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Re: 6.25% CD ?
Old 01-29-2007, 10:49 PM   #121
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Re: 6.25% CD ?

Quote:
Originally Posted by Cute Fuzzy Bunny
One small piece of data...a new account holder (less than six months) may only open one cd of up to 10k over the phone. Not one per call, but one cd in the six month period.

A new account holder that is not in or retired military has to get their pin in the mail. Cant do any transactions online until you have the pin.

Dang phone rang busy for half an hour until I got through and did the 15 minute wait on hold.

And they still havent received and processed my certificate order...
Well, in the same session when I created a new on-line membership, I clicked on a link that brought me to the "purchase certificates" section, and I purchased two $10k CDs.....just have to know where to guess and click, I suppose.
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Re: 6.25% CD ?
Old 01-29-2007, 11:51 PM   #122
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Re: 6.25% CD ?

Quote:
Originally Posted by Old Army Guy
Welcome to the world of PENFED. A very good Credit Union with many, many, options on how to treat your money (almost every one of them good and to your benefit).
Amen. Got my first credit card bill today and they simply deducted the "cash back"
right out of the bill. No waiting 'til the end of the year. No jumping through hoops
to get your money.

But I wish there was a way to electronically pay your bill without having to make two
separate transactions - one from your bank account (if it's elsewhere) to your Penfed
account, and another (internal to Penfed) from your account to your CC.

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Re: 6.25% CD ?
Old 01-30-2007, 06:20 AM   #123
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Re: 6.25% CD ?

Rusty: There is, call them and you can set up an automatic ACH transfer from your usual (non-PENFED) checking account. I believe they (PFCU) will transfer you directly to VISA to set it up.
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Re: 6.25% CD ?
Old 01-30-2007, 01:43 PM   #124
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Re: 6.25% CD ?


Just talked to Penfed (the telephone wait is getting pretty long !) and they said,
if you apply for the 6.25% CD on the website and initiate the ACH transfer, by Jan 31,
you are cool for the 6.25% rate, even though of course your bank won't get the
money to them until a couple days later.

Quote:
Originally Posted by Old Army Guy
Rusty: There is, call them and you can set up an automatic ACH transfer from your usual (non-PENFED) checking account. I believe they (PFCU) will transfer you directly to VISA to set it up.
I asked about this and they said the auomatic ACH transfer can only be for the minimum
payment - or I'd suspect some other fixed amount you specify. But if you want to pay
the thing off in full every month, the two-step process (one from you local bank to
Penfed, another internal to Penfed) is the only electronic option.

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Re: 6.25% CD ?
Old 01-30-2007, 01:45 PM   #125
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Re: 6.25% CD ?

Quote:
Originally Posted by RustyShackleford
I asked about this and they said the auomatic ACH transfer can only be for the minimum
payment - or I'd suspect some other fixed amount you specify. But if you want to pay
the thing off in full every month, the two-step process (one from you local bank to
Penfed, another internal to Penfed) is the only electronic option.
FWIW, I can pay my penfed credit card off directly from my BofA online banking, just like any other credit card.
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Re: 6.25% CD ?
Old 01-30-2007, 01:52 PM   #126
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Re: 6.25% CD ?

Quote:
Originally Posted by wab
FWIW, I can pay my penfed credit card off directly from my BofA online banking, just like any other credit card.
Do you initiate the payment at BOA ? Maybe I didn't phrase the question (and
my posting) correctly, and it can only be done 2-step *at the PFCU website*.

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Re: 6.25% CD ?
Old 01-30-2007, 01:57 PM   #127
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Re: 6.25% CD ?

Quote:
Originally Posted by RustyShackleford
Do you initiate the payment at BOA ? Maybe I didn't phrase the question (and
my posting) correctly, and it can only be done 2-step *at the PFCU website*.
Yes, it's one-step initiated from BofA, and I imagine it would have to be two-steps initiated from PenFed.

Recently, I've started paying off our PenFed credit card directly from our PenFed CD interest (once it gets to the share account).
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Re: 6.25% CD ?
Old 01-30-2007, 04:17 PM   #128
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Re: 6.25% CD ?

Rusty: I just checked and my VISA bill is paid from my PFCU Share Account in full each month. When I set is up a few years ago they gave me the option of the MMA, Checking Account or Share. Since, at the time, I did not have a MMA or Checking account with them I opted for the Share Account. Sorry, I guess I was wrong. I usually just pay it early from my PFCU MMA. I have paid it from another checking account (non-PFCU) but that was using another CU FREE "Bill Payer" program. Guess that is where I got it wrong.
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Re: 6.25% CD ?
Old 02-01-2007, 08:19 AM   #129
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Re: 6.25% CD ?

FYI, the new PenFed CD rates (APY) are as follows:

3yr - 5.50%
4yr - 5.50%
5yr - 5.75%
7yr - 6.00%

I guess all good things must come to an end...

Jim
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Re: 6.25% CD ?
Old 02-01-2007, 10:17 AM   #130
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Re: 6.25% CD ?

Quote:
Originally Posted by MooreBonds
Well, in the same session when I created a new on-line membership, I clicked on a link that brought me to the "purchase certificates" section, and I purchased two $10k CDs.....just have to know where to guess and click, I suppose.
I didnt get that option; I finished the online account application and it told me I'd get something in the mail shortly, then I got the penfed main screen.

Apparently theres some differences, perhaps based on whether you're in the military, have a friend in the military, are joining via the joint application to the military families club or are on any suspected terrorist lists

So anyhow, on my 3rd call today I finally heard that they did NOT receive my cd applications mailed on 1/23. However, the nice lady took my information over the phone, created the cds and backdated them to the 18th when my deposit went through.

None of this was allowable the last time I called, so apparently theres some variability depending on who you talk to in customer service...ORRRR they got slammed with certificate requests and they're pedaling as fast as they can.

One thing I didnt know but was advised...their customer service is open 24 hours a day, seven days a week...which actually makes sense considering their customers are located all over the world. I was notified that it was a good idea to call late in the evenings to avoid long hold times.
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Re: 6.25% CD ?
Old 02-01-2007, 01:38 PM   #131
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Re: 6.25% CD ?

doub't you'll find many financial institutions as user-friendly as that!

(but you must have missed something on the screen re on-line purchase)
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Re: 6.25% CD ?
Old 02-01-2007, 03:27 PM   #132
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Re: 6.25% CD ?

Indeed.

As far as the online purchase, I dont think I did. Got the "application completed" (or whatever) screen with one button to go to the main page, and that required me to log in (pin needed) to do anything constructive.

Remember that I have no PIN at this point to login or do anything online, nor at that time did I have a balance in the account to buy anything with...

Perhaps something about how I applied or that i'm using firefox when others might be using IE?

I'm almost tempted to do a fake registration again to see, but this CU is associated with people who blow things up and kill people
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Re: 6.25% CD ?
Old 02-01-2007, 06:45 PM   #133
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Re: 6.25% CD ?

Quote:
Originally Posted by d
doub't you'll find many financial institutions as user-friendly as that!

(but you must have missed something on the screen re on-line purchase)
Indeed. They seem a bit 'unsophisticated' technology wise, but also refreshingly (startlingly!) 'dedicated to service'.

That' a combo I can certainly live with!
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Re: 6.25% CD ?
Old 02-01-2007, 07:52 PM   #134
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Re: 6.25% CD ?

Quote:
Originally Posted by Cute Fuzzy Bunny
Indeed.

As far as the online purchase, I dont think I did. Got the "application completed" (or whatever) screen with one button to go to the main page, and that required me to log in (pin needed) to do anything constructive.
Check.

Quote:
Originally Posted by Cute Fuzzy Bunny
Remember that I have no PIN at this point to login or do anything online, nor at that time did I have a balance in the account to buy anything with...
Si, senor. Ni yo tampoco (nor I as well).

Quote:
Originally Posted by Cute Fuzzy Bunny
Perhaps something about how I applied or that i'm using firefox when others might be using IE?
Well, I used Firefox as well (but can't stand it when I come across websites that blow up when you aren't using MSIE). When I finished my application, I saw the same screen that had a link to take me back to the main page. However, on that same page, there was also a link (an ad) for "great deals". I think it showed their 5.99% mortgage (?), so I clicked on it, hoping it would take me to the certificates. I guessed correctly, and wound up continuing my secure session and bought two 7-year certificates. Luckily, I didn't put more than $10k in each, as I found out during my certificate purchase that that is the limit for ACH transfers.
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Re: 6.25% CD ?
Old 02-02-2007, 07:15 AM   #135
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Re: 6.25% CD ?

I have used IE 6, 7, 7+ (VISTA BETA 1 & 2) and currently use FIREFOX 2 and with all these software titles I can access ALL of PFCU's screens and do on-line banking, bill pay, funds transfer ect. I will admit that at times it took some pretty close reading to get to what I wanted; they seem to improved that a bit recently.

In the past I have set up a PIN via a phone call. They used a system where the customer service rep switched you to another system and you entered the pin (4 digit) code from your touch phone. customer rep comes back on line and tells you you may have to wait a couple of hours to actually now use the pin. I have also reset the pin in this manner at various times because I felt a new one was prudent from a security viewpoint. You were actually able to lock yourself out by putting in your password wrong three consecutive times. I do not know if this is the case with the new security revisions they recently made. BTW PFCU's security methods are as strong as I have seen on any on-line service I currently use.
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Re: 6.25% CD ?
Old 02-02-2007, 10:36 AM   #136
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Re: 6.25% CD ?

Quote:
Originally Posted by MooreBonds
there was also a link (an ad) for "great deals".
Ah, that may have been the case. I wouldnt have intuited an ad for a mortgage to be an entry to buying cd's.
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Re: 6.25% CD ?
Old 02-07-2007, 02:40 PM   #137
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Re: 6.25% CD ?

Quote:
Originally Posted by RustyShackleford
....

I asked about this and they said the auomatic ACH transfer can only be for the minimum
payment - or I'd suspect some other fixed amount you specify. But if you want to pay
the thing off in full every month, the two-step process (one from you local bank to
Penfed, another internal to Penfed) is the only electronic option.

Maybe I'm late to the game, but as a lazy slug and new PenFed charge card holder i wanted to have it automatically suck monthly payment in full from my local non-PenFed checking account. Called a couple times and got duplicate information, so hopefully it's real: Watcha do is to go to the opening PenFed screen, click "forms", go to the 6th item down, "Authorization Agreement for Automated Clearing House (ACH) Debit ", enter your charge card # as the loan #, fill it out and in section "A" make your own little box to check and label it "credit card payment in full each month". Send it in. Looks to me like you should enclose a voided check and send them 2 copies of the form. Anyway, that's what i'm doing - hope it works! Not really transparent, but gotta give 'em credit for being cheerfull and hometown bank feeling when they are called.

edited to give the real form rather than the wrong one
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Re: 6.25% CD ?
Old 02-07-2007, 02:51 PM   #138
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Re: 6.25% CD ?

For those who missed out on PenFed's deal, NFCU has come through with their promised response.

Limited Offering Share Certificate:
$8,000 minimum
15-month term
5.83% dividend rate
6.00% APY (with reinvested dividends)

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Re: 6.25% CD ?
Old 02-07-2007, 03:31 PM   #139
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Re: 6.25% CD ?

too little, too late! (but if one's looking for a shorter (<3 yr) term, it's appealing ... any hint's on how the general population can join?)
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Re: 6.25% CD ?
Old 02-07-2007, 03:36 PM   #140
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Re: 6.25% CD ?

Quote:
Originally Posted by calmloki
Maybe I'm late to the game, but as a lazy slug and new PenFed charge card holder i wanted to have it automatically suck monthly payment in full from my local non-PenFed checking account. Called a couple times and got duplicate information, so hopefully it's real ...
I wouldn't call you lazy. Thanks for figuring this out ! I called and re-verified.

Quote:
Looks to me like you should enclose a voided check and send them 2 copies of the form.
Looks to me like you send one copy to your bank (as opposed to a 2nd copy to them
which they forward to your bank), and they agreed.

I wasn't quite clear on when they make the ACH transfer, so only downside
might be if you like to float the free loan a little closer to the due date.

Quote:
... gotta give 'em credit for being cheerfull and hometown bank feeling ...
Amen. And I like the fact that it's a non-profit making the money off the card.

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