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10-09-2007, 05:21 PM
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#41
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: No. California
Posts: 1,856
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I opened a CD yesterday and the rep said with the amount of CDs he was opening, he wouldn't be surprised if they brought in the amount of money they wanted, and closed the 6% rate pretty soon.
Now that was his opinion, but he's worked there for years....he's probably seen it happen a lot of times.
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10-09-2007, 06:02 PM
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#42
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,693
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I'm happy, moved some money over from Vanguard and locked in the 6% last Friday night.
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10-09-2007, 06:39 PM
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#43
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2006
Posts: 7,733
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I just joined today, the entire process could not have been easier.
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10-09-2007, 09:36 PM
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#44
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,678
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I also joined and my funding (NMFA membership and $5 Penfed) transaction produced an error when I hit Submit. But it all got straightened out with a phone call. Now I'm just waiting for my FNBO money to get transferred into my bank account so I can get a CD at Penfed.
During the phone call to Penfed I asked if the rate would still be there for a few days and the answer was, "Oh, yes, you still have time."
Hope so.
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10-10-2007, 11:28 AM
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#45
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Full time employment: Posting here.
Join Date: Sep 2006
Posts: 608
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Yesterday, they told me the rate was good through Friday.
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10-10-2007, 01:20 PM
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#46
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Full time employment: Posting here.
Join Date: Aug 2005
Location: Far NW 'burbs of Chicago
Posts: 897
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Please take a look at my other thread "Question about Penfed CD's" and post your comments. I'm trying to decide whether to put more money into another Penfed IRA CD. The one I purchased in March allows me (over 59 1/2) to take one withdrawal or flip, with no penalty at all. The current offering is somewhat more restricted. Committing money for 7 years at today's rate is a big gamble if you can't easily take it out when/ if rates go up.
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10-10-2007, 04:27 PM
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#47
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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Just to confirm the end of the 6% rate with PENFED. Just got off the phone with them and they confirmed the rate will be up through and including Friday (10/12/07). First she said until Friday. I asked does that mean through and INCLUDING Friday? I was told it was good through and including Friday.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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10-11-2007, 09:18 PM
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#48
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Full time employment: Posting here.
Join Date: Aug 2006
Posts: 564
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Hey I've got a question was anybody charged a Bank Fee? I opened with $25 by cc, joining that organization etc. I just paid my cc and they added a $10 Bank Fee. Anybody notice? I guess I will give them a call.
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10-12-2007, 04:09 AM
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#49
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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Site now says "through Friday". Opened a CD yesterday and was told midnight Friday was it. Could not get an idea of the new rate which I assume will be lower.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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10-12-2007, 06:23 AM
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#50
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: No. California
Posts: 1,856
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I got a $2.00 cash advance fee for using my cc to open the acct, paying the $25 as you did. The fee was from my CU, not Penfed.
I had assumed they would send the transaction through as a cc transaction, not a cash advance.
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10-12-2007, 10:12 AM
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#51
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,678
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I just bought CDs this morning over the phone and the customer rep said that the rate will drop to 4.88% tomorrow.
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10-12-2007, 10:41 AM
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#52
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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Sounds pretty good as APR 4.88% is APY of 5.00%. Have to wait to see the spread as it applies to the different terms.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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10-12-2007, 08:29 PM
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#53
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Full time employment: Posting here.
Join Date: Aug 2006
Posts: 564
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I called Pen Fed and then the cc company, yes cash advance. I've never used my CC for cash advance. Wow $10 on $25 is really expensive. I didn't know it would be a cash advance either. CC is from my credit union. Maybe I should call my credit union and ask why the high price!
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10-18-2007, 11:45 PM
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#54
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Recycles dryer sheets
Join Date: Feb 2006
Location: Valencia
Posts: 173
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FWIW:
I live in So Cal. I joined Ped Fed Credit Union via the internet on Thurs Oct 4th and faxed them the application to purchase a 3-yr IRA CD at 6% interest. I also mailed them the original documents. On Tues, the 9th, I called them and confirmed that they had all the paperwork AND that they had forwarded my request to Vanguard. On Thurs Oct 11th, the money was deducted from my IRA at Vanguard, but apparently it was mailed from Vanguard to Ped Fed on Oct 11th. The 6% deal ended at Pen Fed on Friday Oct 12th, with Ped Fed not having received any money from Vanguard. Pen Fed did not receive the funds from Vanguard until this past Tuesday, yet they still gave me the 6% deal.
Unfortunately, when I logged on to Ped Fed on Tuesday, it showed my IRA money OK, except that it was a 7 year IRA, not the 3 yr IRA that I had requested. I called Pen Fed again. OK, today, finally, my account is correct, I got the 6% CD for the proper time period, 3 years.
See, originally, I called on Wed, Oct 3rd, and the lady was nice, but kinda negatively influenced me by telling me that the Vanguard transfer could take ten days to complete AND that the 6% offer would likely not last very long. Was she trying to disuade me? or trying to be helpful? I'm not sure, but I took the plunge and it worked out for me.
I am happy with Pen Fed..........mostly
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10-19-2007, 07:08 AM
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#55
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Recycles dryer sheets
Join Date: Aug 2005
Posts: 193
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I already had a 5.75% APY CD at Penfed from early 2006. I learned of the latest 6% APY offer and wanted to buy a second CD.
The Penfed telephone representative created a new CD over the phone. She interviewd me and electronically transferred ("pulled" in Penfed lingo) funds for a new CD from my checking account at a local bank.
I would have bought a larger CD, but I generally keep less than $200K at any one CU or bank to stay under the federal insurance limit for joint accounts.
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10-19-2007, 07:41 AM
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#56
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by retire@40
The fed cuts rates and PenFed increases their payout rates. I don't get it.
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They need money to smooth out their portfolio. They'll make a nice spread when all is said and done........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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10-19-2007, 09:11 AM
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#57
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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Template: If you are married you can have up to $400,000 in non-IRA accounts at a single institution and have full coverage via FDIC or NCUA insurance. Joint with wife $100K. Wife Joint with you $100K. Individual ownership: YOU $100K. Individual ownership: HER $100K. (Could have up to another $500K in IRA with full coverage. Her $250K you $250K=total in single institution possible $900K).
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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10-19-2007, 09:40 AM
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#58
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,693
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I did my transfer from Vanguard in the morning and the money was at Pen Fed by 4PM.
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10-23-2007, 04:01 PM
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#59
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Recycles dryer sheets
Join Date: Jul 2005
Posts: 76
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We finally got our 6% certificates today. We were transferring IRA funds from T. Rowe, and we knew from prior experience that it would take a while for all the paper work to be processed. We sent in our request before they changed the ending date for the 6% rate. We called them and were told that they had marked our request and would honor the rate. Our funds arrived at PFCU on Oct. 19. We called them yesterday when the certificate purchase was not shown, and they told us that they had so many purchases backlogged, that it might take a couple of more days to get them done, but that they would backdate to the 19th. They are now posted to our account as of that date.
We were very happy that they honored the 6% amount, because they certainly didn't have to do that.
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10-23-2007, 06:55 PM
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#60
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Gosh.....I funded my CD with leftover money from the 5.99% home equity loan Pen Fed funded in June......I was just trying to figure out what to do with these extra funds which arn't needed until two years from now (kids tuition) when the board advised me of this offer.
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