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Saven Financial, Division of First Ontario Credit Union (Ont. residents only)
April 25, 2021
1:25 pm
balanced_gic_porfolio
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July 6, 2019
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GR said
Seems like a new online division of an established credit union for Ontario residents.
HISA 1.55%
GICs 1 to 5 yrs. ranging from 1.55% to 2.05%
No registered accounts; no joint accounts.

https://savenfinancial.ca/en/on-Home  

I am keeping an eye on this one. Thanks.

FirstOntario has 126,000 members and have been operating as a credit union since 1939 (as then, Stelco Employees Credit Union) so it is established. Since their HISA is currently on par with CTFS, if their 1.55% HISA rate proves stable I may open up an account with them in the future in an amount to fall within the DICO/250K FSRA limits.

July 19, 2021
6:44 pm
KamWest
Toronto
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December 20, 2019
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Since CTF has now fallen to 1.25% I am still trying to figure out if there is a ceiling on the rate.

IE max account balance of 250K or if there is no limit with the same interest rate.

Funny that is not mentioned anywhere.

July 19, 2021
7:07 pm
smayer97
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September 29, 2017
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IIRC they have no limit.

July 20, 2021
8:40 am
Pythagoras
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October 27, 2020
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Is there a reason why Saven Financial is not listed neither in the HISA chart nor the GIC chart?

July 20, 2021
8:42 am
KamWest
Toronto
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Pythagoras said
Is there a reason why Saven Financial is not listed neither in the HISA chart nor the GIC chart?  

Ontario only so it does not make the Canadian lists

July 20, 2021
8:43 am
KamWest
Toronto
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I am really sitting on the fence with this one, now that CTF is down to 1.25% the 1.55% is very attractive but with Saven being the last hold out by the time I do my paperwork and move my money they will probably hit 1.25% as well.

Hmm, I wish I had a crystal ball

July 20, 2021
8:59 am
HermanH
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April 14, 2021
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I am in the same situation with Wealth1. By the time I set up the TFSA transfer for 1.5%, it will likely be down with all the others. 🙁

July 20, 2021
12:43 pm
Alexandre
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November 8, 2018
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I wanted to try Saven, but their app is not compatible with my Android 9 smartphone. I'll pass.

July 20, 2021
12:48 pm
KamWest
Toronto
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Works with Android 11 on my Pixel 3 phone.

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