Meridian 3.75% 5-year GIC (new money only) | Meridian Credit Union | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Meridian 3.75% 5-year GIC (new money only)
August 4, 2018
12:29 pm
Norman1
Member
Members
Forum Posts: 1846
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Meridian is offering 3¾% on 5-year GIC's from new deposits to "Meridian Retail Members". Some of the fine print:

1) Offer is limited only to new deposits to Meridian. New deposits are defined as dollars not currently on deposit with Meridian or money that has been on deposit for 30 days or less from inception of the offer (March 12, 2018). Deposits that have been withdrawn and re-deposited within the Offer period are not eligible for the Offer.

GIC broker Fiscal Agents is showing a similar agent rate of 3½% on 5-year GIC's from Meridian CU, with a $10,000 minimum.

August 4, 2018
3:11 pm
Loonie
Member
Members
Forum Posts: 4080
Member Since:
October 21, 2013
sp_UserOnlineSmall Online

Having a point of reference back in March is getting a bit ridiculous. They have not revised this date since the 3.5 offer. Are they planning on leaving it in place indefinitely?

I have an RIF GIC maturing there in Sept. I plan to cash in most or all of it before the end of the year. This has been my plan for some time. I will likely move the proceeds to another FI for another purpose, as has been my intention all along and they won't give me 3.75 for it even if I left it there.
If I invest in this new 3.75 GIC, it will be with money from another source, and it will be a greater amount than what I am cashing in from the RIF. Seems to me that this should be allowed but it sounds like it wouldn't be.
I'm going to have to have a chat with my "advisor" next week. If they can't accommodate me, I will make sure they know how unhappy I am with them. I imagine another FI will step up to match this rate with fewer conditions in due course.

August 4, 2018
5:20 pm
Nehpets
Ontario
Member
Members
Forum Posts: 378
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

Loonie said
I'm going to have to have a chat with my "advisor" next week.  

Loonie,

I would suggest discussing your problem with your Branch Manager. I found that at my Meridian Branch, the manager has some ability for accommodation to retain a valued client.

Stephen

August 4, 2018
7:57 pm
Loonie
Member
Members
Forum Posts: 4080
Member Since:
October 21, 2013
sp_UserOnlineSmall Online

I agree, Stephen. I had this in mind, but she might be on vacation this time of year, so I will have to see how far I can get. My current "adviser" is smarter than the last one, who left, so that's a plus.

The non-promo non-broker five year rate is only 2.6%.sf-frown

August 18, 2018
6:59 am
Koogie
Member
Members
Forum Posts: 188
Member Since:
November 19, 2014
sp_UserOfflineSmall Offline

Not available to small business clients either.
Top rate on offer is 3.18%

Said to them, no thanks. Can get way higher from other DICO institutions. Hell, can get higher than that from a handful of CDIC institutions.

Please write your comments in the forum.