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Vancity Unity Term Deposit 3% one year term
March 23, 2020
8:36 pm
boatowner2000
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Just announced march 23, 2020

March 23, 2020
9:07 pm
Canadianbull
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March 24, 2020
5:42 am
Bud
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Only for B.c residents I guess

maybe will show up on third party broker lists

March 24, 2020
10:08 am
GICinvestor
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boatowner2000 said
Just announced march 23, 2020  

Thanks I guessed I missed this offer. Was it mixed in one of the covid emails?

They tell why rates, in some cases, are going up.

“Vancity turns your deposits into loans that will directly support people and businesses who are struggling due to the COVID-19 pandemic. You get a competitive return on your investment, and other members get much-needed loans or loan payment relief to sustain themselves and their businesses through these difficult times.”

March 24, 2020
10:46 am
Rick
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Nice deal for a BC based CU. I happen to have some cash coming in April and also looking to open another TFSA account somewhere by the end of the year to stay under CDIC limits with Motive. But what do I do after 1 year? Looking at their everyday rates, it's not worth opening an account for 1 year, and won't keep anything Van City at these rates:
Plan 24 Savings (Rates effective 2020-03-21) Rates
All Balances 0.05%
Plan 24 Savings Plus (Rates effective 2020-03-21) Rates
All Balances 0.05%
Jumpstart® High Interest Savings (Rates effective 2020-03-21) Rates
All Balances 0.30%
Investment Savings* (Rates effective 2020-03-21) Rates
$0.00 - $9,999.99 0.05%
$10,000.00 - $24,999.99 0.10%
$25,000.00 - $99,999.99 0.20%
$100,000.00 + 0.50%

Too bad. Would really like to add a BC based FI to keep some money close to home, but not going to happen if I need to deposit 100K for their best rate of .5%.
Fail to understand why BC CUs aren't able to offer competitive rates compared to MB, ON or even Alberta.

March 28, 2020
2:59 pm
GR
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Is this only for BC residents or does new membership require in-branch visit?

March 28, 2020
3:42 pm
Loonie
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If one does it, others may follow.
Hang in, Rick!

March 28, 2020
6:38 pm
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GR said
Is this only for BC residents or does new membership require in-branch visit?  

I am a VanCity member. They are not known for good rates. But are fantastic to deal with for that day to day, face to face banking.

I checked and you have to be online and a member. You submit a request and they will do a follow up call to complete the process. They do not have online GICs. They have dropped e-Transfer fees for the time being a well.

March 29, 2020
6:04 pm
LeBronBMT
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Apparently you can only open an account in branch.

March 29, 2020
8:16 pm
Bud
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Occasionally thru Rbc Direct brokerage Van will do a special. Last around Jan 2019.

If anyone sees a pop-up in this volatility on a bank broker third party list do let us know.

March 30, 2020
6:55 am
semi-retired
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Just checked my BMO investorline account.As of Mar/30 you can purchase a VanCity 1 year GIC for the rate of 1.5 %.I wonder how much BMO makes on selling these ??

March 30, 2020
7:52 am
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semi-retired said
Just checked my BMO investorline account.As of Mar/30 you can purchase a VanCity 1 year GIC for the rate of 1.5 %.I wonder how much BMO makes on selling these ??  

It is usually .25%. I assume the offer is maybe only direct from Vancity.

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