December 12, 2009
Though Fusion Credit Union's HISA doesn't meet our criteria for being "competitive" on rates for inclusion in the HISA comparison chart, it's now been over a year since they rolled out their all digital new member onboarding process welcoming Canadians from all Canadian provinces and territories including Quebec. As well, since that time, their GIC rates have consistently been comparable to the Manitoba CUs and they have been in the middle to upper tier of FIs on rates.
Among their current term deposit promotions, they have:
* 14-month: 2.3%
* 19-month: 2.4%, which ties them for the second highest GIC rate in Canada
Among their regular non-redeemable rates (some of their redeemable rates even qualify):
* 1.85% (1 year) to 2.05% (5 year)
Their savings accounts don't have any free transactions, but they do have a free Golden Chequing account for seniors that can be opened, and for non-seniors, they have a chequing account that waives all chargeable debit transaction fees with only a $1,000 minimum balance. Alternatively, one can fund their GIC purchase by cheque or by linked external account (they have Me-to-Me Transfers).
Thus, I recommend they be given a profile page, a named financial institution forum, and be added to the GIC comparison chart, consistent with our inclusion criteria.
GIC rates page: https://fusioncu.com/rates/