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Hubert - Less than Personal?
January 13, 2015
11:38 am
kanaka
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I have a few GICs with Hubert. While they have good rates I find the following to put myself "sitting on the fence" to do more with them.

When you email them they sign the reply as Hubert (no other bank or CU does this)
They don't offer the ability to look at your account using a range of dates
They don't send you an email when your statement is ready
Their input for GICs is awkward

I need to spread some RRSP money around to keep under 100,000 and would consider them with their upcoming RRSP GICs.

What does everyone else think about Hubert?

January 13, 2015
12:24 pm
Loonie
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I find the lack of human signature annoying too. On the other hand, they are thousands of miles from me and I am not looking for a buddy. The email is theirs and they are accountable for its contents.
I was able to open GICs over the phone with them. Not sure how universally applicable that might be, but I recommend phone contact if you have issues. They will walk you through stuff.

Minor inconveniences for better returns. I can deal with that.

I like the fact that they seem more security-oriented than some. You get a confirmation email every time you log in and you have to change your password regularly. Their security questions are not as sophisticated as I think they ideally should be, but better than some.

In the end, I would go with an institution that appears to have better security, or at least has put more effort into it. That's way more important than conveniences, to me.

I am waiting to see what their opening offer is with RRSPs. Maybe some deals on rates?

January 13, 2015
2:27 pm
kanaka
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Just went for a walk in the cool fresh air. Not as grumpy!!

I don't want a friend either. But a personal banking relationship should include names. I am beginning to think they may have a robot type of system to respond or a copy a paste.

The security thing with emailing you might be because their security is not that good and they know it...and the email is a patch. You have to look at every angle and wonder why something is so different.

I was GUNG HO to reallocate all TFSA GICs to them and consider RRSP when it kicks in but there are a few nagging issues with them that should be in place as a common courtesy.

January 13, 2015
3:45 pm
Loonie
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Any financial institution that is totally confident of their security system is dreaming in Technicolor. They are ALL vulnerable. It may be that Hubert is more humble in this regard. I doubt that any of US have much of an idea as to which ones are better protected.

It may be that the lack of signature is a deal-breaker for you.

However, now that you're feeling less "grumpy", perhaps happysavings.casf-smile is for you after all!

For TFSAs, have you looked into CFF Bank? They have outlets in your general area. I am NOT recommending them. Just wondered, as they have very high TFSA GICs. Nobody seems to know much about them.

January 13, 2015
4:17 pm
kanaka
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Loonie said

Any financial institution that is totally confident of their security system is dreaming in Technicolor. They are ALL vulnerable. It may be that Hubert is more humble in this regard. I doubt that any of US have much of an idea as to which ones are better protected.

It may be that the lack of signature is a deal-breaker for you.

However, now that you're feeling less "grumpy", perhaps happysavings.casf-smile is for you after all!

For TFSAs, have you looked into CFF Bank? They have outlets in your general area. I am NOT recommending them. Just wondered, as they have very high TFSA GICs. Nobody seems to know much about them.

ha ha....but in thinking a bit more about Hubert if they email you every-time you log on why not an email to say your statement is ready. They are not looking at it from our point of view. We all have this and that coming at us and if we have everything sent to one email for statements and bills and if I was out of commission or gone....bingo there it all is!!! Ready for me or my predecessor. It is bad enough that some only provide a statement every 3 or 6 months but there HAS TO BE a law that says for all online statements the business MUST notify the client of its readiness.

Looks like CFF is part of Dominion Lending......hmmmm.....

January 13, 2015
6:53 pm
Loonie
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I dunno, but I don't have a problem with Hubert's statements. I don't expect them to email me about it. Everything I need seems to be there when I log in.
I print them out periodically, so anyone who needs to know can find the info.
What am I missing?

January 13, 2015
6:59 pm
kanaka
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It is just plain not right!!! If you go paperless there has to be a notification to the customer. What if you died unexpectedly? Especially for the sloppy and undocumented investor.

January 13, 2015
7:23 pm
Loonie
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Seems to me that it's up to the customer to keep track of their finances and have them organized for the eventuality of death, so that executor can find the info. It would be nice if a statement arrived regularly of its own accord, but not essential, from my perspective. I'd rather they put their money into paying more interest!
As DIYers, we have to do the tracking ourselves, seems to me.

In any event, sounds like Hubie is not your kind of guy!

What do you know about Dominion Lending, if anything? I never heard of it, but, then, I never borrow, so why would I?

January 13, 2015
7:32 pm
kanaka
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Dominion lending is a mortgage broker that is apparently national. They often steal/attract bank and credit Union lenders to work for them. Don Cherry is their paid spokesman. From what little I know about mortgage brokers, not all mortgages are the same......and if you want a peculiar one that might let you down...go to a broker. There is something sleazy about brokers.

January 13, 2015
7:56 pm
Loonie
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Strange way to run a bank!

January 13, 2015
9:06 pm
Yatti420
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I like Hubert.. The site is bare bones but functional.. I don't really care about statements.. I can't remember if I've called them before but I bet I would get a person faster then TD etc.. As for live chat that is about as personal as it gets.. Can get info and access etc very quickly..

If you want the truly personalized service you'd want to check out Sunova (Hubert is an online division).. They have dogs in their branches.. Personalized human drive-thru.. Crazy tube system for cash drive thru etc.. 247 safety deposit box access.. Change sort machines.. Open banking concept (no tellers) you see what the rep sees..

I like it and definitely a different concept.. Hubert has a cheaper initial cost (5$ share vs [5]25$ shares) with no ongoing purchase requirements or minimums.

January 14, 2015
7:19 am
kanaka
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Thanks for your input. I guess Hubert is not for me.

January 14, 2015
9:23 am
JustMe
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Accelerate has better GIC on 2,3,4 years then Hubby. No need to spread wide. All deposits are 100% guaranteed up to unlimited amount. Why bother with 50 different banks when you can do with one.

January 14, 2015
10:24 am
bb123
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All the various Manitoba CU's are good options but they do all excel in different areas. I deal with Implicity and am very happy with them. They have always been at the top of Market on GIC rates as well as their TFSA & HISA accounts at 2%. Their GIC rates are currently the equal to or better than the top rates offered except for Hubert's 5 Year rate which is 15 basis points above the rest. But Hubert's shorter terms (2 & 3 years) are as much as 16 basis points less than the rest.
I also like Implicity due to their no fee services, Me-to-me transfer ability, ATM access, etc. There seems to be more options for me when I need some money. I haven't needed their service centre much but when I do they are excellent. And they don't play games with significant rate specials that revert to ridiculously low rates after the special (Tangerine/ PCF. etc.). I can count on them always offering a fair and consistent top of market rate. I think the same can be said (no bait and hook strategies) for most of the MB CU's (Accelerate, Achieva, Outlook). The only down side is they do not offer RRSP's. sf-frown

March 22, 2015
4:18 pm
JustMe
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My GIC at Accelerate will mature in first half of April 2015 so I would like to buy another 1year GIC.
Hubert has the highest interests plus it is redeemable every 3 months (promo offer).
Questions for those having accounts at Hubert:
- Do they have internet banking?
-- Can I transfer money to/from in a similar fashion as with Peoples Trust or I have to have chequing account with them, use cheques for withdrawal and special credit union banking machines for deposit as I have to do now with Accelerate?
- Can I have ONLY GIC or I have to open chequing/saving?

Any other advice, opinion...

I will chat with them tomorrow and find out but I value very much opinion of people from this board!

March 22, 2015
4:50 pm
kanaka
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Questions for those having accounts at Hubert:
- Do they have internet banking? --YES....NOT SURE IF YOU CAN PAY BILLS THOUGH

-- Can I transfer money to/from in a similar fashion as with Peoples Trust --YES

or I have to have chequing account with them, --NOT SURE BUT YOU CAN TRANSFER RIGHT INTO A GIC

use cheques for withdrawal and special credit union banking machines for deposit as I have to do now with Accelerate? THEY HAVE NO CHEQUES OR ATM CARDS.....PUSH/PULL ONLY...BUT I IMAGINE YOU CAN MAIL THEM A CHEQUE TO DEPOSIT

- Can I have ONLY GIC or I have to open chequing/saving? -- NOT SURE BUT WHY NOT...IT IS FREE AND YOU CAN DIRECT OR PARK THE MATURED GIC INTO THE SAVINGS ACCOUNT UNTIL YOU DECIDED HOW TO RE-INVEST OR ....

March 22, 2015
5:33 pm
Norman1
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JustMe said
My GIC at Accelerate will mature in first half of April 2015 so I would like to buy another 1year GIC.
Hubert has the highest interests plus it is redeemable every 3 months (promo offer).
Questions for those having accounts at Hubert:
- Do they have internet banking?

Hubert Financial does offer Internet access to one's accounts. But, it is not the full Internet banking that one can get with, for example the Big 5 banks. There's no bill payment. No Interac e-Transfer.

-- Can I transfer money to/from in a similar fashion as with Peoples Trust or I have to have chequing account with them, use cheques for withdrawal and special credit union banking machines for deposit as I have to do now with Accelerate?

Hubert does not offer a chequing account. Only savings account and term deposits as unregistered, RRSP, or TFSA.

One can use their web site to pull money into accounts and push money out of their savings account.

- Can I have ONLY GIC or I have to open chequing/saving?

Any other advice, opinion...

I will chat with them tomorrow and find out but I value very much opinion of people from this board!

I don't know if it is possible to just have term deposits. I know it is possible to have a savings account without any term deposits.

Some people have asked and found that their special one-year term is cashable anytime. But, one will not be paid any interest for the period between the last three-month interest payment date and the date one redeems early.

March 24, 2015
2:39 pm
kanaka
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JustMe said

My GIC at Accelerate will mature in first half of April 2015 so I would like to buy another 1year GIC.
Hubert has the highest interests plus it is redeemable every 3 months (promo offer).
Questions for those having accounts at Hubert:
- Do they have internet banking?
-- Can I transfer money to/from in a similar fashion as with Peoples Trust or I have to have chequing account with them, use cheques for withdrawal and special credit union banking machines for deposit as I have to do now with Accelerate?
- Can I have ONLY GIC or I have to open chequing/saving?

Any other advice, opinion...

I will chat with them tomorrow and find out but I value very much opinion of people from this board!

Hi, how did you do? Any decisions?

March 24, 2015
4:56 pm
JustMe
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Thank you for asking. I mailed application and cheque to set up account. They open account as soon as receive application and I expect that to be on Friday 27.03.
Now it is race against time; if they still have 1 year GIC promo next Monday rep promised to keep rate for me if it goes down before I move $.
If not, I might still move some $ at their saving is the same as Accelerate... not to have everything at one institution.

March 24, 2015
5:06 pm
kanaka
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JustMe said

Thank you for asking. I mailed application and cheque to set up account. They open account as soon as receive application and I expect that to be on Friday 27.03.
Now it is race against time; if they still have 1 year GIC promo next Monday rep promised to keep rate for me if it goes down before I move $.
If not, I might still move some $ at their saving is the same as Accelerate... not to have everything at one institution.

I think you will get the rate. I usually email and get the commitment in black and white. I moved a large sum of funds to an RRSP account from another credit union. I already had an account with them. They asked me to set up an RRSP account and start the GIC which I did. I couriered the account info to them. It took sooooo long, it seemed, for other credit union to send the the funds but it all worked out and I got the 2.95% rate.

Oaken also did the same for me...held the rate.

Did both at the same time....no rate changes with Hubert but two changes with Oaken. Both are a pleasure to deal with.

Good idea to not keep all your eggs in one basket. I try to put no more than 90,000 including interest at maturity in any account type. But will cause extra work for me to manage RRIF funds.

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