Oaken Update

News, investment tips, events and promotions – you’ll find it all in the Oaken Update!

Online financial planning

September, 2015

No matter what stage of life you find yourself at, you should have a financial plan. And that means you need to be informed about financial planning. Even if you’re a hands-off type who prefers to leave it all to a professional, you still need to know what kinds of questions to ask, and how … read more

Commercial Online Banking is here!

August, 2015

You’ve told us how much you appreciate being able to manage your personal savings online, so we’re delighted to announce that this is now a reality for our Commercial customers as well. As you may expect, it offers all the same features as our existing Online Banking. You can look at current savings and investment … read more

RIF withdrawals—new changes starting in 2016

July, 2015

As we noted in an earlier Oaken Update, the rules around RIFs have changed. Previously, retirees had to withdraw a minimum of 7.38% of their RIF (if opened after 1993) in the year they turn 71, with the percentage rising regularly in subsequent years. Now, the minimum withdrawal for holders who are 71 is at … read more

We’re blooming again…

June, 2015

As it’s the growing season, it’s only appropriate that we’re continuing to blossom too! On Monday, we’ll be opening our second Oaken store—this one in downtown Calgary, at 517-10th Ave. SW. You may remember that we launched our first store only last month, in the heart of Toronto’s financial district. It has gotten off to … read more

Our first store—now open for business!

May, 2015

As we mentioned last month, we’re changing the way Canadians view banking. Our brand-new Oaken store is a big part of that and we’re happy to announce that it’s now open for business. Located in the heart of Toronto’s financial district, the store began welcoming the public on May 11. Many of you, of course, … read more

We’ve got great things in store…

April, 2015

At Oaken we’re all about personalized, friendly service, and we’re always looking for ways to make good on that promise. That’s why we’re delighted to announce the opening of our first Oaken store, in the heart of Toronto’s financial district. The store will be completely different from that of any typical bank branch, replacing a … read more

Online applications are now really online!

March, 2015

We’ve had “online applications” for some time now, but we’ve recently improved them—so that they are truly online. Previously, our online applications were simply PDF forms that you could download and print out—which obviously meant you had to bring or send them to our offices. Now our application forms are also fully electronic, and you … read more

RSPs—the clock is ticking…

February, 2015

If you plan to contribute to your RSP for the 2014 tax year, the time to do so is now. Monday, March 2 is the 2014 deadline. To recap the RSP basics: You can contribute up to 18% of 2013 earned income, to a limit of $24,270. You can increase that limit by any unused … read more

It’s that time of the year—your TFSA is calling

January, 2015

January is the time for New Year’s resolutions: make contributing to a Tax-Free Savings Account (TFSA) one of yours. After all, TFSAs are one of the best savings vehicles Canadians have—and for many people are even better than RSPs. The basic rules are simple. This year you have $5,500 of additional contribution room. That brings … read more

The most wonderful time of the year!

December, 2014

With the holidays now upon us, it’s time to celebrate and enjoy the company of family and friends. We just wanted to add to the cheer with our own seasonal greeting, so from all of us at Oaken … read more