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Why is DUCA GIC rate not in the GIC chart?
March 8, 2019
9:16 am
davidgeorge
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DUCA's rate seems good.
1 Year 2.80%
18 Month 2.80%
2 Year 2.90%
3 Year 3.10%
4 Year 3.00%
5 Year 3.50%
7 Year 3.50%

March 8, 2019
11:27 am
Peter
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It's not on the chart because they are limited to Ontario residents only. Maybe there can be some sort of filter in the future.

March 8, 2019
11:47 am
Doug
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Yeah, I think we should apply the same inclusion criteria for the GIC chart as we do to the HISA and free chequing charts. We can, instead, credit specific forums for a specific financial institution and highlight provincially-limited GIC rate offers, but in terms of the charts, it's got to be available to all of Canada (ex. Quebec), at a minimum, with a notation where Quebec is specifically excluded.

In DUCA's "profile" on this website, do they provide an RSS feed, or could you build a custom RSS feed easily, that you could use to stream GIC rates? That might be another route to go. Not sure if there's a free RSS builder now that Yahoo! Pipes has disappeared. Know any, Peter?

Cheers,
Doug

March 9, 2019
12:27 am
Loonie
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I can appreciate your western perspective, Doug. But your logic suggests that every FI that doesn't serve QC should be excluded I don't agree with that, and I don't imagine you do either.

It seems to me, we all have "short lists" of FIs we are willing to deal with. Our criteria differ. Some FIs exclude themselves from our personal list on the basis of geography (they don't serve us or maybe we don't feel confident about the economy of that province). Others are excluded for poor rates, bad service, etc etc.

To be honest, I find the GIC chart next to useless. I rarely look at it.
The main problem is that it's not comprehensive. It doesn't include all the rates that are relevant to me. This could include odd-month rates, promos, rates only available in Ontario, etc. It effectively excludes most of the best rates. that I can access. Yes, I know the promos can be found but not in the format I want. Yes, the info can be found somewhere on the Forum, but it's not always easy to find. I want them all lined up together in order for it to be useful to me.

I keep my own lists, both a longer one which includes all the rates which could conceivably be relevant; and another short list which includes all the ones I consider "hot".
It requires a fair bit of maintenance. Peter may not want to do that kind of maintenance or may find it unmanageable. As far as I know, there is no site that provides what I really need.

Anyway, I would certainly argue for including GICs from places like DUCA. If Hubert can have an indicator of "N/A QC", then surely DUCA can have one that says "ON only".

One's perspective probably depends on where one lives.

March 9, 2019
10:38 am
Doug
British Columbia, Canada
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Thanks for your reply, Loonie. sf-cool

I should clarify that, ideally, I don't agree with including FIs in the chart that exclude one province, but since Quebec has its own language and consumer protection laws that many FIs simply do not want to get involved with, if we were to exclude them...we'd be excluding fully half the existing HISA comparison chart (if not more). sf-wink

So, that's what I mean when I say, and echo Peter's sentiments, that to be included in the chart, the FI must serve all Canadian provinces and territories, with the possible exception of Quebec for its own, unique laws and regulations. Hope that makes sense? sf-cool

As for the GIC comparison chart, I agree with you in that's quite limited. To be truly comprehensive, it would require a lot more updating and even in its current form, does require a fair bit of maintenance. Personally, if I recall correctly, I didn't think it was necessary for Peter to add, but he wanted to and that's fine.

I do use it occasionally for seeing, roughly speaking, what the top GIC rates are, but I recognize there may be outliers not included in the list.

Cheers,
Doug

March 9, 2019
3:46 pm
Loonie
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The problem is, it's the outliers that we are typically very interested in!!

March 9, 2019
4:43 pm
Briguy
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Interest rates seem to have stabilized, for sure not increasing, so I think I'll invest in HISA's going forward if they are similar in rate to GICs.

March 10, 2019
7:32 am
Koogie
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I find myself looking at the GIC chart all the time.

It is a valuable comparison tool and I am very, very grateful to Peter for creating it.

Including every last little podunk CU from across the country on the chart probably isn't very realistic (unfortunately) from a time and accuracy standpoint.

I do wish the PROMOS page was more prominent though. I forget it is there sometimes and miss out on the occasional deal.

March 10, 2019
8:11 am
gicjunkie
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The GIC chart and the HISA chart are both useful reference tools, but I must agree that most of the great deals are from more local CUs, which may or may not be listed in the Promos section. Currently the Pace CU deal for 3.51% for 3 years is curiously missing from this list as is the Tandia 3.75% for 5 years but who knows how long these deals will last. The Tandia rate is not shown as a "special" on their site.

I have to admit that I don't refer to these charts all the time. It's nice to be aware of the trending rates, but it's only relevant when we have money to (re)invest. Unfortunately we can't pull money out of the air when a special rate appears. I think Peter is doing a great service with this site and hope it continues. He ultimately will not be able to please everyone with the content, nor should he. It's a lot of work as it is and we should appreciate his efforts. We should continue to inform him of any rate changes that we happen to see to make life easier for him.

One more comment re HISAs: No matter how high their rates are, they generally don't match the longer term GIC rates, so "investing" in a HISA long term makes no sense. If one needs the funds to be available, that's another story.

March 10, 2019
9:10 am
Doug
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Koogie said
Including every last little podunk CU from across the country on the chart probably isn't very realistic (unfortunately) from a time and accuracy standpoint.

I agree with you that the GIC chart is very time consuming to reasonably and reliably update with including so many FIs in it, but it's appreciated (and Peter is appreciated for his efforts) in the limited form that exists. 🙂

On the "promos," page, Peter, I see you've now started including a prior year promos page. Is this necessary!? Most of these promo pages have been deleted; all that exists is the forum thread, which is easily searchable via Google Custom Search located on this message board. It just adds to the webpage clutter. I recommend keeping the current, non-expired promos (I like that you've added some sub-headings) and possibly keeping the current year expired promos and an expired promos page from the immediately preceding calendar year. All other expired promo links should be deleted.

Cheers,
Doug

March 10, 2019
9:19 am
JenE
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gicjunkie - your posts always have value and good common sense.

March 10, 2019
9:24 am
Doug
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JenE said
gicjunkie - your posts always have value and good common sense.  

Agreed, especially that last point gicjunkie made. It's something I've tried to say as well, many times, but he/she has done so very concisely. sf-cool

Unless you need the funds within a few months, you should instead look to put your funds into a GIC ladder of some type.

Cheers,
Doug

March 10, 2019
6:24 pm
davidgeorge
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gicjunkie said
...... Tandia 3.75% for 5 years  

Thanks. Good to know there is still 3.75% for 5 year GIC available. Meridian offered 3.75% for 5 year GIC in the beginning of 2019 and DUCA offered 3.75% for 5 year GIC last couple of months, but they were all gone. Oaken decreases its 5 year GIC rate from 3.6% to 3.4% tomorrow. I agree with your comment: "No matter how high their rates are, they generally don't match the longer term GIC rates, so "investing" in a HISA long term makes no sense.".

For Tandia, do we have to go to a branch to open an account? Can we do all fund transfers online?

March 10, 2019
6:43 pm
Koogie
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davidgeorge said
For Tandia, do we have to go to a branch to open an account? Can we do all fund transfers online?  

I had to. Wasn't so bad. A pretty efficient CU with decent customer service.

I bought ours back in January... can't imagine that special will last to much longer.

March 10, 2019
8:13 pm
Peter
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Thanks for the poke about the Tandia and PACE GICs. I've added those to the promos page.

I've moved another batch of the expired ones to the archive page. I like to keep the forum thread link index as a quick way to look up promo trends and promo histories for specific financial institutions.

March 11, 2019
8:48 am
Doug
British Columbia, Canada
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I have no problem with adding province-specific credit union promos to the "promos" page, but we should continue to apply the same HISA inclusion criteria to the "GIC chart." We should, however, create a footnote on the "promos" page indicating that Ontario residency is required to establish a membership with that specific credit union.

One thing I intend to ask DUCA about is why they apparently added an Ontario residency requirement to open a HISA account but if you click on "join now" on their GIC page, they don't specify that requirement? It's bizarre. Ontario CU legislation allows them to solicit new out of province members - they just can't operate bricks & mortar branches outside of Ontario.

Cheers,
Doug

March 11, 2019
11:48 am
Oscar
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Peter , the poke about Pace. You listed it as 3.35%. Their website is still showing 3.51% as previously noted.

March 11, 2019
11:58 am
Peter
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Oscar said
Peter , the poke about Pace. You listed it as 3.35%. Their website is still showing 3.51% as previously noted.  

Really sorry about that! Not sure how I got that mixed up. I've fixed it now.

March 15, 2019
6:33 am
davidgeorge
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Koogie said

I had to. Wasn't so bad. A pretty efficient CU with decent customer service.

I bought ours back in January... can't imagine that special will last to much longer.  

Thanks. I called and was told that I have to visit one of the branches to open the account.

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