[quote=“shinobi, post:671, topic:643”]
nevertheless just come in at a whopping 3.2%!!!
This unanticipated outcome should be constructive for and supportive of higher interest rates going forward.
You have my vote!
But, for now I’m going with Navy CD’s & Grow for liquid funds.
Be aware of the NWFCU Opportunity Certificate:
Q: So, Shin, you’re recommending that CD. Right?
NOT IN THE LEAST! I am suggesting you become aware of that offering and make your own decision on it.
Q: Are you in?
Thinking about it. The terms, to me, are unclear. I would have to telephone them before making a decision one way or the other.
OK shinobi…
I’ve never bought into a Variable CD. This one looks like 36mo 3.25% (now) but, could go down to low 2.78%.
Opportunity CD could change quarterly. Probably not upward. Right…
Keep us up on what you find out… Imagine at one time we were all thinking about 4%+…
That is the part which was, for me, unclear.
Obviously with these sorts of CDs we want a rate bottom, which we have, and no top. If there is a top this CD is worthless (in my view).
But, especially in light of today’s great GDP announcement, if there is no top this thing might be worth a shot.
Here is more information, the detailed disclosure for the account (you must scroll down):
No interest rate cap is mentioned. You need at least $1000 to open. Most you can put in is $100,000 (I would never put in that much).
I’m already an NWFCU member. This might be worth a shot for a modest commitment. Thinking about it.
This one would have a maturity date in 2022. Looking over my 2 CD’s that mature in 2022 the rates are 3.66% & 3.50%. I hate to add a 3.25% with only a possibility of a slight raise. I know I probably might not see anything higher again. (but I can hope)
I’m also a NWFCU member holding on with a very small balance.
The gambling force does not burn strongly within you, pattyb53. 
If you look at three year CDs right now on Ken’s site, 3.25% would be a most competitive rate.
Of course with this NWFCU CD the rate could fall . . . but it also could rise. That is where the gambling comes in.
With my Belco variable rate CD I have had a wonderful outcome, with certainly more than just a “slight” increase in the interest rate. But it’s all about your expectations for interest rates. You should not go near this NWFCU CD unless you expect interest rates either to hold steady or to increase.
OK, I may give it a try.
That means taking funds out of Grow 2.75%. Of course I will not loose there, but…
This is like heading out to Las Vegas…
By the way, how much has your Belco rate increased? My expectations of raising interest rates were really good earlier in the year. Why, I was expecting 4% to be the norm after SharonView.
What the heck!! Navy now showing 10 mo CD 2.75%.
Fudge! I just Saturday initiated an ACH there for a bunch of money for the 3% 6-month. I had forgotten that you can’t pull it from anywhere. Was just waiting for that transfer to complete.
Opened mine over the weekend ( funds were already at Navy from a maturing CD ). Guess I got lucky.
NFCU Customer service can open the CD, initiate an ACH xfer from your bank and lock the interest rate while pending xfer.
Good to know for next time. Since the transfer would (and did) complete today (4/30), it seemed unlikely to me at the time that there was any urgency to lock it in since any changes would be on the 1st of the month, right? No, I was wrong. They pulled the plug yesterday.
When I have called to open CDs at NFCU and done an ACH transfer over the phone, they mark the starting date from the day you called and pay interest from that date as well, regardless of when the funds arrive.
They also do this when adding to an add-on certificate.
This is a new one for me!! I have been a customer of NFCU for many years. I usually just ACH funds into Navy Checking, then call or institute a new CD from the checking. That takes a couple extra days.
Thanks for the info. Wonder if this would work with other establishments.
Ally lowered 12 month CD from 2.75% to 2.70% today.
Bummer…
I’m having a problem today. I had a large CD that just matured & what to do? As of today it is sitting in Alliant CU savings.
I have an old United Bank 3.15% add-on. I’m thinking of going ahead an placing the funds there. But, I could take a chance & put the money in Grow 2.75% & wait. (not really a chance, if we think rates might move up)
I don’t see rates moving up in general over the next year ( just my humble opinion ), but you never know when the random promo CD shows up with a great rate.
Sorry - Limited (regional) availability only for this CD deal
The region includes New York, Massachusetts, Rhode Island, Connecticut, New Hampshire, Vermont . . . so I hope wide enough to encompass and help some participants here:
This Pioneer Valley deal is a 3.5% APY, 60 month CD. You need at least $25,000 to obtain the higher rate of interest. There is a separate “tier 1” deal, with lower interest, for deposits between $1000 and $25000. If you do not have $1000 you cannot participate.
Here is a link to the rate page:
Here is a link to the Pioneer Valley membership page:
How to become a Pioneer Valley member
On that page, do not overlook the following:
Please note: The American Consumer Council, MA Chapter (ACC) is an association comitted to consumer education and awareness. Joining ACC, MA Chapter is free which qualifies you for membership. You qualify if you are a consumer who lives, works, or worships in Massaschusetts or any of the following states: Connecticut, New Hampshire, Vermont, New York, or Rhode Island.
ETA
For persons unable to take advantage of the above Pioneer deal, note that Connexus has increased their 5 year CD interest rate to 3.4% APY. Many of you should qualify for Connexus, at an interest rate nearly as good as offered by the Pioneer deal.