Oaken Update – March, 2016

Booking an appointment with us is now even easier!

Spring is just around the corner, and that means warmer weather and lots of growth. Oaken is continuing to grow too. This month we launched a great new website feature that for some will make interacting with Oaken easier than ever. Now you can book an appointment for both of our Toronto and Calgary stores just by visiting our website!

To use this online tool, simply go to either our Toronto or Calgary location page, and click on the orange leaf icon that says “Appointment”. From there you can provide us with an idea of what we can help you with, and then select your preferred date and time from the list of available openings. After you’ve submitted your name and contact information, you’ll receive a confirmation email with all the details, and also a reminder email the day before you’re due to come see us.

Of course, you still always have the option of booking an appointment for any of our locations over the phone, or via email at service@oaken.com. Or you can also just drop by at any time. We’re always ready with a smile and a cup of coffee, and we love nothing more than seeing customers both old and new.


Changing maturity instructions is now at your fingertips!

We also wanted to tell you about another upgrade that you may find very useful—the ability to change your GIC maturity instructions whenever you like, with just a few clicks!

Through Oaken Online Banking, you can decide whether you would want to renew it for either the same term or a different term. Or if you’d prefer to have the funds paid out instead, you can choose from several options for how you’d like to receive the funds.

This is a great feature for anyone who manages their investments online. Especially when you have multiple plans, it can be hard to keep track of when they are maturing, and what will happen to them when they do. It can also be an inconvenience to alter the current instructions should they no longer meet your needs.

With our new online capability, that all changes. Simply choose the GIC from your home page or Account Management section in Online Banking, and then select from the various options. Your new instructions will show immediately, and you can come back to modify this again as many times as you want!

A few details you might be wondering about

  • For renewals, you will automatically receive the interest rate in effect on the maturity date for the term you selected, and instructions can be changed up to two business days before.
  • For redemptions, you can update the instructions two business days before if depositing to your Oaken Savings Account, five business days if transferring to another financial institution, or 21 business days for a cheque.
  • Cashable GICs can be redeemed in full just by clicking the icon.
  • If you’re looking to move funds from a registered GIC to another financial institution, please note that you’ll still need to complete a transfer-out form.

Please refer to the FAQ section in Oaken Online Banking for more information. Or if you’re not yet set up for Online Banking, simply get in touch and we’ll be happy to help you with that.


An update from Parliament Hill

As we posted in our Oaken Blog last week, the 2016 federal budget highlights included changes to both the Old Age Security and Guaranteed Income Supplement benefits, among a variety of other measures set to be introduced.

Positioned as an attempt to boost the economy, the budget followed through on the government’s pledge to dramatically increase infrastructure spending. Over the next ten years, the government intends to spend $120 billion to fund public transit projects and other large-scale initiatives.

The budget also took steps to address growing unemployment in Western Canada and other areas impacted by the decline in resource prices. Changes are coming to the Employment Insurance program that will reduce waiting times, and in some cases even extend the time in which claimants can receive insurance benefits.


Vancouver zooms into spring

Spring always comes a bit earlier to Vancouver than the rest of the country, and we definitely felt it at the Vancouver ZoomerShow held recently. There were large, happy crowds at Canada Place on March 19 and 20, and they enjoyed music, seminars and a generally upbeat event that unquestionably put the winter behind us.

As always, we welcomed a lot of people to our booth, both newcomers and old friends. We heartily recommend the ZoomerShow, which we’ve been attending for years now, and look forward to seeing more of you at the upcoming Toronto show in October.

And once again, it’s our pleasure to announce our regular Oaken prize draw. The winner from this past show was Connie Chu of Vancouver, BC, the proud owner of a shiny new $500 GIC from Oaken. Congratulations, Connie!


Spring reading list

Yes, spring is here, and you’ve probably got lots to do, so we’re keeping your reading list this month short and sweet.

 

This post is intended for informational purposes only. It is not to be considered financial advice. Always do your research before making any investment decisions.

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