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Email this9:19 am
March 1, 2021
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Why not add Saven Financial to HISA comparison chart?
1:25 pm
May 15, 2007
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Hi,
Can you please disclose your affiliation to FirstOntario Credit Union / Saven Financial?
At the moment, one of the criteria for chart inclusion is that the financial institution be:
accessible to all Canadians in all provinces and territories or, alternatively, all provinces and territories with the exception of Quebec (however, when they do exclude Quebec residents, this is indicated on the chart)
As far as I understand, only Ontario residents can open a Saven Financial account.
Peter
2:07 pm
December 20, 2016
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.....and, for some reason, joint accounts are not available, making Saven a less attractive option, despite their current seemingly attractive interest rate, for the time being.
Stephen
2:49 pm
October 21, 2013
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Yes, the lack of joint accounts is a game-stopper for me. I'm no longer looking for more one-person HISAs.
They also don't offer GICs.
4:22 pm
January 23, 2013
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Loonie said
Yes, the lack of joint accounts is a game-stopper for me. I'm no longer looking for more one-person HISAs.
They also don't offer GICs.
+ one. No joint account is deal breaker for me too.
4:38 pm
July 9, 2020
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Dennis said
+ one. No joint account is deal breaker for me too.
Not the same for many of us. No joint account is not necessarily a criteria for exclusion, though helpful if same is noted in the HISA summaries. I am interested in what Miranda's response is to Peter's question.
6:47 pm
December 12, 2009
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In addition to what others have written above, please note that we don't add financial institutions to the HISA or GIC comparison charts unless they meet our inclusion criteria. If your financial institution has promotional GIC rates available only to members in a certain province, then those promotional GIC rate offers can can be added to the "promos" page, and you're always free to discuss specific offers by way of discussion thread on these forums.
Hope that helps,
Doug
6:55 pm
December 12, 2009
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Miranda said
Why not add Saven Financial to HISA comparison chart?
Hi,
Would you like Peter to rename your username to something other than your e-mail address?
Peter said
Hi,Can you please disclose your affiliation to FirstOntario Credit Union / Saven Financial?
At the moment, one of the criteria for chart inclusion is that the financial institution be:
accessible to all Canadians in all provinces and territories or, alternatively, all provinces and territories with the exception of Quebec (however, when they do exclude Quebec residents, this is indicated on the chart)
As far as I understand, only Ontario residents can open a Saven Financial account.
Peter
I suspect Peter already Googled Miranda's name, but it looks like Miranda is a publicist for the PR firm Jan Kelley, contracted by FirstOntario Credit Union's Saven Financial online division, per this press release (https://www.newswire.ca/fr/news-releases/saven-financial-offers-serious-savers-super-competitive-rates-to-grow-their-savings-and-give-back-to-their-communities-808474448.html).
Miranda, if you want Saven Financial to be included in the HISA and GIC comparison charts, I'd strongly recommend you escalate a request to FirstOntario Credit Union's board of directors to amend their bond of association to allow members from outside of Ontario to join the credit union. Once that's done, it could be added almost immediately, or within a few weeks at the very least, of that change's announcement. 
Cheers,
Doug
8:13 pm
February 16, 2013
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Loonie said
They also don't offer GICs.
Actually they DO have GICs. https://www.savenfinancial.ca/en/on-rates
9:15 pm
October 27, 2013
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I agree the current criteria for inclusion in the list should be national, or national ex QC. It would be annoying to no end for a large portion of Canadians to have to dig deeper into each listing to see relevance, if any, to them. I'd stop paying attention......
10:45 pm
October 21, 2013
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MG said
Actually they DO have GICs. https://www.savenfinancial.ca/en/on-rates
Good observation. Coulda sworn someone said earlier they didn't. Maybe I was thinking of registered plans.
I presume these too are only for single persons. I am phasing out of those now and won't be buying any more. If I did, it would be at an FI that also offered joint accounts.
There are many FIs, and many offers, that are only available within a given province or by going in person to the FI. The only way we have of tracking them is by listing promos or by specific posts. That's unfortunate.
For this reason, I don't find the charts here very useful and rarely look at them.
Currently we have a column to note those that are not available in Quebec, yet it appears we do not have a lot of members form Quebec. We have way more members from Ontario from what I can tell, but there is no provision for Ontario-only. If it were up to me, I'd add a column for Ontario-only because of the very large number of Ontarians, which would open up quite a few more options.
11:40 pm
February 17, 2013
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Doug said
Miranda, if you want Saven Financial to be included in the HISA and GIC comparison charts, I'd strongly recommend you escalate a request to FirstOntario Credit Union's board of directors to amend their bond of association to allow members from outside of Ontario to join the credit union. Once that's done, it could be added almost immediately, or within a few weeks at the very least, of that change's announcement.Cheers,
Doug
Hope she does. Their GIC rates would put them at the top of the list. I'd sign up.
2:58 am
October 21, 2013
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I would too, if they offered joint ownership. I'm working on avoiding probate altogether for at least one of us by making everything joint, but it will take me another 2 or 3 years.
5:47 am
March 1, 2021
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Doug said
Hi,
Would you like Peter to rename your username to something other than your e-mail address?
Yes I would!!! LOL
This is all good feedback and info -- thank you!! 🙂
8:39 am
February 1, 2016
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Loonie said
I would too, if they offered joint ownership. I'm working on avoiding probate altogether for at least one of us by making everything joint, but it will take me another 2 or 3 years.
Same here. We now have everything in joint names except for 2 vehicles. That will happen after Service Ontario welcomes us back into their store fronts.
I am looking for more savings accounts in Ontario. I have People's in my sights but Saven Financial would be good too if/when they support joint accounts. I will contact them through the comment section in the links provided to point out they should not ignore seniors who have a distinct need for this service. There are a lot of us out there.
How much trouble is it for a FI to provide joint accounts?
10:26 am
September 24, 2019
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I believe there is not one credit union in BC that offers a decent term deposit rate.
At one time Island Savings & Community Credit Union did but no more. The only exception was Coast Capital when they were going Federal.
So, the only alternative it seems for BC residents, in terms of Credit Union rates is to use the Manitoba ones.
10:38 am
October 27, 2013
Online
Loonie said
There are many FIs, and many offers, that are only available within a given province or by going in person to the FI. The only way we have of tracking them is by listing promos or by specific posts. That's unfortunate.
For this reason, I don't find the charts here very useful and rarely look at them.
Currently we have a column to note those that are not available in Quebec, yet it appears we do not have a lot of members form Quebec. We have way more members from Ontario from what I can tell, but there is no provision for Ontario-only. If it were up to me, I'd add a column for Ontario-only because of the very large number of Ontarians, which would open up quite a few more options.
Then I would suggest starting an "Ontario only" tab (sub-forum) so the rest of us can avoid it.
10:41 am
December 12, 2009
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Alexandra said
I believe there is not one credit union in BC that offers a decent term deposit rate.
At one time Island Savings & Community Credit Union did but no more. The only exception was Coast Capital when they were going Federal.So, the only alternative it seems for BC residents, in terms of Credit Union rates is to use the Manitoba ones.
Yeah... in terms of credit unions, that's probably accurate, notwithstanding time-limited GIC promo rates (i.e., sometimes North Peace Savings and District Credit Union will offer a decent promo rate).
Windsor Family Credit Union's Omnia Direct advertises itself as Ontario residents only, but Alberta residents have reported successfully becoming members, with Alberta addresses. Likewise, Libro Credit Union has confirmed to me that if a customer claims Ontario residency ties, they could still complete an account application successfully. So if you're willing to say you're an Ontario resident and the application process is entirely virtual, non-face-to-face, then I suspect it may be possible to for non-residents to become a member of Ontario credit unions that are notionally "Ontario residents only." Just need a B.C. resident to test it.
Cheers,
Doug
10:44 am
December 12, 2009
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AltaRed said
Then I would suggest starting an "Ontario only" tab (sub-forum) so the rest of us can avoid it.
Or, ideally, a separate HISA comparison chart, say at
, with tabs for specific province residency requirements, to prevent the main chart from being too cluttered with two many tabs.
Peter, does Simple::Press forum software not offer an inline version of the "code" tags that presents the code text in the same paragraph without creating a whole paragraph? Some forum software/communication platforms offer dual versions of quoted text, so it'd be really nice if that feature exists.
Cheers,
Doug
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