Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Self help crfedit union
Old 12-08-2005, 07:41 AM   #1
Confused about dryer sheets
Join Date: Dec 2005
Posts: 3
Self help crfedit union

Hello all. I have been looking at CD rates and have found the Self Help Credit Union (SHCU) in NC to have the highest 6 month & 1 year rates. As a federal credit union they are federally insured. Has anyone invested with them? Would appreciate any comments regarding their service, online website, etc. Many thxs!

vmaxie is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Self help crfedit union
Old 12-08-2005, 08:37 AM   #2
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,005
Re: Self help crfedit union

I can tell you that they are a real, legitimate business. I interviewed for a job with them a few years ago, and they have an office building in downtown Durham, NC. I've only heard good things about them, and they help the local community with targeted lending (not predatory lending!). Plus, if they are NCUA insured, you're safe up to the limits (probably $100k). Mind sharing what the rates and terms are on their CD's? I've looked at them in the past, but the rates weren't quite high enough for me to deposit with them.


justin is offline   Reply With Quote
Re: Self help crfedit union
Old 12-08-2005, 03:02 PM   #3
Full time employment: Posting here.
Join Date: Mar 2005
Posts: 557
Re: Self help crfedit union

look on fatwallet ( in the cd threat.* they are about 4.95% on a 1 year cd last time I looked.

edit: actual cd website:
uncledrz is offline   Reply With Quote
Re: Self help crfedit union
Old 12-08-2005, 05:39 PM   #4
Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,187
Re: Self help crfedit union

I checked their website and it would cost $25 to join.
corusbank currently has a 1 year with 4.84% APY.
With the $25 membership fee, you'd have to get a $300k CD at 4.95% to breakeven.
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Re: Self help crfedit union
Old 12-12-2005, 11:45 PM   #5
Confused about dryer sheets
Join Date: Nov 2005
Posts: 9
Re: Self help crfedit union

I recently opened a jumbo cd at a very good rate at SHCU via mail and shortly thereafter received a very nice personal letter from the CEO thanking me for the business. When was the last time that happened? I wonder if he's planning on keeping the money forever . . . should have asked him! :
Chaps is offline   Reply With Quote
Re: Self help crfedit union
Old 12-13-2005, 07:06 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 17,028
Re: Self help crfedit union

Just for fun, I had a look at the most recent reglatory financials for Self Help. They are small ($100 something million in assets) and they appear to make fairly risky loans, since almost 5% of the loan book is delinquent. However, when loans do go bad, they are able to collect most of what they are owed, with a net charge off to assets ratio of less than 1/2%. To compensate for the riskiness of their loans, they have a lot of capital (22% of assets at 6/30).

Self Help looks reasonably safe. They probably are marginally riskier than someone like Pen Fed, but they appear to know their business and make a fair amount of money, considering they are a non-profit. Probably a reasonable place to put your money, assuming you get good rates and don't go over the deposit insurance limit.

"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

- Will Rogers
brewer12345 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Union Venting - Grrrr!!! Fireup2020 Other topics 48 04-08-2007 03:18 PM
FDIC/NCUA insurance question (re: Pentagon Federal) magellan_nh FIRE and Money 24 01-10-2007 05:22 PM
Digital Federal Credit Union 6% CD Non sequitur FIRE and Money 8 11-30-2006 11:47 AM
Is your union hiring your financial advisor with your dues? Nords Young Dreamers 3 05-03-2006 09:37 AM
Another 5% CD in a Florida Credit Union (3 Year) ShokWaveRider FIRE and Money 7 07-20-2005 07:00 PM

» Quick Links

All times are GMT -6. The time now is 12:50 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.