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Access Credit Union, Fusion Credit Union, Niverville Credit Union & Rosenort Credit Union open up to all Canadians

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DP. MD's are in. Access P24 now linked EQ side Smiling Face With Sunglasses
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dmehus wrote: Thanks, @Shawguy. Yeah, that sounds like a good idea, though I'm not sure I see the benefit of buying shares separately through Sunova and Hubert. It's all the same organization and the dividend rates are the same. I would've just bought through Sunova, unless I planned to eventually close my Sunova membership. So...do you get two voting opportunities to vote for the Sunova board, or do they have a cross-reference noted internally that you're only entitled to one vote? If the former, then they have a loophole in their system since you're supposed to only have 1 vote per member, regardless of the number of memberships held.

As for using your low interest line of credit offer from CIBC, that seems like a good approach, but make sure you can pay off the line of credit with your savings when the offer expires as you won't be able to redeem your shares so early. The intent behind them is to hold them at least 5 years.

On the latter, it's on my to-do list to reply, but will be a longer reply. ;)

Cheers,
Doug
Yes I do get two votes, but the same has happened for Cambrian/Achieva, and Crosstown/Accelerate in the past as well, so it's not just specific to this CU.

Primarily I invest additional shares on the Hubert Side as I plan to be with Hubert long term. The only reason I have so much in Sunova is because prior to February 2019 you were required to purchase additional shares each month with Sunova UNLESS you already had $1000 in shares...so I bought $1000 in shares and then $250 extra just for the heck of it.

However $1000 of the shares at Sunova, and $2000 of the shares at Hubert are in a TFSA Shares Account, the remaining is in the normal share account.

As for the CIBC Balance Transfer offer on my Credit Card....it will 100% be paid off before the promo rate expires
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Poutinesauce wrote: Sigh, Rosenort called me last Friday and said someone would call me to tell me instructions to login online but they never did. I guess I have to contact them.
Update on Rosenort Experience.... I got my debit card in the mail today, and called to get my PIN as per instructions in the letter. They told me "I Must have called already for the PIN" as it shows as completed on their system (I never called), and that I would have to go to a branch to re-pin my card.... I said that is not feasible, and then they told me they would have to charge me for a new debit card because the one I have is still valid. I then had to ask for a manager, as how could this be my problem that their system messed up....and then I was put on hold, and they came back saying they would waive the debit card fee and mail me a new debit card.....Now I get to wait another week for a card. sigh :(

Overall I don't blame the representative...she was very nice, but the process of this new digital membership I think they are still working out the kinks and they haven't fully worked out all the bugs. However I do have online access and can view my accounts so at least I have online access.


FYI I also found out that the person in Head Office in Rosenort who looks after this is on vacation and the WInkler branch is currently looking after new account openings (which may explain some of the confusion)
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Shawguy wrote: Update on Rosenort Experience.... I got my debit card in the mail today, and called to get my PIN as per instructions in the letter. They told me "I Must have called already for the PIN" as it shows as completed on their system (I never called), and that I would have to go to a branch to re-pin my card.... I said that is not feasible, and then they told me they would have to charge me for a new debit card because the one I have is still valid. I then had to ask for a manager, as how could this be my problem that their system messed up....and then I was put on hold, and they came back saying they would waive the debit card fee and mail me a new debit card.....Now I get to wait another week for a card. sigh :(

Overall I don't blame the representative...she was very nice, but the process of this new digital membership I think they are still working out the kinks and they haven't fully worked out all the bugs. However I do have online access and can view my accounts so at least I have online access.


FYI I also found out that the person in Head Office in Rosenort who looks after this is on vacation and the WInkler branch is currently looking after new account openings (which may explain some of the confusion)
That must also be why nobody called me back. I was hesitant because I didn't know which branch to exactly call.
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Poutinesauce wrote: That must also be why nobody called me back. I was hesitant because I didn't know which branch to exactly call.
FYI I just found out....any Withdrawals from the TFSA Savings Account at Rosenort Credit Union must be done by the branch...meaning you have to send them an email or call them. If you try to do it it gives an error at the very last step. With Access CU and Steinbach CU you can do withdrawals in online banking. Rosenort, Access, and Steinbach all allow Deposits to the TFSA in online banking. Alterna Bank has the same old school way of having to call or email, hence why I don't use the TFSA there.

Also don't use your debit card with Rosenort to do a balance inquiry....50 cents there too for a fee. The only thing positive so far about Rosenort is the fact their online banking is nicer and not the standard one that most credit unions use
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Shawguy wrote: FYI I just found out....any Withdrawals from the TFSA Savings Account at Rosenort Credit Union must be done by the branch...meaning you have to send them an email or call them. If you try to do it it gives an error at the very last step. With Access CU and Steinbach CU you can do withdrawals in online banking. Rosenort, Access, and Steinbach all allow Deposits to the TFSA in online banking. Alterna Bank has the same old school way of having to call or email, hence why I don't use the TFSA there.

Also don't use your debit card with Rosenort to do a balance inquiry....50 cents there too for a fee. The only thing positive so far about Rosenort is the fact their online banking is nicer and not the standard one that most credit unions use
Nice DP. Glad I'm skipping Rosenort. Gave them serious consideration, but Access was a clear winner.

Debating whether to keep SCU for the long term. There are perks at SCU (fee table & rates vs. Access), and rates can change any time, so no harm in keeping both. Just means I can't empty them out completely. I know SCU TFSA min balance is $5 (lolz, not much, but I did ask), and Access claims I can leave them on empty (I struggle to believe that), but hey time will tell whether it's worth keeping both.
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titaniumtux wrote: Nice DP. Glad I'm skipping Rosenort. Gave them serious consideration, but Access was a clear winner.

Debating whether to keep SCU for the long term. There are perks at SCU (fee table & rates vs. Access), and rates can change any time, so no harm in keeping both. Just means I can't empty them out completely. I know SCU TFSA min balance is $5 (lolz, not much, but I did ask), and Access claims I can leave them on empty (I struggle to believe that), but hey time will tell whether it's worth keeping both.
I'm not sure if they do for our of province members but SCU gives a member bonus usually in March based on the amount of interest earned with them in the previous year (about 2-4% on the amount of interest already paid) Not a guarantee, but has been the last few years.

Whereas Access and Rosenort do not have that benefit or any profut sharing at this time
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Shawguy wrote: I'm not sure if they do for our of province members but SCU gives a member bonus usually in March based on the amount of interest earned with them in the previous year (about 2-4% on the amount of interest already paid) Not a guarantee, but has been the last few years.

Whereas Access and Rosenort do not have that benefit or any profut sharing at this time
oop members at scu get the bonus, too. offsets a chunk of the interest gap with access.
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Poutinesauce wrote: I finally got access to Rosenort last week.

How do I deposit money on it for free?
1. Send yourself an E-transfer.
2. Link the account at another bank and send money to Rosenort from that bank
3. Use the deposit feature on your mobile app. The first 10 deposits are free using the mobile app.
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Shawguy wrote: 1. Send yourself an E-transfer.
2. Link the account at another bank and send money to Rosenort from that bank
3. Use the deposit feature on your mobile app. The first 10 deposits are free using the mobile app.
The first 10 deposits a month? This requires making a check to myself and taking a picture of it in the app?

Can I receive an e-transfer in my high yields savings account without it costing me fees?
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Poutinesauce wrote: The first 10 deposits a month? This requires making a check to myself and taking a picture of it in the app?

Can I receive an e-transfer in my high yields savings account without it costing me fees?
Probably. I've done it at SCU.

@Shawguy can I get Access to open a TFSA via phone for me?
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Shawguy wrote: Yes I do get two votes, but the same has happened for Cambrian/Achieva, and Crosstown/Accelerate in the past as well, so it's not just specific to this CU.

Primarily I invest additional shares on the Hubert Side as I plan to be with Hubert long term. The only reason I have so much in Sunova is because prior to February 2019 you were required to purchase additional shares each month with Sunova UNLESS you already had $1000 in shares...so I bought $1000 in shares and then $250 extra just for the heck of it.

However $1000 of the shares at Sunova, and $2000 of the shares at Hubert are in a TFSA Shares Account, the remaining is in the normal share account.

As for the CIBC Balance Transfer offer on my Credit Card....it will 100% be paid off before the promo rate expires
Ah, okay, interesting re: multiple votes at CUs and their virtual divisions. Sounds like more of a limitation in their online and core banking system, which they use to keep their membership rolls. Fair enough re: the balance transfer. Not a bad strategy. Not too much extra work, but relative to the small dollar value, how much do you figure you're earning for that part of the period relative to what you'd earned if you'd transferred from your HISA?

Cheers,
Doug
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Shawguy wrote: Update on Rosenort Experience.... I got my debit card in the mail today, and called to get my PIN as per instructions in the letter. They told me "I Must have called already for the PIN" as it shows as completed on their system (I never called), and that I would have to go to a branch to re-pin my card.... I said that is not feasible, and then they told me they would have to charge me for a new debit card because the one I have is still valid. I then had to ask for a manager, as how could this be my problem that their system messed up....and then I was put on hold, and they came back saying they would waive the debit card fee and mail me a new debit card.....Now I get to wait another week for a card. sigh :(

Overall I don't blame the representative...she was very nice, but the process of this new digital membership I think they are still working out the kinks and they haven't fully worked out all the bugs. However I do have online access and can view my accounts so at least I have online access.


FYI I also found out that the person in Head Office in Rosenort who looks after this is on vacation and the WInkler branch is currently looking after new account openings (which may explain some of the confusion)
Good DP, @Shawguy. Do any of these Manitoba CUs not offer the ability to change PIN by phone whereby they essentially erase your PIN and allow you to visit an ATM on the Acculink ATM network to set a new PIN, typically same day if not within a few hours? Too bad they just couldn't have done that, but nice that they waived the replacement fee. And, as you say, the debit card is not especially significant (you likely won't use it much).

Cheers,
Doug
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Shawguy wrote: 1. Send yourself an E-transfer.
2. Link the account at another bank and send money to Rosenort from that bank
3. Use the deposit feature on your mobile app. The first 10 deposits are free using the mobile app.
They charge for deposits?

I think @Poutinesauce doesn't mean the initial deposit, but rather how to make regular deposits, for which those are valid options but also deposit at any Acculink ATM (generally, 95-99% of all CUs in Canada, not Meridian though as they're not on Acculink).

Cheers,
Doug
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dmehus wrote: They charge for deposits?

I think @Poutinesauce doesn't mean the initial deposit, but rather how to make regular deposits, for which those are valid options but also deposit at any Acculink ATM (generally, 95-99% of all CUs in Canada, not Meridian though as they're not on Acculink).

Cheers,
Doug
I do not think there are any Acculink ATMs in Quebec, well there might be one, as there is one single Alterna Bank in Gatineau, Quebec, although that is very far from where I live.

I just want to make sure because with Rosenort, I'm almost worried of being charged fees for breathing too heavily when using their app.

Although they still treated me far better than Access, which denied me flat out, apparently simply because I had a soft hit from Rosenort just before. I will remember it for long and never do business with them in the future. People only get one chance to have me.
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Poutinesauce wrote: I do not think there are any Acculink ATMs in Quebec, well there might be one, as there is one single Alterna Bank in Gatineau, Quebec, although that is very far from where I live.

I just want to make sure because with Rosenort, I'm almost worried of being charged fees for breathing too heavily when using their app.

Although they still treated me far better than Access, which denied me flat out, apparently simply because I had a soft hit from Rosenort just before. I will remember it for long and never do business with them in the future. People only get one chance to have me.
Sorry, that's likely correct since there are few, if any, non-Desjardins credit unions in Quebec. When I speak on RFD, I am usually referring to Canada ex-Quebec with respect to financial institution availability but should've specified that.

Also, that's one of the downsides to provincially-regulated credit unions in that they can refuse service and not have to tell a darn thing; they're not regulated from a consumer protection perspective, though B.C. and Ontario are studying that right now. The credit unions' position to that is that they more or less think things are fine the way they are. Contrast to the banks and federal credit unions which cannot refuse to open a basic bank account for you regardless of credit history or "worth" to them. If they do refuse service, such as because they're virtual and you have no credit history, you have a right to request a denial of service letter with reason(s) why through your channel of choice free of charge. In-person they must give you such a letter at the time of denial or they face stiff penalties, generally between $5,000-50,000 per instance.

Cheers,
Doug
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Poutinesauce wrote: I do not think there are any Acculink ATMs in Quebec, well there might be one, as there is one single Alterna Bank in Gatineau, Quebec, although that is very far from where I live.

I just want to make sure because with Rosenort, I'm almost worried of being charged fees for breathing too heavily when using their app.

Although they still treated me far better than Access, which denied me flat out, apparently simply because I had a soft hit from Rosenort just before. I will remember it for long and never do business with them in the future. People only get one chance to have me.
I used to refuse to do business with FI's who've turned me down, mislead me or given me bad service in the past. Now, I churn them and turn the table to inflate winnings my way.

That's how I keep score.
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titaniumtux wrote: I used to refuse to do business with FI's who've turned me down, mislead me or given me bad service in the past. Now, I churn them and turn the table to inflate winnings my way.

That's how I keep score.
Yeah, I used to be more loyal and I still am, but am losing faith in Coast Capital Savings so will likely transition away from them to Motive Financial (or Alterna) next year.

Cheers,
Doug

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