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Integration weekend: Sep 22-24, we've been warned!
April 1, 2024
12:57 pm
Dougal
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Sorry to resurrect this thread, but has anyone had any problems with Access' T5 slips this year? We've been issued a T5 that is for a jointly held GIC, but the T5 has been issued in my name only. Hubert never made this mistake in the previous 3 years' T5 slips for that GIC. How does such an error even happen if the data was properly migrated from Hubert to Access?

April 1, 2024
1:23 pm
Case1030
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Dougal said
has anyone had any problems with Access' T5 slips this year?  

Not necessarily a "problem" for us but certainly a discrepancy. We each received a T5 for the joint accounts associated with our individual SIN (Box 22). Box 23 correctly coded as "2".

But for some unknown reason, the wife got an additional T5, but Box 23 was coded as "1". Yet when perusing our accounts online, all of them show up in each other's list as joint accounts.

April 1, 2024
1:54 pm
MDJ
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I received a T5 in my name only. All of our non registered accounts (Accelerate and Hubert) are joint. I called, they said they would get back to me, they did not, I proceeded with our taxes and did not split it. Was not on CRA either. Not sure if it said 1 or 2.

EDIT: We received 2 T5s from Access. One with both names and one with my name only.

April 1, 2024
3:33 pm
CAD
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That is a known issue with 2023 T5.
Some joint T5 are printed with ONE name only. Hubert support will tell you that AS SOON as you mention T5 error. They are 'working on it' and we should receive correct T5 by 'the end of March'. They did not mention which year...
OK, today canpost is off so lets see tomorrow.

That could be a problem for some but they made much BIGGER error with T5.
My GIC (1y, quarterly) had payout option on Feb 1. On Feb 2 Hubert changed interest rate (1y, quarterly) to higher.
I redeemed GIC and opened another one. Statement shows 1 day PENALTY of $xx and immediately after, next line - correction.
BUT correction has wording 'Credit Interest'!!!!! Now my T5 shows real 'credit interest' + 'penalty correction Credit Interest'. Amount on T5 is increased by money I did not earn nor money Hubert paid to me.
Still trying to get correct T5. So far 2 calls, all polite (from both sides), email sent with thorough explanation.
It will be nice if I could post screenshot of those lines from statement so you guys can see and better understand this error as my explanation might not be very clear.

April 1, 2024
4:11 pm
MDJ
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That is a known issue with 2023 T5.

You mean with Hubert only I hope?

So if I receive a corrected copy. (For the joint issue only and no correcting of interest dollars.)
I assume I have to do an amendment with CRA?
And have heard that amendments can put you on a list for a CRA audit.

And what’s with the lack of communication with Access? They can email us rate updates but can’t email a heads up on the reissue of a T5?

And when I get it……which one does it replace? As it is very difficult to figure out which one is Accelerate or Hubert especially if the amount changes.

Access is so self centred and arrogant in thinking this way.

I just can’t wait to tell Access/Hubert/Accelerate to take their accounts and shove them “you know where”.

April 4, 2024
8:14 pm
BK
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Is anyone planning on attending the Access/Hubert virtual general meeting to voice our concerns?
https://accesscu.ca/en/annual-general-meeting

April 4, 2024
8:52 pm
everhopeful
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They wont listen to our concerns during this meeting... it will be just a few big wigs expressing how awesome the amalgamations have went, and their vision for the future . That future doesn't include good 'ol (ailing) Hubert, who will probably be taken out back and put down for good in the next couple of years... those who remain will be shifted to Access proper.

I hope I am VERY wrong on this. If they can bring back Sunova's interface and keep competitive rates , I will happily shift some funds back into the GICs... the quarterly redeemables are an unmatched product in the marketplace.

April 5, 2024
9:23 am
monitor
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everhopeful
I hope you are wrong to, but look what Access CU is doing now.

Well, it looks like what several Hubert members had already
speculated might happen is happening.
On March 27, 2024 the One-Year Quarterly Term GIC was 5.20%
Effective April 05, 2024 it has now been reduced to 4.90%.
It appears, Access CU is going to make the One-Year Quarterly Term GIC
interest rates so low no one will want to invest with them,
giving Access CU the excuse to stop making them available.
Only time will tell.

April 5, 2024
5:56 pm
MDJ
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Surprise surprise.

Screenshot-2024-04-05-at-5.55.24 PM.png

April 6, 2024
11:40 am
MDJ
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CAD said
That is a known issue with 2023 T5.
Some joint T5 are printed with ONE name only. Hubert support will tell you that AS SOON as you mention T5 error. They are 'working on it' and we should receive correct T5 by 'the end of March'. They did not mention which year...
OK, today canpost is off so lets see tomorrow.

That could be a problem for some but they made much BIGGER error with T5.
My GIC (1y, quarterly) had payout option on Feb 1. On Feb 2 Hubert changed interest rate (1y, quarterly) to higher.
I redeemed GIC and opened another one. Statement shows 1 day PENALTY of $xx and immediately after, next line - correction.
BUT correction has wording 'Credit Interest'!!!!! Now my T5 shows real 'credit interest' + 'penalty correction Credit Interest'. Amount on T5 is increased by money I did not earn nor money Hubert paid to me.
Still trying to get correct T5. So far 2 calls, all polite (from both sides), email sent with thorough explanation.
It will be nice if I could post screenshot of those lines from statement so you guys can see and better understand this error as my explanation might not be very clear.  

As mentioned in another thread, Access T5's now show in CRA. Mine also now show in CRA and are dated April 3. I would assume that those should have shown on the dead line of last day of February? Never the less one is for joint and the other is for me only. So am I still waiting for correct ones in that mall as well?? ( as we only have joint non- registered accounts at Access)

April 7, 2024
6:43 am
canadian.100
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Could someone update me on the issue with the Hubert Membership Share. I note it disappeared from my account. I moved all funds out of Hubert/Access end of 2023 - but I did not close the account. So have I lost my Hubert Membership share? I sent them an email but they never did respond.

April 7, 2024
7:47 am
MDJ
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canadian.100 said
Could someone update me on the issue with the Hubert Membership Share. I note it disappeared from my account. I moved all funds out of Hubert/Access end of 2023 - but I did not close the account. So have I lost my Hubert Membership share? I sent them an email but they never did respond.  

I get it. If they owe you $5, they should give it back if you leave.

I have had 4 different FIs in Manitoba. Now down to one Access/Hubert/Accelerate. Some put $5 x 2 in for me and some I paid the $5 membership x 2. I haven’t checked Hubert for those fees as technically we should have $10 x 2 showing, as my Accelerate accounts merged.

So if you were a Hubert customer only, did you pay the $5 or did they put it in for you? Either way it should still show. The question is where is it, and will you get $5 back if they put it in for you? Their systems and policies are some what unpredictable. Personally I don’t care about the $10 x 2. I just want the heck out of Hubert ASAP. I doubt if Hubert will fall as they still have 2 more virtual FIs to merge into them.

April 7, 2024
7:51 am
cgouimet
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canadian.100 said
Could someone update me on the issue with the Hubert Membership Share. I note it disappeared from my account. I moved all funds out of Hubert/Access end of 2023 - but I did not close the account. So have I lost my Hubert Membership share? I sent them an email but they never did respond.  

Mine $5 is gone too but I haven't bothered chasing after them, yet. I plan to raise it with them if I need to call them for something else.

CGO
April 7, 2024
8:02 am
MDJ
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Just checked mine x 2.

Both Say.
Common Share
Current balance
$5.00
Available balance
$5.00

Where is my 5 bucks x 2 from Accelerate?

Although checking old statements from Accelerate the $5 x 2 does not show either.

April 7, 2024
8:48 am
canadian.100
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MDJ said

I get it. If they owe you $5, they should give it back if you leave.

So if you were a Hubert customer only, did you pay the $5 or did they put it in for you? Either way it should still show. The question is where is it, and will you get $5 back if they put it in for you? Their systems and policies are some what unpredictable.   

I paid the $5 originally when I started with Hubert. They did not put it in for me.
Guess I will just forget about the $5 for now. If they eventually close my account, as it may be deemed "inactive", then perhaps I will ask for my $5 back.

April 7, 2024
9:14 am
Dean
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.
'Yes' ➡ If you decide to officially leave the 'new' Hubert (as we know ... many are), they Will give you your $5 Share back. But you have to call-in to a Hubert CSR to initiate the refund.

I'll be getting my $5 Share back, after my last Hubert GIC matures later this year.

R.I.P. 'old' Hubert Financial sf-cry

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

April 7, 2024
9:39 am
Rail Baron
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Dean said
.
'Yes' ➡ If you decide to officially leave the 'new' Hubert (as we know ... many are), they Will give you your $5 Share back. But you have to call-in to a Hubert CSR to initiate the refund.

I'll be getting my $5 Share back, after my last Hubert GIC matures later this year.

R.I.P. 'old' Hubert Financial sf-cry

    Dean

  

I placed some RRSP funds in a 5 year term deposit (@5.1%) before the old Hubert went away.

That means it will be 2027 before I redeem my membership share, if the fates allow.

April 7, 2024
10:19 am
CAD
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Dean said
.
I'll be getting my $5 Share back, after my last Hubert GIC matures later this year.

R.I.P. 'old' Hubert Financial sf-cry

    Dean

  

That will mean you will Close all your Hubert accounts, correct?

April 7, 2024
11:00 am
Dean
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.
Correctamundo

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

April 7, 2024
7:56 pm
MDJ
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canadian.100 said

I paid the $5 originally when I started with Hubert. They did not put it in for me.
Guess I will just forget about the $5 for now. If they eventually close my account, as it may be deemed "inactive", then perhaps I will ask for my $5 back.  

But Hubert does have a system that we don’t have access to, for “some” transactions. Ie a GIC matures on April 10 and the “other” system will show the deposit to my HISA April 10 as well, but I see the deposit in my HISA on April 17. That’s how they confirm their “no loss of interest policy” (by using this other imaginary system?). So just maybe your $5 is on a system you can’t see, but they can. Best thing….ask them.

Is it possible to lose the $5 if your account is inactive or zero balance? I wonder if the old Hubert policy for inactive accounts is still in place or if Access has superseded it?

Membership info.
https://happysavings.ca/faqs/#:~:text=Since%20inactive%20accounts%20are%20not,you%20to%20review%20your%20account.

Inactive accounts.
https://happysavings.ca/faqs/#:~:text=Since%20inactive%20accounts%20are%20not,you%20to%20review%20your%20account.

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