CD Discussion Thread

Yes, stuck with 1% for 18 months. I kinda thought rates were starting to move up “a tiny bit”. But advertising .90% for 18 months made that 1% sound reasonable.

Well who knows? Problem is, some of those old CD’s of yesteryear will start maturing before we have a reasonable placement for them. Just thinking ahead…

Another problem for me, is over booking Keesler. Their reputation is good but I’m way over the security level now. That’s why I’m looking around for another option. Problem some others might wish they had. :blush:

I’m with you on this. I’m on my third account (self,wife,joint) and am uncomfortable going over the insured amounts. I love most of the people at Keesler, but have absolutely no confidence in their security.

However, not being Japanese, I cannot bring myself to lock in at 1% for 18 months. What’s the penalty for early cashout?

I do not keep big money at Keesler even though I am a very active member. So I needed to look this up:

Keesler is rated “A” by Weiss Research, “A+” by Ken, and commands a five star rating at Bauer, their highest. Guys, it “don’t get much better” than that when it comes to safety of financial institutions. The rating from Weiss is especially telling.

I’ll use my own situation as an example:

I have eleven financial institutions on my Weiss Research watchlist. Aside from Keesler, only one other financial institution has the Weiss “A” rating. It is extremely difficult to get a high rating at Weiss. The other occupants of my watchlist, by the way, score high grades from Ken and at Bauer. But Weiss is a very tough, no nonsense, no BS, grader!

Caveat:

As I recently posted up thread, the Q2 2021 ratings for credit unions remain unpublished. I expect them to be out shortly. My comments here are based on ratings attributable to Q1 2021 data.

Bottom line, though, Keesler is one of the safest, most trustworthy, credit unions in the USA.

ETA

The above would go double where a Keesler HIMMA Plus account, being used as a CD substitute, is concerned. This is because you can withdraw your money from a HIMMA Plus instantly, with no penalty whatsoever, and with no concern your withdrawal request will be refused. Some CD early withdrawals are at the discretion of the financial institution, a right of refusal seldom invoked but which would be more likely to arise in the presence of exigent circumstances . . . an impending collapse, for example.

Interesting! I have 2, myself and spouse. Never realized that joint could be a separate account.

Now I’m wondering about those 2 SS numbers. If adding a separate “joint” account would work. I’m going to go ahead and call Keesler today.

At this point I’m over the insured amount anyway. So if allowed I’m going for 3…

Have you asked them to add POD beneficiaries?

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Thanks glitch. Going to get those POD’s added.

I agree that they are very stable, financially.

Update

Ken is now offering health ratings for both credit unions AND banks based on end of Q2 2021 financials submitted by these entities. Below is a link to Ken’s website. Click the “Q” at the top right, and then fill out the inquiry box which drops down to check on the health of the financial institution where you have your CD:

Link to Ken’s page

Note:

No change at Bauer. Still updated ratings for banks only; ratings for credit unions are old.

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I’m assuming everyone knows about the (excellent) FDIC insurance calculator ( https://edie.fdic.gov/ )?

If not, you should give it a try. It shows you all the options to increase the FDIC insurance available to you, and is very easy to use.

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In an unanticipated (by me) development, Weiss Research has just published Q2 2021 health ratings, right across the board. And the outcomes are, generally speaking, really encouraging. On my own watch list I had three upgrades and no downgrades at all. And some of the institutions where there was no rating change nevertheless posted better evaluations than at the end of the first quarter (I store the old charts to allow for later comparisons).

Link to Weiss

Bauer, too, has completed their Q2 2021 data dump. Hence the Bauer credit union ratings are available. Here is a link to the Bauer page for credit unions:

Link to Bauer

So that’s it. Everybody is finished reporting for Q2. The Q3 2021 outcomes should be available before Christmas. Hope they look as good as everything appears today. :slightly_smiling_face:

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[quote=“Honkinggoose, post:2502, topic:643, full:true”]
I’m with you on this. I’m on my third account (self,wife,joint) and am uncomfortable going over the insured amounts. I love most of the people at Keesler, but have absolutely no confidence in their security.

However, not being Japanese, I cannot bring myself to lock in at 1% for 18 months. What’s the penalty for early cashout?

I decided to forget that 18mo 1% CD.

I’m so glad you mentioned the third HIMMA Plus account at Keesler (self, spouse, joint). It took some conversations with different Agents to get my point across that it is possible. (A goose has 3 accounts) :blush:

Finally my third HIMMA Plus account is up and
Running today. 1.4% is better!!

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Just be aware, multiple accounts does not increase your insurance coverage.

So true!

But I’m much more comfortable with the 3 accounts. Keeping the balance lower in each account, rather than overwhelming one.

Just me… :rofl:

I stopped wasting time months ago chasing rates. All I do now is 1)HMBradley, nearing 100k after 13 months (SS DDeposit) at 3.5% 2) Not a well known fund but Toyota Notes…1.35% but not FDIC insured but after all its Toyota/Lexus 3) Kabbage by Amex. Got invite 2 month ago. its 1.1% Plus 300 bonus for making 5 debit purchases. Do not know if i will get that because a confusing bonus. At doc some say you had to be targeted, some say no. Wont know till after Oct. Also 4) wife got the Sapphire Preferred with the 1000K bonus after 4k spend. easy to do. vanillagift.com. Also we both opened accts at local credit union for 750 bonus each…In Westchester/Putnam/Dutches NY. 250 for spending 2k on debit (prepaid cable/elec/ mobile bills/plus some grocery bills/250 for e statements and 250 for DD. Dont have DD (real) but sent in from a few financial inst. Coding not clear. Just says ACH retail. On Doc website a person also sent in real DD and it coded same way. We will see as I have to wait 90 days. Going on 60 days now.

The rates stopped changing (almost everywhere) a few months ago…

[head shake, then spit take, costing sip of Blanton’s] The HAIL you say? Please elaborate. And soon, as the pucker factor is very uncomfortable. :smile:

Really? Since when? Your conf of glitch99 is kind of alarming. Ruining a good buzz with coffee to research. If y’all are wrong …

Well, I feel somewhat better. I checked both the NCUA and FDIC sites for coverage, and feel comfortable that each of you are wrong. Can you please elaborate so that I can again feel uncomfortable or shoot you down?

Thank you.

Wouldnt you know it, the joint account is in a separate category from individual accounts, and you are insured per category.

But I’m sure your spit take was quite humorous and worth the brief misunderstanding. I’ll have my hacker pull the video from your webcam later today.

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Well Mr goose, makes me happy also.

I’m insured for the two personal Keesler HIMMA Plus accounts (now considered one together) and the Joint HIMMA Plus account separately.

New information for me! As I said earlier, I thought SS numbers for the 3 accounts could only be used once at Keesler FCU. As can be used once at each different establishment.

You guys here at fragiledeal are so smart that I’m impressed to write and talk among you all. But I’m sure going to be on the lookout for new ideas popping out every day. Thanks… :blush: