Evansville just keeps on chugging at 3.3%. I’ve been thinking it was primed for a drop since early this summer. I’m sure they will eventually drop but until then it’s like finding free money in the street.
I think ETFCU is going to drop very soon… because I just opened an account with them last week. With my luck, the rate drops as soon as I chased it at a bank. LOL.
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The NCUA yesterday (12/4) released credit union performance information based on Q3 2020 data. This release will trigger new ratings, which I hope all will become available before Christmas.
Why should anyone with insured deposits care about this?
When deciding where to open CDs it could be a factor. A long term high rate CD could prove to be otherwise if the institution fails. So all things being equal, you’d be better off picking the higher rated one.
But once your money is parked, I’d ask the same question.
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So the principal is insured, but the interest is not guaranteed if the institution fails? Or the length is not guaranteed?
Good thing I didn’t know that when I parked $100K of 0% balance transfers in a 1-yr CD at Washington Mutual a little more than a year before it failed 
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If an institution fails, you might get your CD money back early. At which point, it may not be possible to get an equal rate elsewhere. So when you have $X to buy a CD and multiple Y% options, it’s advisable to pick the option at a bank that is most likely to survive the CD’s full term (especially in a time of low/declining rates).
It’s a marginal factor that probably wont matter, but it could matter. But other than that, I’m with you in not understanding why it’s such a big deal for some of us.
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Even tho not a CD, Bradley is still 3%
Where is Bradley? Full name?
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Have you successfully withdrawn any money from that account?
[HMBradley – Start saving your way to 3% APY(https://www.hmbradley.com/) you need a real DD. I have my SS deposited there. Plus you have to read reviews. Works on quarterly basis. DD and keep funds there then the 3% kicks in at beginning of next q. I have this for 5 months and so far so good
all I did was set up external transfer with trial deposits to WF and Citibank. Never did a transfer tho. They have no checks nor bill pay so you have to transfer to withdraw or have receiving bank ach out. I see no problem with that. BTW when you send $$ in via ACH its super fast. Overnight actually. I sent in funds via ach from WF and CIBC on a Wed PM and it was applied the following am! Plus my SS is sent on the 18th and its credited on the same day. Other banks take 24-48 to credit my SS.
I only ask because other FinTech accounts have experienced some issues with withdrawing money. Not saying they are shady, but they are very unproven.
That depends entirely on where you send it from. Posting early rather than after nightly batch posting is nice, but whether it’s next day or 3 days is dependent on the sending bank.
good to know. thanks. BTW its run by a CA. bank called Hatch. seems ok so far as reviews
Just saw this:
Ken has posted his new ratings for credit unions based on NCUA Q3 2020 data. Pandemic impact? You have to check on the credit unions you care about. Here is a link to Ken’s website:
Bauer and Weiss have not posted their new ratings at this time. Stay tuned.
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The main one I’m watching is GTE and they seem to continue improving slowly in health. Makes me a bit more confident to use the add-on feature of their CDs come January. It seems like it’ll be hard to find better than 3.3% APY for 3.5 yr term in the near future.
Understood. GTE was upgraded last time by Weiss. I am hoping the upgrade somehow holds.
Ken was first again this time with his release of the Q3 ratings. Bauer should be along in a week or two.
Weiss? Do not hold your breath. It could take a while. Still even the new Weiss ratings should be here before Christmas.
Do you need to have actual spending too each month? And do ACH out counts as spending?
do not know what you mean. There is no spending involved. its just a bank acct that pays 3% with a required “real” DD.
I got confused by their tier calculator then. If I put in a DD but leave $0 in spending they default to No Tier meaning no interest like you’d get if you save less than 5%.
If they don’t require any spending, then all you’d need to do monthly is send very small DD. I can split my employer DD up to 5 times so would be trivial to park $99.5k (after the first quarter required to qualify for Tier 1), and then DD $5/month to keep earning 3% on liquid money.
What other ACH count as DD according to the forums you read? Any chance it’d work via some banks too?