6.11% apy 5 year CD but is it worth it?

[MJ]

One of the blogs I receive that track CD bargains alerted me about a NY CU which I once was a member, Polish and Slavic Federal Credit Union offering 6.11% apy for over $90k 5 year CD. I was about to mail the forms when I decided to check their rating. According to Bankrate, their performance is well below CU averages.

Even though they are NCUA insured, it is worth getting 50 to 60 basis points in a weak financial institution.

POLISH & SLAVIC
FAIRFIELD, New Jersey

Bankrate.com Star Rating: ««
Safe & Sound CAEL Rating: 4

Bankrate.com's Safe & Sound (tm) Bank, Thrift and Credit Unions rating feature


MJ

 

[tjon72]

I'll be taking a secret vote on this one. Will get right back to you with the results !

 

[MJ]

I'll be taking a secret vote on this one. Will get right back to you with the results !

Darn

Will you at least PM me with the secret results.

 

[Achiever51]

Nie dzięki

That's "No Thanks" in Polish!

 

[wcv56]

GED is at a discount now but not a CD. As rates go lower price
will get closer to the $25 orignal price.

 

[brewer12345]

I just looked at their latest financials (June 30) and I don't see any obvious problems. They don't make a ton of money, but they have plenty of capital and asset quality appears to be good.

Looks OK to me. Just keep it under the insured amount.

 

[tryan]

Forgetting who has your $$ ... would you tie it up for 5 years. Seems like a long time.