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Parama CU 2.25% 1 Yr GIC
May 2, 2017
9:29 am
Nehpets
Ontario
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Parama CU, a Lithuanian credit union is offering 2.25% on a 1 year GIC for new clients, advertised today.

Stephen

May 8, 2017
8:46 pm
Save2Retire@55
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This is interesting as I have never heard of them but sorry not a good time with PC and EQ offering new rates higher than 2.25%. I'd have considered if it was 2.5% - 3%.

May 8, 2017
9:26 pm
Loonie
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However, PC and EQ are not guaranteeing the rate for a year. PC in particular specifies end of August, and the only reason EQ increased their rate was because of the goings on with HCG; EQ will drop it again as soon as the danger passes. These are not trend-setting rates.
I'd consider Parama if willing to lock up for a year.

May 9, 2017
5:51 am
Nehpets
Ontario
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Consider Northern CU's offer until May 15, 2017:
Source: https://www.northerncu.com/personal/investments/special-offers/
Save your way with Northern Credit Union’s 3-year True North Free GIC.
This offer has been extended until May 15, 2017!
Don't get trapped by inflexible investments. With the True North Free GIC you get a great rate and you're not locked in for the long-term.

2.25% for the first 12 months
2% for the remaining 24 months
36-month term
Option to cash out or transfer funds on 1st or 2nd anniversary of initial deposit
Available in registered and non-registered plans
RSP/TFSA/RIF eligible

May 9, 2017
7:08 pm
Save2Retire@55
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From their Terms & Conditions:
Interest on Eligible Deposits will be paid annually on the anniversary date and at final maturity at the end of 3 years.
This means no accumulated interest rate.

BTW, are these CUs insured / safe?

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