jimnjana
Thinks s/he gets paid by the post
PENFED FCU is now offering 1.5 percent 2 yr certificates and 1.75 percent 3 year certificates. Who would have thought that these rates would look attractive a few years ago.
PENFED FCU is now offering 1.5 percent 2 yr certificates and 1.75 percent 3 year certificates. Who would have thought that these rates would look attractive a few years ago.
They're a perennial favorite with this board's posters. Anyone can join PenFed.I've considered laddering these for the cash portion of our AA. Does anyone have any experience with them?
Penfed CDs (thanks to this board's recommendations) saved my butt during the Great Recession--I went to 20% stocks in early 2007 and put the rest of my taxable money in Penfed 7-year CDs paying 6.25%. It sure is going to be a shock in 2014 when the CDs mature and I'll have to reinvest in a low-rate environment, but I guess the bright side is that I won't have to pay as much in yearly tax on all the CD income.
The other good thing about Penfed is that you can funnel CD income into their money market fund and instantly transfer it to pay off a Penfed credit card (5% on gas, 3% on groceries, 1% on everything else, points redeemed as VISA debit card or Amazon gift card).
I am still crying over a 5% CD I saw in late 07 but did not buy. I thought at the time 5% was not high enought to lock in for seven years. Where is that time machine?