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Oaken stores temporarily closed – read moreWe are currently experiencing longer than normal wait times on our phone lines. In order to serve you better...learn more

COVID-19 Update: Contacting us COVID-19 – The health and safety of our customers and employees is a top priority...learn more

COVID-19 Update: Contacting usCOVID-19 – The health and safety of our customers and employees is a top priority...learn more

Oaken Update

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Interest rates are staying put

On October 25, the Bank of Canada made its much-anticipated announcement on interest rates—no move for now. This was widely anticipated, in part because the Bank had already raised its key rate (the overnight lending rate) twice in recent months. The first time was in July, and the second in September. That means the rate...read more

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The big picture on retirement in Canada

A recent feature in the Toronto Star provided a wealth of information about retirement that paints an interesting picture. Based on a survey of working Canadians and retirees, the article revealed some encouraging insights: An overwhelming majority of retirees (88%) feel positive about retired life. Nearly one third said their biggest surprise in retirement was...read more

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Canada’s economy, and how it may affect you

The news about Canada’s economy has been all good lately. Encouraging employment figures, low inflation, and then the GDP numbers for May—growth of 0.6%, which is triple the 0.2% that most economists had expected. With headlines calling this “blow-out” growth, there’s no question that our economy has turned the corner from the slowdown of two...read more

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Two big moves to usher in a new dawn

If you’ve been following the financial news lately, you’ll know that our parent company Home Capital Group has been busy making a number of important changes. This includes the emergence of two key individuals in particular, who will play a pivotal role in ensuring a successful future for the company. World-renowned backing The first of...read more

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Happy 150th, Canada!

July 1 is just around the corner, and we’d like to wish everyone (and our country!) a very Happy Canada Day, on this our 150th birthday. Oaken, of course, is still a bit of a sapling—we’ll only be turning 4 years old in November. But our parent company, Home Trust, has been around for quite...read more

As you’ve probably seen, we have increased our interest rates across all GIC terms over the past few weeks. Current rates can always be found on the rates page of our website, but at the time of this publication, they presently range between 2.60% for a 1 Year GIC and 3.10% for a 5 Year GIC....read more

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Zoning in on the budget

The latest federal budget was unveiled on March 22, and as many commentators remarked, it was mainly notable for not being particularly notable. No big changes to spending or taxes, and no major policy announcements. In particular, there was no increase in the capital gains tax, which some people had speculated might happen. So all...read more