CD Discussion Thread

CD Discussion Thread


Great Lakes Credit Union has a 7-month CD paying 7% with a $7k max. $1k minimum. Hard pull. Open to all if you choose “Not listed - Let us help” when it asks for your affiliation. You’ll need to open a share savings account with $5 minimum first. Promotion ends November 30th. I applied, but my application is pending.

Credit to Doctor of Credit:


What about Provident CU 18-mo 3.01%. First look, not bad, but then again I’m still hoping for 4%.


The Connexus 4% CD deal has died a mean and ugly death.

RIP: Connexus 4% CD deal

Just for the record: I never went in


Information only…

For any of you that got in on the United Bank 19-Mo Flex CD 3.15%. (offered last month) I just called to open a savings acct to set up ACH transfers. You cannot use a transfer to add funds to the acct. You must snail mail a check with instructions.

With rates not so good now, I thought I might use this 3.15% CD to place funds later in December. Sure hope I don’t have to, still waiting for those 4%'ers to pop up.


PenFed has raised CD rates across the board. They are ballyhooing their rate increase here:

Link to new higher CD interest rates at PenFed

My opinion? You do not want to know my opinion. I don’t care for the new rates. But I am aware other folks are interested in purchasing CDs at these new rates . . . so I posted this.


Today is Sunday. Am posting this heads up because so many of us have PenFed CDs maturing today and right on into this coming week and even shortly thereafter. There is a wrinkle. And it stinks.

First, credit where due. A poster on Ken’s site, gregk, just posted about this. If you have a PenFed CD maturing you really need to read this person’s post:

Read this if you have PenFed CD(s) about to mature

As the poster there signals, PenFed seeks to hold onto your money for an extra day, with no payment of interest!! You must telephone them if you are wanting to avoid this outrage.

This is an avoidable annoyance as the poster suggests. But to avoid the annoyance you must act. If you fail to act your money will be residing at PenFed for an extra day.



You have your maturing CD’s added directly to your PurePoint acct & start gaining Interest immediately. I agree it’s a good idea, but isn’t it true that you cannot remove funds from PurePoint for 7 days?
The question is, what if you find a need for the funds sooner? I usually put those funds into Alliant CU, & the hang up there is the ach movement out, of $25K per day.


The rule at PurePoint is four business days . . . emphasis on business. Hence, weekend days do not count. Bank holidays do not count. But for example, in a week absent holidays, if I give the ACH transfer order at PurePoint on a Monday, the money will begin earning interest at PurePoint that same day, and my funds will be available for withdrawal from PurePoint Friday of that same week.

I have found this a workable way to approach the funds transfer/extraction issue. As for needing elsewhere funds which might temporarily be on hold at PurePoint, I have other sources of funds to cover that contingency. I do not have all eggs in one or two baskets.


Pursuant to the post just above, where I responded to pattyb53, I want to offer a heads up for those facing funds movement challenges in the wake of the PenFed CD maturities.

With the death of President Bush, it appears we will be encountering a somewhat unanticipated “holiday” this coming Wednesday. It’s not a holiday in the usual sense of course, but instead a special day to honor President Bush, a day dedicated to his memory.

I know the stock and bond markets will be closed. What I do not know is whether or not the Federal Reserve will be operating. If not, then ACH functionality will be missing that day. This could impact your ability to extract your funds from PenFed, depending upon exactly when your CD(s) mature . . . and so forth. This is merely a heads up so you are aware of this matter and can investigate further if you think this might impact you personally.


New NFCU IRA CD. Go here for details:



As a followup to my earlier post, it now appears the Federal Reserve will be operating normally on Wednesday, even though its Washington, D.C. offices will be closed. But critically, it seems funds movements will not be impacted. Their announcement came only today. Here is a link to their announcement so you can judge for yourself:

Federal Reserve announcement relating to National Day of Mourning


19-month 3% CD from Hanscom FCU

Not the greatest but thought some might be interested.



Thanks for the PurePoint rule of 4 business days on deposited funds. My outside CD matures on Fri 12/14. So I will call early that morning & have funds transferred to the savings. Then when I see the funds moved, I will have PurePoint ACH transfer order conducted. As I see it, my funds at PurePoint could be available for withdrawal Thur 12/20. (if needed)


I am so sorry, pattyb53, to be delivering this news to you . . which could be difficult for you. Better I hope for you to be aware than not. Also, I always could be in error and for your sake I hope that is the case. Here goes:

If your nominal CD maturity date is Friday, fourteenth of December, then most likely your funds will not be available at PenFed until the following Monday. You DESPERATELY need to telephone PenFed ASAP to go over this with one of their representatives. I do not think your plan as you have outlined it will work out for you. I hope I am in error. However:

My own nominal CD maturity at PenFed is today, Tuesday. I telephoned them first thing this morning. They explained a couple of things:

*I will be earning interest on my funds today
*At midnight tonight final interest will be credited and the funds moved to my savings

Hence, I will not gain access to my funds until tomorrow, Wednesday.

For me this was no bigee, especially since I’m being paid interest today. I plan to do with the funds tomorrow that which I had originally thought I would be doing today. No sweat.

But for you it is different because of the weekend. I hope you will not lose interest. I have no way to know how they handle a situation like yours, with the Friday nominal maturity. This is why I, once again, STRONGLY suggest you telephone them at your very earliest convenience to discuss the entire matter. I wish you good luck.


Hmmm. OK, pattyb53, I’m not seeing anywhere you have indicated your maturing CD is at PenFed. If not, everything I just wrote does not apply to you. I will leave the post up on chance you are at PenFed, and on change another PenFed member might benefit from what I wrote.

But if you are not escaping PenFed on the fourteenth, if it is another financial institution, then you should be in the tall alfalfa.


Up early this morning, feeling like Snake Plissken (1981 - Escape From New York) as I try to rescue my CD money from the clutches of PenFed.

They are such liars, claiming they would pay interest on day of maturity, yesterday. They did NOT! What they did is wait until the end of the maturity day before finally closing my CD and moving the funds to savings as I had directed. But they dated the movement of funds as being “effective” on day of maturity. I detest underhanded stuff like that, but what can you do? They’ve got you.

Anyway, with CD finally closed and funds in savings at long last, I was able this morning to schedule a withdrawal using PurePoint. Hence lost only one day of interest. Heck, without PurePoint it would have been an even greater loss. PenFed is so low. WABOA


Is anyone else seeing this Sun East 3.5% CD deal? The term is 27 months.

Q: Shin, are you in?

Not yet, but I’m looking at the deal seriously. Apparently there was a severe problem recently related to membership for persons (like me) who do not reside in their primary service territory. I spoke with Sun East this morning. That problem was resolved even more recently and everyone can get in provided you join their Charitable Foundation. Cost is $10.

I have been holding out for 4% but this is a very good rate at that term. Deal might be worth more than just a casual glance.

Link to Sun East

Here is their toll-free contact number: 877-578-6327


Answer to the above query is now “yes”. I have jumped in. Sweet unanticipated outcome on the savings account funding: they accept CC funding up to $550. For me this meant a $25+ profit with use of the 5% Freedom CU card. Course if they put it through as a cash advance that won’t be good at all. It’s always a roll of the dice. As usual, am hoping for the best. You cannot win if you do not play.


Apparently this deal is flying beneath the radar over at Ken’s site. The earlier entry problems really annoyed, and even angered, a number of posters over there. They do not realize remedial steps were taken by Sun East in effort to overcome the dilemma they all faced only a short while ago.



This looks like a fair deal. Like you I have been waiting for a short term 4% CD. But alas I don’t for see it!!
I applied yesterday for the Sun East 3.5% for 27 mo CD, & today the small deposits came through. As usual I could not download my DL, but I got a nice rep to help me e-mail my photo ID. So I guess I will just wait until I hear from them with an acct #.

I don’t understand why Ken is not showing this deal.


I think he is being influenced, understandably, by the negative comments on his website. Had I not actually telephoned them, despite the comments, I would not have gone ahead.

I do not have an account number yet so I still harbor some skepticism. Am hoping for a good outcome. With something like this you have to try. If it falls through, at least you tried. If the supervisor who took my call was correct in what she told me, everything should work out OK.



Spoke with Sun East again this morning. So far so good. But they appear to be slammed. Surprising since, as pattyb53 pointed out above, Ken is not featuring this deal.

It could be a strong local response to the deal in the Philly region. Or it could be a response. Or both. Who knows?



My account is open and I have my member number. Happy camper.

Just checked and Ken still is not featuring this deal.

I continue to think this is a workable compromise between the 4% I really want and the 5 years I really do NOT want. So is it worth taking a 1/2% haircut but getting back 33 months of term you otherwise would need to extend to garner the 4%?

For a certain amount of money invested I think it is worth the sacrifice. Not betting the farm on this one. But I will go in for a more modest investment.