Great CD rate being offered by USAlliance FCU

[Earl E Retyre]

Thanks for the update.
Interesting, I have never gotten to a funding screen. My application went right to the 'pending' stage, no option to add funding information.
Hope it's going through ok.

Interesting that we got different screens ... I had about 4 screens of info including funding the account. I received an email that said "Our New Accounts Online team is currently processing your application and will follow up with you should additional information be required. ... You will receive your Membership Application via email within 2 business days."

 

[brewer12345]

Thanks Brewer!
I'm pending now as well.
I have another question: If the maximum balance is $100,000, can you fund it with $100,000 and the dividends will go over the maximum balance, or is $100,000 the maximum balance that the account can ever be and at this point all dividends will be paid to the (required) savings account and thus not compounded?


Sorry if it's a stupid question, I've never opened a CD before.

I think 100k is all they will pay the big rate on

 

[panhead]

OK, about those who didn't see the funding screen, if you go to the screen where it says your application is 'pending' you should see a link next to this to 'edit application' if this link is there and active, click on it. At the bottom of each page there is a 'next' button. Keep filling out any info that you haven't completed and click next. You will eventually get to the funding screen. when you are done it will be obvious, and when I went back to the screen that said 'pending' it now says 'referred'.
Somehow, we all exited before we were done, probably using the 'finish and save later' thinking it was a just a 'finish' button.

 

[panhead]

Note that the initial deposit is limited to $15k, but you can add to it later once it is opened. It will still be at the same 3% rate which is guaranteed for the life of the CD.

 

[Golden sunsets]

I am in the process of attempting to open an account on line. I did just speak to a customer service rep and she indicated that the on line app would walk me through everything from becoming a member of FAN to opening the share account and 3.04% CD and completing the info on the bank that the funds will be transferred from. I have started that app but the the screen showing the various types of accounts that can be opened does not show any APR on the 3 year Dream CD. Has anyone else else encountered this?

 

[Earl E Retyre]

I am in the process of attempting to open an account on line. I did just speak to a customer service rep and she indicated that the on line app would walk me through everything from becoming a member of FAN to opening the share account and 3.04% CD and completing the info on the bank that the funds will be transferred from. I have started that app but the the screen showing the various types of accounts that can be opened does not show any APR on the 3 year Dream CD. Has anyone else else encountered this?

Yes I encountered the same thing and was concerned too ... but after I entered all my bank routing info and got to the final confirmation screen it did indeed confirm it was 3%. I agree it would be nicer if it said that on the initial screen.

 

[brewer12345]

OK, about those who didn't see the funding screen, if you go to the screen where it says your application is 'pending' you should see a link next to this to 'edit application' if this link is there and active, click on it. At the bottom of each page there is a 'next' button. Keep filling out any info that you haven't completed and click next. You will eventually get to the funding screen. when you are done it will be obvious, and when I went back to the screen that said 'pending' it now says 'referred'.
Somehow, we all exited before we were done, probably using the 'finish and save later' thinking it was a just a 'finish' button.

Thanks very much. Never saw any of this while I was doing the application. I could not get through on their customer service line for anything, so I imagine they are getting overwhelmed.

 

[CountingDown2014]

Thanks adrift and others for the info - just set up my account and the process went fairly smoothly.

 

[panhead]

One more quick comment. My account was in 'referred' state as of this morning so I called and after a <5 minute wait, talked to a CSR and asked them if I did everything right. I was put on hold and immediately after received an email to upload a photo of my license. So I think these things are trickling through, but some are taking longer than others.
There also seems to be a question of how to fund up the full $100k. You may have to visit a 'shared branch' to do this, which doesn't appear to be a big deal as they appear to pretty available nationwide. The CSR thought this to be the case, but wasn't 100% sure.

 

[Rosie]

I originally intended to set up a 3-yr CD ladder. I funded the 1 and 2-yr rungs of my CD ladder with CDs from CIT Bank (at 1.30 and 1.45% APY, respectively). But I stopped there, the 3-yr rate of only 1.50% didn't seem worth it to me.

So when I saw the posts above about the 3-yr special rate from NWFCU, I hopped right on it. Your posts answered pretty much all of my questions and kept me from having to call them myself. So thankyee kindly!

I opened the account online yesterday (Friday) morning. Mid-afternoon they sent me an email informing me I had a message on the secure site. That message directed me to upload a photocopy of my driver's license (plus proof of current address if my DL address isn't up to date, but thankfully it is).

Late afternoon (pacific time) I uploaded a scan of my DL via their secure site, easy-peasy. Since by then it was after business hrs on the east coast, I don't expect to hear anything more until Monday.

There also seems to be a question of how to fund up the full $100k. You may have to visit a 'shared branch' to do this, which doesn't appear to be a big deal as they appear to pretty available nationwide. The CSR thought this to be the case, but wasn't 100% sure.

I was wondering about that too. FWIW, I was poking around the NWFCU website, and came across this:
Shared Branches
I put my zip code in the Location Wizard and it brought up a lot of credit union service centers in my area.

So I think these things are trickling through, but some are taking longer than others.

Right. And the gawdawful weather on the east coast probably isn't helping matters either.

 

[Golden sunsets]

One more quick comment. My account was in 'referred' state as of this morning so I called and after a <5 minute wait, talked to a CSR and asked them if I did everything right. I was put on hold and immediately after received an email to upload a photo of my license. So I think these things are trickling through, but some are taking longer than others.
There also seems to be a question of how to fund up the full $100k. You may have to visit a 'shared branch' to do this, which doesn't appear to be a big deal as they appear to pretty available nationwide. The CSR thought this to be the case, but wasn't 100% sure.

My status shows as referred as well. I completed the forms yesterday afternoon so perhaps it will take an extra day I will call Monday AM if the status is the same. the website shows a blinking envelope telling me that I have a message from them, but I don't see anywhere on the screen how to retrieve the message. I have received email messages through my normal email but based on the way the website shows a blinking envelope I would think that I should be able to access this on the website. Does anyone know?

 

[panhead]

My status shows as referred as well. I completed the forms yesterday afternoon so perhaps it will take an extra day I will call Monday AM if the status is the same. the website shows a blinking envelope telling me that I have a message from them, but I don't see anywhere on the screen how to retrieve the message. I have received email messages through my normal email but based on the way the website shows a blinking envelope I would think that I should be able to access this on the website. Does anyone know?

Yes. If you see the blinking envelope in the upper part of the screen, this is just showing you what the various icons mean. If you see the blinking envelope in the rectangle where it says your application is in 'referred' status (it will be on the leftmost side of this rectangle) then you have a message. You will see an envelope here, but if it's not blinking, then you don't have a message. Not the most intuitive website/application process I've been through, but I think it's worth it.

 

[Earl E Retyre]

Yes. If you see the blinking envelope in the upper part of the screen, this is just showing you what the various icons mean. If you see the blinking envelope in the rectangle where it says your application is in 'referred' status (it will be on the leftmost side of this rectangle) then you have a message. You will see an envelope here, but if it's not blinking, then you don't have a message. Not the most intuitive website/application process I've been through, but I think it's worth it.

It is interesting how we have slightly different steps. When I go online my application status says "Instant Approved". I never saw a "referred status". They never asked me to upload my driver's license.

I did receive an email that told me ... Our New Accounts Online team is currently processing your application and will follow up with you should additional information be required. New members will need to follow the steps below once your account is approved.

To complete the membership account opening process:

· You will receive your Membership Application via email from NWFCU eDocuments (dse@docusign.net) within 2 business days.
· The email will prompt you to click “review documents” and requires an access code to proceed.
· The next steps are to review and electronically sign the Membership Application. The system will prompt you where to sign and initial.

· The last step is to “confirm signing” to send the documents back to us.

Our Welcome Letter, which will include your account number, will then be uploaded to your online application.

 

[Golden sunsets]

It is interesting how we have slightly different steps. When I go online my application status says "Instant Approved". I never saw a "referred status". They never asked me to upload my driver's license.

I did receive an email that told me ... Our New Accounts Online team is currently processing your application and will follow up with you should additional information be required. New members will need to follow the steps below once your account is approved.

To complete the membership account opening process:

· You will receive your Membership Application via email from NWFCU eDocuments (dse@docusign.net) within 2 business days.
· The email will prompt you to click “review documents” and requires an access code to proceed.
· The next steps are to review and electronically sign the Membership Application. The system will prompt you where to sign and initial.

· The last step is to “confirm signing” to send the documents back to us.

Our Welcome Letter, which will include your account number, will then be uploaded to your online application.

I received this same e-mail but my application also says referred.

 

[Tom52]

O.K. I got everything filled out on the application and completed the funding, status says "Instant Approved" which I did not see above where anyone had that status immediately after completing the application Maybe I missed it.


My question is, where do you select whether you want the interest paid out monthly or let it accrue? Maybe that will be in the document you have to sign and snail mail back?

 

[Golden sunsets]

O.K. I got everything filled out on the application and completed the funding, status says "Instant Approved" which I did not see above where anyone had that status immediately after completing the application Maybe I missed it. My question is, where do you select whether you want the interest paid out monthly or let it accrue? Maybe that will be in the document you have to sign and snail mail back?

I was told by a Customer Service Rep that the interest is compounded monthly and added to your balance. I don't think there is an option to receive the interest monthly.

 

[Henry Lili]

Adrift great find

Sent from my Nexus 7 using Early Retirement Forum mobile app

 

[tcaron20]

Been following this thread on the Northwest FCU and pulled the trigger on it today with $15,000 and $85,000 to follow.
Amazing deal with a heathy CU.

Still a bit confused as to how to get the other $85,000 to them. Can I wire the balance in full to them once opened?

Thanks for the tip and responses!

Tom C


Sent from my iPad using Early Retirement Forum

 

[panhead]

OK, I got through all of this today. Account is all set up and shows that it is funded. They are indeed very busy. I called and eventually got through, and they are very helpful. Calling also seemed to significantly grease the wheels, but if you've done everything on your end, I'd say you are fine and can wait for the app to trickle through the system.
One Note: You can send them a message through their system to override the $15k limit and fund it up to and all the way to the $100k for the initial deposit.
Hope this helps, great rate in todays world!

 

[Golden sunsets]

Yes I got through today as well and whereas my application showed "referred" as soon as I got off the phone I received a call from the new accounts department verifying that I was trying to open an account because I have a fraud alert registered at the credit reporting agencies. Once I verified that I received an e-mail requesting that I upload my driver's license. I was told that they would first fund the account with $15,000 and then after that went through fund the rest.

 

[Golden sunsets]

Been following this thread on the Northwest FCU and pulled the trigger on it today with $15,000 and $85,000 to follow.
Amazing deal with a heathy CU.

Still a bit confused as to how to get the other $85,000 to them. Can I wire the balance in full to them once opened?

Thanks for the tip and responses!

Tom C


Sent from my iPad using Early Retirement Forum

Send an e-mail to the new accounts department on the page reflecting your status if you haven't already included that fact in the message portion of the application.

 

[karen1972]

Side Note: Almost all CU have some type of donation membership that can get you in, you just need to ask (usually $10-20 token membership to a charity).. at least that's what I've found and I've investigated at least a dozen.

Also the shared branches as usually part of the credit union groups, there are a few that don't play nice, but most of them are awesome and treat you like members even though your not. So as long as you have a shared branch in your area, I wouldn't fret about it. I'm in NC, have my CU in Illinois and have no issues banking, plus most of the CUs have better online banking/mobile apps than even the regular banks.

 

[jazz4cash]

Looks like this CD rate offer is no longer available.

 

[audreyh1]

Looks like this CD rate offer is no longer available.

I think it expired on 10/9 or thereabouts.

 

[Done]

My question is, where do you select whether you want the interest paid out monthly or let it accrue? Maybe that will be in the document you have to sign and snail mail back?

I was told by a Customer Service Rep that the interest is compounded monthly and added to your balance. I don't think there is an option to receive the interest monthly.

For those who got in on the NWFCU deal, I can confirm that there IS an option to have interest deposited to your savings account instead of compounding in the CD. You have to call or send a secure message (Services / View Messages - Inbox / Compose New) to request this. Here was their reply:

"Thank you for contacting the Credit Union about your new Dream Certificate. The Certificate is now set up so that the Dividends will be deposited to the Primary Savings account and not compound in the Certificate."