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Email this7:37 am
October 23, 2013
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Hello folks , YNCU credit union has a nice offer of 4.5 percent for 4 months, any info on pros and cons, good and bads ?.....thank you.....
7:53 am
December 20, 2016
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What is YNCU?
7:57 am
October 23, 2013
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YNCU is a credit union in southern ontario
9:17 am
September 29, 2017
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To be clear, the offer is for a 4-month GIC. They also offer 4% for a 5-yr GIC.
12:15 pm
January 12, 2019
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.
Nice rates, But . . .
- "To be a member, you need to be a resident of Ontario"
That leaves me (and many others) 'Out'. 
- Dean
" Live Long, Healthy ... And Prosper! "
10:54 pm
October 21, 2013
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Nehpets said
What is YNCU?
It stands for "Your Neighbourhood Credit Union". Many branches in southern Ontario. No experience yet.
8:48 am
December 20, 2016
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Loonie said
It stands for "Your Neighbourhood Credit Union". Many branches in southern Ontario. No experience yet.
Loonie (always) to the rescue!!!!
Thank you 
Stephen
11:33 am
November 7, 2014
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I have used them via GIC Wealth Mmt. Much of their business is done through deposit brokers.
FYI If you want a legend of abbreviations for some of the FIs, try this site at the bottom of the page.
2:59 pm
December 20, 2016
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gicjunkie said
........
FYI If you want a legend of abbreviations for some of the FIs, try this site at the bottom of the page.
The Collingwood site is an excellent resource; Thanks!
Stephen
6:37 pm
August 16, 2022
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Signed up for this promotion today and starting it on July 2nd after interest is paid to my account at Omnia Direct. Was getting 4.29% there but was expiring July 21st. It was pretty exhausting setting this up but eventually got it done with the great help of a young lady at their corporate office. They are actually going to pull the full amount from Omnia on the 2nd. Worth it to me, getting almost $29 a day interest for 4 month. Haven't been on here in awhile. I hope everyone is well. Cheers ☺️
7:12 am
November 16, 2019
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Dean said
.
Nice rates, But . . .
"To be a member, you need to be a resident of Ontario"That leaves me (and many others) 'Out'.
Dean
You could always move 
7:24 am
August 20, 2019
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Moneyman2 , check your omnia docusign for $500 balance required for promotion duration. If $500 locked, pulling from external might pose a problem.
12:34 am
August 16, 2022
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The person I was dealing with never mentioned anything. They asked why I was moving my $$ and I just said, yours is expiring soon and they have a better rate. Asked if I want to move full amount. We shall see on July 2nd if it is seamless.
8:16 am
December 20, 2016
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stingray said
...YNCU credit union has a nice offer of 4.5 percent for 4 months, any info on pros and cons, good and bads ?.....thank you.....
From the original posting, for which I thank "stingray" for acquainting me with YNCU, I took advantage of the 4 month promo at the local "Comtech" branch
When I initially called the info line at YNCU and explained I live in Eastern Ontario, it was like telling them I lived on Mars!! ana that they only service Southern Ontario.
By pursuing I learned that YNCU acquired Comtech Fire Credit Union last year in a merger, and that Comtech has a branch near me. Comtech operates under their own brand as well as the YNCU brand and I learned the official transition to YNCU will occur later this summer.
In the end, I was able to set up the promo locally and was told their corporate policy would be to try to retain those funds by (hopefully) rate matching with competitors at maturity in four months.
We will wait and see, and would suggest keeping an eye on this one to see if they can be another viable option in the dwindling selection of credit unions.
Stephen
1:40 pm
September 30, 2017
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Are you saying these two CU are in-branch only? Or that you only prefer in-branch?
5:10 am
September 7, 2018
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Nehpets said
From the original posting, for which I thank "stingray" for acquainting me with YNCU, I took advantage of the 4 month promo at the local "Comtech" branch
When I initially called the info line at YNCU and explained I live in Eastern Ontario, it was like telling them I lived on Mars!! ana that they only service Southern Ontario.
By pursuing I learned that YNCU acquired Comtech Fire Credit Union last year in a merger, and that Comtech has a branch near me. Comtech operates under their own brand as well as the YNCU brand and I learned the official transition to YNCU will occur later this summer.
In the end, I was able to set up the promo locally and was told their corporate policy would be to try to retain those funds by (hopefully) rate matching with competitors at maturity in four months.
We will wait and see, and would suggest keeping an eye on this one to see if they can be another viable option in the dwindling selection of credit unions.
Stephen
Did Comtech/YNCU charge you a membership fee for buying this short term GIC?
If so how much? I presume one can buy it online if not a branch nearby.
6:29 am
November 18, 2017
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Most credit unions don't charge a membership fee but require one to buy a small amount of shares, $5-$25. And those are refunded when one leaves. Some accumulate share dividends, which can be a good deal.
I don't know about YNCU or Comtech.
RetirEd
8:49 am
December 20, 2016
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Are you saying these two CU are in-branch only? Or that you only prefer in-branch?
Online banking platforms are available and I am enrolled in them if I want to use them for EFT. I happened to visit the local Comtech branch because it is close to home, for the experience. Also to make a personal contact with the manager, for possible future investment opportunities.
I prefer online access whenever possible, however.
Did Comtech/YNCU charge you a membership fee for buying this short term GIC?
If so how much? I presume one can buy it online if not a branch nearby.
They do the $5.00 share procedure which is a lot more favorable than some of the ethnic CU's like Ukrainian CU that charges $150? for a share and refunds only part on departure.
I was pleasantly surprised to learn they use a secure email system to send documents via email as opposed to some CU's and FI's who insist on using conventional email to transmit and / or receive sensitive information.
I will be keeping an optimistic eye on this one
Stephen
6:08 am
August 16, 2022
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Everything went as seamless as possible. Omnia transfered my $$ like I has asked from my HISA to a transfer account on July 2nd after interest was paid. YNCU pulled the $$ from Omnia on July 3rd and purchased the 4.5% 4 month GIC for me. No problems. I had the transfer account at YNCU set up about a week earlier and funded the $5 membership fee. I couldn't be happier with how everything turned out. Omnia never charged anything. Previous message was asking if you needed to leave I believe $500 because the 4 month rate at Omnia expired on July 21st and I was taking early. It wasn't a GIC and I could have taken my $$ whenever I wanted. YNCU is now a GIC and locked in and I can't remove until Nov 2nd.
Thanks Stingray for the headsup on this. I owe you a coffee ☕️
7:27 am
September 30, 2017
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YNCU ranked 25 by asset size on the Largest 100 Credit Unions (CCUA) dated September 2024. In comparison, WFCU (Omnia Direct) ranked 21 on the same report.
... unfortunately I can no longer found the same latest report on unrestricted side of CCUA
