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3% 5 year CD with rate jump
Old 04-30-2018, 08:02 PM   #1
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3% 5 year CD with rate jump

Utah First Federal Credit Union is now offering a 3% 5 year CD with the right to request a change to the prevailing rates (assuming they go up) once within the five year period. And they still only have a six month early termination penalty. This seems like a pretty good deal to me. DH bought one today and I was able to confirm these terms in writing on the paperwork, even though I can't seem to find it anywhere on the web site.

I did also notice that Northwest FCU is now offering 3.15%, or 3.41% if you are a member of their club. I haven't researched exactly what the details of that are, but I did notice their early term penalty was a full year, so I'd probably pass on that one.

But it is nice to see rates going up again, finally.

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Old 05-01-2018, 05:22 AM   #2
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Yeah, I have been watching brokered 5 yr CD's with 3%+...... Personally, I think 2.75% 2 yr, and 2.9% 3 yr are the way to go in this rising rate environment. I can't seem to get past the tiny % increase given to lock the money up for 5 years. Will the 2 year hit 3% shortly? Sure looks that way.....

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Old 05-01-2018, 08:01 AM   #3
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Navy Federal also joined the 3 for 5 club. That rate bump feature that OP mentioned looks very attractive in the current rising rate environment. Several here including me are reluctant to go out 5 yrs but the rate bump is reassuring.
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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Old 05-04-2018, 12:19 AM   #4
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I'm one of a large group that got in on the Pen Fed 3% 5 year Cds and the same at two other institutions. My Pen Fed cds mature this December. I sure hope things keep moving upward as I will need to replace them.
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