Oaken Financial security

Ychanceit wrote: ↑ Hey RFD community

Before I go and lock up a bunch of money with Oaken Financial (seemingly best 1yr rate for TFSA GIC) was there some talk about their stability recently? They are CDIC but would rather avoid the hassle..

Noting to worry about if your $$ under 100K . They do have 2 cdic so basically 200K and you have the backing of Warren Buffet, CHMC and CDIC

agit wrote: ↑ Noting to worry about if your $$ under 100K . They do have 2 cdic so basically 200K and you have the backing of Warren Buffet, CHMC and CDIC

How fast does one get ones money if a bank does collapse and do you get the principal plus interest or just principal?

Ychanceit wrote: ↑
How fast does one get ones money if a bank does collapse and do you get the principal plus interest or just principal?

At most within days and in most cases, they just takeover operations and there is no change in accessibility. The deposit and interest is both covered.

xgbsSS wrote: ↑ At most within days and in most cases, they just takeover operations and there is no change in accessibility. The deposit and interest is both covered.

Thanks!

Also, I like your picture of Krieger, it's too bad that show is starting to run out of steam but I think this is the last season anyway.

The parent company of Oaken, Home Capital has been showing signs of improvement, they are slowly improving their financing terms. You'd have to wonder about them if Trump pulls the US out of NAFTA and that triggers a significant real estate market correction here.

https://www.theglobeandmail.com/busines ... t-funding/