Pen Fed rate special!

brewer12345 · 12-29-2005, 09:48 AM

Looks like Pen Fed is at it again. What is it with them and the early part of the year? 5.75% on 5 year CDs at www.penfed.org

P.S. · 12-29-2005, 11:09 AM

Thanks Brewer!

retire@40 · 12-29-2005, 11:51 AM

Quote:

Originally Posted by brewer12345

5.75% on 5 year CDs at www.penfed.org

And the 7-year CD is 6%. I wish they had a 10 year CD at 7%.

brewer12345 · 12-29-2005, 11:59 AM

Quote:

Originally Posted by retire@40

And the 7-year CD is 6%.* I wish they had a 10 year CD at 7%.

Only downside to the 7 year CD is that they hit you with a 1 year of interest early withdrawal penalty vs. 6 months for most of the other maturities. Still, its hard to find a high quality bond of 7 year maturity yielding 6%.

Dawg54 · 12-29-2005, 04:59 PM

Quote:

Originally Posted by brewer12345

Looks like Pen Fed is at it again.* What is it with them and the early part of the year?* 5.75% on 5 year CDs at www.penfed.org

Can anyone invest through Pen Fed?

brewer12345 · 12-29-2005, 05:16 PM

Yes, but you must become a member. If you don't qualify by other means (certain affiliations, military service, etc.), you can join by joining the National Military Family Assn for like $20. No need to renew the NMFA membership once you are a Pen Fed member.

REWahoo · 12-29-2005, 05:19 PM

Dog, click on the "How to Join" link on the Penfed website and it will walk you through how you can become a member of the CU. As brewer says, even if you don't qualify any other way, you can join the NMFA.

Dawg54 · 12-29-2005, 07:51 PM

Thanks Brewer & Rewahoo. I have some bonus money coming in during March so I will probably put some money there. Might as well use them for my cd portion of my portfolio. Who knows, maybe they will bump it up a little more by then.*

kowski · 12-29-2005, 09:40 PM

When I go the the www.pen.org site I can not find the CD rates? What do you pick on to see the current rates?

REWahoo · 12-29-2005, 09:47 PM

Quote:

Originally Posted by kowski

When I go the the www.pen.org site I can not find the CD rates? What do you pick on to see the current rates?

Wrong website. It's www.penfed.org

MJ · 12-29-2005, 10:02 PM

Quote:

Originally Posted by brewer12345

Only downside to the 7 year CD is that they hit you with a 1 year of interest early withdrawal penalty vs. 6 months for most of the other maturities. Still, its hard to find a high quality bond of 7 year maturity yielding 6%.

The exception which I will take advantage of, is to get IRA CDs. At PFCU, you can with close IRA CDs early without a penalty after 59 1/2. An 18 month 6% CD isn't too bad now a days.

It's so nice to be a senior.

REWahoo · 12-30-2005, 08:06 AM

Penfed placed a full-page ad in today's San Antonio paper touting their new CD rates. Bet there is a line out the door of the one branch in town!

brewer12345 · 12-30-2005, 09:07 AM

Quote:

Originally Posted by REWahoo!

Penfed placed a full-page ad in today's San Antonio paper touting their new CD rates.* Bet there is a line out the door of the one branch in town!

Wow, I didn't even know they had a branch there. The recent increases in savings and CD rates over and above that of the Fed rate increases suggests that many banks and CUs are outrunning their natural deposit bases and having to pay up to get more.

12-29-2005, 09:48 AM	#1
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,226	Pen Fed rate special! Looks like Pen Fed is at it again. What is it with them and the early part of the year? 5.75% on 5 year CDs at www.penfed.org __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

12-29-2005, 11:09 AM	#2
P.S. Recycles dryer sheets Join Date: Jan 2005 Posts: 306	Re: Pen Fed rate special! Thanks Brewer!

12-29-2005, 05:16 PM	#6
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,226	Re: Pen Fed rate special! Yes, but you must become a member. If you don't qualify by other means (certain affiliations, military service, etc.), you can join by joining the National Military Family Assn for like $20. No need to renew the NMFA membership once you are a Pen Fed member. __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

12-29-2005, 05:19 PM	#7
REWahoo Moderator Emeritus Join Date: Jun 2002 Location: Texas Hill Country Posts: 11,518	Re: Pen Fed rate special! Dog, click on the "How to Join" link on the Penfed website and it will walk you through how you can become a member of the CU. As brewer says, even if you don't qualify any other way, you can join the NMFA. __________________ [MODERATOR EDIT]

12-29-2005, 07:51 PM	#8
Dawg54 Thinks s/he gets paid by the post Join Date: Feb 2005 Location: Mississippi Posts: 3,190	Re: Pen Fed rate special! Thanks Brewer & Rewahoo. I have some bonus money coming in during March so I will probably put some money there. Might as well use them for my cd portion of my portfolio. Who knows, maybe they will bump it up a little more by then.* __________________ The born loser.

12-29-2005, 09:40 PM	#9
kowski Recycles dryer sheets Join Date: Aug 2005 Posts: 86	Re: Pen Fed rate special! When I go the the www.pen.org site I can not find the CD rates? What do you pick on to see the current rates? __________________ If you think nobody cares whether you're alive or dead, try missing a couple of mortgage payments.

12-30-2005, 08:06 AM	#12
REWahoo Moderator Emeritus Join Date: Jun 2002 Location: Texas Hill Country Posts: 11,518	Re: Pen Fed rate special! Penfed placed a full-page ad in today's San Antonio paper touting their new CD rates. Bet there is a line out the door of the one branch in town! __________________ [MODERATOR EDIT]

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