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February 2, 2023
7:55 am
hwyc
GTA
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(data point)
1-year GIC 4.95%
18-month GIC 5.05% (seen on splash)
2-year GIC 3.75%
3-year GIC 4.00%
4-year GIC 4.25%
5-year GIC 4.50%

February 2, 2023
9:22 am
sothisistheinternet
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These are good rates. When Omnia launched they had some great rates, but nothing really interesting since.

Remember that Omnia is a division of Windsor Family Credit Union. So, if you have investments in both and you don't want to exceed FRSA coverage, then keep it under $250k aggregate (including interest).

Windsor Family has been pretty aggressive the last couple of months with their broker-only rates, often leading the way on 3/4/5. Lately they have fallen to about the middle of the pack (broker-rate wise). I wonder if they are now going to try and use Omnia to bring in some cash.

February 14, 2023
5:08 pm
hwyc
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(New splash) 30-month GIC 5.40% added

Screenshot_2023-02-14-19-55-48-274_com.android.chrome.jpg

February 14, 2023
5:46 pm
Canadianbull
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Is it for Ontario only?

February 14, 2023
6:35 pm
HermanH
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Canadianbull said
Is it for Ontario only?  

Yes

As long as you have all that and you’re an Ontario resident over the age of 18, you’re ready to get started.

https://join.omniadirect.ca/

February 15, 2023
2:33 am
Canadianbull
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Oh well. I live in AB. Amazing rate.

February 15, 2023
2:42 am
HermanH
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Yes, it is. Rest assured, Peoples Group is still offering 5.4% for two years. It's not too late. sf-smile

February 15, 2023
10:58 am
Canadianbull
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Coverage is upto 250K per account right?

February 15, 2023
11:02 am
HermanH
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Peoples Group is under CDIC, so $100K coverage under each category.

February 15, 2023
11:42 am
Nehpets
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Canadianbull said
Coverage is upto 250K per account right?  

Yes, WFCU is an Ontario CU covered under FSRA and Omnia is the online entity of WFCU.

Stephen

February 15, 2023
2:27 pm
Canadianbull
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Thanks I was asking for Omniadirect.

February 15, 2023
5:31 pm
Canadianbull
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Why no one here talk about omniadirect?

February 15, 2023
6:36 pm
Norman1
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People are talking about Omnia Direct when they are talking about WFCU Credit Union.

Omnia Direct is just a trade name used by WFCU Credit Union for one of their web sites.

February 16, 2023
3:02 am
Canadianbull
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Gotcha!

February 16, 2023
2:21 pm
Canadianbull
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Can people share their experience good or bad dealing with omniadirect?

February 16, 2023
3:23 pm
Nehpets
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Canadianbull said
Can people share their experience good or bad dealing with omniadirect?  

A few years ago when Omnia first appeared on the scene, their rates were very attractive. My own experience with them was excellent, with helpful CSR's, responsive to inquiries and effective in resolving questions.

Omnia has been a sleeper since those days; however I have had opportunity to deal with Omnia parent, WFCU where, again, service was excellent and I got effective resolution to my inquiry.

WFCU has been offering top GIC rates through brokers the past several weeks, so if anyone purchased a WFCU GIC through a broker, the amount covered by FSRA ($250,000 per account) would be combined with any amount invested through Omnia.

Stephen

February 16, 2023
7:10 pm
Canadianbull
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Thanks. So far, my experience with their CS through emails is perfect. If they allow me I will park my money here for 30 months.

February 16, 2023
11:10 pm
HermanH
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Canadianbull said
If they allow me I will park my money here for 30 months.  

How do you plan on doing that, since you must be an Ontario resident to qualify? I'd love to have that option, too, since I'm in Alberta.

February 24, 2023
1:51 pm
Iminterested
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hwyc said
(New splash) 30-month GIC 5.40% added

Screenshot_2023-02-14-19-55-48-274_com.android.chrome.jpg  

I received my 30 month GIC certificate in the mail today and noticed it stated annual interest. I called in to ask why it was not compound and was told that this special is not compound interest.sf-frown .

February 24, 2023
8:54 pm
RetirEd
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On the plus side, you then get your interest payouts after 12 and 24 months earned at the 40-month rate, higher than you'd get from a 1-year. (Peoples is currently matching the 5.4% for 24 months.)
RetirEd

RetirEd

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