Best CD & MM Rates Thread 2019 - Please post updates here

[audreyh1]

Did not really have a choice, we do not like multiple institutions for our IRAs and have invested in CDs since 2000. So far fingers crossed, but we always chose highly rated Credit unions.

Why it is an different than putting $3m with one brokerage?

Oh, it’s totally different!

 

[ShokWaveRider]

When you say we - if it’s a joint account (couple) you should be covered up to $500K, $250K each?

Not for qualified funds, IRAs are not joint.

 

[Spock]

Did not really have a choice, we do not like multiple institutions for our IRAs and have invested in CDs since 2000. So far fingers crossed, but we always chose highly rated Credit unions.

Why it is an different than putting $3m with one brokerage?

Brokered CDs can be peanut buttered across multiple institutions to stay below FDIC limits. The Fidelity ladder tool will assist with staying below the limits. One brokerage account holding 12 CD 250K CDs an poof everything is FDIC insured.



"Not having a choice".... what you really mean is you wanted that specific rate and took on the associated risks to get it. Psychologically the risk was mediated by choosing a higher rated institution, but then you have the institutional longevity risk of it maintaining a higher rating over the life of the CD.

 

[Montecfo]

Potlach- haha. Quite a tradition among the PNW coastal Indian tribes for hosting big potlatches where they gave away huge amounts of personal wealth. Something cracked down upon later by the Canadian government. Funny a credit union taking that name.

Potlatch is the name of a big timber company that I think I bought out a few years ago. My guess is this is or was originally an employee credit union.

 

[Gotadimple]

American Express High Yield Savings Account rate drops to 1.75% from 1.90% APY as of 11/7/19

 

[calmloki]

Potlatch is the name of a big timber company that I think I bought out a few years ago. My guess is this is or was originally an employee credit union.

Yep - the website says they started when Potlatch timber employees were having trouble borrowing money.
https://www.p1fcu.org/our-story

We just sold a little rental house and are looking for a place to put half the money - Potlatch, PSECU, GTE... Happy tip: don't read the reviews if you want to sleep well. I guess all we are hunting is insured deposit certificates, but wow are there some unhappy people out there!

 

[Dtail]

American Express High Yield Savings Account rate drops to 1.75% from 1.90% APY as of 11/7/19

Ally Bank dropped their no penalty 11 month CD to 1.90%.
Simple does have a 2.15% MM.

 

[audreyh1]

Not for qualified funds, IRAs are not joint.

Oh right forgot IRAs.

 

[Dhickman57]

Centier bank has 3 year rising rate CD with a blended rate of 2.0%. Best I could find locally in Indiana.

 

[24601NoMore]

You can easily get > $250K (individual) or $500K (joint) FDIC or NCUA insurance by using POD beneficiaries..

https://www.depositaccounts.com/blog/2011/05/maximizing-your-fdic-coverage-with-beneficiaries.html

 

[pb4uski]

^^^ but not with IRA money

 

[ShokWaveRider]

You can easily get > $250K (individual) or $500K (joint) FDIC or NCUA insurance by using POD beneficiaries..

https://www.depositaccounts.com/blog/2011/05/maximizing-your-fdic-coverage-with-beneficiaries.html

I do not think that works with IRAs, but I hope it does.

 

[pb4uski]

I do not think that works with IRAs, but I hope it does.

You are right... it does not work with IRAs... I wish it did.

 

[Henry Lili]

PSECU deals are no longer available. Took a look today (11/10). I got $50k in PSEcU at 3.2% another $60k rolling off other cds this month. Have GTE 2.8% add-on as an option. Oh, well.

You are right... it does not work with IRAs... I wish it did.

 

[calmloki]

PSECU deals are no longer available. Took a look today (11/10). I got $50k in PSEcU at 3.2% another $60k rolling off other cds this month. Have GTE 2.8% add-on as an option. Oh, well.

Doggone it. Too slow here.
But wait! NavyCU sent me an email just now! 3.5% to honor veterans! Cool!. except it is their Easy Start cert that does pay 3.5% for a year, but has a $5000 maximum deposit amount. Also has some other restrictions, but my excitement level dropped already.

 

[zekeboz]

Service Credit Union - Deployed Warrior Certificate 10% up to 10K.

https://servicecu.org/rates/

 

[njhowie]

Deployed Warriors are defined as members who are assigned to or who have returned in the past 120 days from peacekeeping operations, hostile environments, or combat/war zone areas where our troops are in imminent danger of enemy attack (PCS does not qualify).

Few here will qualify.

 

[RetiredAndLovingIt]

5 months, 5% CD Max 25K.

California Credit Union is open to 1) those who live or work in Orange, Riverside or San Diego Counties in California; 2) employees of the Los Angeles Unified School District or Los Angeles County Office of Education, retired educators, charter school employees, college or university employees, private school employees who live in California, and P.T.A. or Alumni Association members who live in California; or 3) family of credit union members .

https://www.depositaccounts.com/banks/california-cu.html#promo39518


https://www.ccu.com/about-us/join/who-can-join

 

[njhowie]

Ally - now 1.7%...Marcus still at 1.9%.

An update about your Online Savings Account.

njhowie, as you may have heard, the Federal Reserve cut the fed funds rate for the third time since July. Unfortunately, like many other online banks, these rate cuts will impact the rate on your Online Savings Account.

Starting 11/13/2019, the Annual Percentage Yield (APY) on your Online Savings Account is changing from 1.80% APY to 1.70% APY. It will show online in your account details on 11/14/2019.

What this means in dollars and cents.
This 0.10% APY decrease means you’ll earn at least $5 less in interest a year for every $5,000 in your account. Interest earnings are always nice to have, but your savings strategy shouldn’t rely on that alone.

 

[24601NoMore]

Ally - now 1.7%...Marcus still at 1.9%.

Ally's been one of the fastest to drop rates. Too bad..guess all of our remaining savings (what little we haven't already moved to other places) is going to have to be moved out also.

 

[jollystomper]

Ally - now 1.7%...Marcus still at 1.9%.

Capital One 360 Money Market is also still at 1.9%, at least as of today.

 

[audreyh1]

Synchrony is also maintaining 1.9%. My Fidelity MM funds have dropped below that level.

 

[pb4uski]

Discover Bank dropped to 1.8% from 1.9% and 2.0% earlier in the year.

 

[cbo111]

Capital One 360 Money Market is also still at 1.9%, at least as of today.

I have a large Cap One CD maturing in two weeks. Pondering where to move the $$, maybe I'll just let it sit for about in their MM.

 

[Golden sunsets]

Andrews Federal Credit Union

Deal Summary: 84-month Share Certificate Special, 3.05% APY, $1k min/$250k max deposit, limit of one certificate per member.
Availability: Easy membership requirement
The 84-month Share Certificate Special (SCS) offered by Andrews Federal Credit Union (Andrews Federal) is nearing its one-year anniversary. Although its rate dropped in August from its initial 3.45% APY to 3.05% APY, the 84-month SCS is still a rate leader and is one of the few nationally available 3%+ CDs. The minimum opening deposit is $1k, with a balance cap of $250k.

This one's a little too far out for me, but others may not mind the 7 year term.