Just a heads-up for anyone renewing a Penfed CD. I received a maturing CD notice today, and included was a disclosure with outdated info. It states that the early withdrawal penalty for "Certificates having a term greater than six months and up to and including 5 years" is 180 days interest. The actual penalty for a 5 year CD changed to 365 days in March.
dakota26 said: Just a heads-up for anyone renewing a Penfed CD. I received a maturing CD notice today, and included was a disclosure with outdated info. It states that the early withdrawal penalty for "Certificates having a term greater than six months and up to and including 5 years" is 180 days interest. The actual penalty for a 5 year CD changed to 365 days in March.
Thanks for the reminder. Trying to decide on rolling over or just moving somewhere else (still need to jump on the I-bond train)
I asked Mods. they said that it could be brought up to bosses but didnt really want to clutter up page. When original stickys got deleted, mods asked which threads were there before. So we got what we got. I SUGGESTED we delete one of the others. Which one I wont say but I can see the fight coming if changed.
castaline said: When original stickys got deleted, mods asked which threads were there before.This thread was listed there. I know, because I posted it.
guardian44 said: Prob'ly should have posted this earlier:
The TCB "option 3 conversion" CD deal [30 months @ 1.60%] remains viable through July 15th with no loss of interest. They extended the old rate on savings to allow more time to process all the conversion applications.
For those unaware this is for conversion of existing savings accounts paying the same rate. The rate is locked for thirty months, but the CD provides for (it allows) a single penalty-free withdrawal (all or part) at any time after account is opened.
For anyone who might have done this (i.e., the above) deal:
Did you get the TCB letter? Did you read about TCB current events on Ken's blog?
Alaska USA FCU certificate rates 5 year Certificate, $500 minimum, 2.50% APY 5 year Certificate, $10k minimum, 2.65% APY as of 12/08/11
I just saw this posted in the CD thread.
Any one know of a creative way to join? They don't list any membership rules. I called and I'm close to the requirements the CSR listed. I need to worship in a nearby church and I'd love to do that but unlike most CU's Alaska USA FCU doesn't list the churches.
guardian44 said: guardian44 said: Prob'ly should have posted this earlier:
The TCB "option 3 conversion" CD deal [30 months @ 1.60%] remains viable through July 15th with no loss of interest. They extended the old rate on savings to allow more time to process all the conversion applications.
For those unaware this is for conversion of existing savings accounts paying the same rate. The rate is locked for thirty months, but the CD provides for (it allows) a single penalty-free withdrawal (all or part) at any time after account is opened.
For anyone who might have done this (i.e., the above) deal:
Did you get the TCB letter? Did you read about TCB current events on Ken's blog?
Any reaction or concerns?
Guess it's all academic now!
"The Moving Finger writes; and, having writ, Moves on: nor all thy Piety nor Wit Shall lure it back to cancel half a Line, Nor all thy Tears wash out a Word of it."
I have avoided insurance annuities as an alternative to CD's because they aren't FDIC or NCUA insured. Now I'm told each state has a "Life and Health Insurance Guaranty Association" that's comparable to the FDIC. Anyone know more on this? My research indicates it's state funded so it can't be as good as FDIC.
I found a 5 year annuity that yields 3.20%, compounded. Because it grows tax deferred, and depending on your tax rate, the tax equivelent interest rate would be: 4.27% if you have a 25% tax rate, or 3.76% if you have a 15% tax rate.
Anyone here used insurance annuities as an alternative to CD's?
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