Rail Baron said
Somebody sure seems in a hurry to get MAXA Financial off this site.

I humbly suggest keeping them in place until the integration is actually completed.

Right now, that is proposed to be mid-October of 2026. What's the hurry to boot them now?

Those that are already MAXA Financial members will receive e-mail notifications of GIC promotions. You can count on two hands or less the number of HighInterestSavings.ca users who have current/active MAXA Financial memberships.

A member migration of this nature is very disputive, requiring new membership numbers, new debit cards, new online banking credentials, and the like.

Since the main purpose of this site is for new-to-FI membership sign-ups, there is zero compelling reason for maintaining confirmed "walk of death financial institutions" on the comparison charts.

Anyone that wants to sign up for a Manitoba CU account would be just as well, if not better served by going with Achieva Financial, Outlook Financial, or Hubert Financial.

However, given Outlook is ending support for Me 2 Me Transfers and Hubert EFT transfers are only available via telephone with a CSR, whose hours aren't great for those west of Saskatchewan, I would submit there's really only one viable Manitoba CU now, and that's Achieva Financial (which is also the original one). All others are absolute trash at this point. 🙂

I humbly suggest keeping them in place until the integration is actually completed.

Right now, that is proposed to be mid-October of 2026. What's the hurry to boot them now?

Does anyone else remember Hubert's deadline to revamp its IT and introduce multi-factor authentication? That was supposed to happen in October of 2025, and we are still awaiting word on their new plan to fix the glitches in the system that they were trying to bring online.

So who knows how long the actual integration of MAXA into ACU will take? We'll find out when it happens, not before!

Let's remove MAXA Financial from the comparison chart now. They never attracted more than 1,000 concurrent customers and more than $25-50 million in total deposits assigned to the MAXA Financial branch (based on my best estimates).

Currently, the TFSA funds you have on deposit with our credit union are held under the Westoba Credit Union Tax-Free Savings Account specimen plan, trusteed by Concentra Trust.

At our request, the Trustee has agreed to the transfer of your TFSA contract(s) to another specimen plan, known as the Outlook Financial – A Division of Assiniboine Credit Union Tax Free Savings Account, which is also trusteed by Concentra Trust. All administration and processing continues to be conducted directly at the credit union. Your TFSA contract(s) will be amended effective January 1, 2026, to conform to this new plan..

The Declaration of Trust governing this new plan can be found by visiting Outlook Financial website, by clicking the URL below....

We suggest that you retain this Declaration with your other TFSA documents for reference.

This amendment does not alter the investments held in your TFSA contract in any fashion. Funds remain on deposit at the credit union with interest rates and investment terms remaining unchanged.

Cheers,
Doug

So keep logging in, if you want to maintain access to your account.

Rail Baron said
I'm not familiar with the Implicity amalgamation, but I do know what happened with Hubert's integration into Access Credit Union. That amalgamation took over a year, with advance notice given months ahead of the much lamented decommissioning of the Hubert web site and its transition to the inferior Access system. …

That's more likely what will actually happen.

There was no migration and integration of the Wyth accounts when EQ Bank took over Concentra. When the takeover closed November 1, 2022, Wyth account holders were given at least 90 days to onboard themselves to EQ Bank and move their funds over before the Wyth accounts would be closed.

The Wyth accounts remained open until May 2, 2023, six month later.

In the Access-Sunova-Noventis credit union merger, Access was the largest of the three. Yet, it wasn't Access' online-only AcceleRate offering that was continued. Instead, it was Sunova's Hubert that was chosen to continue.

Another reason that a sudden transition is less likely is the commitment to make the new amalgamation fully bilingual, which was made prior to the vote on integration. I expect that will add time to the amalgamation efforts.

MAXA still offers some very good rates, and even if an extra $5 membership was purchased to take advantage of them, the financial advantage being offered could be material.

I did some math for my investments in 2022 since MAXA has relatively higher fees for cheques and registered investment transfers compared to other FIs tracked on this site. I found that the thousands in higher income over a 5 year GIC more than made up for the extra hundred dollars in fees down the road.

Rail Baron said
This thread led me to check my records from MAXA, and I can confirm that no further announcement following the vote to amalgamate has been made to members.

All of my statements show "business as usual" and make no mention of upcoming changes.

Perhaps waiting for an official announcement of MAXA's integration into the new amalgamated entity would be appropriate before disappearing it from the HISA and GIC charts?  

Relying on 'official records' is a fool's errand, given that companies often do not make advance announcements. For something like this, particularly if there is little to no transition required to migrate accounts, they won't want to make an advance announcement (as happened with Implicity Financial accounts). I think it's better to simply give forum users an advance head's up of what is almost certain to happen. Moreover, I believe it's disgenuous, at best, and misleading, at worst, to be recommending non-MAXA customers sign up for a MAXA account and membership when they may already have an Outlook Financial membership, resulting in duplicate memberships that later need to be consolidated and duplicate member equity share issuances refunded.

Cheers,
Doug

All of my statements show "business as usual" and make no mention of upcoming changes.

Perhaps waiting for an official announcement of MAXA's integration into the new amalgamated entity would be appropriate before disappearing it from the HISA and GIC charts?

In any case, it's safe to remove MAXA Financial from the HISA and GIC charts now, and move it to the archived section of the Profiles page.

Cheers,
Doug