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Email this10:14 am
August 9, 2011
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I just got my weekly rate sheet from GIC Direct. A new credit union popped up, Belgian/Alliance....never heard of them before, based in Winnipeg.
Went to the website, their rates are 3.25 for 5 years on there. I read their info.
What I want to know/discuss is this:
Are more people investing their GICs in Credit Unions or are they losing their money to the big banks?
I also saw where the profits of the big banks will be disclosed this week. I am sure that will be interesting...meaning, sickening.
Just renewed our last GIC for the year at 3.5% at Achieva. Where to put next year's renewals? The bank has lost a lot from us and doesn't seem too interested in keeping our business.
Any thoughts?
PS Admin - Could/should there be a GIC forum???
regsmith1
11:47 am
August 4, 2010
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There's a GIC rate page (sortable) over at http://money.canoe.ca/rates/gi.....ugh_5.html. Unfortunately, the data source (Fiscal Agents) doesn't seem to list some institutions (Ally, Hubert for instance). There's also no info on cashability (possibility, penalty rates).
I was looking around myself recently, and made a really quick list of some of the high-end options just for comparison.
9:18 pm
May 15, 2007
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regsmith1 said:
PS Admin - Could/should there be a GIC forum???
It would be easy for me to create a GIC sub-forum. It would just depend on whether there's enough demand for one! What do other people think?
1:48 am
March 25, 2009
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You got my vote.
Have a great day
7:03 am
May 15, 2007
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I've now created the GIC forum and moved this thread there. Note that there is of course a lot of institution-specific discussion around GICs in specific sub-forums, so you can also do a site search to find more to read and discuss!
4:45 pm
I had a GIC mature and want o stick to my ladder and put it in a 5 year GIC, I think I will try Outlook, they have a five year at 3.5 and it is redeemable, I think that is the best you can get right now.
I wish CDIC insured institutions had rates as good as the Manitoba Credit Unions, because I don't want to always use the Manitoba credit unions.
4:01 am
July 30, 2017
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the CIDC is about security of the money not rates
It seem for a while now that bank raise the money they needed for lending through selling bonds and other financial instruments through brokerages that they owen and not through deposits . this seems to be their business model . and I do not think it is going to change
Credit union have the business model of how banks used to be getting money from depositors and lending it out . they do not seem to have the ability or the desire to raise money for loans by sell bond through brokerages could be the cost of capital would be to high
The banks do not really want savers ! I am unwelcome there and am treated that way by them
6:39 am
December 20, 2016
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regsmith1 said
I just got my weekly rate sheet from GIC Direct. A new credit union popped up, Belgian/Alliance....never heard of them before, based in Winnipeg.Went to the website, their rates are 3.25 for 5 years on there. I read their info.
The Belgian Alliance website today shows 2.45% at the 5 year rate and indicates those rates have been in effect since August 3, 2017. Was there a special promo two days ago?
https://belgianalliancecu.mb.ca/main/index.php/2015-06-23-20-20-26/personal-rates
6:44 am
November 19, 2014
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Nehpets said
The Belgian Alliance website today shows 2.45% at the 5 year rate and indicates those rates have been in effect since August 3, 2017. Was there a special promo two days ago?
https://belgianalliancecu.mb.ca/main/index.php/2015-06-23-20-20-26/personal-rates
The post you are referring to is from 6 years ago.
6:49 am
December 20, 2016
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Peter said
I've now created the GIC forum and moved this thread there.
Thanks for doing this, Peter. It's an area of specific interest to me, so I will follow discussions in this section.
Added later: Just noticed this is an old thread and the change was made long ago....but thanks anyway
Stephen
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