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Started By
Message
My Credit Union is offering CD's at 2.5% - 48 mo. term
Posted on 8/18/15 at 4:26 pm
Posted on 8/18/15 at 4:26 pm
Would you take advantage? 
7
Posted on 8/18/15 at 4:32 pm to LSUengineer12
Meh, too long of a term for me, personally.
Posted on 8/18/15 at 4:32 pm to LSUengineer12
Sounds like a nice spot to park a home down payment or HSA if you could arrange it.
Posted on 8/18/15 at 4:50 pm to LSUengineer12
48 months is a really, really long time.
What's the penalty for early cashout? Lose all the interest?
What's the penalty for early cashout? Lose all the interest?
Posted on 8/18/15 at 5:31 pm to LSUengineer12
Definitely not.
Posted on 8/18/15 at 9:59 pm to TheHiddenFlask
Someone got that email from Essential FCU/CU formerly known as Dow La FCU...
Posted on 8/18/15 at 11:21 pm to TheHiddenFlask
Run..
Posted on 8/19/15 at 12:10 am to LSUengineer12
No
Posted on 8/19/15 at 6:53 am to LSUengineer12
Everyone is saying no, but if you absolutely know that you won't need the money in that timeframe, and you can't tolerate any risk, why wouldn't you?
Posted on 8/19/15 at 7:11 am to Stingray
Everyone betting on an interest rate hike soon? I guess that is a reasonable position. I would guess the it will be a very slow rise. Something negative seems to frequently happen to hamper it.
Posted on 8/19/15 at 7:24 am to Stingray
quote:
Everyone is saying no, but if you absolutely know that you won't need the money in that timeframe, and you can't tolerate any risk, why wouldn't you?
Posted on 8/19/15 at 7:49 am to LSUengineer12
I say no, and not for the reasons listed already of too long or not wanting to lock money away.
First, search other CU rates.
Second, what is the min or max allowed in the CD?
for comparison I currently have a $5000 CD at 5% for 12 month and another that allows up to $7500 at 3.5% for 15 months. (both of these were very special rates)
My CU offers a yearly $3000 max at 3% for 12 months to all members.
First, search other CU rates.
Second, what is the min or max allowed in the CD?
for comparison I currently have a $5000 CD at 5% for 12 month and another that allows up to $7500 at 3.5% for 15 months. (both of these were very special rates)
My CU offers a yearly $3000 max at 3% for 12 months to all members.
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