New Higher CD Rates at Navy FCU

[OAG]

3% Plus for LT CD's went up this morning (1/20/2014). Navy FCU follows the lead of Pentagon FCU.

 

[REWahoo]

Here is a chart of Navy's rates. You'll need to commit to 7 years to get 3%.

 

[JerryinPA]

Can anyone join?

If a person is not a member of the Navy/Navy community, etc..., are there alternative ways to join like PenFed?

 

[REWahoo]

If a person is not a member of the Navy/Navy community, etc..., are there alternative ways to join like PenFed?

No. Here are the eligibility requirements: https://www.navyfederal.org/about/eligibility-checklist.php

 

[brewer12345]

What are the early withdrawal penalties?

 

[jazz4cash]

What are the early withdrawal penalties?

Looked all over the website and could not find this info but I have a disclosure from 2012 and it states the lessor of:

• All dividends for 365 days on the amount withdrawn; or
• All dividends on the amount withdrawn since date of issuance or renewal

This is for IRA certificates with maturities greater than 5 yrs, but I would expect it to be the same for non-IRA.

 

[Ready]

I hope this is a sign of rates rising on CDs at other banks and credit unions as well. I have a bunch of CDs currently earning a bit more than 3% for the next 9 to 18 months. I considered cashing them in early so that I can reinvest them at the Penfed 3% rate, but ultimately decided to roll the dice and hope that rates are at least 3% in 9-18 months, or hopefully a bit higher.

If not, maybe bonds will be more attractive looking at that time as well. One can only hope.

 

[Midpack]

I hope this is a sign of rates rising on CDs at other banks and credit unions as well. I have a bunch of CDs currently earning a bit more than 3% for the next 9 to 18 months. I considered cashing them in early so that I can reinvest them at the Penfed 3% rate, but ultimately decided to roll the dice and hope that rates are at least 3% in 9-18 months, or hopefully a bit higher.

If not, maybe bonds will be more attractive looking at that time as well. One can only hope.

Me too. Vanguard, Ally? But it doesn't look likely at all...