Discovering that I have a UNIFY FCU right here in my own town, I proceeded to go there today. Really a nice CU with helpful workers.
Yesterday I opened my acct online. Had my Member #, Checking & Savings acct # & ready to proceed. Checking acct required $25, which I funded yesterday with CC. I had not funded the Savings (thought it required $200 to avoid monthly fee). Surprised that it only required $5 which UNIFY provided for free.
I wrote a personal check $5000 to open the No-Penalty 19-Mo add-on CD. 2.25%. Maturity 7/24/21.
I will certainly use this CD add-on feature to place funds that start to mature in Feb 2020.
I want to personally thank shinobi for first mentioning this deal a few days ago. THANKS!
It looks like you can join and open accounts with Unify online…However, the Liquid Share Certificate it does seem like you can only open in branch…I wonder if they would accept mailing in a check to a branch? Has anyone checked about their policy regarding that?
You are more than welcome, pattyb53. This does seem a good deal . . . . but regrettably only for those persons actually able to get the deal!
This is good thinking in my view . . . should have thought of it myself.
Speaking generally it can at times be possible to accomplish more when working person-to-person with a branch representative than is possible when dealing with a call center. This only holds, of course, provided it be possible to reach branches of the financial institution. Sometimes a financial institution’s telephone system is designed purposefully to make reaching branches impossible without first going through the call center.
But I have done well in the past working directly with branches and circumventing the call centers. Couple of cases in point:
My mistake! I had thought they lowered the interest rate. I withdrew all but $27, & proceeded to forget NBD. But, I just checked & rate is indeed 2.5%.
Yes. There has been additional confirmation, since my last post, over on Ken’s site that the current rate will hold until Monday the thirteenth of January. After that all bets are off.
I think the big question, and unknown, is whether or not the new rate will descend below 2%. There appears to be consensus that after the thirteenth the bank will seek to keep depositors rebellious but not mutinous.
The 13th is a pretty odd date for a rate guarantee. Banks typically keep rate changes to the start of the statement cycle. I wonder if they’re looking at the jobs report you mentioned (coming 1/10) to decide if they can stick at 2.5% for another month?
No clue. I have no idea whatsoever what they are thinking.
I’m merely your humble reporter here. My own NBD balance is about two bucks. With the Grow Promo MM still paying 2.75% APY until end of February, all my liquid dough that I need for ongoing PSECU CD funding is there.
I will be watching to see what NBD eventually decides to do. Come end of February I might need 'em . . . or not . . . depending on their new rate and guarantee, if any.
With “D-Day” (Decision Day) for all you NBD mugglers now just one week away, you might have interest in the following:
Marcus raised the interest rate on their 11 month NPCD to 2.00% APY.
So if the new NBD interest rate turns out to be below that, there is refuge for you at Marcus. In addition:
Don’t forget the Marcus offering carries with it an implicit eleven month rate guarantee. So even if NBD meets the rate, unless they also offer a guarantee the Marcus offering merits consideration.
Got an email from NBD. Worse than expected - rate drops to 1.75% on January 13th with no rate lock moving forward. It’s disappointing but not surprising and I do appreciate them keeping the 2.5% locked beyond their guarantee and the proactive communication. I believe @shinobi ‘s recommendation for the NPCD is a good one. Customer’s Bank also has a savings account at 2.25% with a rate lock through June 2020 however you need 25k min for it.
