CD Discussion Thread

CD Discussion Thread


We need shinobi to adopt us for eligibility requirements!


losid is apparently correct . . . based on my reading of comments over on Ken’s website. However:

There was a time when Freedom CU welcomed members from throughout America. That was then. This is now. It is more difficult today to become a member.

Still once a member always a member so folks, from California for example, who became members in the past remain members today.

Feel bad for others but, hey, I do not make the rules.

My new account was opened and earning interest at Freedom CU yesterday (Friday), exactly as I was promised. That very same money remains on deposit at Ally Bank, and will until Tuesday. That’s a total of 5.7% APY on the funds for these four days. It’s not a fortune but who am I to look a gift horse in the mouth! :wink:

In addition, attention to this deal has picked up a bit at Ken’s place so I am relieved and happy just to have the account open, up, and running.



I post CD deals here from time to time. When I do so it does not at all mean I am recommending the deal. Instead I am merely advising you of the deal. Sometimes I post CD deals of no interest to me personally. I do this in hope of helping others. We all have different investing strategies. A deal of no interest to me might be right for you, and vice versa. Thank you for understanding.

The deal:

All that said . . . . here is a new (upcoming) deal from Andrews:

This is a six (6) month CD paying 3.25% APY. The deal will become available later this month. To preview this deal

Click here and then click on the “Military Saves Week” tab

3.25% APY is a respectable rate of interest for six month certificates of deposit.


Nice complement to their previous CD deal. It sounds like the new deal won’t be available when my current CD expires though.

Thanks @shinobi


Andrews FCU Special 6 Month 3.25% APY* Share Certificate Available During Military Saves Week
Must be funded with new money OR the member must have a checking account, debit card, and direct deposit of $750 or more per month.


If I had any money free’d up I’d take that 6 month cd…that’s perfect for “intermediate” funds…outside the emergency fund but you still want them around…earn a higher rate for a limited time over the savings. My next cd matures somewhere around mid march.


This one! Not qualifying for becoming a member!

My guess is that losid doesn’t meet any of these requirements for membership. (Posting here for benefit of others wondering what they are):

You can join Freedom Credit Union if you:

  • Live, work, worships or go to school in Philadelphia, Bucks, Chester, Delaware, or Montgomery County
  • Are a family member of a current member. (Spouse, children, parents, siblings, grandchildren, grandparents, stepparents or stepchildren.)
  • Employed by one of our Select Employee Groups


Regarding Freedom CU current membership requirements:

Back on Valentine’s day, Mickey12 posted the following on Ken’s website:

CSR just informed me along with ACC membership one has to live in the states of Pennsylvania, New Jersey, Washington D.C., Maryland, Virginia, West Virginia, or Delaware to become a member.

So if you live in one of those places it might at least be worth a free telephone call to them at


to check out your prospects.


I flew Allegheny Airlines out of Philadelphia once. So I’m pretty sure I prayed there. Wonder if that counts.


shinobi, here is a question…

I have a large no-penalty CD at AgFed 2.5% that matures 4/6/20. Would you be tempted to cash out the CD & go for the Andrew 6mo CD 3.25%. There would be no question in my mind if I could withdraw only part of my no-penalty CD, but I would have to withdraw the whole amount. That bothers me.


First thing I would do is to telephone AgFed, attempt to reach a decision maker, explain your plight that you only need a portion of your CD money, and ask if they will make an exception for you and allow such a withdrawal penalty-free without impacting your ability to withdraw the remaining funds penalty-free. All they can do is to say “no”, and it costs nothing to inquire.

If that fails, you have to ask yourself what will be the going interest rate on liquid funds for the next thirteen months, 2.5% at present being readily available via that route. So there is no immediate penalty for cashing in your AgFed CD, though you might lose money in future if interest rates (in general) fall.

Beyond all that I’m not keen on the Andrews deal because it is so short. So I would probably remain at AgFed until something longer materializes, something akin the the Freedom deal, for example, which is both a bit longer and also pays more interest. I like the Freedom deal more than the Andrews deal, and I have done Freedom but will not be doing Andrews.


Thanks shinobi,
I think I will skip Andrews also. Who knows, maybe some unknown 4%'r will pop up.:wink:


Why? Either it’s worth it or it isnt.

You have 14 months left at 2.5%. To move to 3.25%/6 months, liquid rates would have to fall more than .75% (from the current 2.5%) over the next year for you to come out behind. As we stand right now, rate increases are still on the table as a realistic possibility over the next year. So I think that’s a good bet.

The only real question is if the amount of money is enough for the extra interest to be worth the hassle of moving the money, then moving it again in 6 months.


Assuming you would be moving 250k, this is almost 1k you would be leaving on the table over worry that rates are going to drop and you won’t be able to get 2.5% after the 6 month CD for the rest of the 8 months you have left on the Andrews CD? Am I understanding correctly?


After reading glitch99, I believe I may give the Andrews CD more thought.

But zzz, I wouldn’t be moving $250K. I will be moving a pretty large sum from my no-penalty CD into EBSB savings 2.5%. Then ACH transfer an amount into Andrews savings & later have them open the 6mo 3.25% CD. At least that is my thinking tonight…


Noted in passing:

It is Saturday morning (2/23). I just visited the Freedom CU website and their 3.5% APY, 18 month, CD deal continues to appear. I find that a tad bit surprising, however the fact Freedom CU reined in their membership eligibility may be a factor.

I went in with a decent amount of money back on 2/15. However, now more even than back then this deal continues to look, to me, like a good one.

Also merely in passing and for the record, I have tried every can opener I have to pry loose the Timberland 4% CD deal. No dice. I tip my cap to anyone who managed to get in there. Those Timberland folks are tough as nails.:slightly_frowning_face:


shinobi, I also got in on the Freedom 18mo 3.5% when it was first offered. (matures 8/20)

I would certainly be interested in that Timberland 4%, guess I missed seeing the offer earlier. So I checked back on it, & to late to bother trying now. But tomorrow my money at EBSB should be available. (not absolutely sure, they said 3 business days)

I’m getting tired of waiting for that 4% deal to come along. So Andrews 6mo 3.25% CD, might be a good place to hold funds for just 6 months time. The waiting game!! :wink:


Ken featuring this morning new Hyperion Bank certificates of deposit:

13-month (3.20% APY) and 19-month (3.50% APY), new money, $500 minimum deposit.

No need for more detail here. Deal is right there front page of Ken’s blog.

That Hyperion nineteen month is only one month longer than Freedom’s (still available) 3.5% deal, but the Hyperion Bank deal is open to all, regardless where you live!!


Thanks shinobi, that 19 mo would be the one I would go for if…

By the way I just checked EBSB to see if my money was available & no, not yet. Looked back again to see exactly when it was first posted, 2/21. So maybe tomorrow. But I think I will still go for the Andrews 6mo deal. Still waiting for that 4%'er.


Funding and Accessing Maturing Funds

Funding a CD can be done by wire (no charge for incoming) or by check – no ACH transfer available at this time. There is a 10-day grace period before a CD automatically renews. Funds can be distributed by check or wire ($25 fee), or deposited in an existing Hyperion checking account. The Bank is in the process of expanding its online application capabilities, and it is possible that by the time these CDs mature, the online banking platform will be able to accommodate an ACH transfer.

No ACH… ouch!