Fed Up with PenFed
So many specific issues I don't know where to start. So I won't. In general though:
1. Slow/poor communications.
2. Loan processing delays
2. IT issues
3. Customer service personnel lying to me.
I currently have no checking and no outstanding loans with this outfit...
Just Ask
If you are hiring the appraiser . . . he works for you. Just tell him you want an appraisal that represents the low end of the range of probable value. If you are not hiring the appraiser you can exert little control.
Yep
My wife and I live comfortably on about 50% of my cola'd pension. The rest is saved and invested. 100% of our taxable and tax-deferred monies (accumulated during our working years) will remain untouched until RMDs are required.
I believe the difference lies in the level of risk perceived by PenFed. It looks like with the ACH debit they post amounts to be transferred to your account before they are actually received. I believe they put a 30 day hold on funds directly transferred to a CD.
Don't ACH Then
Add the account you want to transfer from as an external account to your Penfed account. Then simply select the external account as the source of funds when you set up the CD online. They will do a direct debit of the external account. I routinely fund Penfed CDs this way...
IRA Stuff
I discovered a way to solve the problem that I created years ago when I stated mixing pre-tax and post-tax contributions to my traditional IRA. Turns out that I could separate the pre and post tax monies by transferring the pre-tax portion to my TSP account and the post tax dollars...
From time to time I check the TSP Annuity Calculator https://www.tsp.gov/planningtools/annuities/annuityCalc_select.shtml to determine the value of my CSRS pension.
Based on current interest rates, an inflation-adjusted annuity with a 50% survivor feature paying the same amount as my pension...
Problem is, I have exhausted all other methods of insuring FDIC coverage, short of spreading the money around numerous banks. Othrwise this would not be an issue.
I want to establish an account for my father, as his agent. He has Alzheimer's. Penfed insists that I get my father (in front of a notary) to sign a document indemnifying Penfed against loss. My father no longer has the capacity to understand such a document and cannot therefore legally...