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pen fed cds
Old 08-31-2016, 05:41 PM   #1
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pen fed cds

What is going on with penfeds low rate cds. They use to be good so I put my Roth money in their CDs. R enewals are coming due so I am looking to each cd as the time comes. I am a little frustrated as I had all my roth $ in Pen Fed and standard IRAs in Melrose. Seemed like a nice setup.

Any recommendations, how is Ally bank ?

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Old 08-31-2016, 05:43 PM   #2
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Navy FCU is offering a 20 month, 2% certificate. You have the option of adding to it after you purchase one.

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Old 08-31-2016, 05:59 PM   #3
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We keep our cash-stash in a PFCU CD ladder. The next rung matures in Jan 2016 so, we'll also be looking for options. Interested in suggestions.
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Old 08-31-2016, 09:14 PM   #4
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The Best CD rates in the country ? thread mentions a 3%/84 month CD from Andrews Federal Credit Union for IRA money.


That is the best I have seen recently.
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Old 08-31-2016, 10:00 PM   #5
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Feds could possibly raise rates in September, we will see, most big banks stocks getting a pop on the likely hood of a rate increase, so I'm holding off till the fed meeting.
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Old 09-01-2016, 12:26 AM   #6
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Andrews Credit Union has a 7 yr CD that is only for IRA money paying 3% and 6 mos EWP. Best I've found lately. I purchased the Pen Fed 3% 5 year CD's but still have a couple years til they mature.

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Old 09-01-2016, 06:14 AM   #7
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good luck with the fed raising the interest rate. I waited a year for it and when it came time to make an increase, some statistic looked bad to them so they put it off. I think the deciding factor is the national debt and the cheap money for banks and that is not going away as long as they can avoid it. the war on savers is not over.
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Old 09-01-2016, 06:33 AM   #8
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I am looking for a replacement for Pen Fed to slowly move my cd ladder to. Some of the banks like ally, sync, etc
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Old 09-01-2016, 06:52 AM   #9
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Patelco had 2.5% 5 year cd's a few months ago, but has dropped to 1.95% ! Melrose was 2.42 % for 5 year, dropped recently to 2.22%. Ukrainian Selfreliance Federal CU had 3.0% for 5 (or 7?) year CD a few months ago. But you have to prove you are of Ukrainian descent.
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Old 09-01-2016, 07:37 AM   #10
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We are at PenFed Also with 5 year CDs. Maturing in late 2018 @ 3%. Hopefully there will be more options then. DW Gov 457b Pays 3% very reliably too. 3% on all our stash is the minimum we need to live a VERY comfortable retirement with no worries for any foreseeable future. We currently do that at worse. It only goes up from there. I always told DW before we retired. At 3% we live very well but at 5% or above we live like kings. Looking forward to those days.

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Old 09-01-2016, 12:25 PM   #11
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Andrews FCU announced a special CD rate today of 2.02 for 60 mos. The IRA special rate is still available 3.0 for 7 yrs. Their EWP is only 6 mos.

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Old 09-01-2016, 01:40 PM   #12
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Even if the Fed raises rates, it will affect the short-term rates much more than the longer. Matter of fact, after the increase last Dec, long-term rates came down.

A recession is more likely than continued expansion and since we can't know the timing of it, maintaining a CD Ladder will allow you to almost always re-invest at the best rate. Long-term CD ladders, on average, beat short-term ones by 1.5 to 2.00%. When the term premium isn't there, it has usually been a signal for a downturn in the economy. is a great site for finding the best rates.
cd :O)
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Old 09-01-2016, 09:04 PM   #13
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In the same boat. Have Penfed CD's maturing this Oct and Nov.

Been watching rates, does not look good. Was going to go Patelco, since
they are a local C.U. here, but as mentioned 2.5%/5 yr. long gone.

Maybe, Melrose?

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