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Email this7:55 am
October 21, 2013
Online
They have a history of high minimums for one year GIC specials. I remember when it was only about 75K. Another time it was 250K. A few weeks ago it was 200K for the same rate.
I would not accept an offer that required 250K or more as it puts you over insured limit. It annoys me that Equity pushes people to deposit uninsured funds.
Audited statements can be helpful, but they are out of date before the ink dries. I would imagine that the "Notes" are available to members on request. Few CU members read this stuff or attend AGMs, from what I can tell. I suspect the simplified version was posted in the hopes of making it more attractive reading material.
8:10 am
March 30, 2017
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Loonie said
They have a history of high minimums for one year GIC specials. I remember when it was only about 75K. Another time it was 250K. A few weeks ago it was 200K for the same rate.I would not accept an offer that required 250K or more as it puts you over insured limit. It annoys me that Equity pushes people to deposit uninsured funds.
Audited statements can be helpful, but they are out of date before the ink dries. I would imagine that the "Notes" are available to members on request. Few CU members read this stuff or attend AGMs, from what I can tell. I suspect the simplified version was posted in the hopes of making it more attractive reading material.
I will go further and say I will not deposit above the insured limit at any rate, no matter how attractive it is. The more its "off market", the more I will be concerned esp over the insurable amount. No thanks
8:10 am
March 30, 2017
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savemoresaveoften said
I will go further and say I will not deposit above the insured limit at any CU at any rate, no matter how attractive it is. The more its "off market", the more I will be concerned esp over the insurable amount. No thanks
sorry meant to edit the post above by ended up creating another post, my bad.
2:11 pm
February 1, 2016
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I would like to express my appreciation to Loonie for posting the 1-year 2% rate for minimum $200K term deposit at Equity Credit Union a couple of weeks back. I don't think I would have found this information without that alert.
This offer was the sweet spot I needed at this particular time. It was within insurable deposit limits and it was possible to set up an account without a visit to Ajax. I have been able to consolidate deposits that were held in individual accounts back into the desired joint account with right of survivor.
I have had a pleasurable experience setting up an account with Equity CU and pleased to have another account to hold fully insured funds that exceed CDIC protection.
Kudos also to Hubert and Canadian Tire Bank for swift movement of funds and to CIBC for a no-hold on those deposits. This allowed me to complete the deal before the minimum deposit increased to $400K. My deposit arrived at Equity the same day that change was made.
All is well. Thank You All!
6:47 pm
October 21, 2013
Online
I'm glad it worked out so well for you, rodeworthy!
I remember a few years ago I was looking for a specific kind of offer and gicjunkie posted one that was a match which I would never have found. It was a great feeling to have found what I needed.
6:22 am
September 30, 2017
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Equity CU (Ajax, ON) 5 year rate also hits 3%
1 year 2.00% ... footnote still applies !?
2 year 2.25%
3 year 2.45%
4 year 2.65%
5 year 3.00%
6:39 am
September 15, 2017
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GIC rates increased, now ranging from 2.30% for 1 year to 3.10% for 5 years - without high minimums.
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