Oaken Update
There’s nothing more refreshing than hearing genuine stories from real people about the things that matter most. So if saving is something that matters a lot to you, you’ll want to check out our new YouTube channel, called Saversodes.
Saversodes is a compilation of odes to saving, and other topics related to saving—by savers, for savers, about savers. It’s an idea we came up with after noticing how much people enjoy sharing their stories and their savings journeys, as well as hearing the stories of other people on the same path. We decided to invite some people to record their experiences, and the response far exceeded our expectations. We realized we were onto something.
Spreading the message
We started Saversodes with four videos, which are available to watch now. They’re unscripted, unaltered stories from people talking about something that we all think about, to a greater or lesser degree: money. It’s quite eye-opening to see the different perspectives that people bring to this theme—from young adults just starting out, to retirees who’ve travelled a long road. And their observations and anecdotes provide great food for thought. In some cases you may nod in recognition at what you hear. In others, you may ask yourself, “How come I never thought of that?”.
We’ll be adding more Saversodes over the coming weeks and months, and we encourage you to subscribe so that you can follow the channel as it grows, and also receive notifications every time we add another story from Canadians just like you.
A better way to link your external accounts
We know that banking online is all about convenience, so we’re pleased to announce a new feature in Oaken Online Banking that will make your experience even better. In a nutshell, customers are now able to securely link their Oaken profile to their chequing and savings accounts at other financial institutions, with just a few clicks!
We’ve added this feature because it’s the simplest and quickest way for you to link your external accounts. It’s completely secure, and once they have been set up, you can easily transfer funds between Oaken and your other financial institutions any time you like.
How it works
All you need to do is log in to Oaken Online Banking, click on the “Link External Account” button which is found under the “Transfer” tab, and then follow the instructions in the new window. Within two business days of submitting your request, you’ll be able to see your newly linked account listed in Oaken Online Banking by clicking on “New Transfer” and then “From Account”.
Note that there is no fee for this service, and you can link as many external accounts to your Oaken profile as you want (so long as they are eligible types of accounts).
And of course, in case you need any assistance with this, we’re always ready to help. Just call us at 1-855-OAKEN-22 (625-3622), between 8:00am and 8:00pm ET, Monday to Friday, send us a secure message through Online Banking, or send us an email at service@oaken.com.
Vancouver ZoomerShow and in-store contest winners
The recent Vancouver ZoomerShow certainly did not disappoint. A high turnout at the Vancouver Convention Centre, in beautiful Canada Place, made it a great success. And we were very happy to see so many people, both newcomers and familiar faces, drop by the Oaken booth.
Of course, it wouldn’t be an Oaken outing into the community without a winner! Brooke Hart was the lucky person this time, having dropped by our booth and entered the draw. Brooke Hart's prize was a $250 Amazon gift card, and we offer her our hearty congratulations!
We’re also pleased to announce another winner at the same time, Judy Love, whose name came out of the draw that we hold every quarter for anyone who visits one of our stores and enters their details. Judy is now the happy recipient of a $500 GIC!
Bank of Canada interest rate decision
Ahead of the Bank of Canada’s recent interest rate policy announcement, where it decided to hold the current rate of 1.75%, we took a look at the various factors that likely would have influenced this decision. Read more here.
How the Bank of Canada manages interest rates
The Bank of Canada has a target inflation rate of about 2% each year. To manage the overall rate of growth, the Bank influences short-term interest rates, as explained in our recent feature. Read more here.
Incentives for first-time home buyers in the 2019 federal budget
The recent federal budget contained two items of special interest for first-time home buyers. See our article for details on the government’s latest incentives to help young buyers enter the Canadian housing market. Read more here.
Further reading
Hopefully it’s sunny where you are right now—in which case you’ll have to pull your screen into the shade to read our selection of links for this month, and then head out to enjoy the weather…
This article from the National Post is a great starting point for conversations about saving.
How helpful the federal government’s new home-buyers’ measures will be depends to a great extent on what housing market you’re talking about, according to the CBC.
Now that we’ve settled into the new time change, The Globe and Mail explores whether those stories about driving accidents and heart attacks after setting the clocks forward really are true.