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Old 07-08-2018, 06:29 PM   #121
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In July 2016 I joined Andrews to take advantage of a 3% CD special they had for my Roth IRA. Anyone joining, prepare for delays and several phone calls and time on hold to get your membership and CD started. Not an easy join. In person may be different. Otherwise, they have done fine, but I have had no other dealings with them but check account every 3 months.

Yeah the customer service can be spotty.
I had no problems getting qualified and joining up online. I did call them once and it was not the best experience. I funded the CD in person and that went well also. I usually download the forms and fill them out before I go. I think the forms were not too easy to locate on the website and fill out. They can be mailed in also.
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Old 07-11-2018, 02:37 PM   #122
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Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.
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Old 07-11-2018, 04:59 PM   #123
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Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.
Did you transfer up to $10K (their limit) through them?
I am transferring a much higher amount so I had to wire the funds. Hopefully the funds will arrive by tomorrow PM so I can open that 9 month CD.
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Old 07-11-2018, 05:05 PM   #124
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Did you transfer up to $10K (their limit) through them?
I am transferring a much higher amount so I had to wire the funds. Hopefully the funds will arrive by tomorrow PM so I can open that 9 month CD.
There are no such limits if you initiate the transfer from the source institution (assuming the source institution has much higher limits). I had no trouble transferring in a larger amount via ACH, initiating it at my brokerage.
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Old 07-11-2018, 05:31 PM   #125
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Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.

Good job.

That is actually one reason I like the new issue CDs at Fidelity that have an issue/settle date a few days or a week or so later - if rates adjust or something better shows up you can just click the button to cancel. I've done it a few times in the past.

In addition to my CD acquisitions lately (3.11% for 2.5 years today, 3.52% for 5 years yesterday), I've also continued churning the bank bonus offers for opening new checking/savings accounts. Those are getting me up to 25% APY. I've encountered a couple banks that give me push back where they won't open an account if they can't do a credit check - I have mine frozen and won't unfreeze it for them to play their games. Aside from that, it's easy risk free money.
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Old 07-11-2018, 10:55 PM   #126
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There are no such limits if you initiate the transfer from the source institution (assuming the source institution has much higher limits). I had no trouble transferring in a larger amount via ACH, initiating it at my brokerage.
Yes, I know but you normally have to wait 2 to 3 business days to confirm the trial deposits to establish a link before you can do an ACH which may take an additional 2 to 4 days to complete. That is why I did a (free) wire transfer today which will be completed by tomorrow afternoon.
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Old 07-14-2018, 09:46 AM   #127
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Amex Bank now up to 1.75% on High Yield savings. Was 1.65% this time last month.


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Old 07-14-2018, 02:21 PM   #128
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Yes, I know but you normally have to wait 2 to 3 business days to confirm the trial deposits to establish a link before you can do an ACH which may take an additional 2 to 4 days to complete. That is why I did a (free) wire transfer today which will be completed by tomorrow afternoon.
I just wanted to provide update regarding wiring funds to Andrews federal CU. While the wire transfer from Cit Bank was free, on unbeknownst to me, Andrews charged $10 for incoming wires. This the 1st time I ever experienced non-commercial institutions charging for incoming wires. Of course, I did a little footwork and as a courtesy they waved the fee. Apparently, they started charging the fee the beginning of June.

I mention Cit Bank early and wanted to remind people that their money market rate is 1.85% APY .
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Old 07-14-2018, 02:46 PM   #129
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I just wanted to provide update regarding wiring funds to Andrews federal CU. While the wire transfer from Cit Bank was free, on unbeknownst to me, Andrews charged $10 for incoming wires. This the 1st time I ever experienced non-commercial institutions charging for incoming wires. Of course, I did a little footwork and as a courtesy they waved the fee. Apparently, they started charging the fee the beginning of June.

I mention Cit Bank early and wanted to remind people that their money market rate is 1.85% APY .
Ouch! Surprise! Thanks for the warning.

I have never wired funds to deal with a CD purchase.
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Old 07-14-2018, 03:04 PM   #130
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Iím currently waiting for AFCU to initiate the trial deposit process with my bank so I can use ACH to xfer funds.
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Old 07-14-2018, 04:36 PM   #131
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Through Fidelity I used their fast login scheme to link to my Andrews account and I was able to transfer the funds to the Andrews Base Savings account and buy my CDs very quickly.

Initially through Andrews I set up a transfer from my bank account just for the required $5 in the Base Savings account. If I recall - the Fidelity transfers actually got there before the pull from my bank account did - yep, by a couple of days!

Once you have the account and routing number you can initiate a transfer from another financial institution.

Andrews has pretty low daily and monthly ACH transfer limits. It's best to send the funds from another account with higher transfer limits.
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Old 07-14-2018, 04:59 PM   #132
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Iím currently waiting for AFCU to initiate the trial deposit process with my bank so I can use ACH to xfer funds.
Andrews has pretty low daily and monthly ACH transfer limits. It's best to initiate a fund transfer from another account with higher transfer limits.
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Old 07-14-2018, 07:57 PM   #133
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Although it has been hit or miss, Ally gives you the option to verify an ACH link right away. This time it worked and I got verified within 30 seconds with Andrews.
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Old 07-14-2018, 09:49 PM   #134
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Although it has been hit or miss, Ally gives you the option to verify an ACH link right away. This time it worked and I got verified within 30 seconds with Andrews.
Good deal!
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Old 07-15-2018, 05:00 AM   #135
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Iím currently waiting for AFCU to initiate the trial deposit process with my bank so I can use ACH to xfer funds.
Me too. I applied WEDNESDAY and my application is still pending. I called Friday to confirm everything was ok with the application. They confirmed all was well but that they are swamped due to all of the promotions.

At this rate I'll be lucky if the 9 month CD is still available by the time my account is opened.
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Old 07-15-2018, 07:17 PM   #136
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Me too. I applied WEDNESDAY and my application is still pending. I called Friday to confirm everything was ok with the application. They confirmed all was well but that they are swamped due to all of the promotions.



At this rate I'll be lucky if the 9 month CD is still available by the time my account is opened.

Whatís pending...your application to open an account or your transfer request?
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Old 07-15-2018, 08:29 PM   #137
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When I applied 2 years ago, folks reported over 2 week wait just to get an account open.
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Old 07-15-2018, 08:51 PM   #138
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I usually have our cash sitting in Vanguard's Prime Money Market, currently at 2.05%. Merrill has a preferred deposit that is currently at 1.82%, but you need to have an initial investment of $100,000, but it's ok to drop below that afterwards.

For those that are looking for high yield savings accounts (not cd's), are you looking to banks rather than money market funds at a brokerage such as Vanguard due to FDIC insurance? Just curious.
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Old 07-15-2018, 09:01 PM   #139
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Suppose to be 2 more rate increases this year. ? My plan is to wait for 4-5% Cd rates.
3%/5yr was non-existent a few months ago. Now very common. Patience.
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Old 07-15-2018, 09:09 PM   #140
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Whatís pending...your application to open an account or your transfer request?
I suspect it is the application process. It took quite a while before I got notification of approval. I also did not know what to do when I got approved on the application. There was no indication of how to open an online account - no email instructions. It was complicated by the fact that over the Xmas holidays I was traveling and did not have access to my snail mail. I didnít know if I had been mailed relevant account information - actually I donít think I was - I didnít have my account number!

So when I received a customer survey email I spelled out in detail the difficulty I had and that I had missed the deadline for their offered CDs because I hadnít had access online in time to transfer funds. A couple of weeks later, I get a call from a branch manager of one of the Andrews branches, and he tells me I am still eligible to buy a special CD because I had applied before the deadline. So he gave me my account number, and set me up online access to my account right there while I was on the phone. And I was able to a l to get the transfers done. As it happened, around that time the CD became available as a standard CD anyway.
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