I have some 5 year CD's with my credit union (LMCU) that I opened before the rates started creeping up.They have about 2 1/2 years left, only paying 2.05%
Has anyone ever gotten a bank or CU to wave the EWP and switch the funds to a higher paying CD with a similar term thats left on the original CD? (for example, if there were 24 months left on the original CD, the funds would be put in a new 24 month CD at the higher current rate)
My leverage would be that if I have to pay the penalty's, I will move all my funds out of their CU (currently have around 250K there) and put the funds in my Fido account, and invest from there.
If they wave the EWP's, I would keep the funds there in a new CD.
Has anybody tried this with any success?
Has anyone ever gotten a bank or CU to wave the EWP and switch the funds to a higher paying CD with a similar term thats left on the original CD? (for example, if there were 24 months left on the original CD, the funds would be put in a new 24 month CD at the higher current rate)
My leverage would be that if I have to pay the penalty's, I will move all my funds out of their CU (currently have around 250K there) and put the funds in my Fido account, and invest from there.
If they wave the EWP's, I would keep the funds there in a new CD.
Has anybody tried this with any success?