6.11% apy 5 year CD but is it worth it?

MJ · 10-16-2007, 06:54 PM

One of the blogs I receive that track CD bargains alerted me about a NY CU which I once was a member, Polish and Slavic Federal Credit Union offering 6.11% apy for over $90k 5 year CD. I was about to mail the forms when I decided to check their rating. According to Bankrate, their performance is well below CU averages.

Even though they are NCUA insured, it is worth getting 50 to 60 basis points in a weak financial institution.

POLISH & SLAVIC
FAIRFIELD, New Jersey

Bankrate.com Star Rating: ««
Safe & Sound CAEL Rating: 4

Bankrate.com's Safe & Sound (tm) Bank, Thrift and Credit Unions rating feature

MJ

tjon72 · 10-16-2007, 07:17 PM

I'll be taking a secret vote on this one. Will get right back to you with the results !

MJ · 10-16-2007, 07:22 PM

Quote:

Originally Posted by tjon72

I'll be taking a secret vote on this one. Will get right back to you with the results !

Darn

Will you at least PM me with the secret results.

Achiever51 · 10-16-2007, 07:24 PM

Nie dzięki

That's "No Thanks" in Polish!

wcv56 · 10-17-2007, 02:27 AM

GED is at a discount now but not a CD. As rates go lower price
will get closer to the $25 orignal price.

brewer12345 · 10-17-2007, 07:26 AM

I just looked at their latest financials (June 30) and I don't see any obvious problems. They don't make a ton of money, but they have plenty of capital and asset quality appears to be good.

Looks OK to me. Just keep it under the insured amount.

tryan · 10-17-2007, 07:40 AM

Forgetting who has your $$ ... would you tie it up for 5 years. Seems like a long time.

10-16-2007, 06:54 PM	#1
MJ Thinks s/he gets paid by the post Join Date: Mar 2004 Posts: 1,995	6.11% apy 5 year CD but is it worth it? One of the blogs I receive that track CD bargains alerted me about a NY CU which I once was a member, Polish and Slavic Federal Credit Union offering 6.11% apy for over $90k 5 year CD. I was about to mail the forms when I decided to check their rating. According to Bankrate, their performance is well below CU averages. Even though they are NCUA insured, it is worth getting 50 to 60 basis points in a weak financial institution. POLISH & SLAVIC FAIRFIELD, New Jersey Bankrate.com Star Rating: «« Safe & Sound CAEL Rating: 4 Bankrate.com's Safe & Sound (tm) Bank, Thrift and Credit Unions rating feature MJ __________________ I look to the present moment because that's where I live my life.

10-16-2007, 07:24 PM	#4
Achiever51 Full time employment: Posting here. Join Date: Feb 2007 Location: Southeastern Michigan Posts: 786	Nie dzięki That's "No Thanks" in Polish! __________________ The best things in life....are not things.

10-17-2007, 07:26 AM	#6
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,248	I just looked at their latest financials (June 30) and I don't see any obvious problems. They don't make a ton of money, but they have plenty of capital and asset quality appears to be good. Looks OK to me. Just keep it under the insured amount. __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

10-17-2007, 07:40 AM	#7
tryan Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 1,461	Forgetting who has your $$ ... would you tie it up for 5 years. Seems like a long time. __________________ FIRE'd since 2005

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10-16-2007, 07:17 PM	#2
tjon72 Dryer sheet aficionado Join Date: Dec 2002 Posts: 42	I'll be taking a secret vote on this one. Will get right back to you with the results !

10-17-2007, 02:27 AM	#5
wcv56 Recycles dryer sheets Join Date: Oct 2007 Posts: 98	GED is at a discount now but not a CD. As rates go lower price will get closer to the $25 orignal price.

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