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01-22-2022, 11:32 PM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,134
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0.3%. I think I would remember that interest rate for a long time and it would make me wonder if I wanted to do any business with that CU at all. Aren't credit unions supposed to be there for the good of the members? How is 0.3% for 7 years any good for savers in this inflationary environment? One year of inflation would wipe out 7 years of 0.3% interest compounded in real terms. And then taxes.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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02-02-2022, 09:17 AM
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#42
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Full time employment: Posting here.
Join Date: Sep 2010
Location: Orlando, Fl
Posts: 950
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Discover online saving just increased their interest percentage from 0.4% to 0.5%.
(Quiet, polite, "golf clap" heard among the masses.)
__________________
"Some people describe themselves as being able to see things as a glass half full. For some, the glass is half empty. Me? I can't even find the f***king glass."
Silver
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02-02-2022, 10:52 AM
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#43
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,599
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I would offer a different view.
In this inflationary environment how do we encourage savers Not to lend us money for 7 years? Lower the rate so we aren't paying out higher interest than we can earn through the Fed. That's one view.
----------------- or ------------------
For the good of the members doesn't mean you pay members more than you can afford. Rates this low means they are dealing with significant loan losses, or inability to make loans to qualified borrowers. CUs make loans to provide above market (hopefully) interest on savings to members. If they don't have a broad enough book of loans the Feds will caution them to lower their interest rates paid on savings.
__________________
Only got A dimple, would have preferred 2!
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02-03-2022, 12:53 PM
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#44
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,046
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PenFed just sent me "through the roof" (haha) certificate rates:
1% 15 months
1.15% 18 months
1.25% 2 years
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02-03-2022, 02:30 PM
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#45
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Quote:
Originally Posted by Chuckanut
Aren't credit unions supposed to be there for the good of the members? How is 0.3% for 7 years any good for savers in this inflationary environment?
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Well, my CU would brag that “our rates are 10X compared to the big banks”… and it’s true. B of A is at 0.03% for 7 yrs for $10k.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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02-03-2022, 03:27 PM
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#46
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
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Quote:
Originally Posted by Silver
Discover online saving just increased their interest percentage from 0.4% to 0.5%.
(Quiet, polite, "golf clap" heard among the masses.)
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So now they are equal to Ally.
__________________
TGIM
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02-05-2022, 08:51 PM
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#47
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Recycles dryer sheets
Join Date: May 2015
Location: NorCal
Posts: 329
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Poppy Bank
- 6 month CD 0.4%
- 9 month CD 0.75%
- 12 month CD 1.0%
https://www.poppy.bank/personal
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02-15-2022, 07:28 PM
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#48
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Confused about dryer sheets
Join Date: Mar 2021
Location: Houston
Posts: 9
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Hi All,
The Marcus by Goldman Sachs $100 bonus for $10k deposit ends tomorrow.
With AARP the account yields 0.60%.
[mod edit]
Cheers,
Timo
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02-16-2022, 06:46 AM
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#49
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Fidelity has 5 yr brokered CD from Sallie Mae bank @ 2.2%. I think that’s better than anything in depositaccounts.com
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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02-16-2022, 07:30 AM
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#50
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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^^^ and the 3-year CD is 1.9%
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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02-16-2022, 07:48 AM
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#51
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,515
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Yes. And both are half the TMobile Money rate.
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02-18-2022, 09:51 AM
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#52
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,669
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Here are current PENFED CD rates.
TERM | APY* | 6 Month | 0.45%** | 12 Month | 0.85% | 15 Month | 1.00% | 18 Month | 1.15% | 2 Year | 1.25% | 3 Year | 1.00% | 4 Year | 0.95% | 5 Year | 1.30% | 7 Year | 1.50% |
For argument's sake, if high yield savings rate is .50%, then it makes little sense to invest in any CDs like this, whoever is offering them.
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02-18-2022, 01:55 PM
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#53
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Quote:
Originally Posted by target2019
Here are current PENFED CD rates.
TERMAPY* | 6 Month0.45%** | 12 Month0.85% | 15 Month1.00% | 18 Month1.15% | 2 Year1.25% | 3 Year1.00% | 4 Year0.95% | 5 Year1.30% | 7 Year1.50% |
For argument's sake, if high yield savings rate is .50%, then it makes little sense to invest in any CDs like this, whoever is offering them.
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I guess I’d rather earn .85-1.25 on funds not needed for the corresponding terms. I’d use the Hi yield savings as well to meet immediate and emergency needs. I expect rates will be headed up so I wouldn’t go out very far.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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02-18-2022, 05:19 PM
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#54
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,515
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Quote:
Originally Posted by target2019
Here are current PENFED CD rates.
TERM | APY* | 6 Month | 0.45%** | 12 Month | 0.85% | 15 Month | 1.00% | 18 Month | 1.15% | 2 Year | 1.25% | 3 Year | 1.00% | 4 Year | 0.95% | 5 Year | 1.30% | 7 Year | 1.50% |
For argument's sake, if high yield savings rate is .50%, then it makes little sense to invest in any CDs like this, whoever is offering them.
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The 2 year T-bill is at 1.45%. That seems a lot more interesting than these rates.
But I plan to sit tight with more rate hikes teed up.
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02-18-2022, 09:06 PM
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#55
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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Yes, the T-bills are just about to look interesting again. It might be like last go around when T-bills were ahead of bank CDs for quite a while.
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Retired since summer 1999.
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02-19-2022, 05:32 AM
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#56
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,669
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High-interest savings vs. 1 year CD.
Amount | 0.50% hi-int | 0.85% 1-YR CD | add'l $$$ | 10,000 | $50 | $85 | $35 | 50,000 | $250 | $425 | $175 | 100,000 | $500 | $850 | $350 |
I'll play some other game this year.
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02-19-2022, 05:43 AM
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#57
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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Quote:
Originally Posted by target2019
High-interest savings vs. 1 year CD.
Amount | 0.50% hi-int | 0.85% 1-YR CD | add'l $$$ | 10,000 | $50 | $85 | $35 | 50,000 | $250 | $425 | $175 | 100,000 | $500 | $850 | $350 |
I'll play some other game this year.
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1 year UST is 1.15%, so better than 0.85% for a 1-year brokered CD... same credit and interest rate risk... so a $65 advantage over the online savings account on $10,000.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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02-19-2022, 09:16 AM
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#58
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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I guess this thread will stay a bit more active with rates on the rise. MYGA rates too. The 5 yr A rated Americo MYGA just increased from 2.7 to 3.05. 5 yrs might be too long to lock in a large sum, though.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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02-19-2022, 12:26 PM
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#59
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,515
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Quote:
Originally Posted by pb4uski
1 year UST is 1.15%, so better than 0.85% for a 1-year brokered CD... same credit and interest rate risk... so a $65 advantage over the online savings account on $10,000.
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Stick with 1.00.% savings account. no interest rate risk or.credit risk.
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02-19-2022, 09:04 PM
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#60
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Quote:
Originally Posted by pb4uski
1 year UST is 1.15%, so better than 0.85% for a 1-year brokered CD... same credit and interest rate risk... so a $65 advantage over the online savings account on $10,000.
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I like that suggestion. Where are you buying these? I'm surprised to see very high minimums on 1yr UST's at Fidelity. 1yr really is a sweet spot vs. CD's
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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