CD Discussion Thread

CD Discussion Thread
0

#264

Yes, I still have a nice AgFed fund that is paying 2.50%. I’ll keep this one & hopefully one day AgFed will have another good offer.

I also like the idea of a 50-50 deal with those waiting funds I have coming along. But new deals are not good enough % rate to make me shout. So what to do?? Best CD’s I see 9mo 2.75% or 15mo 2.80%. (No 3%'r)


#265

shinibi, I now have the cash money from the matured Navy CD. (or have it in Alliant, ready to ACH)

I think the best deal for me would be the Andrews FCU, 9-Mo 2.75% CD. Decisions, Decisions!!


#266

That is a very good interest rate for just a nine month commitment.

Wish I could tell you where things will stand next April. I simply cannot.


#267

Discover has upped their 12 month CD to 2.25%. Sadly, they also upped their EWP to 6 months interest. I’ve updated and re-sorted the wiki.


#268

Added two new ones to the leader board - Bank5 Connect and Colorado Federal. Other minor updates.


#269

Union Bank has a nationally available 18-23 month CD at 2.75% APY; $10k minimum deposit, $1 million maximum deposit


#270

Word on the street says Popular Direct is offering a five year CD paying 3.25%APY.

This is merely a notice; this is not a recommendation.


#271

Thanks shinobi…

I would normally take a look at the offer from Popular Direct. But, I remember you saying that we might get something BOLD in November. So for now I’m keeping liquid money in Northern Bank savings 2.26%. Plus, I really don’t want to go to 5 year CD’s. (unless a 4-5% offer)


#272

I want to apologize to my fellow participants here for having posted, above, the Popular Direct item. What was I thinking!!!

Ken just let these guys have it in an extension, dated today, of an earlier blog entry. Scroll down and read beneath “MY TAKE” in his post.

Ken’s latest on Popular Direct


#273

shinobi, you don’t need to apologize for your post.

Like others I did go ahead & move funds into Popular Direct 2% savings. But then I noticed all the hellabalu & rucus (sp) concerning their putting a freeze on withdrawing funds from the account. I decided to take my money out & run. BUT, I had to leave $500 in the account for 6 months & that will end in October 1018.

So that’s my follow-up to “the Popular Direct item.”


#274

CD Bank is offering a 24 month CD for 3.00% APY. The minimum deposit is $10k, with no stated balance cap.


#275

A heads up here for fellow holders (if any) of the Bellco CU (Colorado) Index Advantage CDs:

As you may know, current indication is for quarter point rate increases at the September and December FOMC meetings later this year.

The December meeting, which takes place prior to Christmas, is just fine.
No worries at all. :grinning:

It’s the September meeting which might, or might not, be problematic. This is because the announcement will happen on September 26th. The 26th of each month is a pivotal day for our CDs, as you may already be aware.

I cannot recall whether the point of rate adjustment determination is at the beginning or end of the day. But in any event we will be cutting it close in September and, if we lose, it will cost us a full month of boosted interest. Personally, I’m hoping for the best.

In any event these CDs have surely worked out well so far and prospects going forward continue to look good, even now.


#276

shinobi, I remember you have talked about Bellco CU index Advantage CD’s in the past. Sounds like you have been happy with Bellco…

You have my interest now, so I checked Bellco CU site. They are advertising 2.5% 13-mo CD. So as I read, you hang tight until September, if rates go up they increase the rate on your CD. Right…

I opened the Andrews 2.75% 9-mo CD. Which I figured was a good bet now. So with Bellco you would probably get an upgrade in September, if the Feds raise rates.


#277

Make sure you read this so you understand the positives and the negatives of index advantage cd’s. https://www.bankrate.com/banking/cds/index-cd-may-boost-returns-but-add-risk/


#278

Oh my goodness. Did not anticipate or see coming reactions to my earlier post. Was only trying to offer a heads up regarding the date anomaly of the September FOMC meeting and the rules of the Bellco CD. Nothing more. Specifically:

While Bellco is fine by me and has treated me OK, I am surely not suggesting or recommending their CD products in general. Neither was I promoting index CDs in any way. The Bellco Index Advantage CD in particular has not even been available for (very roughly) one year! My post was intended to inform existing owners of this CD.

All of that said, I will now diverge from my original topic to say:

I have researched index CDs a bit. I would not touch most of them with a ten foot pole!

The Bellco Index Advantage CD, back when it was available in 2017, I viewed differently. I even searched for other similar index CDs back then . . . and found none! This was much to my disappointment.

The key with the Bellco product was that it is indexed to the Federal funds rate. I thought back then interest rates would increase. I knew if I were right that the interest rate on my Bellco CD would also rise. This has worked out really well. If the anticipated additional 2018 Fed rate increases materialize, my CD’s interest rate will jump to 3.7% APY. That is not Sharonview. But I can live with 3.7% considering I originally invested the funds back during the first half of 2017.

So why the negative comment about index CDs generally? Well, it all depends on the index basis. I have no clue about the future of the stock market or the price of gold or other such bases for the variety of index CDs out there. I did believe, over a year ago, that interest rates would rise; and I was willing to roll the dice on that belief alone. And bear in mind that if interest rates turn around and fall, so will the return on my Bellco Index Advantage CD. But they started me out at 2.45% APY which was a decent return last year. So I decided to take my chances. However I’m certainly not suggesting anyone else do the same . . . . unless you possess insight I do not have.


#279

Decided to go with Home Loan Investment Bank, 18-month CD, 3,15%. Nationwide online application was quick & easy, took about 15 minutes. Received acct # immediately after app process completed.


#280

USSFCU has raised the APY on larger ($60K and up) CDs to 3.53%.

Joining USSFCU can be free if you take advantage of their deal for free membership in the VACC, by using the Promo code found here:

Join for free

Course you could join for free now while their deal is on and then NOT buy the CD. These guys have high CD rates generally to where membership might make sense in the future, if rates continue to escalate.


#281

Whats the term to get the 3.53%? If you are a member of Andrews Federal you probably already joined the American Consumer Council which is also a valid in for this credit union. I couldn’t find their posted rates. Maybe looking in wrong place.


#282

The term to get 3.53% APY appears to be five years. No thanks.

https://www.ussfcu.org/personal/savings-accounts/share-certificates.html


#283

Correct. USSFCU appears to be among the leaders today regarding five year CDs. As I suggested earlier, those disinterested in today’s offering might want to join anyway using that promo code. If the USSFCU rate reaches 4% I expect many persons will be joining. Better already to have become a member at that juncture . . . . which you can accomplish today gratis regardless what happens going forward.