Digital Federal Credit Union 6% CD

[Non sequitur]

Is anyone familiar with this credit union? I’d like to know about any good or bad experiences with them. They are currently offering 16 month CDs at 6%.

[kaudrey]

No, sorry. But if you are just going to open a CD with them, how much customer service do you really need? As long as it's easy to open an account, I wouldn't worry too much about it. (Stay under the insurance limit, though, of course).

[HFWR]

You might send a PM to TH CFB This Space for Rent; I believe he used them in the past, and might still...

[bamsphd]

DCU is my "bank." I use them for checking, money market, a credit card,
and they have an ATM in my office building. I have never purchased a CD
from them (or from anyone else), since I prefer Treasuries to avoid
state taxes, and for their greater liquidity.

My main gripe with DCU is that they generally want you to have your
paycheck or social security direct deposited to your "free" checking
account ("free" means they don't pay interest, but also don't generally
charge any fees) to get the best deals. For example, with direct deposit
you get "free" checks, as long as you take their carbon-copy style checks
(which I dislike). They usually offer better CD interest rates with direct deposit
to your "free" checking account, though it looks like they are not requiring
that for this 6% deal.

A few years back they had a bug in an advertising popup on their website
which instead of bothering me once per month as their customer service
claimed was intended, bothered me every time I used their website.
For a "Credit Union" they are very commercially oriented, spending a fair
amount on advertising.

If you download things into Quicken/Money/etc you will find that you can
login to their website and manually download one account at a time using
"Open Financial Exchange" (OFX)
"Quicken Financial Exchange" (QFX)
"Quickbooks" (QBO)
or
"Spreadsheet" (Comma Separated Values)
However, they do NOT support Quicken's "One Step Update" so you will
need to manually login to the dcu.org website.

Bottom line, most of the people in my office use them. They are OK, but
certainly not thrilling.

I hope that helps.

[lswswein]

Quote:

Originally Posted by bamsphd DCU is my "bank." I use them for checking, money market, a credit card, and they have an ATM in my office building. I have never purchased a CD from them (or from anyone else), since I prefer Treasuries to avoid state taxes, and for their greater liquidity.

DCU is my main bank too and I have everything that bamsphd mentioned above - So which old Digital building do you work in?

Anyway coming to their CD's I have one expiring in DEC'06 - it was a 16month at 5% which I think halfway into it got beat by the Vang MM. You pay a 3month penalty so I didn't withdraw it and it worked out well. This time I am not renewing for the 6% because I decided to move it to Vang.

As a bank they are good and they generally don;t have any "surprising charges". They have been on a membership drive recently

[macdaddy]

Whats the minimum amount you have to put in to get 6%?

[retire@40]

Quote:

Originally Posted by macdaddy Whats the minimum amount you have to put in to get 6%?

$500

[bamsphd]

Quote:

Originally Posted by lswswein - So which old Digital building do you work in?

Oracle's building next to the Nashua, NH exit 1 former Digital facility.

I'm neither recommending, nor warning against the DCU CD special offer.
However, for those interested in the details go to
https://www.dcu.org/prodserv/r_specials.html
If that link does not work, go to https://www.dcu.org
click "rates" on the grey navigation bar, then "Special Offers"

Note, I believe you will have to "join" the credit union, though I think if you
do not otherwise qualify, you can join by making a one-time contribution
to certain charities. See https://www.dcu.org for details.

P.S.
If you know someone who is already a DCU member, they can get
$20 if you bring in a "DCU Referral Coupon"
https://www.dcu.org/whatsnew/1106_refer.pdf
when you "join."

[lswswein]

If any one wants referrals let me know - I will do it and donate the monies to dory!

-h