CD Discussion Thread

I also did some nonjumbo gte cds thur 822, funded w cc…gte did not call as stated…my status is referred…hope gte opens my cds

I wish you good luck, @pattyb53. I recall having trouble opening an account online with Keesler initially. I forget the issue but it was confusing. I think I phoned and that was somewhat helpful. Fortunately, I had a branch fairly close. Opening in the branch was easy. The rep there was very helpful and knowledgeable. I know this isn’t an option for most of the posters here though.

So again good luck Patty and all!

It will not happen instantly. But when the charge hits your card you will know you are golden. Also:

The new CD account(s) will appear first on your GTE accounts list, with an account number, but showing a zero balance. At that point you are in. Day or two later the full amount you charged will be displayed, for those same accounts, on your GTE accounts list . . . . unless there is trouble. The zeros should go away within no more than three days, oftentimes less time than that.

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I think it’s OK. I would not expect being able to ACH funds straight into my PSECU CD account from an outside account. I would anticipate the need, instead, to move those funds first into my PSECU savings or checking via ACH, thence from there into my CD.

CD accounts, regardless where, are most often not able to be hooked up directly to the outside world via ACH.

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Ken’s big whoop deal this morning:

84-month (2.95% APY), 72-month (2.90% APY), 60-month (2.85% APY), $1k minimum deposit.

I’m not even gonna bother to tell you the name of the financial institution.

C’mon, Ken, who would buy that trash at this point!!

Geez!! I mean, you can still right now today go over to NFCU and get 3.25% on a five year CD!!

For crying out loud, give me a break and show me some real deals!!

Sure interest rates are down. We all recognize that. But if you want me to be interested the deal had better at least have a three handle. :grinning:

ETA

I acknowledge Ken is offering some CD deals with three handles. But they are all local/regional deals, uhhhhh . . .

except for PSECU which he does not seem to realize, or care, is available to all. :unamused:

I, for one, cannot just go over to NFCU and get a darn thing. So you criticize the mention of restricted offerings, by comparing it to your example of…a restricted offering.

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I am deeply moved by your plight. But there was a time, within the last ten years, too, when anyone could have joined NFCU.

How am I aware of that? Because that is when I joined. It was after having regretted for years prior, as I watched great NFCU CD deals pass by just outside my reach, being unable to get in. So when the membership opening presented itself, I pounced.

With NFCU and other credit unions as well, when membership opportunity manifests itself, it oftentimes is wise to take advantage. You snooze you lose. And “once a member always a member” . . . . . thank goodness. :wink:

I’ll make a note to add it to mine!

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Air Force FCU which used to be Lackland FCU.

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There’s probably a lot more. Kirtland FCU…

https://www.kirtlandfcu.org/join.aspx#/joinNow

Cannon FCU
https://www.cannonfcu.org/membership

A bunch I’ve never heard of @ https://www.depositaccounts.com/blog/2013/11/15-credit-unions-that-were-established-to-serve-military-members.html

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I bet that a few bucks spent on a scanner would’ve paid for itself by now.

But you also mentioned emailing your ID. How did you get a digital copy of that, if you can’t scan? Even if just using your phone to take a picture, there’s better than 50/50 odds such a document would be accepted no differently than it being scanned.

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You have a good point about using the phone, “take a picture of the notary form as well as ID?”.

As far as scanning… I have it on my printer but I don’t know how to connect it to computer. Folks say, “get your grandson over & set it up”. Maybe someday!!

Probably would help to take a computer class at the Senior Center. :wink:

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Keesler finally came through today!! Account # provided & logged on now…

Imagine I mailed material 8/16, & that was a Friday. My rep was apologetic, but she needed 1 more item. Even though she had a notary signature, I had to e-mail (by phone photo) 1 more signed copy of membership form. I did it!

Hopefully you probably won’t have any holdups when you go for your membership.

This is my usual reminder that . . .

Q: Uh, shin, everybody already knows Labor Day is this coming Monday. Do you think they all are living beneath rocks?

Not at all. But last time I did this one participant here was reminded and helped, so here goes:

This coming Friday offers opportunity for FOUR days of double interest. All you have to do is deposit a check, whether for a CD or whatever, that day. Course be sure your financial institution is paying interest “from day of deposit”.

Double interest is a good thing. I like it a lot.

Q: Shin, are you in?

Naaa. I’m fresh out of dough. Just hope someone else can score.

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Sounds good!!

What about someone (like me) that has a CD maturity 9/1. Sunday with Monday a holiday. Just punt until Tuesday! :sleeping:

I’d be sure to have your maturity instructions in place to go to checking/saving prior to the weekend so they don’t invest it in another cd at a terrible rate.

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That Sunday maturity ahead of a national holiday is killer. I know of no way to shift the funds to a transactional account until Tuesday.

With a Saturday CD maturity, and if the financial institution were open that day, you would call in Saturday, close the CD, and move all proceeds to your savings or checking. On the Friday before that Saturday you would have initiated an ACH funds movement to PurePoint, thereby recouping four days of interest.

But that does not work for a Sunday maturity. Here is the only option I can offer, and this is unlikely to bear fruit:

Call the financial institution and inquire whether or not they offer unattended transfer of funds, to savings or checking whichever you choose, on day of maturity. This is something their computer would have to do. And during a long holiday weekend there is good chance nobody will be at work to operate their computer!

Your bottom line? The funds must be in either savings or checking BEFORE opening of business on Tuesday. Somehow. Sure you can telephone them on Tuesday and transfer the funds then. But that will be too late. Why? Because they will do their ACH work (account credits and debits) before the financial institution opens on Tuesday. The PurePoint debit will be in that ACH file. If the money has not already moved, you will be facing an overdraw and a shortfall when the ACH debit hits your liquid account. And that “ain’t good” at all.

When I did this recently all went well and was on plan. The PurePoint ACH debit hit (for me) very early on a Monday morning. The funds were there because mine was a Saturday maturity, not Sunday. I put in the PurePoint ACH request, at their website, late the prior Friday. The funds were not there when I put in that request. But they WERE there, and available to be withdrawn, roughly fourteen hours later. I had lots of time to spare.

Your situation, with the Sunday maturity, is a lot different. Call them. Maybe they would be willing to move you up a day. Worst that can happen is they say “no”. And of course you would have to be connected to PurePoint in advance. I don’t know how to do this without PurePoint and the “instant interest” feature there.

Yes that’s the way I see it also.

Start ACH transfer’s on Tues, money at Alliant CU Wed. Plan ACH transfer to final destination, arrival Thurs. At this point I’ll probably go for PSECU 36-mo CD, 3.25%. Only problem is rate my not be available at that time. :disappointed_relieved:

If nothing good available… Grow is standby. 2.75%

There is one other possibility, if you have a checking account at the financial institution where your CD is maturing, and if you have checks. You would write a check for the amount of your new CD and overnight it on Thursday to PSECU. Why overnight? Because you must insure your check arrives at PSECU on Friday. Your new PSECU CD would commence earning interest on Friday that way and you would lock in this week’s interest rate.

Q: Why would a paper check work where ACH would not?

It’s because paper checks are generally debited from accounts much later in the day, oftentimes after close of business. ACH debits, on the other hand, are generally debited before the opening of business. That ruins pattyb53’s chances because she cannot reach her financial institution and transfer her funds until opening of business on Tuesday. She cannot beat an ACH debit. But she would be able to transfer her funds to checking before a check from Friday is paid later in the day on Tuesday.

BTW, I just (finally) funded my new GTE 3.3% add-on. Did it with a check drawn on Grow which arrived and was credited at GTE yesterday (Monday). It is now Tuesday evening and the check finally was paid just within the last hour or two. That money remained in my Grow MM account all day today. Grow did not debit my account until after close of business. Alliant works on the same time frame where paper checks are concerned.

Thanks shinobi for all these suggestions.

I called Andrews (CD matures 9/1) & the rep had sympathy for my problem, but yes, I must wait until Tues to see funds in savings. I do know the full amount of the money that will be transferred to Andrews savings Tues. Would I be save to go ahead & make the ACH transfer on Friday (Alliant CU) so money would come out of Andrews & be in Alliant Tues?

I’m a little scared to try that if funds are not in savings when Alliant makes the ACH transfer. :worried: