• Go to page :
  • 1 23
  • Text Only
Voting History
rated:
Agriculture Federal Credit Union
-Miminum is $1,000 to open account.
-You must also up a savings account with a minimum deposit of $5. I believe the minimum to avoid fees is $100.


This thread is to discuss deals, eligibility, and user experiences.

Eligibility: The best part of this deal in my opinion is this credit union is open to anyone who pays a $20 fee to join the "Dance Society". It is pretty hassle free, you check to become a member on your account application. This is truly a national deal.

Legitimacy: I searched "Agriculture" on the ncua.gov website and followed the link from there so I have confidence this isn't a phishing scam.

Sign up: Sign up was fairly easy but there were two downsides.

1) You must open a share savings account
2) You cannot transfer more than $10,005.00 from a new linked funding account. I wanted to deposit $10K in the CD so this wasn't that big of a deal for me. I put $9,980 in the CD (oh well), $20 for the Dance Club, and $5 for the savings account (I'll deposit another $95 later in the savings account to avoid fees).

Credit Card Funding: All credit card funding of accounts are treated as cash advances, no real advantage here as you could have done a cash advance on your own and transferred later. Less attractive than it originally appeared.

Member Summary
Most Recent Posts
My CD purchase was funded with my citi dividend card. It was treated as a regular purchase: no fees, no interest, and I... (more)

BobG (Jul. 14, 2006 @ 3:41a) |

Is it just me, or is the agriculturefcu website down? <img src="i/expressions/face-icon-small-shocked.gif" border=0>

makeinu (Jul. 21, 2006 @ 12:26p) |

It's up for me. Perhaps a firewall issue?

slimcustomer (Jul. 21, 2006 @ 12:56p) |

http://www.agriculturefcu.org/about/join.html

You qualify for membership if you fall within the following categories:

* Persons who work, worship, volunteer, attend school in, and businesses and other legal entities in the District of Columbia.
* Employees, employee family members, and persons retired as pensioners or annuitants of our select employee group (SEG) companies and organizations
* Contractors who work with our select employee group (SEG) companies, co-workers and family members
* Individuals who are or become members of CityDance Ensemble are also eligible for membership.
-----
Become a Member of CityDance

By becoming a member of CityDance Ensemble, you are eligible to join AFCU....It is fast, easy and you will be glad you joined.

Founded in 1996, CityDance has quickly established itself as the preeminent modern dance company in Washington DC. It offers dance education and performances to children of all background and ages, with an unwavering commitment to the most under-served neighborhoods. CityDance early Arts has become the largest outreach program of any modern dance company in the area, performing for over 10,000 children a year and teaching over 450 children weekly. It promotes creativity, teamwork, social interaction skills, physical fitness, self-awareness, confidence and self-esteem, and provides the opportunity for the students to grow as artist, individuals and members of the community.

CityDance has open membership to anyone that pays membership dues of $20.00.Please remember that when joining AFCU and CityDance Ensemble, the initial minimum deposit is $25.00 as $20.00 will be membership dues to CityDance Ensemble.

Schedule of Fees - link
Thanks for visiting FatWallet.com. Join for free to remove this ad.


Can anyone confirm which credit bureau they pull, and whether they do it only if you apply for a loan/line, or for a basic membership?

DaveHanson said: [Q]Can anyone confirm which credit bureau they pull, and whether they do it only if you apply for a loan/line, or for a basic membership?

Dave, when I applied it said that it would perform a credit check. It then asked a series of questions (which of the following addresses have you lived at). I'm 80% sure that on that screen it said "powered by Experian". Sorry I can't be of more help, maybe someone else can add their experience.

What happens after 6 months? Is 10K the max that I can park in this account?

smilesdotcom said: [Q]What happens after 6 months? Is 10K the max that I can park in this account?

Maybe I mispoke or I'm misunderstanding your question. You can only use your brand new linked funding SOURCE account to transfer 10K the first day it is connected. Because I only wanted to transfer 10K I just went ahead. It is my understanding I could have became a member and put $5 in the saving account. Once everything was confirmed I believe I could have transferred as much money as I wanted into as large an account as I wanted.

It seems that 100K may be the limit of what is safe to put in this account: "your funds are insured up to $100,000 by the National Credit Union Administration."

So is 6% a 6 month "teaser" rate? Any idea what rates might be after 6 months?

Well, it's a CD, so you're guaranteed the 6% APY for 6 months. However, if you look at their rate lists you can see that the 6mo rate is higher than the 12 or 24mo rates.

The big question is: what happens when the CD matures? It's worth checking with a MSR before opening an account. If I had to guess, I'd guess that it would just renew with whatever the prevailing APR is at the time, which would probably be relatively lower.

Bugger...

got to the final stages of the application, i.e. post hard inquiry and realized I hadn't funded it with enough to avoid minimum fees.

So, I press the <-BACK button at the bottom and got a "Oops! You must have pressed the Back button on your browser. We lost your application you gotta start over!" message.

Lame, lame, lame.

Tried again and got a message indicating that everything was AFU and to call them sometime tomorrow.

Lame.

mbaker4096 said: [Q]Bugger...

got to the final stages of the application, i.e. post hard inquiry and realized I hadn't funded it with enough to avoid minimum fees.


Just checked my report, don't see a hard inquiry. Have you checked yours?

Wonder how long this deal will stay open to all? Will it be like that Middlesex deal that was open to all for the first two days then became in state only. With sites like FW I don't think banks/cu's quite understand the power of the Internet when they offer these special promo's. They are only a $167 Million CU so if they do bring in a large amount of chasers who will get out after 6 months could that spell trouble for them? They have NCUA but I don't want to find out how that works. Has anyone asked about how to close and get funds at maturity? I will pass on this one and keep my eyes open for more local deals.

I called today and AFCU rep said the 6% rate is closing out today...I'm opening my account with a notation that my cd deposit will follow. the rep was really nice. they will still give me the 6% despite not having the funds in by COB today.

bluegenie said: [Q]mbaker4096 said: [Q]Bugger...

got to the final stages of the application, i.e. post hard inquiry and realized I hadn't funded it with enough to avoid minimum fees.


Just checked my report, don't see a hard inquiry. Have you checked yours?

I spoke to them on the phone, they do soft inquiries on equifax unless you are applying for credit as well, then it would be a hard inquiry

x43b said: [Q]Agriculture Federal Credit Union currently has a 6.0% share certificate offer.
-Miminum is $1,000 to open account.
-You must also up a savings account with a minimum deposit of $5. I believe the minimum to avoid fees is $100.


This thread is to discuss deals, eligibility, and user experiences.

Eligibility: The best part of this deal in my opinion is this credit union is open to anyone who pays a $20 fee to join the "Dance Society". It is pretty hassle free, you check to become a member on your account application. This is truly a national deal.

Legitimacy: I searched "Agriculture" on the ncua.gov website and followed the link from there so I have confidence this isn't a phishing scam.

Sign up: Sign up was fairly easy but there were two downsides.

1) You must open a share savings account
2) You cannot transfer more than $10,005.00 from a new linked funding account. I wanted to deposit $10K in the CD so this wasn't that big of a deal for me. I put $9,980 in the CD (oh well), $20 for the Dance Club, and $5 for the savings account (I'll deposit another $95 later in the savings account to avoid fees).

Credit Card Funding: All credit card funding of accounts are treated as cash advances, no real advantage here as you could have done a cash advance on your own and transferred later. Less attractive than it originally appeared.

Not sure if it will show as a cash advance. tried funding with my debit card it rejeceted. I have a 3000 purchase limit with my debit card but a 10,000 cash advance limit. tried 10,000 when it rejected. decided to do a transfer from my checking account.
Later today I decided to open a second account
Tried my capital one cc that has no cash advance fees so i am safe either way. that has a cash advance limit of 7000 and a purchase limit of 14,000. did a new account for 8,000. it went through, which leads me to believe it will show as a purchase and i'll get points if its true, otherwise i will pay interest for a couple of days and pay off.
The one thing that did happen though is that the account showed with a 4.91% rate instead of 6%. looks like the rate will change 6/1 to 4,91. I tried calling but the ofice is closed, so i sent an email as the date that shows on thir webiste online account shows as being open on 5/31.

nymgiants said: [Q]x43b said: [Q]Agriculture Federal Credit Union currently has a 6.0% share certificate offer.
-Miminum is $1,000 to open account.
-You must also up a savings account with a minimum deposit of $5. I believe the minimum to avoid fees is $100.


This thread is to discuss deals, eligibility, and user experiences.

Eligibility: The best part of this deal in my opinion is this credit union is open to anyone who pays a $20 fee to join the "Dance Society". It is pretty hassle free, you check to become a member on your account application. This is truly a national deal.

Legitimacy: I searched "Agriculture" on the ncua.gov website and followed the link from there so I have confidence this isn't a phishing scam.

Sign up: Sign up was fairly easy but there were two downsides.

1) You must open a share savings account
2) You cannot transfer more than $10,005.00 from a new linked funding account. I wanted to deposit $10K in the CD so this wasn't that big of a deal for me. I put $9,980 in the CD (oh well), $20 for the Dance Club, and $5 for the savings account (I'll deposit another $95 later in the savings account to avoid fees).

Credit Card Funding: All credit card funding of accounts are treated as cash advances, no real advantage here as you could have done a cash advance on your own and transferred later. Less attractive than it originally appeared.

Not sure if it will show as a cash advance. tried funding with my debit card it rejeceted. I have a 3000 purchase limit with my debit card but a 10,000 cash advance limit. tried 10,000 when it rejected. decided to do a transfer from my checking account.
Later today I decided to open a second account
Tried my capital one cc that has no cash advance fees so i am safe either way. that has a cash advance limit of 7000 and a purchase limit of 14,000. did a new account for 8,000. it went through, which leads me to believe it will show as a purchase and i'll get points if its true, otherwise i will pay interest for a couple of days and pay off.
The one thing that did happen though is that the account showed with a 4.91% rate instead of 6%. looks like the rate will change 6/1 to 4,91. I tried calling but the ofice is closed, so i sent an email as the date that shows on thir webiste online account shows as being open on 5/31.

UPDATE:
received this message via email
Due to the high
volume of interest of the 6 Month Certificate the special rate of 6%
will end as of tomorrow June 1st.

They also will correct my rate to 6%. They answered my email within 20 mintues. FANTASTIC! and great service. Just checked online and the rate was corrected.

Anyone able to find the early withdrawal penalty?

First of all, you don't have to pay the $20. Can't go into details but you can probably figure it out.
Second, they don't treat a credit card funding as a cash advance. Why? because they don't request your PIN#.
Third, you don't have a limit technically. Yes there is a $10K limit per CD, but you can open as many CD's as you want.

You are right about something though, they are nice people.

thecpa said: [Q]First of all, you don't have to pay the $20. Can't go into details but you can probably figure it out.
Second, they don't treat a credit card funding as a cash advance. Why? because they don't request your PIN#.
Third, you don't have a limit technically. Yes there is a $10K limit per CD, but you can open as many CD's as you want.

You are right about something though, they are nice people.

I agree with you on the purchase point, but not becasue of the pin. They can do a cash advance without a pin. I have done it before when opening accounts (everbank)and they treat it as a cash advance.


rollercoaster said: [Q]I called today and AFCU rep said the 6% rate is closing out today...I'm opening my account with a notation that my cd deposit will follow. the rep was really nice. they will still give me the 6% despite not having the funds in by COB today.

Their website still shows 6.36% APY for their 36-month CD.

nymgiants said: [Q]thecpa said: [Q]First of all, you don't have to pay the $20. Can't go into details but you can probably figure it out.
Second, they don't treat a credit card funding as a cash advance. Why? because they don't request your PIN#.
Third, you don't have a limit technically. Yes there is a $10K limit per CD, but you can open as many CD's as you want.

You are right about something though, they are nice people.

I agree with you on the purchase point, but not becasue of the pin. They can do a cash advance without a pin. I have done it before when opening accounts (everbank)and they treat it as a cash advance.

the charge did appear on my cc can't tell yet if its a purchase or a cash equivalent transaction, i should know after my next statement to see if i get points

workingonit said: [Q]rollercoaster said: [Q]I called today and AFCU rep said the 6% rate is closing out today...I'm opening my account with a notation that my cd deposit will follow. the rep was really nice. they will still give me the 6% despite not having the funds in by COB today.

Their website still shows 6.36% APY for their 36-month CD.

could you just call your CC to know whether they treat it as purchase? Thanks.
Also, which company's CC are you using?

I called the bank and verified it would be treated as a cc purchase. The transaction posted three days ago as a purchase. I don't want to name my cc company but I can tell you this...don't call your cc company! Let the transaction go through without human intervention. I have found through past experience that CSR's tend to complicate things.

moonchen77 said: [Q]workingonit said: [Q]rollercoaster said: [Q]I called today and AFCU rep said the 6% rate is closing out today...I'm opening my account with a notation that my cd deposit will follow. the rep was really nice. they will still give me the 6% despite not having the funds in by COB today.

Their website still shows 6.36% APY for their 36-month CD.

could you just call your CC to know whether they treat it as purchase? Thanks.
Also, which company's CC are you using?

I used 2 cards for 2 accounts my capital one miles card and my randolf brooks credit union card. Both had a $0 balance both do not charge a cash advance fee (just in case) and both give me 1% points.

There are other CU's with higher rates out there. California Credit Union is offering at 8% rate.

LINK

I'm not seeing this 8%. Are you on crack?

chris58950 said: [Q]I'm not seeing this 8%. Are you on crack?

It's right there on the front page, a big 8.

It's for $1000-$5000 for 8 months with direct deposit required

Senturon said: [Q]chris58950 said: [Q]I'm not seeing this 8%. Are you on crack?

It's right there on the front page, a big 8.

It's for $1000-$5000 for 8 months with direct deposit required

Wow. Big friggin' whoop.

2.5% over market rate for a maximum of 8 months on a maximum of $5K. So that's essentially 2/3*2.5%*5000 = $82, or about $10 per month you're stuck with this place.

Who goes through all the trouble of moving their money AND setting up direct deposit to get a whopping $10/month?

Why does stuff like this even get posted?

Kwad

KwadGuy said: [Q]
Who goes through all the trouble of moving their money AND setting up direct deposit to get a whopping $10/month?
Kwad
About 90% of the people on FW?
But this is their Forum so I guess it's not our place to criticize

KwadGuy said: [Q]
Why does stuff like this even get posted?

Kwad

I agree that there is a limited appeal to these credit union deals that require direct deposit. Not all of them do, however, and if you had been diligent over the past year you could have assembled a portfolio of 7%+ high yield cds from different credit unions. This can add up for those with a lot to invest.

slimcustomer said: [Q]KwadGuy said: [Q]
Why does stuff like this even get posted?

Kwad

I agree that there is a limited appeal to these credit union deals that require direct deposit. Not all of them do, however, and if you had been diligent over the past year you could have assembled a portfolio of 7%+ high yield cds from different credit unions. This can add up for those with a lot to invest.

I consider myself to be fairly diligent in looking for high cd yields, but I don't recall seeing any credit unions that were easy to join that offered cd's with 7% yields. Could you list some of those that did.

That 6.36% APY is still available on their 36-month CD. But the option to fund by CC is only available during your membership application. (They confirmed that they charge it as a purchase, and Chase promised that they'll honor it as such, so I'm getting an additional 1% CashBack!)

workingonit-

That 6.36% APY is still available on their 36-month CD. But the option to fund by CC is only available during your membership application. (They confirmed that they charge it as a purchase, and Chase promised that they'll honor it as such, so I'm getting an additional 1% CashBack!)


Actually, you can still do CC purchases even after the initial funding. When buying after the initial purchase, you still click on purchase a CD, enter your ID when prompted, then the option for funding allows for a CC purchase.

scott1961 said: [Q]KwadGuy said: [Q]
Who goes through all the trouble of moving their money AND setting up direct deposit to get a whopping $10/month?
Kwad
About 90% of the people on FW? and they don't move their money, They use credit cards. Will never understand that, I feel borrowed money should be used for investing in RE or a business and not for putting it in a bank account
But this is their Forum so I guess it's not our place to criticize

Scott, I agree with you and KwadGuy about going to the trouble of moving money and setting up direct deposit for $10/month not being worth it (for me, but I can't judge others).

Why did you feel the need to bash BT investors again in an unrelated rant?

You may never understand a grad student who has no time to "invest in RE or a business" can supplemant his/her income by 10% a year using BT investments but you don't have to beat us over the head with it, AGAIN. I've played the BT game and my credit score is still 760+ and would go up further if I paid off my BT if I needed a loan. All this while spending under an hour a month for playing the game as a hobby.

I bet for someone who can't understand how a 10% raise in income is worth their time there are DOZENS of people who can't understand having over 2 million dollars in liquid, investable assets but keeping that all in checking and savings accounts without owning a single stock, bond, mutual fund, index fund or other investment vehicle is wise.

My investments have earned well over the LIBOR rate of the SALEM Five account in the long run.


Sorry x43b, I really did not mean to put down the BT game just said I don't understand it. I have even thought about doing it but when I tell my friends they look at me like I am nuts, Then gain they look at me that anyway's because of my ultra-conservative position. If your making 10% additional income and manage it well then that seems great but I have to think we have some young people here reading about this and are headed for a big problem doing BT's.
Also I do own a fair amount of stocks in a brokerage managed portfolio so I do have a decent exposure to the markets

scott1961 said: [Q]Sorry x43b, I really did not mean to put down the BT game just said I don't understand it. I have even thought about doing it but when I tell my friends they look at me like I am nuts, Then gain they look at me that anyway's because of my ultra-conservative position. If your making 10% additional income and manage it well then that seems great but I have to think we have some young people here reading about this and are headed for a big problem doing BT's.
Also I do own a fair amount of stocks in a brokerage managed portfolio so I do have a decent exposure to the markets

Thanks for the reply Scott. I guess we can agree to disagree but I can't see how you "can't understand" how it would be good for some people. To say you "don't understand it" implies that it defies all logic aka is backhanded slam that it is illogical. I understand your point of view on things even if I don't agree with it.

About the investment allocation, in another thread you said 100% of your taxable income was from saving/checking/CD's and you did it just to spite your friends you said it couldn't be done. That brings up a recurring theme of how you base your investment/income based on how other people view you as stated above. I guess I base my decisions based on what will be most profitable for me in the long run, not how I will appear to people.

Additionally, if you are going to take "what about the children(young people)" argument to its logical conclusion, we should not advocate credit cards on this board because over half of all people who have credit cards do not pay off the balance at the end of the month.

Credit cards are are a tool and can either make you or cost you a lot of money. BTs are a tool that can either make you or cost you a lot of money. I think you are making a distinction without a difference. I can qualify for top tier credit anytime I want and in the mean time I can be adding a significant boost to my income. Just like we can advocate responsible credit card use on this board even though "most people" would be better off not using them, we can advocate responsible BT investing even if it may be misused.

CAUTION. JUST HAD A CREDIT CARD PURCHASE OF A CD REJECTED FOR BEING ABOVE THE "CASH" LIMIT (ALTHOUGH BELOW THE PURCHASE LIMIT)!

cak144 said: [Q]
I consider myself to be fairly diligent in looking for high cd yields, but I don't recall seeing any credit unions that were easy to join that offered cd's with 7% yields. Could you list some of those that did.

Research Federal Credit Union is one example. They had a 7% special earlier this year. It was going strong for well over a month until someone posted it publically along with the easy way into membership. I think it was posted on a Friday and was dead by the next Monday or Tuesday. There are lots of deals that never show up in a google or yahoo search. You literally have to comb the thousands of credit union websites individually to find them. Last summer when it seemed that a 5% cd was a rarity, there were literally hundreds of credit unions offering 5% cds and higher. Credit Union deals are out there, you just have to know where to search for them.

ferro said: [Q]Actually, you can still do CC purchases even after the initial funding. When buying after the initial purchase, you still click on purchase a CD, enter your ID when prompted, then the option for funding allows for a CC purchase.

Thanks ferro, I got my second AFCU 36-month CD this morning (still paying 6.36% APY) on that same CashBack card -- after I made sure my payment had been posted to clear the one I bought Friday. And yes, Chase did honor that one as a purchase -- there were no fees from the transaction. Sweet, sweet extra 1% rebate on these CDs!

Rates page shows 4 year term needed for 6.5% APY as of today.

Also, while I'm glad that some have not yet been hit w/cash advance fees, I'd be EXTREMELY wary of trying to fund these with credit cards. Clearly, the staff and supervisors have been briefed that they're supposed to be cash advances. Even if a few slipped though as purchases, that will be changed quickly for anyone who hasn't seen the CA category already. And no one can say they weren't warned--quite the contrary, in fact.

Skipping 73 Messages...
It's up for me. Perhaps a firewall issue?



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014