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Hubert Happy Savings, new Manitoba CU at 2.25%
November 16, 2010
5:27 am
NorthernRaven
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There's another Manitoba entrant in the online account sweepstakes. Sunova Credit Union has created the Hubert online division, which is offering 2.25% on the Happy Savings accounts.

November 16, 2010
12:29 pm
Stan
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With no chequing, and $2.50 service charge per withdrawal, Hubert isn't a particularly attractive option.

November 17, 2010
4:49 am
J Ryan
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Stan said:
With no chequing, and $2.50 service charge per withdrawal, Hubert isn't a particularly attractive option.


Re: Hubert/Happy Savings, I have tried several times using different browsers to open account. The app crashed each time. Then they said it was fixed. Same error. How can you trust with your money if can't run a site!
November 17, 2010
7:54 am
VFoster
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November 17, 2010
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My name is Vanessa and I am the Director of Marketing for Hubert and Sunova Credit Union. I'm very sorry to hear you've had an issue applying for Hubert Financial. I met with our IT Department this morning and based on the testing we've completed, we're not aware of any system errors on our end at this point. However, we'd love to hear from anyone who may have any problems with our sign-up process in case there is an issue with a particular browser we're not aware of. Please feel free to call us toll-free at 1-855-4HUBERT or use our secure chat on happysavings.ca.

Vanessa Foster
Director, Marketing
Hubert Financial

November 17, 2010
8:14 am
Prag
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Vanessa, I notice when loading the happysavings.ca site it takes 9X longer than other competitor financial websites such as canadiandirectfinancial.com or ally.ca which each load within one second.

Every page at happysavings.ca takes almost ten seconds to load. I am on a fast corporate network where websites normally load very fast. Perhaps the Flash animation on your pages is too large (can the file size be made smaller by your graphics team?), or something else in the code is causing them to take too long to load, even if there's nothing technically wrong or "broken" with the code.

Perhaps the server is too slow, but I've found that Flash animation or excess javascript on a page is usually the culprit behind slowness of a site loading.

The pages should be loading much faster than they currently do for such a simple site.

November 17, 2010
5:46 pm
stylintheo
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Stan said:

With no chequing, and $2.50 service charge per withdrawal, Hubert isn't a particularly attractive option.


where are you getting the fees from?
I cant find it on the website...
so no free withdrawal per month?
I am with AF now with 2.2
I would switch for 2.3

November 18, 2010
6:17 am
Simon
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stylintheo said:
where are you getting the fees from?
I cant find it on the website...
so no free withdrawal per month?
I am with AF now with 2.2
I would switch for 2.3


https://www.happysavings.ca/high-interest-savings.aspx

Looks attractive but that pesky fee is enough to make me look away.
They should at least offer one free withdrawal per month.

November 18, 2010
8:02 am
mike
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I like this:

"With Hubert, every penny of your deposits are 100% guaranteed without limit by the Credit Union Deposit Guarantee Corporation of Manitoba regardless of where you live in Canada. As a member you can rest easy knowing that no matter what happens in the economy, your investments are safe and secure with Hubert Financial."

Way to go Sunova Credit Union for raising the bar!!

Have a great day

November 18, 2010
3:41 pm
stylintheo
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how are they raising the bar?
it takes 2-6 days to see your deposits,
at AF I use the acculink network and am paid from the day i go to the machine,
none of this when they receive the funds from my bank,
why cant you use the acculink network with this account as well?
maybe nessa can answer

November 18, 2010
6:37 pm
Doug
British Columbia, Canada
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stylintheo, I think mike was being sarcastic. Correct, mike?

Cheers,
Doug

November 19, 2010
12:38 am
mike
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Ah, that's the problem with type, it's hard to get some things across well.

I should have added:

Way to go Sunova Credit Union for raising the bar "for trumping all other bank interest rates".

Not about the fees or delay, etc. Sorry my bad.

Have a great day

November 20, 2010
12:08 pm
paul
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it is true that the 2.25% is the best right now but the $2.50 fee for taking money out of your account is too much. The big banks charge $1.50 for using another atm and private atm,s charge $1.50-$2.00. so yes the interest may be the highest in the country but so is the fees. unlike ally and ing which it is free.

November 20, 2010
1:07 pm
Doug
British Columbia, Canada
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I agree with you, mike. Until Hubert Happy Savings adopts a competitive fee structure (i.e., at least 1-2 free debits per month), I won't be opening an account even if their rate was 3%. I'll stick with Ally - so far no competitor as emerged to them that offers: super fast customer service response times, high interest rates, no fees, little to no EFT hold times and superior online banking. They may be 1/10th of one percentage point lower than Peoples Trust but consider Peoples Trust doesn't even offer online banking - they are operating in the proverbial stone ages! And, Peoples Trust's explanation that online banking is expensive to operate and that's how they pay the higher rates is the most asinine statement I've ever heard - they don't operate any branches and besides these branchless-banks all said not operating branches and offering online banking only were the reasons for the higher rates!! Besides which, how come the Manitoba credit unions Sunova and Crosstown Civic can offer online banking and pay higher rates than even Peoples Trust?

Something's fishy with People's Trust and I would be very leery to park even $1.00 with them...I think they could be the next CDIC member institution failure. 🙁

Cheers,
Doug

November 20, 2010
1:58 pm
stylintheo
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anyone bank with these guys yet?
I would change for 3%, its not so much as the 2.5 fee
as it is the 2-6 days to receive ur money,and the chequing that they dont offer.
and to doug Accelerate offers all the same things ally does
and pays 2.2%
and all ur funds are covered, they are even better then peoples trust, I loved peoples trust when I used them. and I will use PT again for TFSA in JAN.
But am happy I switched to Accelerate. to get the 0.10% more.
this Hurbert would be ok, if you have $200,000.00 at least.

November 22, 2010
12:41 pm
Stan
Toronto
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>>but consider Peoples Trust doesn't even offer online banking -- they are operating in the proverbial stone ages! And, Peoples Trust's explanation that online banking is expensive to operate and that's how they pay the higher rates is the most asinine statement I've ever heard -- they don't operate any branches and besides these branchless-banks all said not operating branches and offering online banking only were the reasons for the higher rates!!

I really don't understand your problem with Peoples. I have dealt with them for a number of years now, and am quite satisfied with their service, rates, etal.

What do you need online banking for anyway?? They send you a statement every month, so you are always up to date with what's going on with your account. We have our chequing accounts with the local Toronto Dominion. If I ever need more cash in my account, what could be simpler than just writing a cheque on your Peoples' account, and having instant cash and chequing in your chequing account!!?? I am very fond of paper trails, and prefer to do all my banking this way.

November 22, 2010
6:11 pm
Doug
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It's the fact they're lying to you, Stan, saying they can't afford to offer online banking. It's cheap. They could do what Canadian Western Bank has done and outsource it to MemberDirect like all the credit unions do as well.

Banking is multi-channel: in person, online, by phone, by mail or by ATM. We tried to get people to do telephone and then online banking. They did. Now, people have to expect access to their money anytime and banks are even extending their branch hours since people have grown to like banking online, that they feel let down when the branch isn't open. It's kind of an interesting juxtaposition.

By limiting the access to my money (and believe me, I like cheques), you're taking something away. People's Trust is just too backwards for my liking.

Cheers,
Doug

November 23, 2010
10:15 pm
Online Banker
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J Ryan said:

Stan said:

With no chequing, and $2.50 service charge per withdrawal, Hubert isn't a particularly attractive option.


Re: Hubert/Happy Savings, I have tried several times using different browsers to open account. The app crashed each time. Then they said it was fixed. Same error. How can you trust with your money if can't run a site...


If you have $30,000 in your savings account, .1% interest equals $2.50 per month. So if you have over $30K and do 1 or less withdrawls per month it is worth an extra .1% interest.

Incidentally I e-mailed Hubert/Happy Savings and they do provide the ability to transfer funds electronically through online banking to your own financial institution. I don't know if there is a delay but would assume it is also subject to the $2.50 charge.

Has anyone looked at Acheiva Financial (www.achieva.mb.ca)? Also a Manitoba Credit Union (Cambrian) and their savings rate is 2%. They offer one free cheque per month too.

November 24, 2010
2:23 pm
Brig
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Not so happy in Saskatchewan.
Check out this post on Sunova.
Is this where you want to be putting your nest egg?
http://www.leaderpost.com/Suno.....story.html

November 24, 2010
2:52 pm
NorthernRaven
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The full announcement from the Sask regulator is at http://www.sfsc.gov.sk.ca/fina.....202010.pdf

Looks like someone was sloppy! Either they have to register with Sask, or do some rewording to get rid of "Bank" and add "of Manitoba" to their CUDGC references, or the Saskatchewan position is that none of the Manitoba CUs should be accepting deposits.

By the way, conspiracy theorists will enjoy one of the regulator's demands: "provide me with an itemized list of all Saskatchewan consumers who have made deposits, including detail as to the amount on deposit."

[Later] - looks like they've already started to work on this - their website mentions the kerfuffle, and instead of saying they are Canada's "newest and happiest bank", they are now the newest and happiest "site" for online savings.

November 25, 2010
4:59 am
mike
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NorthernRaven said:By the way, conspiracy theorists will enjoy one of the regulator's demands: "provide me with an itemized list of all Saskatchewan consumers who have made deposits, including detail as to the amount on deposit."


Well, thats a little worrisome there. I can understand how the US and UK are going out for all overseas bank accounts to collect interest taxes and Canada is thinking of doing that as well, but this is WITHIN Canada. What does it matter if you have your money deposited in Alberta or Sask or Manitoba?

Things that makes you go hummm.... I wonder if they are going to start a "money import tax" when you take money from one prov' to another?

Have a great day

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