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Old 01-03-2024, 06:59 PM   #21
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Originally Posted by JohnnyBGoode View Post
I have several CD's maturing mid-February at Ally and I'm hoping the higher rates will stay up for a bit longer.

I did notice Ally is promoting a 14 month CD at 5.25% and it says the promotional rate is valid until 3/20/24. So we'll see...

https://www.ally.com/go/bank/14m-select-cd/
Same here.
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Old 01-03-2024, 07:17 PM   #22
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They say the rate could change at any time. The promotional CD is available until 3/20. That doesn’t mean the rate is.
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Old 01-03-2024, 08:56 PM   #23
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They say the rate could change at any time. The promotional CD is available until 3/20. That doesn’t mean the rate is.
Exactly. My Capital One CD just did that. Rate dropped before I was able to renewal my account even though it was a "special" rate for current CD customers.

We've all been here for a year or so watching these rates slowly march upward. Unfortunately the downward trend will much quicker. No surprise to any of us I'm sure.
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Old 01-04-2024, 07:55 AM   #24
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Hi, again!

Set up EFT at Fidelity and transferred some funds to NASAFCU - can "see" the funds online with NASAFCU.

What I can't see is a way to move those funds into CDs ... am I missing something? Please don't tell me I have to call them to do this? Aack ...
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Old 01-04-2024, 08:03 AM   #25
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Have you looked at an option “add a new account”? At banks and FCUs CDs are separate accounts.

I don’t have NASAFCU but I have other FCUs.
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Old 01-04-2024, 08:10 AM   #26
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Got it, thanks ... an additional selection was needed ... not quite as intuitive as I expected. I bought the 5.7% 9 month.
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Old 01-04-2024, 08:12 AM   #27
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Hi, again!

Set up EFT at Fidelity and transferred some funds to NASAFCU - can "see" the funds online with NASAFCU.

What I can't see is a way to move those funds into CDs ... am I missing something? Please don't tell me I have to call them to do this? Aack ...
When I transferred my IRA funds the paperwork included instructions on what CD's I wanted to open. I have not had after tax funds there in a long time though. Just call them, I called yesterday and she set up a new HSA CD for me in less than 5 minutes and e-mailed over a receipt.
Easy peasy.
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Old 01-04-2024, 09:16 AM   #28
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The past few CD’s that matured have been lower rate ones from my early ladder building.

Today, for the first time since this dip in rates started, I purchased a replacement CD that was yielding less than the one that recently matured.

Note. I am not counting an agency bond that was called since it did not mature.
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Old 01-05-2024, 01:16 PM   #29
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I just purchased two CDs. One was a 5.5% 15 month Synchrony Bank CD and the other was a Vanguard brokered secondary market 5.5 year CD at 4.44%.
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Old 01-05-2024, 07:36 PM   #30
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4.44% for 5 yrs sounds pretty good. What is the call provision?
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Old 01-06-2024, 05:04 AM   #31
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US Senate FCU

36 month
$200,000 Plus Jumbo 5.34% 5.20%
$100,000 -$199,999 5.28% 5.15%
less than $99,999 5.23% 5.10%

180 day penalty for early withdrawal.
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Old 01-06-2024, 06:57 AM   #32
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4.44% for 5 yrs sounds pretty good. What is the call provision?
Up until recently, I have only been buying new and noncallable CDs mostly at 5 years. However, in my IRA accounts in Vanguard and Fidelity today the best rate I could find for new/noncallable 5 year CDs is 3.9%.

So, I decided to look into secondary market callable CDs that have a yield to maturity at 4.4% or above and a coupon at 3.25% or below. The logic being that they would be unlikely to be called with a lower coupon. So, while they are immediately callable, I am assuming they will not be unless and until rates fall below 3.25%. If they do get called, it is a low percentage of my fixed income and I still get the 4.4% return.

I wound up buying 2 CDs this week:
(1) Wells Fargo CD 3% coupon with a YTM 4.44 (matures 6/26/2029)
(2) JP Morgan CD 3.25% coupon with a YTM 4.468 (matures 10/29/2030)

In my non-IRA accounts, I am buying shorter term noncallable CDs at above 5% at banks that I already have accounts with. This week, I bought a couple of the 15 month Synchrony Bank 5.5% CDs.
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Old 01-06-2024, 08:35 AM   #33
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Thanks. I like the low coupon high discount strategy.
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Old 01-06-2024, 09:51 AM   #34
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A similar strategy is useful with callable agency bonds.

One thing that I learned recently is to look at the details on corporate callables, especially for non-financial institutions... while the header migh say they are callable in a lot of instances the first call is just a few months before maturity so it isn't a big deal... for me it is effectively non-callable if a Dec 2028 maturity is callable in Jul 2028.
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Old 01-06-2024, 10:49 AM   #35
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Originally Posted by Earl E Retyre View Post
In my non-IRA accounts, I am buying shorter term noncallable CDs at above 5% at banks that I already have accounts with. This week, I bought a couple of the 15 month Synchrony Bank 5.5% CDs.
That's a good rate but I don't like having lots of accounts. Is Synchrony one worth having? IOW do they often have good rates?
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Old 01-06-2024, 12:23 PM   #36
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That's a good rate but I don't like having lots of accounts. Is Synchrony one worth having? IOW do they often have good rates?
Of the three online banks plus 1 FCU I have, Synchrony almost always has the best rates and raises them more aggressively.
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Old 01-09-2024, 07:58 AM   #37
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My CDs at Penfed just matured yesterday. I kept the money there, got some 5 year at 4.0 % and some 15 month at 5.0 %. Thought about opening a NASA account, for the higher rates, but I just have too may places already, lol.
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Old 01-09-2024, 03:00 PM   #38
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I brought this up once before about the very good rates at United States Senate credit union but got no reaction so I'll do it one more time. I joined over 5 years ago so I don't remember how I joined but I believe it was pretty easy. They have better rates the ones that have been quoted for 3-5 years. The rates change at the beginning of the month.
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Old 01-09-2024, 04:06 PM   #39
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Does USSFCU still let you fund with credit card? They didn't like my ChexSystems report the last time I tried to apply to their CU.
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Old 01-09-2024, 04:10 PM   #40
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I brought this up once before about the very good rates at United States Senate credit union but got no reaction so I'll do it one more time. I joined over 5 years ago so I don't remember how I joined but I believe it was pretty easy. They have better rates the ones that have been quoted for 3-5 years. The rates change at the beginning of the month.
To join you need to join the AMERICAN CONSUMER COUNCIL which is easy.
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