Key Direct

[DallasGuy]

Does anyone invest any of their money in CD's at KeyDirect (Welcome to KeyDirect - Always Great Rates). Right now they have 7 yr cd's at 5.5% and 10 yr at 5.7%. I have a couple of CD's there already and was thinking of buying another CD which would put me over the $100,000 FDIC limit. Is this a fairly safe bank to buy CD's at? I think it's part of the Key Bank (www.keybank.com).

[yakers]

I like Key Bank and have stock in the bank. Did well for quite a while but not recently as with most banks. I continue to hold the stock. I believe this is one bank that never closed its doors during the Great Depression when others folded or went on a 'holiday'. Don't know I would want to tie up money for 7 to 10 years in a CD unless there wasn't much penalty for cashing it early. I would worry about inflation over that long a period.