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Welcome Moya Slovenian CU
October 12, 2019
9:18 pm
Bud
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October 13, 2019
3:01 am
Loonie
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located in Etobicoke (west Toronto).
Posted rates seem unremarkable. Why are you pushing this one, Bud?

October 13, 2019
8:34 am
Bud
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Saw a flyer they present nicely and have been to Slovenia

October 13, 2019
9:36 am
Dean
Slocan Valley, West Kootenays, BC.
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Bud said

https://www.moyafinancial.ca
how bout a deal  

Sorry, but I don't really see any 'deals' there, worth mentioning.

Moya Financial rates ➡ https://www.moyafinancial.ca/rates/

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

October 13, 2019
10:08 am
AltaRed
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It is a tiny boutique entity that is marginal in size. Always look at the financials.

https://www.moyafinancial.ca/wp-content/uploads/MF_Audited-Financial-Statements-2018.pdf

October 13, 2019
1:18 pm
Bud
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240mill assets we've discussed smaller
Currently they're offering a $50 grocery card for new applicants. Perhaps a bump up

October 13, 2019
2:26 pm
AltaRed
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October 13, 2019
5:30 pm
Bud
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Dico covered up to 250k.

Would you rather be holding a gic in a quarter billion asset FI bailout or 10bill

October 13, 2019
7:36 pm
Loonie
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I'm fine with small. Small is beautiful!
The very best GIC deals I've ever gotten or been aware of have tended to be with small credit unions. And they have all paid up so far.

When I look at Meridian, the largest CU in Ontario, I see my money being poured into setting up a dysfunctional bank and sponsorships for major concert venues that I am unlikely to attend.

If I see a great rate at a CU, I will take it. But I don't see any great rates at this one.

October 13, 2019
8:20 pm
Bud
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Merid has some decent deals from time to time and they r willing to bend sometimes. For example, locking in a rate up to a month in advance.

October 13, 2019
9:34 pm
Jon
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I think what Bud try to say is you can get 200 dollars when you register with them and set up direct deposit.

However, it only work if you don't have membership in any Ontario credit union. So this may not apply to most of us.

P.S: Bud, can you give out more detail from the first place,it is difficult to figure out what you mean.

October 14, 2019
1:28 am
Loonie
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Thanks for the details, Jon. I had not seen that page.
I wonder how they would know if you belonged to another Ontario CU. That information ought to be private unless you choose to reveal it.

October 14, 2019
8:23 am
Norman1
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The $200 new member offer is actually run by the Canadian Credit Union Association. There's also a $50 referral offer.

The full terms and conditions of the Get Your Share promotions, with a list of participating BC and Ontario credit unions, are at Terms and Conditions.

October 14, 2019
8:37 am
Doug
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Norman1 said
The $200 new member offer is actually run by the Canadian Credit Union Association. There's also a $50 referral offer.

The full terms and conditions of the Get Your Share promotions, with a list of participating BC and Ontario credit unions, are at Terms and Conditions.  

Yes, it was previously run by Central 1 Credit Union from April 2013 until January of this year when the marketing programs and certain other ancillary operations of Central 1 were transferred to the CCUA. As such, if you are a B.C. credit union member, or indeed any credit union member who has received an award under the offer (typically, $200-300), you will not be eligible for this offer. The awards are paid, typically, 2-3 months after account opening by external direct deposit by Central 1/CCUA.

Sometimes, individual credit unions will also offer their own programs that typically make ineligible previous members in the past 12-24 months.

Cheers,
Doug

October 14, 2019
8:38 am
Doug
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Loonie said
Thanks for the details, Jon. I had not seen that page.
I wonder how they would know if you belonged to another Ontario CU. That information ought to be private unless you choose to reveal it.  

They know because the program is administered through Get Your Share. You have to submit your information to that program in order to get the award. You might be a member of another credit union and still be eligible for the offer, so long as you've never received a payout from Central 1 Credit Union between April 2013 and December 2018 or by Canadian Credit Union Association from January 2019 to present.

Cheers,
Doug

October 14, 2019
8:42 am
Doug
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Jon said

However, it only work if you don't have membership in any Ontario credit union. So this may not apply to most of us.

P.S: Bud, can you give out more detail from the first place,it is difficult to figure out what you mean.  

Your first point, Jon, as Norman and I pointed out, isn't quite right. You can technically be another credit union member, but the key is that you must not, since April 2013 to present, have received an award/bonus offer for becoming a new member under the Get Your Share program. If you have, then you're ineligible. If you haven't, then you're eligible.

Cheers,
Doug

October 14, 2019
8:45 am
Doug
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AltaRed said
It doesn't remotely enter the top 100 by a wide margin

https://www.ccua.com/~/media/CCUA/About/facts_and_figures/documents/Largest%20100%20Credit%20Unions/top100-2Q19_30-sep-19.pdf  

Come this time next year, I suspect they will be AltaRed as CCUA has to scramble to find 25 new credit unions or CPs to add to their Top 100 list. With more than two dozen credit unions set to disappear through mergers closing on or shortly after January 1, 2020, the "bar" for inclusion will be that much lower (I expect the new threshold for inclusion will be about $175-200 million. 🙂

Cheers,
Doug

October 14, 2019
9:47 am
Dean
Slocan Valley, West Kootenays, BC.
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Doug said

Come this time next year, I suspect they will be AltaRed as CCUA has to scramble to find 25 new credit unions or CPs to add to their Top 100 list. With more than two dozen credit unions set to disappear through mergers closing on or shortly after January 1, 2020, the "bar" for inclusion will be that much lower (I expect the new threshold for inclusion will be about $175-200 million. 🙂

Cheers,
Doug  

Well put, Doug ⬆

But with so many Canadian CU's merging together (completed, or in the process), the CCUA might want to consider abandoning their 'Top 100' list, and replacing it with, say a 'Top 50' list. That would seem to make a lot more sense, for nowadays.

As an example from my little corner of the country (West Kootenays, BC), the Six local CU's in our area are in the process of joining together into one regional CU. For better or worse, the days of the small/boutique CU's are fast fading.

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

October 14, 2019
1:01 pm
AltaRed
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It makes sense for the small boutique CUs to disappear or consolidate. Too many of the operating costs are independent of the balance sheet, resulting in margin compression. Go big or go out of business.

October 14, 2019
1:59 pm
Doug
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Dean said

Well put, Doug ⬆

But with so many Canadian CU's merging together (completed, or in the process), the CCUA might want to consider abandoning their 'Top 100' list, and replacing it with, say a 'Top 50' list. That would seem to make a lot more sense, for nowadays.

As an example from my little corner of the country (West Kootenays, BC), the Six local CU's in our area are in the process of joining together into one regional CU. For better or worse, the days of the small/boutique CU's are fast fading.  

Thanks, Dean. I didn't know, or had forgotten, you were in the West Kootenays. Which town, by chance? Castlegar, Nelson, Trail, Kaslo, New Denver, or Salmo? (I've probably missed a few whistle stop towns, but those are the "key" ones--to the extent "New Denver" and "Salmo" are "key"!)

Interestingly, those six credit unions (some of which, admittedly, aren't in the top 100 due to their small size) I've written about here. Glad to hear you're looking forward to it. I don't expect any branch closures as a result of the merger (I think there would have been if they'd been absorbed by an Interior Savings or First West), with the exception of Castlegar where I expect one of the Kootenay Savings or the Heritage Savings branch to close (suspect one of the Kootenay Savings branches) as a town that size won't need three credit union branches. I am glad they went the route of a six-way merger of (almost) equals, consolidating into a single credit union with one banking system. As it stands, First West and Connect First use the multi-brand model so, while they're one credit union, members of the Valley First region can't transact at an Envision Financial or Island Savings branch.

CCUA might reduce it to a top 50 list, but I hope they don't, if they're worth their salt. 🙁

AltaRed said
It makes sense for the small boutique CUs to disappear or consolidate. Too many of the operating costs are independent of the balance sheet, resulting in margin compression. Go big or go out of business.  

Absolutely! 100% agreement from me, AltaRed.

Just realized, you, Dean, and I (and toto) are the Southern Interior British Columbia cohort on these forums.

Cheers,
Doug

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