High rate CD's from Milennium...?

[pbrane]

Hi

I was wondering if the financial masterminds on this board have any experience or opinions regarding the Premium CD's from Milennium Bank? Too risky?

http://www.mlnbank.com/Services/prem...FSeMgAodeBXOvw

Thanks!

[retire@40]

One important thing missing on their website is "FDIC Insured."

There have been other threads on this bank. Do a search and you will find some good answers.

[d]

hold on to your wallet!

[uncledrz]

Not a US bank. Not FDIC. Not enough information available to give an opinion as to whether its safe or not.

IMHO CD's are a valid place to put short term funds. But I would stick with US banks (or the US branches of non US banks -- like HSBC for example) and make sure there is FDIC coverage. Another thought is to look at local credit unions (or Pen Fed, for example, if you qualify) which are insured by NCUA and often have good rates.

[d]

Quote:

Not enough information available to give an opinion as to whether its safe or not.

... when there is insufficient info given, that is usally sufficient info to conclude that it is not safe ...

[DRiP Guy]

No interest here.