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Old 01-05-2019, 09:04 AM   #41
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I wonder how large the hit has been to PenFed's deposit base as a result of this change in policy and competitive rate availability elsewhere? I suspect it has been substantial.
Well, their customer service reps are busy doing something. The 2 times I called Penfed last week, I had to wait on hold for about 15 minutes each time. At this point I do plan on getting some cd's with them, for the 3.5 % 5 year option, even with the 1.5 year early withdrawal penalty. I think the deposit base at my other credit union might be taking a hit, though. It's 1.8 % there for my existing 5 year cd's. And their *new* 5 year rate is only 2.1 %. I would imagine the flood gates are open, with folks bailing out.
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Old 01-05-2019, 09:07 AM   #42
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15-30 minute wait time at Ally all last week....
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Old 01-05-2019, 11:34 AM   #43
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I went ahead (yesterday) and pulled the trigger on several brokered CDs through TD Ameritrade. Two 5-yr at 3.4% and a 1-yr at 2.6%. These were issued by Citibank and BofA respectively
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Old 01-05-2019, 11:44 AM   #44
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I went ahead (yesterday) and pulled the trigger on several brokered CDs through TD Ameritrade. Two 5-yr at 3.4% and a 1-yr at 2.6%. These were issued by Citibank and BofA respectively
Good job!

My view has always been not to fret too much over the rate you get. Unless you are investing a couple million, the additional 0.1% or 0.2% you might be able to get is not going to make too much of a difference. Further, if you wait, rates may continue lower, and in the mean time you'd be sitting in a cash account missing out on the differential.

I am rolling out maturing CDs and municipal bonds monthly. I've found it best to hunt around for a day or two at most (I'm actually doing the hunting in the days prior to maturity so I'm ready to go when the money is released) and go with what's available to you.
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Old 01-05-2019, 11:47 AM   #45
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I think banks and CUs will always want our money to lend to others at more than what they give us. So there will be plenty more CDs in the coming months. In the meantime ~2.4% for hard money in MM is just fine.
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Old 01-05-2019, 11:51 AM   #46
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I just went back to TD Ameritrade to maybe purchase another CD and......they.....are......all.......gone. Well, almost; a 3 year and a 7 year are still offered, but at much lower rates. There appeared to be quite a few short-duration CDs still available, however
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Old 01-05-2019, 12:03 PM   #47
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I just went back to TD Ameritrade to maybe purchase another CD and......they.....are......all.......gone. Well, almost; a 3 year and a 7 year are still offered, but at much lower rates. There appeared to be quite a few short-duration CDs still available, however
I mentioned earlier this morning (near the end of previous page of replies) that there were 65 available at Fidelity, now there are only 57. Still the same number of 5 and 10 years, though the number of each available is going down. Sure seems that it is indeed a mad rush flight to quality.

Only two 3-year remaining at 2.75% and 2.8% and two 4-year remaining at 3.0%.
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Old 01-05-2019, 12:15 PM   #48
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I mentioned earlier this morning (near the end of previous page of replies) that there were 65 available at Fidelity, now there are only 57. Still the same number of 5 and 10 years, though the number of each available is going down. Sure seems that it is indeed a mad rush flight to quality.

Only two 3-year remaining at 2.75% and 2.8% and two 4-year remaining at 3.0%.
Sallie Mae and Live Oak Savings are offering 3.0 percent with directly purchased 24 month CD's. Only $2,500 minimums at both institutions. I have money at both institutions and I am tempted. VUSXX is at 2.31 percent compounded right now and Sallie Mae MM and savings are both at 2.20 percent for reference.

My minimum to tie up money now is 3.0 percent, so the offers are tempting...

ETA: Sallie and Live Oak are also at 2.85 percent for a one year CD.

You can do a little better at these terms if you are willing to take on one of the lesser known banks.
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Old 01-05-2019, 06:11 PM   #49
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^^^^^^^^^^ They have at Vanguard too.


Columbia Credit Union (WA/OR) 30-Month CD Earns Up To 3.60% APY

Limited to Washington / Oregon States

This looks good to me so guess I will be joining another CU. It's local for me so should be easy to go to one of their branches and set up a new account.
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Old 01-06-2019, 09:17 AM   #50
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I just went back to TD Ameritrade to maybe purchase another CD and......they.....are......all.......gone. Well, almost; a 3 year and a 7 year are still offered, but at much lower rates. There appeared to be quite a few short-duration CDs still available, however
That's too bad! I was hoping to open a one year CD there in the New Year.
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Old 01-06-2019, 09:31 AM   #51
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My next Big PenFed CDs mature in February. I hope there will be something available then.
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Old 01-06-2019, 12:50 PM   #52
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Goldman Sachs (Marcus) savings now at 2.25%
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Old 01-06-2019, 01:05 PM   #53
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My next Big PenFed CDs mature in February. I hope there will be something available then.
Penfed is offering 1 year CD @2.8% and 5 year CD @3.5% APY.
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Old 01-06-2019, 01:09 PM   #54
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That's too bad! I was hoping to open a one year CD there in the New Year.
There will be plenty more. It's not as if there won't be new one year CDs. The question is what the rates will be when you're ready to buy?
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Old 01-06-2019, 02:36 PM   #55
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Navy Fed has a new CD special starting tomorrow. To go along with the 40 month 3.75% IRA CD. In case anyone is interested. No details at this time...
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Old 01-06-2019, 03:06 PM   #56
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Navy Fed has a new CD special starting tomorrow. To go along with the 40 month 3.75% IRA CD. In case anyone is interested. No details at this time...
40 month at 3.75%? We went 60 month at 3.5% and thought that was a good deal. It was with Wells Fargo and now I'm concerned. They are FDIC protected, aren't all CD's?
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Old 01-06-2019, 03:10 PM   #57
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40 month at 3.75%? We went 60 month at 3.5% and thought that was a good deal. It was with Wells Fargo and now I'm concerned. They are FDIC protected, aren't all CD's?
Wells Fargo CDs are FDIC insured, as are over 99% of all CDs - no reason to lose even a wink of sleep. I have seen only one or two instances of a CD that was not FDIC insured a couple years ago on Etrade. They had big bold fonts and asterisks around it advising that it was not FDIC insured.

Credit union CDs are insured by NCUA - a credit union version of FDIC.
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Old 01-06-2019, 03:15 PM   #58
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Penfed is offering 1 year CD @2.8% and 5 year CD @3.5% APY.
Yes but will they be available in Mid February, that is the question.
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Old 01-06-2019, 03:24 PM   #59
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Looking for a 2 yr and a 5yr. now ......... Trying to fix my ladder. lol lol
Was going to go through Charles Schwab on those 2. But the 2 and 5 yr. sold out last week. Will be interesting to see the rates when they reappear.

I would be happy with a 3% 2 yr and 3.5% 5 yr..........
Recently picked up a ton of 1 yr 2.7% and tiny bit of 5 yr at 3.4%.
Will be interesting if things just sold out, or if CD rates will continue to fall....
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Old 01-06-2019, 03:58 PM   #60
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Yes but will they be available in Mid February, that is the question.
It's true. The rates may change later. Mine will expire in about a week. Penfed is sending emails as a reminder to renew. The last step of the instruction for renewal is:

6. Click Update and we will update our records to renew your Certificate with the new term you selected. The rate of your Certificate will be determined on the date your existing Certificate matures.

Therefore, you may not receive the rate as advertised now.
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