
Access Credit Union over 250K Platinum Savings increase from 2.6 to 2.75%
July 25, 2018
9:59 pm
miro
Member
Members
Forum Posts: 32
Member Since:
April 5, 2018
sp_UserOfflineSmall Offline

For those in Manitoba Access CU Savings Acc Over 250K rate increase to 2.75%

Link

July 26, 2018
6:13 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

This is a S. Manitoba small-towns CU with an apparently far reaching base of clients

Member Service Centre

1.800.264.2926 (North America)
0.800.180.0963 (Germany)
001.800.514.2926 (Mexico)

July 26, 2018
9:38 am
Bud
Member
Members
Forum Posts: 1147
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

Access on the phone claims gic investors from Ontario can purchase a gic from Access, first open an account, but were unclear if account can be linked to external bank account e.g. TD

https://www.accesscu.ca/BecomingAMember/

Has anyone dealt with Manitoba CU Access out of province any issues?

Their 22mth gic is 3.15%
https://www.accesscu.ca/Rates/

July 26, 2018
1:40 pm
Loonie
Member
Members
Forum Posts: 6404
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Top It Up said
This is a S. Manitoba small-towns CU with an apparently far reaching base of clients

Member Service Centre

1.800.264.2926 (North America)
0.800.180.0963 (Germany)
001.800.514.2926 (Mexico)  

This geography suggests to me a Mennonite base. Steinbach CU comes out of that community and does very well. I could be wrong, of course, but if I had to think of a way to link MB, Germany and Mexico, this would be it.

July 26, 2018
3:23 pm
Kidd
Member
Members
Forum Posts: 547
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

Loonie, You have found the perfect link between the 3, Mennonites. Excellent find.

https://uwaterloo.ca/grebel/publications/conrad-grebel-review/issues/winter-2015/village-among-nations-low-german-migrants-and-idea

Me being me, i would have said, a dislike for a certain American president. It seems most of my humour is lost here in this forum. I believe it's because i'm more of a radical, whereas most of the members here are... i guess, more professional. It must be that old blue collar vs white collar kind of thing.

But i have noticed, most of us awake in the middle of the night, so we have that in common, a bladder that can't wait until morning.

July 26, 2018
3:37 pm
Loonie
Member
Members
Forum Posts: 6404
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

I do appreciate (most of!) your humour, Kidd. There's rather a lack of it here in general. Generally, nobody responds to mine either - too dry, I suspect.
Have you considered a post-retirement foray into stand-up?sf-cool
From what I hear, everyone is supposed to have a retirement sideline in the new economy!

July 26, 2018
3:56 pm
Kidd
Member
Members
Forum Posts: 547
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

To be honest... it has been mentioned (stand up) but i have a tendency to offend everyone because I have no sense of a filter. Peter is my moderator here.

July 27, 2018
1:20 am
Loonie
Member
Members
Forum Posts: 6404
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Kidd said
To be honest... it has been mentioned (stand up) but i have a tendency to offend everyone because I have no sense of a filter. Peter is my moderator here.  

Nobody ever succeeded in stand-up by being "moderate".
Practice makes perfect!

You can learn a lot from the following reactions:
sf-surprisedsf-embarassedsf-kisssf-crysf-yellsf-winksf-laughsf-confusedsf-frownsf-smilesf-cool

If you can, take a listen to The great gasbag : an A-to-Z study guide to surviving Trump world, by Joy Behar. Audio version, read by the author, is best, available in some libraries. This is recent, offensive in parts, very offensive to some people no doubt, and, surprisingly to me, very funny. She gets away with it because she's eloquent and funny.

Then, go find yourself an open mike!

I'm always willing to give unqualified advice on careers, relocating, personal finance, and anything else I don't really know much about - and to get off-topic for a good cause!
But 70+ years of life experience has to be worth something, right?sf-laugh

July 27, 2018
3:32 pm
James
Member
Members
Forum Posts: 162
Member Since:
January 30, 2009
sp_UserOfflineSmall Offline

FYI - the Platinum Account referred to in the original post is paid annually (not monthly).

I haven't called them yet since since the annual payment may be a deal breaker for me but for those interested, I would also check with them if the 2.75% for balances $250,000 and up applies to the full balance, or only the portion above $250,000. I suspect it is the former but good to ask.

"Designed for members looking for a long-term high-yield Savings account, our Platinum Savings Account provides one free withdrawal a month and interest calculated on your minimum monthly balance, paid annually.

Platinum Savings Rates

$0 - $99,999 .................. 2.45%

$100,000 - $249,999 ..... 2.55%

$250,000+ ..................... 2.75%

Minimum $100 deposit required to open.

Statements will be provided electronically.

*Rates subject to change"

PS. I would go to see a comedy act called 'Loonie and Kidd' if you want to team up. Maybe you could make it half a discussion about banks, and half about jokes. Fits the name perfectly.

July 27, 2018
6:59 pm
Kidd
Member
Members
Forum Posts: 547
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

How i see it.

James.

If the interest is calculated on the minimum closing "daily" balance, paying yearly would not really be a deal breaker, especially if the rates are better than other financial institutions. GICs pay yearly. The advantage to this over a gic is... your balance can fluctuate. Even if your account balance goes to zero, at years end, they will give you the interest earned.

Added edit

I did read, you said they calculate interest on "monthly" balance. I think most FI now look at your daily balance.

July 29, 2018
9:01 am
James
Member
Members
Forum Posts: 162
Member Since:
January 30, 2009
sp_UserOfflineSmall Offline

Kidd said
How i see it.

James.

If the interest is calculated on the minimum closing "daily" balance, paying yearly would not really be a deal breaker, especially if the rates are better than other financial institutions. GICs pay yearly. The advantage to this over a gic is... your balance can fluctuate. Even if your account balance goes to zero, at years end, they will give you the interest earned.

Added edit

I did read, you said they calculate interest on "monthly" balance. I think most FI now look at your daily balance.  

Hi Kidd,

I understand what you're saying. Note that they charge you if you withdraw more than once per month. Further, the annual payment just irritates me. Now I have to keep track of my balances each month (average) over the whole year and make sure if my balance does drop to zero they don't close my account, and make sure that I don't drop below the thresholds they set above or if I do, calculate interest based on the lower threshold, and make sure that when I'm paid the interest is calculated correctly, etc. etc. Also it's not clear to me, but the way I read it, you lose out on the benefit of compounding interest (but maybe not - someone more interested than me would need to clarify this with them).

Please write your comments in the forum.