Personal Finance

Official DUCA Credit Union Thread

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  • Nov 13th, 2019 3:09 pm
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jacnel wrote:
Apr 13th, 2018 7:01 pm
Hmm then I’m thinking it’s the credit union central preventing this...
I'm glad we figured this out, very useful information. Basically, no point in getting foreign currency accounts without branch access.
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Saw another DUCA credit union member at work today, I guess there's more members out there then I thought. Surprising to see members in the Ottawa area tbh.
I like credit unions.
Member with DUCA Credit Union. Accounts with Tangerine, BMO, and EQ Bank.
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Is there a max limit for the Park savings account? I am aware that only $250k is insured? TIA.
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Is it just me or does it seem like DUCA"s rates haven't really been much better than the Tangerine promo? (equal or maybe by around 25bps tops)
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Shadow Rider wrote:
Apr 20th, 2018 1:25 am
Is it just me or does it seem like DUCA"s rates haven't really been much better than the Tangerine promo? (equal or maybe by around 25bps tops)
Similar yes, but imho they’re still pretty good promos
I like credit unions.
Member with DUCA Credit Union. Accounts with Tangerine, BMO, and EQ Bank.
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Shadow Rider wrote:
Apr 20th, 2018 1:25 am
Is it just me or does it seem like DUCA"s rates haven't really been much better than the Tangerine promo? (equal or maybe by around 25bps tops)
jacnel wrote:
Apr 22nd, 2018 12:30 am
Similar yes, but imho they’re still pretty good promos
Thinking Face DUCA seems to offer better GIC's than Tangerine. I also don't like Scotia, and would rather not leave my money with them.

@jacnel DUCA is brilliantly fast at external account linking. CSR I spoke to today mentioned they're seeing an increase in membership in Ottawa.
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titaniumtux wrote:
May 14th, 2018 2:09 pm
Thinking Face DUCA seems to offer better GIC's than Tangerine. I also don't like Scotia, and would rather not leave my money with them.

@jacnel DUCA is brilliantly fast at external account linking. CSR I spoke to today mentioned they're seeing an increase in membership in Ottawa.
Tangerine currently has a better one year GIC than DUCA but I think that's just a one off since DUCA has historically had better rates.

And they've added more members in Ottawa! That's good. So far I've only met one other Ottawa resident with DUCA (another person was just visiting). Personally I'm hoping that DUCA will open more branches across the province (like in cities near the GTA, Kitchener and Hamilton come to mind). A branch in Ottawa would be great too. Now some would say that branches are pointless in the digital age, but I argue that for credit unions it's very important, they need to get their name out there and branches are the best way to do it.

I've never linked an account before, but if it's fast that's awesome!
I like credit unions.
Member with DUCA Credit Union. Accounts with Tangerine, BMO, and EQ Bank.
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jacnel wrote:
May 14th, 2018 2:31 pm
Tangerine currently has a better one year GIC than DUCA but I think that's just a one off since DUCA has historically had better rates.

And they've added more members in Ottawa! That's good. So far I've only met one other Ottawa resident with DUCA (another person was just visiting). Personally I'm hoping that DUCA will open more branches across the province (like in cities near the GTA, Kitchener and Hamilton come to mind). A branch in Ottawa would be great too. Now some would say that branches are pointless in the digital age, but I argue that for credit unions it's very important, they need to get their name out there and branches are the best way to do it.

I've never linked an account before, but if it's fast that's awesome!
@jacnel have you closed your TD & Simplii accounts? If not, good idea to link them DUCA side. Keep some money in Simplii for free cheques and e-transfers, and you can link DUCA to Simplii and vice versa. You can link TD to DUCA but not the other way around. I wouldn't recommend keeping a TD chq account unless you're churning their premium cards, but a basic savings account with them can't hurt...not to park money but rather to get their targetted offers as they do have cool promo's time to time.

You'll also wanna move savings out of DUCA and into Tangerine or Simplii prior to their next promo, since their savings account promo's are for "new money" only.

@jacnel I know you said you're a student, but even if you have a few grand in savings, it's worth flipping it to the highest bidder since while your income is low, that interest is either tax-free or in a very low tax tier.
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titaniumtux wrote:
May 14th, 2018 3:32 pm
@jacnel have you closed your TD & Simplii accounts? If not, good idea to link them DUCA side. Keep some money in Simplii for free cheques and e-transfers, and you can link DUCA to Simplii and vice versa. You can link TD to DUCA but not the other way around. I wouldn't recommend keeping a TD chq account unless you're churning their premium cards, but a basic savings account with them can't hurt...not to park money but rather to get their targetted offers as they do have cool promo's time to time.

You'll also wanna move savings out of DUCA and into Tangerine or Simplii prior to their next promo, since their savings account promo's are for "new money" only.

@jacnel I know you said you're a student, but even if you have a few grand in savings, it's worth flipping it to the highest bidder since while your income is low, that interest is either tax-free or in a very low tax tier.
I have accounts with Tangerine, Simplii and EQ. I was with TD a year ago but I closed that account. Basically I have everything linked with EQ, so if I have to transfer money use them :). I'll probably link my accounts in the future with DUCA once I stop being lazy and send in the forms Face With Tears Of Joy.

As for transferring money for interest promos, I know this isn't very RFD of me to say but I just keep my money in my DUCA account and I don't really move it since I'm trying to build a relationship with the credit union, I find the money moving to be way too much of a hassle for benefit, and I don't want my money being trapped by holds if I ever need it in a snap.
I like credit unions.
Member with DUCA Credit Union. Accounts with Tangerine, BMO, and EQ Bank.
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jacnel wrote:
May 14th, 2018 6:13 pm
I have accounts with Tangerine, Simplii and EQ. I was with TD a year ago but I closed that account. Basically I have everything linked with EQ, so if I have to transfer money use them :). I'll probably link my accounts in the future with DUCA once I stop being lazy and send in the forms Face With Tears Of Joy.

As for transferring money for interest promos, I know this isn't very RFD of me to say but I just keep my money in my DUCA account and I don't really move it since I'm trying to build a relationship with the credit union, I find the money moving to be way too much of a hassle for benefit, and I don't want my money being trapped by holds if I ever need it in a snap.
Always push, never pull, and there will be no hold. That's why you'll want everything linked DUCA side, that way you can push from DUCA to Simplii/EQ/Tang and there'd be no hold. DUCA pushes out immediately (same day), so you may receive funds at other bank/CU as early as next business day. Lightening fast!
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titaniumtux wrote:
May 14th, 2018 8:56 pm
Always push, never pull, and there will be no hold. That's why you'll want everything linked DUCA side, that way you can push from DUCA to Simplii/EQ/Tang and there'd be no hold. DUCA pushes out immediately (same day), so you may receive funds at other bank/CU as early as next business day. Lightening fast!
Ah ok. I’m still a bit lazy though so I don’t know if I’ll ever do that on a regular basis.
I like credit unions.
Member with DUCA Credit Union. Accounts with Tangerine, BMO, and EQ Bank.
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jacnel wrote:
May 15th, 2018 8:09 am
Ah ok. I’m still a bit lazy though so I don’t know if I’ll ever do that on a regular basis.
External account transfer CU to CU happened same day for me. Never seen it that fast before.

Successfully pushed DUCA to EQ. DUCA CSR told me it often doesn't work, but I was successful in linking the account DUCA side.
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titaniumtux wrote:
May 15th, 2018 8:51 am
Successfully pushed DUCA to EQ. DUCA CSR told me it often doesn't work, but I was successful in linking the account DUCA side.
Was the push to EQ settled the same day?

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