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Tandia Credit Union Long Term Rates (Ontario only)
June 19, 2021
10:07 am
gicjunkie
Ontario
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Ontario Only

NON-REDEEMABLE LONG TERM DEPOSITS RATE
1 Year Term Deposit 1.00
18 Month Term Deposit 1.25
2 Year Term Deposit 1.50
3 Year Term Deposit 1.75
4 Year Term Deposit 2.05
5 Year Term Deposit 2.25
Minimum $500, youth/trust $100, non-redeemable. Semi-annual or monthly interest payments (min. $5,000) available at slightly lower rates. Renews for same term at maturity.

https://www.tandia.com/personal/product-services/rates

It appears that more FIs, (credit unions in particular) are moving toward the 2.25% for 5 year rate.

June 19, 2021
10:50 am
COIN
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gicjunkie said
Ontario Only

NON-REDEEMABLE LONG TERM DEPOSITS RATE
1 Year Term Deposit 1.00
18 Month Term Deposit 1.25
2 Year Term Deposit 1.50
3 Year Term Deposit 1.75
4 Year Term Deposit 2.05
5 Year Term Deposit 2.25
Minimum $500, youth/trust $100, non-redeemable. Semi-annual or monthly interest payments (min. $5,000) available at slightly lower rates. Renews for same term at maturity.

https://www.tandia.com/personal/product-services/rates

It appears that more FIs, (credit unions in particular) are moving toward the 2.25% for 5 year rate.  

I'm locked into their 90 day GIC for now but I think time is on my side.

June 19, 2021
11:07 am
Dean
Valhalla Mountains, British Columbia
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COIN said

I'm locked into their 90 day GIC for now but I think time is on my side.  

I'm staying 'Short' as well (no longer than 18 months), as I'm guessing 2.25% will look like a joke, in a year or two from now.

Time will tell ❗

    Dean

sf-cool " Live Long And Prosper " sf-cool

June 19, 2021
1:10 pm
COIN
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Dean said

I'm staying 'Short' as well (no longer than 18 months), as I'm guessing 2.25% will look like a joke, in a year or two from now.

Time will tell ❗

    Dean

  

I'm old enough to remember the inflation of the early 1980's. Apparently, it was caused by the U.S. financing the Vietnam war by printing money instead of raising taxes.

Now we have the Federal Reserve and Bank of Canada printing money to finance the "COVID war".

June 19, 2021
2:38 pm
gicjunkie
Ontario
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Higher rates are inevitable, but how soon is anyone's guess.

June 25, 2021
8:21 am
hwyc
GTA
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Tandia rates (my) hi-lite as of today -
3 Year Term Deposit 1.85%
4 Year Term Deposit 2.20%
5 Year Term Deposit 2.35%

https://www.tandia.com/personal/product-services/rates

Minimum $500, youth/trust $100, non-redeemable. Semi-annual or monthly interest payments (min. $5,000) available at slightly lower rates. Renews for same term at maturity.

July 8, 2021
8:26 am
gicjunkie
Ontario
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Another rate hike! 5 years at 2.50%.
NON-REDEEMABLE LONG TERM DEPOSITS

RATES
1 Year Term Deposit 1.15
18 Month Term Deposit 1.25
2 Year Term Deposit 1.60
3 Year Term Deposit 1.85
4 Year Term Deposit 2.30
5 Year Term Deposit 2.50

August 5, 2021
2:17 pm
hwyc
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Trending down slightly

  • 1 Year Term Deposit 1.05
  • 18 Month Term Deposit 1.25
  • 2 Year Term Deposit 1.60
  • 3 Year Term Deposit 1.75
  • 4 Year Term Deposit 2.20
  • 5 Year Term Deposit 2.40

Minimum $500, youth/trust $100, non-redeemable. Semi-annual or monthly interest payments (min. $5,000) available at slightly lower rates. Renews for same term at maturity.

August 5, 2021
4:36 pm
COIN
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Does anyone know why Tandia's rates are higher than the "market norm"?

September 2, 2021
5:57 am
hwyc
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Of interest today >> 3-yr @ 2.10%
https://www.tandia.com/personal/product-services/rates

... rate well above current chart leader
I wish more FI will come to compete on the 3-yr or shorter terms.

BTW Tandia ranked 39th of top 100 (by asset size) by CCUA

September 2, 2021
10:41 am
canadian.100
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COIN said
Does anyone know why Tandia's rates are higher than the "market norm"?  

I looked at Tandia's latest financial statements and compared that CU's results to 2 other CUs which I simply picked at random.
Tandia had a fair drop in net income from 2019 to 2020 from $3,761M to $2,539M a significant drop of 32.5% - while DUCA CU had a increase in net income from 2019 to 2020 - from $12,032M to $12,838M and First Ontario CU had a fair increase in net income from $14,144M to $24,763M.
There are regulators, depositors/investors who do look at the financial statements of the FI to see if there is anything which might be of interest in determining whether they would or might not wish to deal with them. I did not do any further analysis to see if there was an explanation for the significant drop in net income in the Notes to the Financial Statements - maybe there was or maybe not - but "the bottom line" is it could be that Tandia simply has to pay more interest over the "market norm" to attract money since regulators, depositors/investors might be concerned with performance and quality of management etc. based on the financial results and other criteria.

September 2, 2021
1:37 pm
Loonie
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Thanks for the report. Wouldn't these regulators and depositors etc (especially regulators) also be concerned about a CU promising to pay rates that might not be sustained by income? Just wondering.

September 2, 2021
2:11 pm
canadian.100
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Loonie said
Thanks for the report. Wouldn't these regulators and depositors etc (especially regulators) also be concerned about a CU promising to pay rates that might not be sustained by income? Just wondering.  

I don't know how much monitoring is done by CU regulators.
It would have been good if the regulators had done more oversight covering all PACE operations - but resources are probably not adequate to do that level of oversight.

October 13, 2021
11:12 am
gicjunkie
Ontario
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Tandia 5 Year rate back up to 2.50%

NON-REDEEMABLE LONG TERM DEPOSITS

1 Year Term Deposit 1.05
18 Month Term Deposit 1.25
2 Year Term Deposit 1.60
3 Year Term Deposit 2.10
4 Year Term Deposit 2.20
5 Year Term Deposit 2.50
Minimum $500, youth/trust $100, non-redeemable. Semi-annual or monthly interest payments (min. $5,000) available at slightly lower rates. Renews for same term at maturity.

https://www.tandia.com/personal/product-services/rates

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