Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
CD Rates
Old 08-21-2007, 05:55 PM   #1
Dryer sheet aficionado
 
Join Date: Jun 2007
Posts: 41
CD Rates

I have mine and DW roths in cd's with fidelity and they are maturing at the end of this month. where is the best place to have cd's at this time. I don't want to put them into mutual funds at this time. we have enough in funds for the time being.
__________________

__________________
rpow53 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-21-2007, 06:01 PM   #2
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Hmm, why not roll into more CDs if you don't intend to invest the money? As for me, I never seem to have enough funds.

Edit - Ok, I thought you were asking where else to put the money in terms of asset classes. Yeah FWF, Bank blogspot, Emoneycentral and Bankrate are all pretty good.
__________________

__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Old 08-21-2007, 06:02 PM   #3
Thinks s/he gets paid by the post
twaddle's Avatar
 
Join Date: Jun 2006
Posts: 1,378
I believe Countrywide is offering pretty good rates. Are you feeling lucky?

Here's a continuously updated thread at FatWallet:

CD Thread, Post The Best Rates You Can Find Here!
__________________
twaddle is offline   Reply With Quote
Old 08-21-2007, 06:03 PM   #4
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Quote:
Originally Posted by rpow53 View Post
I have mine and DW roths in cd's with fidelity and they are maturing at the end of this month. where is the best place to have cd's at this time. I don't want to put them into mutual funds at this time. we have enough in funds for the time being.
I think that the general agreement here is that Bankrate.com (Compare mortgage rates, home loans, CD rates, auto loans, credit cards, mortgages and more) is good source for rate info. You may also want to check around locally, or with your credit union. My CU has never shown up in a rate search at bankrate.com. but its rates often meet the best/better rates I've found on the bankrate website.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Old 08-21-2007, 06:28 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,625
I wish to second the idea of looking locally as well. I'll give an example. You never would think that WellsFargo would have a decent CD rate, but I noticed a new branch office going in outside of town in a growing area. In order to attract depositors, they advertised an excellent rate for a 5-month CD with a big sign. The rate would have put them on that fatwallet list.

I cannot imagine that a Fidelity broker-sold CD would be monetarily worse than what you could get elsewhere. My spouse buys CD in her IRA at TDAmeritrade. Rates are not as good as at Vanguard, but the difference at the end of the year is probably less than $20.
__________________
LOL! is offline   Reply With Quote
Old 08-21-2007, 09:03 PM   #6
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by Leonidas View Post
My CU has never shown up in a rate search at bankrate.com. but its rates often meet the best/better rates I've found on the bankrate website.
If you can meet Navy Federal Credit Union's eligibility requirements, they've just ended a 10-month 5.83% $10K CD (6% APY) and they may bring something back later in the year. It's worth checking their website every few weeks.

Navy Federal: Rates

Pentagon Federal Credit Union (which anyone can join with a one-time donation to a military family support organization) is also offering three-year CDs at 5%.

https://www.penfed.org/productsAndRa...rtificates.asp
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 08-21-2007, 09:12 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
6% of any interest? Local credit union with a gooood rate for a little while yet. 'Course you need to be the right kind of Oregonian.
https://www.onpointcu.com/welcome.html
__________________
calmloki is offline   Reply With Quote
Old 08-21-2007, 09:14 PM   #8
Recycles dryer sheets
VoyT's Avatar
 
Join Date: Feb 2005
Posts: 445
I'd third the idea of banking locally ... we've gotten to know our branch manager, and she's been willing to match rates with competing banks. Never hurts to ask...
__________________
"Coffee: the finest organic suspension ever devised." -- Kathryn Janeway
VoyT is offline   Reply With Quote
Another web site with CD rates
Old 08-21-2007, 11:00 PM   #9
Recycles dryer sheets
 
Join Date: Aug 2007
Posts: 401
Another web site with CD rates

Here's another web site that I've gotten some good CD rates from:

Highest rates and yields on bank certificates of deposit (CDs) updated daily by money-rates.com.

The bankrate.com one mentioned above is also a good one.
__________________
DallasGuy is offline   Reply With Quote
Old 08-22-2007, 12:40 AM   #10
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
That 6% APY special looks attractive. Unfortunately I think I’m outside the zone on membership. I never joined the NFCU while I was on active duty – mostly because I believed that a Corporal’s pay should just be deposited directly into his account at the NCO club or the civilian bar of his choice. While I was in the reserves they tried to get us to join, but by then I was a member of the police credit union and in those days before ATM cards it just made a lot more sense to have a nearby physical place I could go get cash from 5 days a week.

I don’t recall my credit union ever offering specials on CDs. They do auto loan specials all the time, but never anything on savings products. So, I decided to check out NFCU and PennFed to see what their regular rates were like. I was very surprised to see that my itty bitty local credit union has better rates.

1 year CD Rates (APY)
PennFed – 4.34% ($1,000 min)
NFCU – 5.05% ($1,000 min)
My CU – 5.44% ($1,000 min)

Regular Savings Rates (APY)
PennFed – 1.2% $5 min
NFCU – 1.41% $5 min
My CU – 1.51% $5 min (with 2.02% on balances of $2,500 or greater)

*NFCU had a ton of “member specials” that were too many to go through, but some of them (like that 6% APY) looked pretty good. If you keep you eye on their site I think you could pick up some nice rates every now and then.

My first thought was that the really big credit unions should have had better deals. I guess I was thinking of something along the lines of economies of scale. And PennFed and NFCU are huge compared to my CU:

PennFed – 775,000 members / $9,000,000,000+ assets
NFCU – 2,911,395 members / $30,016,926,000 assets
My CU - 25,025 members / $286,700,000 assets

Size, apparently, does not give an advantage.

Is it a question of overhead? Both PennFed and NFCU have many more locations (spread out across the world) as opposed to a main office and two branches located inside one city.

Or is it a question of the business model. Do their memberships have a higher default rate on loan products?

Is it exclusivity of membership? PennFed has a lot fewer members than NFCU, but the rates at NFCU are better. The membership at PennFed seems a lot less exclusive than NFCU, and my CU is even more so. There are a lot of so-called "community credit unions" that have huge memberships and their rates stink. Some of the smaller, more exclusive community credit unions have better rates - but the best rates seem to belong to those CUs that have membership based solely on a single employer and immediate family members of those employees. None of this is the product of exhaustive research, just some cruising around of different websites.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Old 08-22-2007, 05:41 AM   #11
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Check out National Credit Union Administration -Downloadable Data, Graphics, and Software for a lot of data on all Credit Unions.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 08-22-2007, 11:47 AM   #12
Thinks s/he gets paid by the post
twaddle's Avatar
 
Join Date: Jun 2006
Posts: 1,378
I'm surprised nobody has commented on the 10% CD from the FatWallet thread I posted.

BRIDGEVIEW BANK | 90/10 CD

Short-term CDs don't excite me, but if you're looking for a "bonus"....
__________________
twaddle is offline   Reply With Quote
Old 08-22-2007, 12:39 PM   #13
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
BRIDGEVIEW BANK: I went there but I could not find anything about FDIC insurance. Also you must open a Checking Account with a direct deposit. Got a few strings attached. When I googled them I read some stuff, while some looked a bit outdated, makes me a bit cautious.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 08-22-2007, 01:06 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
At the very bottom of their website, it has 'Member FDIC'. The name in the same section is Bridgeview Bank Group.
__________________
KB is offline   Reply With Quote
Old 08-22-2007, 05:40 PM   #15
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Quote:
Originally Posted by KB View Post
At the very bottom of their website, it has 'Member FDIC'. The name in the same section is Bridgeview Bank Group.
Now I see it -- must be going blind in my old age.
__________________

__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Residential Lease Rates ... Increase? Craig FIRE and Money 3 02-28-2005 02:16 PM
Low Interest Rates Here To Stay? Donner FIRE and Money 23 02-13-2005 03:02 PM
CD Rates, a plan? Telly FIRE and Money 11 11-03-2003 09:33 PM

 

 
All times are GMT -6. The time now is 05:26 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.