CD Discussion Thread

[glitch99]

@scripta

want to draw down their balance instead of locking it in for 5 years?

They don’t. Which is why they lock in a rate that gives them sufficient cash flow. As opposed to earning less than they need [in a liquid account] while waiting for a potentially better rate, and risk rate trends reversing.

[turtlebug]

NASA Federal Credit Union has three new specials (the 9-month CD offering is okay):

9-month CD at 2.00% APY
15-month CD at 2.50% APY
49-month CD at 3.00% APY

10K minimum deposit.

[scripta]

@turtlebug

As of 4/29/2022, Department of Commerce Federal Credit Union is now open to all U.S. citizens and residents aliens.

Does anyone have an account at DOCFCU and know the exact details of their “relationship rewards” program? It’s not on their site or google…

Also their 6mo (6-11) CD is 2.20% right now, more with the relationship rewards bonus, more with at least $25K:

• If you are a Bronze Member, you will receive an additional .05 basis points in addition to any of our current rates.
• If you are a Silver Member, you will receive an additional .10 basis points in addition to any of our current rates.
• If you are a Gold Member, you will receive an additional .25 basis points in addition to any of our current rates.
• In addition to the Relationship Rewards levels above, if the initial deposit is $25,000 or more, you will receive an additional .10 basis points.

I’m thinking 2.5% fixed for 6-mo is close to break-even with the best savings account over the same period, so this isn’t for me, but this could get better in the near future.

[shinobi]

Bellco Smart Move CD just jumped to 1.65% APY.

[shinobi]

3.64% APY on a five year CD

Dividend Rates

Anyone may join this CU. You need at least $500 to open account.

BUT, BEWARE:

Even though the APY is high, this CD has a gargantuan early withdrawal penalty!! 600 days!!

Do not invest thinking you will be able to get out easily if rates escalate.