Changed all my direct deposit info and officially closed my Scotiabank account. I made sure to tell them I was closing my account due their endless greed! I'm free and I feel great :razz:
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Changed all my direct deposit info and officially closed my Scotiabank account. I made sure to tell them I was closing my account due their endless greed! I'm free and I feel great :razz:
Yeah, I'm with Meridian and had to pay for a member share to make me part of the credit union. For them, it is a one time fee of $1.00 so you have a stake in the credit union. I was told once you leave (i.e close your accounts), you are given back the $1. But other credit unions may be different from Meridian
Ya mine was a one time fee of $5 and same thing once I leave I get my $5 back.
I was adding my bill payee's last night and I couldn't find BMO Investorline on their list, so I sent my CU an email last night asking if it was possible to have them added to the list. I got an email this morning from my CU saying yes we will have that added to our list in a few days... Wow talk about great service.
As a credit union is member run, everyone pays a basic member share price. When you leave the CU, you apply to sell your share back to the CU.
If you are familiar with Mountain Equipment Co-op, that retailer sells shares to customers (who want MEC member prices) and mails them AGM and other information and sends catalogues. When I wanted to give my $5 share back, I had to send my membership card to the Vancouver HQ for redemption. I got a cheque for $8.-- as my share had increased in value. Had to wait some weeks though.
Make sure you read the member share rules on the CU site so you know how the share return/redemption process works.
President's Choice Financial & Tangerine....two NO FEE banks (regular everyday banking). Banks to truly consider! I've got both, one for everyday stuff (PCF) & one for savings & investments. Tangerine has top rated portfolio's that are rebalanced yearly according to your risk level, without ever having to lift a finger. The funds are very much equity & follow the theory of the Canadian Couch Potato. (great stuff btw) All in all, PCF for every day banking with no fees & free checks, & Tangerine for long term growth & savings. Voila! Done! :) IMHO only of course.