1st Choice Savings and Credit Union Introduces Linked-to-Prime Savings Account

1st Choice Savings and Credit Union Introduces Linked-to-Prime Savings Account at 3.70%

Lethbridge-based 1st Choice Savings and Credit Union is letting members relax this summer and avoid worrying about interest rates with their innovative Prime-Time High Interest Savings Account.

 

The new linked-to-prime high interest savings account launched on July 11th by 1st Choice Savings allows members to earn bonus interest tied to the Canadian bank prime rate between July 11th and Thanksgiving (October 10th). Deposits are fully insured by the Credit Union Deposit Guarantee Corporation.

 

“With the uncertainty of the current economic climate, our goal was to give our members one less thing to worry about” said Jason Sentes, President and CEO at 1st Choice. “The message to our members is simple, it is to go out and enjoy your summer, knowing that if savings rates go up, so will yours.”

 

Accounts can be opened securely online from your computer or mobile device in under 5 minutes with 1st Choice Savings account opening technology, delivered by ASAPP OXP, which includes biometric identity verification.

 

The current interest rate on the Prime-Time High Interest Savings Account is 3.70% (0.75% regular HISA account rate + 2.95% bonus HISA account rate). However, the bonus rate is expected to increase this summer with forecasted Bank of Canada policy rate increases at upcoming rate setting meetings in July and September.

 

Deposits can be made by any Alberta resident 18 years or older and the bonus interest rate is applicable on the first $100,000 of deposits per member (joint membership is subject to $100,000 maximum as well). Full terms and conditions can be found at 1stchoicesavings.ca.

 


 

About 1st Choice Savings and Credit Union

 

1st Choice Savings and Credit Union LTD. is a full-service financial institution based in Lethbridge that offers everything a bank can offer, and more. The banking alternative for southern Albertans, 1st Choice Savings and Credit Union serves approximately 17,000 member-owners and brings more than 75 years of history serving the families, agricultural operations, and small businesses that make up southern Alberta.

 

About ASAPP Financial Technology

 

ASAPP delivers Custom Experience Software and Platform Strategy Solutions that create sustainable competitive advantages for regulated financial service providers as they compete against direct-to-consumer fintech solutions. ASAPP OXP is Canada’s most complete omnichannel experience platform for the financial services industry.

Monday | July 11, 10:11 AM
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