Conexus

[Hopperbin]

Got the loan renewal from Conexus today.
1 year open 10%
1 year closed 7.1%
2 year closed 7.75%
3 year same
4 year closed 7.95%
5 year closed 8.25%
Last couple of years when I came in to visit the loans officer he punched into the computor and said I was able to have floating at prime so right now I have a loan at prime. Not sure about this year yet. But what a bunch of crap they mail you this renewal and don't show what the floating rate is and if you do not respond you get the 1 year open at 10%.
What are others finding rates at?
Certainly no half over prime fixed anymore here.

[BreadWinner]

F.C.C. floating 4.25%

[SASKFARMER3]

One other thing each major bank has a different prime rate. BofM is higher than most. But FCC has the best rates out their now. Remember when you move your not purchase money now on that piece of equipment your protection is lost. but 10% to 4.25 or less on 100000 is savings of $5750.00 they can keep their dividends.

[stubblejumper]

not everyone gets the same rate

[FarmRanger]

nor should they.

[Hopperbin]

But don't mail someone a renewal of 7.1%
jfhc when 4 should be the deal. How many people don't check and deal. I way surpass the requirements and collateral.
Well they are 6.5 on a one year after a phone call along with excuses such as bonds and crap I don't understand and why should I give a rats ass.

[Hopperbin]

Breadman does What does FCC offer on one year terms?

[Hopperbin]

I much better like what I am used to.
Get a letter in the mail and they state loan will come due on such a date.
Conexus get a letter and if you are stupid you sign it and get screwed. I just hope Conexus is hearing this.

[TOM4CWB]

Hopperbin....

Why are you complaining?

You have choice.

Not like the CWB where we get thrown in jail if we try to get better services from competitive providers elsewhere!

ANd western Canada has Credit unions and Treasury Branches that provide even further arbitrage opportunities to financial services at fair prices!

We have the best financial system on the planet here in Canada! Thank God Chretien didn't believe in big bank monopolies... and wreck our banks!

[Hopperbin]

I am complaining because a financial institution mailed we a renewal that is getting tossed into the garbage. Wish they could mail me a renewal with the real numbers. Your correct I do have a choice.

[BreadWinner]

Hopperbin, I have been dealing with CU for my whole life. Then I decided to get a quote from FCC, then my Credit Union decided to match the interest rate. Well this happened a couple of times them I got tired of being jerked around. So all my new loans go to the lender with the best rate. FCC has consistantly had a better rate then CU by 1 to 2 percent. Better yet land loans dont have to be over secured with extra collateral if they sell over the average selling price. If your loan renewal doesnt please you take it to you FCC agent and ask them how much better they can do. You will probably have to give them a load of info but IT MAY SAVE YOU THOUSANDS. Once they have your finacial situation figured out then it is only a matter of keeping it up to date. Seems like a hassle but it is just the way things work today. Banks tend to make you feel like you need them, but it is actually the opposite, they need you to make money. If it wasnt for you they would be BROKE.

[TOM4CWB]

Breadwinner,

The Paradox of the CWB... is if they had proper management... that was transparent... like the FCC... (in a choice environment)... the CWB COULD provide simular services to what FCC provides to our financial system.

It is pure folly... for the CWB to insist... that it cannot be competitive... in a choice market place.

CWB management... are just COWARDS... spoiled brats.