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Welcome to the Synergy Solutions Centre!
Just click on the one of the questions below and you'll get a simple answer. If the question you have doesn't appear on this list, feel free to ask us and we'll be happy to help you in any way we can.
You can "search" through the questions and answers by entering keyword(s) into our search box. Or you can categorize the questions listed by a category name, such as borrowing or wealth services, by selecting one of the categories from the drop-down menu from our main page. You can also comment on each of these questions by providing a comment on our answer, where we could provide additional answers.
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The Synergy iSave products are designed to earn an interest rate (rate of return) that floats with Prime Rate. And as you probably are aware, prime rate does change from time to time to reflect the current rates in the marketplace.
To keep informed of rate changes you have four convenient ways ... more...
The Canadian banking system is held in high regard world over. This is due in part to the high standards and regulations adhered to in our Canadian banking system, and the safeguards in place to protect Canadians. Your question however asks what would the government do in a worst case scenario. Th... more...
All our economies regional, national and international have influences on each other. It is the role of The Bank of Canada to protect and guide our country s economic system, and that includes keeping a close eye on what is happening in other countries and setting its prime rate accordingly.
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The short answer is that banks and credit unions are affected the same by Bank of Canada interest rates.
Usually, when the Bank of Canada drops or increases its rate, banks and credit unions follow suit and adjust their prime rate by the same amount. On rare occasions, banks and credit unions w... more...
This is on our priority To Do list. Currently, Synergy is working with our third party supplier to have live exchange rates available on our website. To date, this valued feature is not available to us and we have no estimated timeframe as to when it will be implemented. Stay tuned.
For now y... more...
This is on our priority To Do list. Currently, Synergy is working with our third party supplier to have live exchange rates available on our website. To date, this valued feature is not available to us and we have no estimated timeframe as to when it will be implemented. Stay tuned.
For now ... more...
For up-to-date rates click here . To ensure you are maximizing your retirement portfolio, you might want to talk with one of our investment specialists. It never hurts to review your options, and the service is free at Synergy Credit Union. more...
This question is similar to one we answered previously on our Synergy Solution Centre (see the question - " Why is the spread between the Bank of Canada rate and your prime rate getting bigger and bigger? ") so hopefully that response will provide the clarity you want.
Technically, the spread... more...
The short answer is that all our economies regional, national and international all have influences on each other, including mortgage and loan rates. That was dramatically illustrated by the economic turbulence of the past twelve months. The Bank of Canada exists to protect and guide our country... more...
Technically, the spread between the prime rate and the Bank of Canada rate has not changed but what has changed is what we charge on loans relative to prime. This allows us to pay our members more on deposits relative to prime. That s good news for people who are trying to save, especially when t... more...
Interest rates are influenced by our regional and national economies, the rates as set by the Bank of Canada, and the fluctuations in the global marketplace. That said, Canada has, to some degree, avoided the majority of impacts experienced by many other countries during this current global recessi... more...
Interest rates are influenced by our regional and national economies, the rates as set by the Bank of Canada, and the fluctuations in the global marketplace. That said, Canada has, to some degree, avoided the majority of impacts experienced by many other countries during this current global recessi... more...
Interest rates are influenced by our regional and national economies, the rates as set by the Bank of Canada, and the fluctuations in the global marketplace. That said, Canada has, to some degree, avoided the majority of impacts experienced by many other countries during this current global recessi... more...
For now, you can call our Member Contact Centre for the exchange rate calculations. Our Member Contact Centre is conveniently open Monday to Friday, 7 A.M. to 8 P.M. and from 7 A.M. to 3 P.M. on Saturdays. You can call there toll-free 1-866-825-3301. In the coming months, we will have a new release... more...
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