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PEN FED Share Certificates at it again
12-27-2012, 08:00 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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PEN FED Share Certificates at it again
PENFED FCU is now offering 1.5 percent 2 yr certificates and 1.75 percent 3 year certificates. Who would have thought that these rates would look attractive a few years ago.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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12-27-2012, 08:27 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: The Bay Area
Posts: 2,736
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Quote:
Originally Posted by jimnjana
PENFED FCU is now offering 1.5 percent 2 yr certificates and 1.75 percent 3 year certificates. Who would have thought that these rates would look attractive a few years ago.
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I've considered laddering these for the cash portion of our AA. Does anyone have any experience with them?
__________________
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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12-27-2012, 03:05 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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i have used Penfed CDs for 5+ years ... no problems (except the current rates).
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12-27-2012, 05:53 PM
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#4
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by Huston55
I've considered laddering these for the cash portion of our AA. Does anyone have any experience with them?
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They're a perennial favorite with this board's posters. Anyone can join PenFed.
We have our daughter's college fund in PenFed CDs, as well as a chunk of our ER portfolio's spending cash.
You need to be the type of investor who can do it all online through PenFed's website. It's an excellent website, but they've put all of their money into that and nothing into personal assistance. PenFed's customer service is as cheap as Vanguard, only the quality is even worse. They were completely unable to figure out how to handle my conservator's attempts to invest my father's money in their CDs-- twice.
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12-28-2012, 09:51 PM
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#5
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Confused about dryer sheets
Join Date: Sep 2005
Posts: 3
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Penfed CDs (thanks to this board's recommendations) saved my butt during the Great Recession--I went to 20% stocks in early 2007 and put the rest of my taxable money in Penfed 7-year CDs paying 6.25%. It sure is going to be a shock in 2014 when the CDs mature and I'll have to reinvest in a low-rate environment, but I guess the bright side is that I won't have to pay as much in yearly tax on all the CD income.
The other good thing about Penfed is that you can funnel CD income into their money market fund and instantly transfer it to pay off a Penfed credit card (5% on gas, 3% on groceries, 1% on everything else, points redeemed as VISA debit card or Amazon gift card).
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12-29-2012, 07:12 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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Quote:
Originally Posted by zoshka
Penfed CDs (thanks to this board's recommendations) saved my butt during the Great Recession--I went to 20% stocks in early 2007 and put the rest of my taxable money in Penfed 7-year CDs paying 6.25%. It sure is going to be a shock in 2014 when the CDs mature and I'll have to reinvest in a low-rate environment, but I guess the bright side is that I won't have to pay as much in yearly tax on all the CD income.
The other good thing about Penfed is that you can funnel CD income into their money market fund and instantly transfer it to pay off a Penfed credit card (5% on gas, 3% on groceries, 1% on everything else, points redeemed as VISA debit card or Amazon gift card).
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I am still crying over a 5% CD I saw in late 07 but did not buy. I thought at the time 5% was not high enought to lock in for seven years. Where is that time machine?
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12-29-2012, 07:38 AM
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#7
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Recycles dryer sheets
Join Date: Sep 2012
Posts: 73
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PFCU is the best. We have been with them for many years now, and have several CD's, credit card, and mortgage with them. Their customer service is fantastic!
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12-29-2012, 09:47 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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Quote:
Originally Posted by rec7
I am still crying over a 5% CD I saw in late 07 but did not buy. I thought at the time 5% was not high enought to lock in for seven years. Where is that time machine?
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They had a 10 year 5% CD the first of 2011 that I jumped on. Of course that rate may not look so good a few years from now. I cried when my 6.25% CD matured a year or so ago. I elected a 5 year term when I could have locked it in for 7 years at the time.
Oh well......you just never know.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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12-29-2012, 10:23 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 2,782
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Anything to look out for if I move some IRA cash to a new PenFed IRA? Bad/good/same-as-above experiences specific to IRAs, anyone?
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12-29-2012, 10:28 AM
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#10
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Recycles dryer sheets
Join Date: Sep 2012
Posts: 73
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In addition to regular CDs we have ROTH and traditional CDs at PFCU. As I noted above, excellent service.
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