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Duca

DUCA Financial (Ontario Credit Union) - 3% promo rate till May 30, 2020 (Dead for new funds)

  • Last Updated:
  • Oct 6th, 2020 4:00 pm
Deal Addict
Nov 6, 2003
2558 posts
823 upvotes
Darshan7 wrote: DUCA winter promo it's still 3% and they've extended it to June 30,2020

https://earnmore.duca.com/
I don't see where it says the winter promo is extended ? It only says "Get more with the Earn More Savings Promotion1. 3.00% (Offer expires June 30th, 2020) Current DUCA Members, please note that this offer is for deposits new to DUCA and is not available through online or mobile app (Smartphone) transfers from a current DUCA account. Please visit your DUCA branch or call Member Connect at 1.866.900.3822 to take advantage of this offer."

Makes it sound like you have to put new money in the Earn More Savings account to get 3% til the end of June ?
Deal Fanatic
User avatar
Feb 5, 2006
7774 posts
1646 upvotes
Toronto
ManavC656081 wrote: Quick question, this means I will get 3 percent till july or will get 3.00% for entire year if i open my account before july.
You only get the 3% rate until end of June.
Deal Addict
Apr 18, 2008
2117 posts
1300 upvotes
Toronto
sylvestor2002 wrote: I don't see where it says the winter promo is extended ? It only says "Get more with the Earn More Savings Promotion1. 3.00% (Offer expires June 30th, 2020) Current DUCA Members, please note that this offer is for deposits new to DUCA and is not available through online or mobile app (Smartphone) transfers from a current DUCA account. Please visit your DUCA branch or call Member Connect at 1.866.900.3822 to take advantage of this offer."

Makes it sound like you have to put new money in the Earn More Savings account to get 3% til the end of June ?
A few weeks ago the same webpage says May 30 everywhere instead of June 30. But yes the webpage does not say anything about "extended".

In truth, DUCA had been having ongoing promo for a while, sometimes extending the same promo and other times giving it a new name, and adjusting the interest rate periodically to reflect market condition. Their promo fineprint allow them to adjust the rate at any time, or end the promo earlier, or set a dollar limit to your deposit. So far they had been very good in holding the 3% rate, but we'll see what happens (with the 3rd 0.5% BoC rate cut today).

And yes, promo rate is for new money only, officially. Some of us managed to get our existing deposit to qualify but YMMV.
Amerifriend threads need to include instructions on how to acquire an amerifriend. :confused:
Deal Fanatic
User avatar
Feb 5, 2006
7774 posts
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Toronto
sylvestor2002 wrote: Not sure what you mean. Is this an extension of the Winter promo ?
Yes one extra month.
Deal Addict
Jul 14, 2019
1203 posts
878 upvotes
Ontario
sylvestor2002 wrote: Not sure what you mean. Is this an extension of the Winter promo ?
The thread title is not updated yet so check it says 3% till May although DUCA extended it till June a couple of weeks ago.(Request OP to update the title)
Deal Addict
Nov 6, 2003
2558 posts
823 upvotes
OakAged wrote: "After May 30, 2020 funds in the Earn More Winter Promotion account will be transferred into a regular Earn More Savings Account. (Current interest rate: 1.40%.) Statements will reflect this activity."

3% is nice these days for a guaranteed return. But at 1.4% those of us with a mortgage would be better off making extra mortgage payments or increasing the payment.

Not for me personally, but thanks OP for letting us know. Those who want to move money around frequently for small percentage gains can certainly use this for the four months.
Darshan7 wrote: The thread title is not updated yet so check it says 3% till May although DUCA extended it till June a couple of weeks ago.(Request OP to update the title)
Note, the current 3% is with the "Earn More Winter Promotion" account. No where does it say the "Earn More Winter Promotion" has been extended til end of June. It might be easier to call Duca and confirm if it's an extension or a new promo for new money.
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User avatar
Oct 24, 2004
8568 posts
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Toronto (Central)
As I hadn't used my account since 2017 I was asked to do a soft credit pull through Equifax for my account to be reinstated and transferred a sum of money from my linked external account into their account.

Confirmed that the promotion 3% rate is valid until the end of June for now
Deal Addict
Nov 6, 2003
2558 posts
823 upvotes
newt_101 wrote: As I hadn't used my account since 2017 I was asked to do a soft credit pull through Equifax for my account to be reinstated and transferred a sum of money from my linked external account into their account.

Confirmed that the promotion 3% rate is valid until the end of June for now
Not sure what you mean by "do a soft credit pull through Equifax for my account to be reinstated " ?
Deal Fanatic
User avatar
Oct 24, 2004
8568 posts
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Toronto (Central)
sylvestor2002 wrote: Not sure what you mean by "do a soft credit pull through Equifax for my account to be reinstated " ?
I called DUCA to see if I could get the promo and I was told that my account had been deactivated.
In order to reactivate my account the lady had to do a soft-credit check via Equifax to reinstate it, after confirming my personal details.
Perhaps if you go into a branch it's not required but on the phone it was.
Deal Fanatic
User avatar
Feb 5, 2006
7774 posts
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Toronto
newt_101 wrote: I called DUCA to see if I could get the promo and I was told that my account had been deactivated.
In order to reactivate my account the lady had to do a soft-credit check via Equifax to reinstate it, after confirming my personal details.
Perhaps if you go into a branch it's not required but on the phone it was.
I had a check done in the branch, as a new customer.
Sr. Member
May 21, 2015
522 posts
297 upvotes
no longer advertised on their main page. wonder if they will honor 3% for existing accounts.
Sr. Member
Oct 7, 2013
739 posts
534 upvotes
user512 wrote: no longer advertised on their main page. wonder if they will honor 3% for existing accounts.
Their large website banner promoting 3% for their HISA is indeed gone but as of this post they still have 3% showing in their listing of their savings account rates.

No notice - no mention of any rate change although wouldn't be surprised if things did change.

Got my DUCA interest payment early today - the full 3%. Will it be the last?
Member
Mar 4, 2006
321 posts
575 upvotes
GTA
I just called into the DUCA call centre and got the following answers:

1. They will no longer transfer new deposits into the Winter Promo Park account
2. Any existing balance in the Winter Promo Park account will continue to earn 3% interest until June 30
Deal Guru
May 23, 2003
10229 posts
1652 upvotes
GTA
Inspectah wrote: I just called into the DUCA call centre and got the following answers
Thanks, I updated the OP with your info.
Newbie
Jul 29, 2019
7 posts
Was just in branch. From tomorrow they have a new promo for new customers. 2.5% for 12 months.
Deal Addict
May 21, 2004
3000 posts
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keloid wrote: Was just in branch. From tomorrow they have a new promo for new customers. 2.5% for 12 months.
That's too bad. So it looks like 2.80% GIC for one year at Tangerine is better and it's open to everyone. Plus safety is better since Tangerine is owned by a big 5 bank. Their 3.2% GIC is also tempting but being locked in for 5 years is the downer.
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Feb 5, 2006
7774 posts
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Toronto
So if I add more to my Winter account now, what interest do I get on it?
Sr. Member
May 21, 2015
522 posts
297 upvotes
Inno wrote: So if I add more to my Winter account now, what interest do I get on it?
nothing unless you call in and get 'special approval' from upper management.
pretty poor communication around this promotion to be honest

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