September 15, 2017
Many financial institutions now have GIC rates considerably higher than Oaken.
Even Home Trust/Home Bank have much better rates than Oaken, as of today.
Oaken Financial...............5.25 5.15 5.00 4.70 4.70
Home Trust/Home Bank 5.42 5.34 5.31 5.02 5.03
Oaken needs to raise GIC rates to at least match Home Trust/Home Bank!
September 30, 2017
November 3, 2022
April 6, 2013
Home Trust will keep all its deposit taking channels if it wishes to see that upcoming upgrade to its debt ratings. This is from DBRS' March 24, 2023 report DBRS Morningstar Confirms Ratings on Home Capital Group Inc. at BBB (low) and Home Trust Company at BBB, Trends Remain Positive:
DBRS Morningstar will upgrade the ratings if the acquisition is completed [by a wholly owned subsidiary of Smith Financial Corporation] without material changes to HTC’s structure, leverage, and operating model as a standalone OSFI regulated institution, along with further progress in diversifying funding sources and continued strong financial performance.
Funding and Liquidity Combined Building Block (BB) Assessment: Good/Moderate
Although on a downward trend, the [Home Capital] Group continues to be highly dependent on broker-sourced deposits, which comprised a still-high 69% of its $15.9 billion total deposits at December 31, 2022. Positively, HCG continues to grow its direct-to-consumer channel through its Oaken Financial offering, and directly sourced deposits have increased 12% YoY to $4.9 billion [31% of its total deposits]. Additionally, the Group further diversified its wholesale funding, …
December 27, 2021
Please note that effective Monday, July 24th, 2023, we will be increasing the interest rate for Oaken long-term GICs as noted below:
1 Year GIC – 5.50% (previously 5.25%)
18 Month GIC – 5.50% (previously 5.20%)
2 Year GIC – 5.50% (previously 5.15%)
3 Year GIC – 5.35% (previously 5.00%)
4 Year GIC – 5.00% (previously 4.70%)
5 Year GIC – 5.00% (previously 4.70%)
The new GIC rates will be applied automatically for all corresponding GICs booked on Monday, July 17th, 2023 or later.
All other Oaken rates will remain unchanged.
January 12, 2019
"It's Time For Oaken To Increase GIC Rates!"
Apparently, that time has come ➡ https://www.oaken.com/gic-rates/
Fill Yer Boots❗
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