Has anybody heard about the new DND Bank? I have seen ads?

[NCRCrow]

Any comments or a link would be great!

Crow

 

[BOSNwife]

Here's the link:
http://www.cdcbanking.com/a/home/homePage.page

 

[NCRCrow]

Thanks..Have a Happy Thanksgiving

Crow

 

[Gunner]

If you have access to the DIN, there is a CANFORGEN out on this issue.

 

[x-grunt]

Does this somehow benefit the CF? Except for the $5 fee, this is pretty much identical to the President's Choice free banking right down to the same interest rates and ATM's. Same people offering it too, it's a subsidiary of the CIBC.

Although I like the idea of CF friendly services, I don't really see any real benefit here for CF members. At least with PC Financial you can get free grocery points and it doesn't cost you $5 a month.
Did I miss something?

 

[NCRCrow]

I do not see the utility of switching over all your pay and allotments over. What a headache and more work for your friendly RMS Staff.

It looks like CIBC with a DND Storefront.

Might be good for somebody just joining!

 

[George Wallace]

With my past experiences with CIBC, I am now "turned off".  B of M was much worse, though.  :

 

[NCRCrow]

GW:

This might be a total shot in the dark.

But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)

I remember all the Bases having the good old credit union.

Most of them closed but Petawawa's. I used to love the Credit Union as they would always give u a loan. (CFB Kingston--payday loans--cost u 5 bucks.)

Dockyard Credit Union had the famous 500 dollar weekender.....

Those were the days!

 

[Franko]

Here you go.....UNCLASSIFIED:

CANFORGEN 139/05 ADM(HR-MIL) 067 061803Z SEP 05
CANADIAN DEFENCE COMMUNITY BANKING
UNCLASSIFIED



THE CDS IS PLEASED TO ANNOUNCE THAT THE CANADIAN FORCES HAS ENTERED INTO AN AGREEMENT WITH THE CANADIAN IMPERIAL BANK OF COMMERCE TO PROVIDE COST-EFFECTIVE BANKING SERVICES TO SERVING AND FORMER CF MEMBERS, DND PUBLIC SERVANTS, RESERVISTS, NPF EMPLOYEES AND OTHER AUTHORIZED PATRONS


THIS PROGRAM, CALLED THE CANADIAN DEFENCE COMMUNITY BANKING PROGRAM (CDCB), IS DESIGNED TO MINIMIZE THE TURMOIL SURROUNDING CHANGING FINANCIAL ARRANGEMENTS ON POSTING OF CF MEMBERS WHILE PROVIDING A BROAD RANGE OF BANKING SERVICES TO AUTHORIZED PATRONS. THIS ACCOUNT IS DIFFERENT IN THAT IT WILL BE AN ACCOUNT ACCESSIBLE NATIONALLY, NOT ONE LINKED TO A LOCAL BRANCH BANK. A SINGLE NOTIFICATION IS ALL THAT WILL BE REQUIRED TO EFFECT A LOCATION CHANGE


THIS PROGRAM INCLUDES A BROAD RANGE OF PRODUCTS AND SERVICES INCLUDING A LOW COST $5/MONTH CHEQUING ACCOUNT, LOW RATE MORTGAGES THAT CAN MOVE WITH YOU, LINE OF CREDIT, GICS AND A SAVINGS ACCOUNT WITH BETTER THAN AVERAGE RATES


INFORMATION PAMPHLETS WILL BE SENT TO BASE/WINGS/UNITS AND WILL BE AVAILABLE AT CANEX, THE GYMNASIUM, THE SISIP FS OFFICES, THE NPF ACCOUNTING OFFICE AND AT OTHER LOCATIONS


THE NATIONAL ROLLOUT TO BASES/WINGS/UNITS WILL BEGIN IN SEPTEMBER, AND MAY INCLUDE VISITS BY CDCB BUSINESS DEVELOPMENT MANAGERS (BDM). PERSONNEL WISHING TO JOIN NEED NOT WAIT FOR A BDM TO VISIT A BASE/WING/UNIT, BUT MAY JOIN THE PROGRAM BY PICKING UP AN APPLICATION KIT, PHONING 1-866-808-9933, OR VISITING WWW.CDCBANKING.COM AND DOWNLOADING AN APPLICATION


MORE DETAILED INFORMATION ON HOW TO APPLY IS AVAILABLE DIRECTLY FROM THE CDCB WEB SITE AT WWW.CDCBANKING.COM , THROUGH THE LINK ON THE CFPSA WEB SITE AT WWW.CFPSA.COM , OR BY CALLING THE CANADIAN DEFENCE COMMUNITY BANKING PROGRAM TOLL FREE AT 1-866-808-9933

Hope that helps

Regards

 

[NCRCrow]

Thanks , I still think its a sham!

 

[George Wallace]

But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)

The B of M in Lahr was actually an American Bank who contracted out to B of M (or something along those lines), and wasn't really part of Bank of Montreal; sort of a 'franchise'.

The B of M used to be in Pet, but they got kicked out and the Credit Union moved in.  I think the Credit Union is gone now too.

I remember all the Bases having the good old credit union.

Most of them closed but Petawawa's.

I really don't see any problems.  I've dealt with the TD and have been Posted several times with no interruptions to my Banking.  I really do hate the Big Canadian Banks "Service Charging" us to death.  CIBC is really getting my goat now with my Savings Acct. and the Investments I used to have at Midland-Walwyn, who sold out to Merrill Lynch (who decided they weren't making enough money in Canada), who sold out to CIBC who is now Service Charging me on my Stocks purchased over ten years ago (Darn Stock Crash).  No, not too many of Canada's Banks have any compassion for the little guy.  It is all for PROFIT, so a partnership with the Devil may not be a good thing.  Check out their Service Charges and then make your decision.

 

[Fishbone Jones]

I'm wondering if those same people that have the CANEX shares are also the people behind this latest venture? I also wonder if, like the BofM in Germany, they'll be contacting your Unit when your .50 cents overdrawn?

 

[Zoomie]

I don't really understand the virtues of this new deal...  At RBC I can access my account nationally, either via ATM or teller (at any branch) - why would I pay $5 for this when it is already part of the digital world.  My account has remained at my Mississauga branch since I joined, I haven't had any real problems.  What a waste of someone's time and effort!

 

[NCRCrow]

I totally agree, I was thinking of all the planning, conferences, NDHQ TD's ($$$) and finally a CANFORGEN which somebody had to write, just to get this off the ground.

This is a global marketplace. I pay my bills at sea via the internet.

Redundant.com

 

[George Wallace]

Seems we had a thread here that mentioned something like this a while back....perhaps someone took the idea and ran with it?  A discarded idea from Army.ca put into practise.... ;D

 

[Old Ranger]

  A discarded idea from Army.ca put into practise.... ;D

Maybe we should create a "Special Discard File" to help the Troops.

 

[Sig_Des]

I've looked at the service CIBC is offering, and I don't really see any advantage. As someone who's worked in Banking for a while, it doesn't really give you anything better than whatever you may currently have. I know it's not beneficial to switch from my RBC account to this.

As far as what may appeal to military members, the national access part means you wouldn't have a home branch...I know all my statements still say "Oromocto RBC" because that's where I started. This service the main branch for CIBC would be yours..

The only thing that might be of interest to military members is the possibility of transferring your mortgage elsewhere...I'm not sure how they'd do it, and as I don't have a mortgage, don't particularly care.

I know I previously floated the idea of a military-aimed Credit card, but this doesn't seem to include that

 

[Pencil Tech]

President's Choice is also CIBC and you can do everything they offer with no fee. Relocations are too easy with PC because you're not tied to any branch.

 

[Old Ranger]

How does anyone feel about "ING Direct"?

 

[Recce41]

Remeber the BofM in Lahr, and Patawawa, folded. Anything that is close to CIBC. NO