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10-05-2007, 12:06 PM
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#1
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Recycles dryer sheets
Join Date: Jul 2005
Posts: 216
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Millineum Bank ???
I was looking for CD rates ( for my trust fund) and found the Millineum Bank online with an 8% interest rate. It seems it's a Swiss company...anyone heard of them ? I spoke with someone at PenFed on the phone but was told I could not just get a Money Market Certificate for my trust fund without have a share account also. All I wanted was the certificate.Has anyone else run into this ?
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10-05-2007, 12:10 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Run from Millenium "Bank." You'd be better off with junk bonds.
[Yes, you have to open a share account with Pen Fed. So put $5 into it and get on with life.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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10-05-2007, 12:16 PM
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#3
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Recycles dryer sheets
Join Date: Jul 2005
Posts: 216
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I had already figured the place was no good Do you consider Pen Fed the best place for CD's ?
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10-05-2007, 12:27 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Dancer373
I had already figured the place was no good Do you consider Pen Fed the best place for CD's ?
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Certainly the highest rate available. I have CDs there. Based on what I saw in their latest financial statements, I think they are pretty solid.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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10-05-2007, 02:06 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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PENFED IMO is very good. Best rates I can find for NCUA insured money. They are the 2d largest CU in USA -- right behind Navy Federal Credit Union which is #1.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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10-06-2007, 09:35 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: St. Louis
Posts: 2,179
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Quote:
Originally Posted by Dancer373
I had already figured the place was no good Do you consider Pen Fed the best place for CD's ?
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As with any place that offers CDs - their rates vary, according to their internal cash flow/funds needs. One month they might pay substantially better than others; in other months, they might pay 1/4%-1/2% less (I think before they raised to their current 6% APY, they were paying only 5% APY!).
So just be prepared to hurry up and lock in a rate if you're going to, and be prepared to go elsewhere if they change their rates.
Some other sources for good rates:
FISN - Certificate of Deposit Service - CD Rates
(FISN is a CD broker. They offer a variety of CDs, from regular fixed term/rate to callable CDs, to CDs with step rates, etc.)
Highest rates and yields on bank certificates of deposit (CDs) updated daily by money-rates.com.
CD Thread, Post The Best Rates You Can Find Here!
Best current APY/APRs: The Daughter of The Mother - Checking, Saving, and Money Market: All Liquid Accnt Interest Rates!
Bank Deals - Best Rates and Deals
__________________
Dryer sheets Schmyer sheets
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10-07-2007, 09:42 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: No. California
Posts: 1,858
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Thanks for all the links, MooreBonds.
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