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Old 12-10-2020, 05:38 PM   #921
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Just got it myself.
The race to the bottom continues.
Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
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Old 12-10-2020, 10:30 PM   #922
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Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
I wish rates were higher, but the war on savers is rewarding equity holders generously. Given the choice, I will take the war on savers.

But that is just me.

Now, back to complaining about these paltry rates. I'm so glad I got those 72 month CDs from Signal Financial FCU at 3.35 pct last year. It was very hard to commit to that timing but as I said it has 50 pct penalty free withdrawal and other rate protections. Now I wish I had done more but it is about a third of my CD portfolio that I do not have to think about.

About a third has matured this month and the other third matures next year. I don't think these current rates are attractive enough to lockdown money, even money I don't need.

I'll put some in my fave MM and the balance in bond or alternative funds per what I identified above or possibly others I may find.
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Old 12-11-2020, 03:42 AM   #923
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So, maybe we'll have more head-room to do Roth conversions in 2021. Just looking for the bright side.
Yeah, my interest income is going to be WAY lower!

One of my bond funds just paid out a huge short-term cap gain distribution. Ouch! At least I donít expect a repeat next year.
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Old 12-11-2020, 03:44 AM   #924
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I just noticed that too. The Ally web page says "promotional term available through 2/10/21". By the time my CD matures in February, it will probably be down even further, and not worth the bother.
But itís all relative. Other options may well be down the same amount.
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Old 12-11-2020, 07:08 AM   #925
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Funny how that works. I feel like a champ now because I loaded up on CDs in Jan, and a few more good specials early Feb. But they are all maturing in 2021!
Ditto
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Old 12-11-2020, 07:12 AM   #926
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I also have the GTE add on.
Would either one of you be willing to go over the NCUA limit on these CD's?
I keep thinking about it, but for now will not do it.
No, I don't plan on it, but the CD is in a joint account, so we have quite a bit of room left before facing that decision. Our Maturing CD's are in either 50K or 100K amounts.
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Old 12-11-2020, 07:29 AM   #927
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Honestly, this thread is more depressing than many of our Covid conversations....
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Old 12-11-2020, 10:10 AM   #928
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I also have the GTE add on.
Would either one of you be willing to go over the NCUA limit on these CD's?
I keep thinking about it, but for now will not do it.
I am but in a small way. I originally deposited $215k since that would grow to $250k at 3% over 5 years... then about 6 months later got greedy and added $35k... so I do have some interest in excess of the $250k I deposited that is technically at risk. If I get nervous about them I'll just withdraw the interest.
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Old 12-12-2020, 05:18 PM   #929
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Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.
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Old 12-12-2020, 05:26 PM   #930
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I am but in a small way. I originally deposited $215k since that would grow to $250k at 3% over 5 years... then about 6 months later got greedy and added $35k... so I do have some interest in excess of the $250k I deposited that is technically at risk. If I get nervous about them I'll just withdraw the interest.
Kind of considering the same.
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Old 12-12-2020, 07:23 PM   #931
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Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.


Never heard of this before. Looked it up. Not really impressed. Kinda VCish but it it is FDIC. $50k? I donít see that. Is it some special program? Hereís what I see

Bonus on Deposits
2.15% on balances up to $5,000
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Old 12-12-2020, 07:38 PM   #932
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I seem to remember a similar dodgy deal in the last 6 months or so... where the onjuno-like party held the deposits as liabilities to depositors and the onjuno-like party's assets were FDIC insured bank accounts... but the depositor's deposits were not really FDIC insured... but the onjuno-like party represented that the depositor's funds were FDIC insured, but because they were not a bank they really were not.

If it seems too good to be true....

Try it for a year with your money first and let me know how it goes.
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Old 12-12-2020, 07:43 PM   #933
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Never heard of this before. Looked it up. Not really impressed. Kinda VCish but it it is FDIC. $50k? I donít see that. Is it some special program? Hereís what I see

Bonus on Deposits
2.15% on balances up to $5,000
It's actually 2.15 up to $30K, but $10/month fee, "metal" plan.
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Old 12-12-2020, 08:25 PM   #934
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Ok but what are they, really? It says they are not a bank. Their FDIC is through a partner affiliate. I donít see any savings acct or loan portal. I canít tell how they make money so Iíll pass but Iím interested in any first hand experience.
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Old 12-12-2020, 09:10 PM   #935
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If they aren't a bank then I don't see how my deposits can be FDIC insured.

Perhaps their deposits can but I don't care about their deposits being FDIC insured, I'm interested in my deposits being FDIC insured. I'll pass too unless they are transparent about the answer.
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Old 12-13-2020, 12:04 PM   #936
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The FDIC is through an entity called Evolve Bank. I believe there was some other fin tech that ran into trouble recently claiming to have 3rd party FDIC affiliation.
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Old 12-13-2020, 03:16 PM   #937
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Yes, see post #932... I just can't recall the name but it was a similar scam.
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Old 12-13-2020, 04:58 PM   #938
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Yes, see post #932... I just can't recall the name but it was a similar scam.
Was it Robinhood?
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Old 12-13-2020, 05:04 PM   #939
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No, it wasn't Robinhood.
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Old 12-13-2020, 05:23 PM   #940
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It wasnít Robinhood but they had their own similar problems and bad behavior. These fin tech companies are way riskier than they appear IMO.
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