Turtlebug is a highly respected poster to this thread. I’m not about to trash his or her deal. Period.
That said, I did glance at the deal. Don’t have a fraction of the funds needed to do it, so spent scarcely any time at all. Only would urge anyone doing the deal to be watchful and, most especially, circumspect, where this deal is concerned.
It’s a great interest rate. Good luck to all!
*** PLEASE DISREGARD THIS POST as this deal, which I found on a FIRE forum indicates that it might not be legit. In an abundance of caution, although others state it is a real deal, I DO NOT recommend at this time. My apologies, as this was discussed in detail on a respected FIRE forum before I originally posted.***
I confirmed that exact fact Sunday evening when I opened a 12 month and a NP 11 month cd.
I opened the NP CD on Sunday. The account showed $0, 1.75%, and maturity date of 2/15/2021. After I transferred $25,000 to that CD earlier today, the account shows 1.55%, which is the current rate, and maturity date of 2/17/2021.
You have to wait ten days from opening, for the guarantee period to run its course.
If you opened the CD on 3/15 at 1.75%, it may show 1.55% now but it will go back up to 1.75% on 3/25, at the end of ten days. Trust and patience! 
This is similar to what I did, but I also opened a 12 mo CD. The 12 mo CD is not yet funded and shows the correct interest rate and a maturity date of 3/15/2021. My NP CD shows the same as yours, but will adjust on 3/25 or 3/26 to the highest rate from the time that I opened it (3/15). I believe that the maturity date does adjust to the date that you fund it.
@UncaMikey beat me to it.
@UncaMikey and @Honkinggoose, thanks for the info. I didn’t know that’s how it works.
With all of the bad news of rate drops, here is one tiny little ray of sunshine.
Hanscom FCU is letting us break our CDs penatly free. Thus, if you’ve got a higher rate add-on, or with a maturity date that you prefer, here’s your opportunity.
It’s the last item under Financial Assistance …
I wonder if Hanscom place a restriction that it only applies to CDs opened prior to today? Otherwise, all their CDs are effectively NP CDs, during the state of emergency.
I don’t know but I do find Hanscom is great on service, so maybe…
Just checked & I do have a Hanscom CD, it’s 3% & maturity 1 yr from now.
So I see no reason for breaking a 3% CD regardless of it being penalty free.
Agreed, pattyb53, in your situation.
But if I had your CD I would break it pronto and place the funds into one of my add-on CD accounts in order to extend my maturity with no harm to my interest rate. Being permitted to do so without penalty is a great benefit of being with Hanscom for those persons who possess add-on CD accounts elsewhere, and Hanscom deserves recognition and thanks for granting this leeway.
When your Hanscom CD matures one year from now we all hope interest rates will have, by then, recovered. But there is no guarantee of that. And if you are forced one year hence to reinvest those funds at interest rates akin to today’s, you will be suffering quite a loss of income.
For those of us with add-on options, the Hanscom offer is welcome. This is because it allows penalty free access to funds we can reinvest straightaway, before our financial institutions become strapped and stressed to the point they must cancel our add-on options or go out of business.
A reminder . . . . at least I assume this will be repetitive for most of you . . . . but if not no harm. I am stealing this from Ken’s website. Here is the copy and paste:
(Upon failure) CD rate cuts: CD rates are often lowered after a closure. Without a closure, the CD rate lasts until the maturity date. However, when another bank assumes the deposits of a failed bank, the new bank is free to lower the rates on existing CDs.
What Ken is telling us there is that, when a bank fails the interest rate on our CDs could change.
Course you might argue that, prior to lowering our CD’s interest rate, we savers are owed the privilege of penalty-free withdrawal. Even if that were true, as well it might be, where could you re-invest those funds now at a high interest rate? The takeaway for me as one today having an add-on focus:
I will be adding on to accounts at financial institutions having the best ratings with correspondingly the lowest probability of failure. If I load up an add-on account at a financial institution which fails thereafter, I could be in a world of hurt. No thanks. Watch those safety ratings!
And finally, it is noteworthy that Weiss Ratings has lowered GTE Financial to a “C” rating. A word to the wise is most often sufficient.
My GTE add-on CD 2.75% matures 4/6/20. I really don’t know why I picked up a 2.75% CD. Guess it was the add-on feature.
GTE with a “C” rating is pretty sad… I’ll get rid of it pretty soon, but then ?? where to put the funds. 
Sorry to say, pattyb53, I have no answer to that question.
All right, something did occur to me:
If you are a member at Freedom Credit Union, look over your CDs there. Some might be add-ons, others are not. You would have to telephone them to learn what’s what.
Good luck.
Thanks for the info shinobi…
I have 2 CD’s with Freedom CU. I just checked them & don’t see any evidence of add-on’s. It’s to late to call now but Monday I’ll give it a try. The rates on both CD’s is 3.56%. Great!!
OK. Knowing this now I can tell you the following:
My best recollection (and that’s all this is - you still need to telephone them) is that Freedom CU, in the past, offered both “promo” CDs and regular or non-promo CDs.
The promo CDs carried higher interest rates but you could not add on. The non-promo CDs paid less but included an add-on option.
I remember, and it was a while back, opening one or more very small non-promo certificates with them solely for the reason of nailing down the add-on privilege.
Freedom CU is small. I’m uncertain how valuable even my own add-on account(s) there will turn out to be as we move ever further into these uncertain times.
Ken has gone up with an important thread related to NCUA and FDIC insurance. Ken’s writeup, as always, is good and valuable. However:
I found most interesting the comments which follow Ken’s new piece. Think you might, as well.
For me in recent years I have striven to “spread” my resources over a number of financial institutions. Purpose was to avoid the very focus of those comments. Now with this pandemic, and the consequent decimation of interest rates, I find myself in a situation which mitigates in direct conflict with my “spreading” goal. To wit:
I own only a limited number of add-on certificates. These are spread across just a small number of financial institutions. The bottom line impact is a forcing of resource concentration among those accounts, in order to avoid losing income with today’s lower yielding CDs elsewhere. This forces one into the sort of dilemma discussed in the above-referenced comments.
Here is a link to Ken’s piece:
Deposit safety in time of pandemic
Again, do not overlook the comments.
falsely asserts that Federal law permits banks to take its depositors’ funds.
To be fair, that is technically correct - banks take it’s depositor’s funds every day. It just omits the fact that they’re also required to give it back on demand.
The article claimed that the government “could decline using taxpayer funds to bail out a failing bank, and instead allow banks to confiscate a portion of all deposits.”
This is also “true”, if you add “over $250,000” to the end of the statement.
I’m not defending them, they are clearly intended to be grossly misleading. But they are walking a fine line, it’s more spin and errors of omission than outright making stuff up.
And I’m not sure what you mean about the comments, they’re mostly just rambling speculation that doesnt really get to anywhere in particular.