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!
Self help crfedit union
- Thread starter vmaxie
- Start date
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
look on fatwallet (www.fatwallet.com) in the cd threat. they are about 4.95% on a 1 year cd last time I looked.
Uncledrz
edit: actual cd website: http://www.fatwallet.com/t/52/320690/
look on fatwallet (www.fatwallet.com) in the cd threat. they are about 4.95% on a 1 year cd last time I looked.
Uncledrz
edit: actual cd website: http://www.fatwallet.com/t/52/320690/
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.
http://www.corusbank.com/PRODUCTS/Currates.htm
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.
http://www.corusbank.com/PRODUCTS/Currates.htm
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! :
brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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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.
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.
