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New Peoples Trust Rates
August 23, 2019
8:02 am
Bud
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Too bad they dont have another sub like Home trust & bank

For the purposes of cdic you cant hold Peeps thru a broker and direct to get double the coverage

August 23, 2019
8:56 am
Doug
British Columbia, Canada
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dealjunkie said
Too bad they dont have another sub like Home trust & bank

For the purposes of cdic you cant hold Peeps thru a broker and direct to get double the coverage  

They do, actually. As noted, the Minister of Finance has granted a Letters Patent of Incorporation to Peoples Bank of Canada, which will be a direct wholly-owned subsidiary of Peoples Trust Company. Once the Superintendent of Financial Institutions Canada has issued an Order to Carry On Business and Commence Operations, which is expected later this month or next month, Peoples Bank of Canada will become a CDIC member and be able to accept deposits, arrange mortgages, and other banking activities as it desires. It has registered "peoplesbank.ca," but I expect Peoples Trust to operate solely at "peoplestrust.com" with the ability to select "Peoples Bank of Canada" as a dual issuer of your HISA or GICs. sf-cool

Interestingly, Peter didn't mention the Peoples Bank of Canada incorporation in his August 2019 monthly update, but perhaps he'll mention that in the September update. 😉

Cheers,
Doug

August 23, 2019
10:25 am
Bud
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till then all deposits under peoples trust not transferable to the bank

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