CD Discussion Thread

CD Discussion Thread


That is from my Saturday post.

Ken posted this deal today (Monday) and it is attracting more attention and interest than I anticipated it would. As he always does, Ken posted a great many more details and more data generally than I did.

The deal is now live.


This Dimon pronouncement (see a few posts back) has been getting a BIG play in the press and is being discussed widely.

The angle I failed (above) to consider or mention is that with $21T of current debt, a $1T annual deficit, and with a $100T-200T shortfall against future promised obligations, America at the 5% Dimon forecasts will be breathing pretty hard just to meet the debt service on all those shortfalls.

A saving grace in past years was that profligate government spending could be financed at very, very low interest rates. You need to consider how the higher rates mentioned by Dimon, if they materialize, would impact you personally. To wit:

  1. Higher rates will mean more interest income resulting in higher federal taxes. And as always, beware the IRMAA!!

  2. The income from higher interest rates could be sufficient to boost you into a higher tax bracket.

  3. Inflation accompanying the oncoming new financial paradigm will mean your increased dollars of interest will buy less per dollar spent.

  4. And finally, the impact of higher interest rates on a country whose government is completely unable to rein in spending is perhaps most concerning and unpredictable of all, at least for me.


Florida-based Achieva Credit Union is offering a 60-month IRA/457B Plus (4.20% APY. $75k; 4.10% APY, $25k) and a 60-month IRA/457B, 4.00% APY ($500).

via Deposit Accounts

So who’s dumping all their retirement funds into this long term? I’ll have to consider where I have my IRA now…this doesn’t sound bad at all.


Not me but maybe I am too young for this to make sense.


Well you make an excellent point. The obvious choice for this would be folks who can already access the interest as “income” and need little to no risk of their investment.


Freedom FCU is a bad deal!!!

I applied close to 2 weeks ago. First I was asked to FAX a copy of the ACC membership & DL. Did it & was told last Wed 8/8 copies had arrived & I would gets a call. Called again Mon 8/13 & again someone would call. Haven’t heard a word.

Today, I noticed the offer 30-mo CD 3.56%, is gone from site!! Bummer of a Deal!!


Hi pattyb53

I’m so sorry you encountered such a frustrating situation. I think you are not alone. I’m a Freedom member, though I did not go for this most recent deal. However, I did follow events over on Ken’s page. As a late revision to his writeup, Ken added the following update only a couple of days ago:

UPDATE 8/14/2018: Easy membership requirement through ACC is limited to residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, or Washington DC .

That important update, of course, was posted more than one week after Ken’s original revelation of this Freedom deal! And I also was unaware of those limitations when I posted the Freedom deal here some twelve days ago. Frankly, I don’t know if those limitations were even in effect twelve days ago!

Bottom line, if you applied before the limitations went into effect perhaps they will work with you? If not I’m afraid you might be out of luck. :cry:


This is extremely limited in availability but I thought it may help some folks. It may also give encouragement on higher rates for all.

7-month, 5% CD

[MS, LA – Select Counties] Keesler Federal Credit Union 5% APY 7 Month CD – No Balance Restriction

Unfortunately, this is only good for small portions of Louisiana & Mississippi.


I just called Freedom FCU again. I explained to a rep how I have been given such a runaround concerning my application. She was quite nice & told me how busy they have been after publishing this 30-mo CD 3.56%.

My biggest point was to let them know how badly Freedom FCU has treated me. I didn’t just apply today, it has been about 2 weeks. She told me most agents had left for the day, BUT, she was leaving a note for her supervisor to follow up on my application.

So we will see if I get a response…


There is now a way for anyone to join…

“UPDATE 8/17/2018: The easy membership requirement through joining the American Cancer Society Cancer Action Network has been expanded to include all U.S. citizens and resident aliens, no matter where they live.”

More info and experiences in comments on depositaccounts site.


Pretty fantastic deal.

I called to get some more info, and I’m stuck on hold. Chat doesn’t work. They must be getting slammed.


Freedom CU has finally come through. A supervisor did call me 8/17 & again asked that I re-FAX the ACC certificate & my DL. Today my account is open. Of course this Special closes tomorrow 8/21, but I will receive the CD.

I had to rethink if I really wanted to put my money in Freedom CU after all the hazzle I had to go through, but it is a good rate. I hope I don’t regret this action. If something better comes along in a few days or weeks I will have to live with my myself… :wink:


Say: Requires Checking and Direct Deposit/Allotment


You’ve got a good memory, dude. I scrolled up about 5 screens before finally going to the top and searching. :smile:


Hey, for all you add-on CD fans out there, GTE is at it again. I happened to log into my account today and noticed this. Nice of them to inform us.:stuck_out_tongue_winking_eye: Sending a notification email to existing members is too much hassle for them??

Anyway, GTE Financial is in Tampa, as you already know. This looks akin to the various add-on CD deals they were offering some months back. I bought a bunch of 'em at that time.

Q: Shin, are the rates any good?

Well, I’m not impressed with the rates but then that is just me. Anyone interested needs to go over there and decide for themselves how the various rates look to them. A number of different terms are being offered, all with different rates . . obviously. I think add-on CDs do not make a lot of sense in a rising interest rate environment. But if you disagree, you surely are entitled to your viewpoint. And if you disagree we are in a rising interest rate environment that is fine, too.

Q: Shin, does Ken have this deal?

I cannot locate it on Ken’s blog. Maybe he does not think this is worth featuring . . . or maybe he is unaware of this offering. I dunno.


NASA Federal Credit Union is now offering a 15-month CD at 3.25% APY, 5K minimum new money.


Question… I have a few CD’s with a rate of 1.9%. I thought 2% was a decent or best rate at the time. Now with 3+% CD’s available on short term, I’m thinking of cashing them in & taking the penalty. The first old rate CD’s will mature early in 2019.

What are other feelings on this matter?


it all depends on your net gain. The penalty is effectively a fee on the new CD. The higher rate (the difference between what you earn now and what the new CD will earn) is either more that the penalty, or it isnt. It’s a pretty simple decision, but based entirely on your specific details.

But be sure to only calculate this through the maturity of the old CD, not though the maturity of the new CD. If your existing CD matures early 2019, the penalty is only buying you the higher rate from now until early 2019 (at which point you can get prevailing rates without paying any penalty).

The only other wildcard is if you think rates will decrease before your existing CDs mature, so there’s added value in locking in the higher rate now. But it also cuts the other way, if rates continue to rise.


Fahey Bank (Ohio) is offering a 4% certificate of deposit. But calm down:

There are quite a few strings attached!

Q: Shin, with all the strings, why even bother to mention this?

Because for some people the strings might be less burdensome than for others. Strings are an individual thing.

Q: Has Ken posted this deal?

I think not yet. But I believe he will post this very soon. 4%, even with strings, is noteworthy.

Q: Shin, can you at least provide a link to their website?


Fahey linky

There also is more information here:

Link to more information


I’ve decided to leave those 1.9% CD’s alone until maturity in early 2019. But I have 2 large CD’s that I purchased in 2015 that mature 10/1 & 10/8/2018. These CD’s are with Northwest FCU & are paying 3.04%. Anyone else have these CD’s? This was an outstanding rate in 2015, in fact not a bad rate right now.

shinobi, at the end of the month or first of October I will be in the market for a good rate. Looking for 4%+ short term. The bank you were just discussing is 4% for 4-5 years with so many strings attached is not what I want. But I’m following all of your posts. I don’t know where you find these good deals, but keep on posting, I’m in the market. :wink: