When is Achieva going to raise their rates? | Tax Free Savings Accounts | Discussion forum

Alexandra said
I have three TFSA GIC's with them and two non-registered GIC's. One of the tax free accounts has been sitting in a TF savings account @1.1% since January and another GIC comes due in early April. I'll give it another week, otherwise I am going to cash out these two and re-invest in TFSA in 2023. Seriously thinking of getting out of Achieva all together. One nice thing though: I have been receiving $1.00 every month from them for quite some time. Got this for agreeing not to have monthly mail out statements. No one offering that anymore. There were a couple of others that did this a few years back, but I didn't take advantage of it.  

Alexandra, like you I have been concerned about what is happening at Achieva. I have a special affinity for that CU since they were my first online banking experience. We opened accounts in late 2006 and started depositing in them in 2007. Have enjoyed the experience and the good people at Achieva throughout that time. Until recently they had competitive, if not higher, interest rates. I wonder what effect the mergers occurring around them are having? I have had to move funds from there in the past year. 1.25% for savings account was my bottom line for a savings account.

I am happy to report that a check today reveals that Achieva has raised their rates:

Daily 1.30%
1-yr 1.75%
2-yr 2.10%
3-yr 2.25%
4-yr 2.5%
5-yr 2.85%

Not leading rates but respectable and a move in the right direction. Not sure if these changes have been reported before. I am somewhat relieved. I really want this CU to do well. I like the way they do business and will give them some more time.