It shows the following information:

Limited-time offer to grow your savings
Jumpstart your savings by 5.00%.1

Now's a great time to give your savings a boost. Earn 5.00% with a new Jumpstart account until December 22, 2026.

It has an option for NEW members and one for EXISTING members.

Maybe it's an in-branch offer only?

But they don't usually pop up here quickly or reliably. The "Promos" page currently lists a new-members-only deposit at 4.6%/4.6% for new members for 90 days.

When I visited the branch, a large sign advertised 5% for all members, old or new. (Until December 22nd I think.) They do this 2-3 times annually. I missed about a month of this because I don't get E-mail from them, not being an online banking user and depending on my mailed statements. This has happened before. I don't know why they don't put their offers in their statements, as I frequently urge them to do.

Is there anyone here who uses VanCity's online resources regularly who could pipe up when they see a promo? In the rainy season, I rarely use the branch save for the evening ATM, which never features promos. (Which seems to have had its evening hours extended from until 10 to now until 10:30 pm, a much-welcomed change!) Or is there a way to include VanCity in the site's regular data collection? VanCity has a great many branches and ATMs in BC and its new-money rules for promotions are particularly generous.

Thanks, Peter.

They ain't pretty

Dean

4.60% TFSA
4.60% RRSP
4.50% Non-registered

New members only, must activate within 30 days of account opening. Up to $1M. 3.90% on top of the posted rate (currently would be 4.60%).

Slightly lower rates for registered - details in the link.

I was told that for those who already deposited above this amount, the promo rate would apply to the full amount, even if over $250k, for the remainder of the promo term - but that no new money could be added if already over 250k.

The Terms and Conditions show that the document was updated on February 23: https://www.vancity.com/offers.....embers.pdf (see clause 9).

Heads up to anyone who has this promo.

So here is what it is.

Does any one think this is a good deal? I think not! I have numerous other non Vancity accounts and no doubt the average Vancity employee thinks I’m “all in” with them…..but not. I like things as straightforward as possible and similar as possible amongst my banking and this Jump Start is not a good fit. Since a have other HISA accounts at 2% and up…I can accept losing on this “working” account. And when I have what I consider surplus, I use their 30/90 day lock in GICS. They pissed me off a few months ago and I removed $75000 from their lock in GICS and I staggered the money in Hubert’s quarterlies and will make double the interest and have designed it that money will be available monthly.

So I see when we set up our TFSA accounts the wealth manager set us up with Jump Start TFSA savings accounts, with no explanation!
What am I in for?

I am tending to not use their ATM at all and since I started doing GICS with them, am doing more with them on the phone and in branch.

Next step is to ask why we have a Jump Start TFSA savings account and to change it to a regular TFSA savings account.

As a credit union, by regulation, all members much hold a minimal share account. For VanCity (and many others) that is $5. You only have to buy that once, when you first join the organization, and you get it back if you leave.

One CAN use EFT or direct deposit to put funds into a VanCity account, then one just has to phone in (or visit) to move that cash to the JumpStart. That's because VanCity's unusually generous promo terms aren't simple enough for automatic approval. They have no "waterline" provisions. I have removed funds to another institution, and then moved cash back in from a third one.

Norman1 said

rhvic said
Looking at the VanCity web page for this offer, I note that for new client accounts the promo rate is available for only 90 days after opening, thus not necessarily to April 30.

I am also not impressed that one cannot make deposits by EFT from other institutions. They want you to attend in-branch, and then it seems they will charge $5 for the visit (even for a phone call requiring a human).
…

That's only for the offer to existing members. The offer to new Vancity members is a bit different.

Point 2 on the offer page for NEW members states:
"Earn the promotional rate for 90 days"

rhvic said
Looking at the VanCity web page for this offer, I note that for new client accounts the promo rate is available for only 90 days after opening, thus not necessarily to April 30.

I am also not impressed that one cannot make deposits by EFT from other institutions. They want you to attend in-branch, and then it seems they will charge $5 for the visit (even for a phone call requiring a human).
…

That's only for the offer to existing members. The offer to new Vancity members is a bit different.

Presumably, as a new member, one won't have any pre-existing Vancity deposits. Vancity won't need to review deposits to see if the funds are coming directly or indirectly from one's previous deposits to other Vancity accounts in the previous 60 days.