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More Rate Increases :-)
July 5, 2022
6:30 pm
Dean
Valhalla Mountains, British Columbia
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.
This just in from Hubert . . .
.

    Rate Update
    .
    Effective Wednesday, July 6, our rates (both registered and non-registered) are changing. In addition, our US savings account rate is also changing.

    Our term rates (effective July 6):

    1-year term - 3.75% average

    2-year term - 4.05%

    3-year term - 4.35%

    4-year term - 4.50%

    5-year term - 4.75%

      Quarterly breakdown of our 1-year term (effective July 6):

      The first three months: 3.60%

      Months four to six: 3.70%

      Months seven to nine: 3.80%

      The last three months: 3.90%

    US dollar savings rate 0.10 %

Except for the US $ SA Rate (which went backwards), all those other new rates constitute significant increases ... and that 1Yr quarterly-cashable GIC is even sweeter now ❗

    Dean

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

July 5, 2022
6:35 pm
blake
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Did Accelerate do same?

July 5, 2022
6:39 pm
Norman1
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Looks like US$ savings money is not wanted.

Rate on their American Dreams US$ savings account will be cut from 0.25% to 0.10%.

July 5, 2022
6:42 pm
canadian.100
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Dean said
Effective tomorrow

    Rate Update
    Effective Wednesday, July 6, our rates (both registered and non-registered) are changing. In addition, our US savings account rate is also changing.
    Our term rates (effective July 6):
    1-year term - 3.75% average
    2-year term - 4.05%
    3-year term - 4.35%
    4-year term - 4.50%
    5-year term - 4.75%
      Quarterly breakdown of our 1-year term (effective July 6):
      The first three months: 3.60%
      Months four to six: 3.70%
      Months seven to nine: 3.80%
      The last three months: 3.90%

    US dollar savings rate 0.10 %

Those rate increases are quite significant

    Dean

  

Interested to see if mortgage, loan, credit rates are also going up significantly - wonder if that group (the indebted) will be able to handle the higher costs.

July 6, 2022
5:55 am
cgouimet
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blake said
Did Accelerate do same?  

Accelerate ... https://www.acceleratefinancial.ca/rates

Hubert ... https://www.happysavings.ca/rates/

CGO
July 6, 2022
7:46 am
pooreva
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OK folks, power up your crystal ball and provide comment on future Huber interest rates.
Will current 1y GIC rate stay until August 2022? September?
How long will current rate stay?
Do you see rate increase and when?
Do you see rate decrease and when?

July 6, 2022
8:09 am
blake
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Ooooooops

9E2FC825-DD1B-440E-ACC3-EB8F7AB99E57.jpeg

Looks like the merging/meddling is breaking up the efficiencies of Hubert. Here we go!!

July 6, 2022
8:15 am
cgouimet
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pooreva said
OK folks, power up your crystal ball and provide comment on future Huber interest rates.
Will current 1y GIC rate stay until August 2022? September?
How long will current rate stay?
Do you see rate increase and when?
Do you see rate decrease and when?  

They will definitely stay the same for at least 7 days ...

LOL ...

CGO
July 6, 2022
8:18 am
cgouimet
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blake said
Ooooooops

9E2FC825-DD1B-440E-ACC3-EB8F7AB99E57.jpeg

Looks like the merging/meddling is breaking up the efficiencies of Hubert. Here we go!!  

That's a big stretch! It's happened before and there has been no merging of systems yet ...

CGO
July 6, 2022
8:35 am
Dean
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.
What Cgouimet said

    Dean

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

July 6, 2022
8:36 am
blake
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July 6, 2022
8:54 am
cgouimet
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blake said
69A2C528-806B-4144-BD11-90D3FB10D9D4.jpeg  

Read it ...

Like Dean & I said ... At this time merged in name only ...

CGO
July 6, 2022
9:05 am
Norman1
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"We're Merging July 1…" is about the legal corporate changes. Sunova CU and Noventis CU no longer exist separately and are now part of Access CU. Three former credit unions are continuing as a single credit union.

Legally, our Hubert-branded deposits are now Access CU deposits instead of Sunova CU deposits. However, the three banking systems have not merged yet. The Sunova systems won't be merged until next year:

When will the technical integration(s) take place?
Integrating databases into a singular banking platform is a major system change and impacts nearly every aspect of the credit union’s operations. Noventis and Access are on the same banking platform and that database integration is scheduled to take place on November 18, 2022. The Sunova integration is tentatively scheduled for Fall 2023. Until these integrations, it will be business as usual for all members.

July 6, 2022
9:08 am
blake
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Dream on....meddling (control of power of the stronger CU), planned changes and restructure plans would have been happening well before any dates they post.

July 6, 2022
9:11 am
cgouimet
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blake said
Dream on....meddling (control of power of the stronger CU), planned changes and restructure plans would have been happening well before any dates they post.  

I take it you have taken your money out of Hubert then. Good for you ...

CGO
July 6, 2022
9:14 am
Norman1
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blake said
Dream on....meddling (control of power of the stronger CU), planned changes and restructure plans would have been happening well before any dates they post.

You obviously don't know competition laws.

There are limits to how much the three competing credit unions can share until their corporate merger July 1.

July 6, 2022
9:22 am
blake
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Keep dreaming.

July 7, 2022
12:07 am
cgouimet
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All fixed now as promised ...

https://www.happysavings.ca/rates/

CGO
July 7, 2022
4:47 am
canadian.100
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You do take a hit by taking the Hubert 1 year Term @ 3.75% as opposed to buying say a 4.15% Term (GIC) elsewhere. Annual interest $3,750 vs $4,150 on $100K for 1 year. $350 is the "cost" for not locking in for 1 year, but having the "option" to cash in quarterly (Hubert).

July 7, 2022
5:04 am
cgouimet
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canadian.100 said
You do take a hit by taking the Hubert 1 year Term @ 3.75% as opposed to buying say a 4.15% Term (GIC) elsewhere. Annual interest $3,750 vs $4,150 on $100K for 1 year. $350 is the "cost" for not locking in for 1 year, but having the "option" to cash in quarterly (Hubert).  

If you take it as 1Yr @ 3.75%. But not so bad if you take it as 3Mo @ 3.6% and capture an even better full 1Yr then ...

CGO
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