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Credit Unions [Ontario/GTA]
(lemmy.world)
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this post was submitted on 08 Sep 2023
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I'm with Meridian as well as their subsidiary Motusbank. Haven't had any complaints since I switched in 2019. In Ontario they're regulated as non-profits which is likely why you instantly get higher savings interest rates, lower loan rates and lower fees. Their customer service has been a breath of fresh air compared to TD and CIBC which I've used previously. Their CSR center is here in southern ON. I don't recall which city exactly.
I recall when switching their mortgage rates were a bit lower than the employee mortgage rates at TD at the time.
I'm only using their consumer checking/saving/mortgage services. I can't say much about what else they've got. I know they offer VISA CCs. They looked alright when I checked them. I don't recall if they were among the best or not.
@avidamoeba @totallynotarobot
I second Meridian, really like their customer service. However, I'm really not a fan of their updated account fee structure (as of Sept 1), they're not that competitive with the new fee structure as it kinda copies the Big Banks but w/ less features incl.
Depending on what your needs are, Alterna Savings & DUCA may offer you a better deal. Though I can't vouch of their customer service as I haven't used Alterna much & haven't used DUCA before.
Honestly, for spending and savings accounts I don't think you can beat no-fee online banks. I've checked out local credit unions a couple of times over the years. The fees were always higher (and not much lower than the big 5) and the savings account rates were lower.