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Omnia Direct 3% 1 Year
May 14, 2018
1:34 pm
Nehpets
Ontario
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Omnia Direct, according to their website is an exclusively online service of Ontario based WFCU Credit Union and Omnia Direct is currently paying 3% on a one year GIC

Anyone have experiences, feedback with Omnia Direct?

May 15, 2018
8:32 am
gicjunkie
Ontario
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I have a GIC with them. Dealt with a very nice lady there (I believe her name is Kathryn Tucci, as in Stanley). Everything was done on the phone, except for mailing in a cheque. Interest is deposited directly my home bank without any issues. Everything went smoothly.

June 2, 2018
6:02 am
Nehpets
Ontario
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Posted on the Omnia Direct website noticed today:

1 yr..............3.00%
18 month.....3.10%
2 yr..............3.25%

June 3, 2018
7:53 am
Londonguy
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gicjunkie said:

I have a GIC with them. Dealt with a very nice lady there (I believe her name is Kathryn Tucci, as in Stanley). Everything was done on the phone, except for mailing in a cheque. Interest is deposited directly my home bank without any issues. Everything went smoothly.

I'm curious, how many days in total of lost interest occurred due to your having to move funds into a chequing account and then mail in a check instead of being able to make a direct electronic transfer?

June 26, 2018
6:02 pm
gicjunkie
Ontario
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Sorry for the late reply. I have a TD Canada Trust high interest (Hah-Hah!) savings account on which I can write cheques, so that's really not an issue. I use this account to funnel money through from an expiring investment in one company to a better paying institution. If I want to transfer money directly from somewhere else by cheque I generally wait until a few days after I mail the cheque, before transferring the money from savings to chequing. Some institutions, as a goodwill gesture, will actually backdate the GIC to the date you spoke to them in order to get your new business, as long as they receive the cheque within a week. Some can be asked, once they get the cheque, to hold it and let me know so I can, at that point, transfer the money to chequing. These are a few ways of not losing interest in the "set up" stage.

July 14, 2018
3:06 am
Loonie
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A curious fact about Omnia: its services are not available to residents of Essex County (ON), where WFCU is located. Essex Co residents are expected to go to WFCU branches.
https://omniadirect.ca/questions

They do not yet offer savings or chequing accounts, but they say these are coming.

July 14, 2018
7:56 am
Norman1
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Still offering pretty good rates for one year as well as for 18 months and two years:

1 year 18 months 2 years 3 years 4 years 5 years
Omnia Direct 3.00% 3.10% 3.25% 2.80% 2.95% 3.00%
Oaken Financial 2.80 3.00 3.10 3.25 3.30 3.50
WFCU 0.85 2.85 0.95 1.05 1.15 1.40

For Ontario residents only.

Fine print says those rates are for new money only:

*Rates quoted are for the full quoted term. New funds only. Minimum investment of $500. Terms and conditions apply. Rates are subject to change without notice.

I didn't see any indication on the Omnia Direct web site what the existing-money rates would be on renewal. Hopefully, it is not those regular WFCU GIC rates.

July 14, 2018
11:37 am
Loonie
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They also have a one-year USD GIC at 1%

October 30, 2018
6:12 am
hwyc
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I learned about Omnia Direct in May because of this thread and put my money there.
These rates on their website as of Oct 30, 2018 is still competitive

1-yr 3.40% https://omniadirect.ca/1-year-gic
2-yr 3.25% https://omniadirect.ca/2-year-gic
3-yr 2.80% https://omniadirect.ca/3-year-gic
4-yr 2.95% https://omniadirect.ca/4-year-gic
5-yr 3.00% https://omniadirect.ca/5-year-gic

November 1, 2018
2:50 am
Pennywise
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March 30, 2018
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hello
I bought four gics in June of this year the rates are very good I did the whole thing on the telephone the people there are very nice and helpful.
The deposits are insured so it's. Quite painless. I was looking for decent rates for shorter term as I suspected interest rates to climb quite a bit.so I bought 1 year and 18months. All over 3 percent
Kelly Tiede helped us to set them up.
She is very helpful and responsive.

Kelly Tiede. Email ktiede@wfcu.ca

Just wanted members to know it's a good deal here for credit union
savings.
I hope this helps someone.
Hefes a YouTube info video you may wish to look at.about the credit union.

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