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OMNIA Direct - Better than Ukrainean annual rates
October 2, 2017
8:22 pm
gicjunkie
Ontario
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OMNIA Direct, a Division of WFCU in Windsor Ontario.

GIC rates:

1 year 2.15%
2 years 2.25%
3 years 2.40%
4 years 2.55%
5 years 2.85%

OMNIA operates exclusively on line.

https://omniadirect.ca/about-omnia-direct

October 3, 2017
6:23 am
Nehpets
Ontario
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Depending on how you foresee the future of interest rates....

If you think rates may increase in the short term, parking money at 2.4 to 2.6% for four months may be just the bridge you might choose.

Otherwise for longer term GIC's I agree they are not that competitive.

Of course, you can always get 2.5% in HISA with WealthOne and your money is not tied up!

October 3, 2017
7:32 am
AltaRed
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This institution available to Canadians in general?

October 3, 2017
8:07 am
gicjunkie
Ontario
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AltaRed said
This institution available to Canadians in general?  

As far as I know, it's good for all Canadians, but you should call them with any questions.

1-888-767-9535
or email them: questions@omniadirect.ca

October 3, 2017
9:12 am
Rick
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Not sure I want to park money in a bank (?) that's only product is GIC's. Motive beats the 2,3 and 4 year rates and no lag moving money around.

October 3, 2017
9:45 am
AltaRed
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Rick said
Not sure I want to park money in a bank (?) that's only product is GIC's. Motive beats the 2,3 and 4 year rates and no lag moving money around.  

Neither do I. Nor am I interested.

My main point was the OP should be providing proper context when cheerleading an institution. Not giving me contact information to find out for myself.

October 6, 2017
7:11 am
Koogie
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AltaRed said
Neither do I. Nor am I interested.
My main point was the OP should be providing proper context when cheerleading an institution. Not giving me contact information to find out for myself.  

Sorry but I don't see how gicjunkie was "cheerleading" them. S/he was bringing us information about a new promotion, which we should encourage everyone to to do.

You obviously wanted to know if it was available in BC. Others would want to know if they were available for TFSA, etc.. A poster can't provide every scrap of information, so why try ? And s/he provided the weblink to Omnia. Surely that is enough for grownups to be able to get the information they require ?

October 6, 2017
11:03 am
Nehpets
Ontario
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Koogie said
Sorry but I don't see how gicjunkie was "cheerleading" them. S/he was bringing us information about a new promotion, which we should encourage everyone to to do.

You obviously wanted to know if it was available in BC. Others would want to know if they were available for TFSA, etc.. A poster can't provide every scrap of information, so why try ? And s/he provided the weblink to Omnia. Surely that is enough for grownups to be able to get the information they require ?  

Couldn't have said it better myself! Thank you for your comment, Koogie!

The value of this Forum is the input from Forum members about changes and developments across the market, especially when information is shared about unlikely or not well know resources.

It's up to each individual to then investigate and decide if the opportunity is right for them.

October 6, 2017
12:50 pm
gicjunkie
Ontario
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To Koogie and Nehpets:

Most of us contributors are just trying to provide a "heads up" for new opportunities which may be out there for each other. Sometimes meaningful discussions/advice also result. What each individual does with the information is up to him/her self. We are not investment planners. The pay isn't worth it.

Thanks for the support.

October 6, 2017
1:27 pm
Loonie
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When new options like this have come up in the past, I have often gone to the trouble of supplementing the original post with whatever else I found out that was relevant when I visited the site in question. Yes, I wished I didn't have to do it, but it provides a handy reference for me and others. Surely we can all do the same? If you don't want to be bothered, then, fine, but no need to chastise others.
Sometimes OPs do post more info, if they have it. Other times they don't, for any number of reasons, including that they haven't had time to look into it yet but wanted to flag it.
The time spent getting annoyed and complaining (twice) could be spent looking into the question. My guess is that the use of the word "cheerleading" is what has ticked off some of us. It is sarcastic, and there is no place for that in responding to someone's informational post - especially someone who is well known to us as a contributor to this forum as someone who searches out the more obscure GIC offers.
However, I'm willing to cut AltaRed a little slack as s/he too is a valued member of this forum. I'm sure he/she intended to improve the quality of the forum as well as to express personal annoyance.

October 7, 2017
4:01 am
JenE
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Thanks, gicjunkie, for the info.sf-smile

October 9, 2017
5:34 pm
AltaRed
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In my defence, the OP had obviously done enough research to know GIC rates, email address, phone number et al, and would (should) have known qualifying information. However, my 'cheerleading' reaction to being told that I should phone or email them was totally unnecessary, and for that I apologize.

October 10, 2017
9:33 am
gicjunkie
Ontario
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AltaRed said
In my defence, the OP had obviously done enough research to know GIC rates, email address, phone number et al, and would (should) have known qualifying information. However, my 'cheerleading' reaction to being told that I should phone or email them was totally unnecessary, and for that I apologize.  

As I said earlier, I am happy to provide some basic information about what may be some little known opportunities for the people who subscribe to this blog. Sometimes an institution is quietly offering some special rates. Sometimes a broker is advertising some special rates. Sometimes an institution has odd ways of calculating and paying interest. Each individual here has his/her own needs, curiosities, expectations, etc. regarding these issues. We here are all capable of researching the opportunities highlighted herein. We are all internet savvy and able to use a telephone. My questions about an institution and or any investment may be very different than someone else's.

Personally, I wouldn't expect someone on this blog to provide all details about any institution or its investment opportunities. That's a lot of work to expect and it also may create some very long entries to this site. It also may provide some very boring reading. (eg. this particular entry). I am quite happy when someone gives me a "heads up" about some special investment. It's then up to me to check out the actual source of the info to see if it's actually good for me. Although we all do our best to provide accurate information here, the only really accurate information is available from the source institution/broker itself.

I am thankful to have you all doing some basic research for me and I remain happy to provide whatever basic information I can to you.

Enough said. Apology accepted. Let's move on.

October 10, 2017
4:37 pm
julio
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I personally visited a UkrainianCU.com branch: 2.60% for 4 months on new money. That than brings us to RRSP promo time.

Please write your comments in the forum.