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May I ask how you people joined penfed? You have to be affiliated with defense or the military, don't you? The closest I can get is that my sister in law works for the EPA, but it's not listed on the penfed website. Am I hopeless or what?

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rockets said: May I ask how you people joined penfed? You have to be affiliated with defense or the military, don't you? The closest I can get is that my sister in law works for the EPA, but it's not listed on the penfed website. Am I hopeless or what? Here's a list of eligible insitutions; if you belong to any of these you are eligible for PenFed membership. A few pages later in the instructions, you're told that if you join the National Military Family Association, you are instantly eligible to join PenFed, and you can join them simultaneously.

The cost is $20 to join NMFA and $5 to open a share account at PenFed, and you can charge them to a credit card. Then you can open your CD (which I think they call a Money Market Certificate). If you open your Certificate online, you're limited to a $10,000 transfer. If you want to buy a larger Certificate, give them a call or print out the application and mail it in with a check.

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rockets said: This page is already showing the new APR 6.25% for 3, 4, 5 and 7-year CDs.The rates are good through the end of January, so that gives us time to let our World Savings CDs mature....

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Great, one of the first rights I can exercise as a newly wedded man is to qualify my wife for a free membership at Penfed. I'm also considering opening a Roth IRA CD with these (but have no prior IRA experience). Looks like it might be the best CD deal before April 15.

By the way, for any foreign-born FWers who are wondering about this, don't shy away from Penfed because of its name or military affiliation; U.S. citizenship or permanent residency is not required for membership at Penfed or NMFA.

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For IRA's I would say this would be the best deal you'll see from anyone. My past experience with penfed on ira's has been awesome, because they are among the few that seem to offer the exact same deal for their long term ira's that they do for regular certificates. Thank goodness the rumors were true, I have been doing everything outside of digging in my yard to find extra money, time to go long term as the fed starts to likely decrease rates next year. just my honest opinion, remember 3-5 year early withdrawl penalty is the same, and 7 year is significantly more.

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mariojm said: Great, one of the first rights I can exercise as a newly wedded man is to qualify my wife for a free membership at Penfed.
First rights? Must have been a fun wedding night. Congratulations

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NM


Dupontcobb

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scott1961 said: First rights? Must have been a fun wedding night. Congratulations

One of the first rights, although I sense that we have differing notions of rights and liberties. Thank you!

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Hello World Savings - Where are your good CD rates now, to compete with others?

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I wish Penfed has good rate in 3 months for 6/12/18 months CD. Theirs is too low to compete with other banks. However the 3 years + are great. All reviews are excellent!

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ok i'm new into this CD thing...but i had a question...why would i want a 3 year @ 6% when i can do a 5 month at ~ 4 %? can't i just do the 5 month over and over and get alot more than 6% on a 3 year period?

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flrocks2000 said: ok i'm new into this CD thing...but i had a question...why would i want a 3 year @ 6% when i can do a 5 month at ~ 4 %? can't i just do the 5 month over and over and get alot more than 6% on a 3 year period?

All rates quoted are the rates per year, so to earn 4% you have to keep it in a 4% cd for a full year. so if you put your money in a 4% CD for 5 months, your profit will be roughly 4% x 5/12. Also, when you put your money is a three year 6% CD, your profit is 6% three times, or 1.06x1.06x1.06.

And please post these questions in the question thread, this thread is just for posting rates.

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World Savings Bank has 5.45% APY CD for 4 months. Minimum $10K.

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Pacific Service Credit Union, California, SF Bay Aarea only

7% APY/$5000.00 Max/6Months/New Members Only/$5 Sign up bonus/NCUA/Everything can be done online/ I just had 3 accounts (a total of $15K)/Customer Services are quite friendly

Details : http://www.pacificservice.org/ASP/Products/product_2_3.asp

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SlidingBike said: Pacific Service Credit Union, California, SF Bay Aarea only

7% APY/$5000.00 Max/6Months/New Members Only/$5 Sign up bonus/NCUA/Everything can be done online/ I just had 3 accounts (a total of $15K)/Customer Services are quite friendly

Details : http://www.pacificservice.org/ASP/Products/product_2_3.asp


how do you open 3?? No limit?

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littlestone said: how do you open 3?? No limit?
3 differnet family members

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10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online
or seek it from your local sunday newspaper

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bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online
or seek it from your local sunday newspaper

Which area? Zip Code please . any online URL reference?

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SlidingBike said: bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online
or seek it from your local sunday newspaper

Which area? Zip Code please . any online URL reference?


I second this. link? name of paper?

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SlidingBike said: bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online
or seek it from your local sunday newspaper

Which area? Zip Code please . any online URL reference?


Never mind, found the original ad Here :

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SlidingBike said: SlidingBike said: bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online
or seek it from your local sunday newspaper

Which area? Zip Code please . any online URL reference?


Never mind, found the original ad Here :



You have to open a checking account with them($100 penalty if you close it before the CD matures).

Account cavets/deatils

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bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online or seek it from your local sunday newspaperAccording to BankDeals, it's available at branches and carries a lot of restrictions.

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ThursdaysChild said: bentgames said: 10% APY/$2500.00 Max/6Months/New Members Only or current members not enrolled/ FlagStar /local branch or YMMV online or seek it from your local sunday newspaperAccording to BankDeals, it's available at branches and carries a lot of restrictions.

I have one, do you have any questions?

I had to open a checking account but it was only $50. I'm pulling $49 out next week with GMAC. After that I have automatic $1/month deposits throgh GMAC and it is all cruise control.

DEFINITELY not for you high rollers but considering I was in and out of the bank in under 20 mintes not too shabby of a bonus (~$62 over a 5.38% E-Loan balance).

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I just closed worldsavings CD. The deposit was $10K for 3 months (6.01%APY) and then again renew for 3 months (same 6.01% APY). So effectively I had money deposited for 6 month for $6.01% APY.

But when I got money back its $10,289.xx

Should'nt it be somewhere near $10,300.xx considering 6.01%APY.???

Is there any calculator online which helps us to figure out what we will get before investing in CD?

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In the orignal thread it said to check most recent posts for newest rates, so I guess we just post here? Anyway, heres a 5.75%, 3 or 6 month, with certain restrictions:

AVAILABLE JANUARY, 2007, FOR LIMITED TIME ONLY
$1,000 minimum, $250,000 maximum, New Money Only,
Requires Checking Account and direct deposit
Also available for IRA Certificate at a 3 or 6 month term


5.75%

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nousername said: Should'nt it be somewhere near $10,300.xx considering 6.01%APY.???

No, it should be slightly less than $10,300 because 6.01% APY means leaving the money there for a whole year, resulting in more compounding of interest.

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c3 said: nousername said: Should'nt it be somewhere near $10,300.xx considering 6.01%APY.???

No, it should be slightly less than $10,300 because 6.01% APY means leaving the money there for a whole year, resulting in more compounding of interest.


Suppose your 6 month period is 182 days, see calculation below (thanks to Google), it should be a little less than 10300.

Result is 10295

1.0601 ** (1 / 365) gives you the daily APR. It would be better if you have the exact number.

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SlidingBike said: littlestone said: how do you open 3?? No limit?
3 differnet family members


Hi. I'm interested in this. Was there a membership fee? If so, how much? Did they require any other mandatory accounts to be opened? Such as a direct deposit checking account or savings account? Did you open it online or in branch? Thanks!

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SlidingBike said: Pacific Service Credit Union, California, SF Bay Aarea only

7% APY/$5000.00 Max/6Months/New Members Only/$5 Sign up bonus/NCUA/Everything can be done online/ I just had 3 accounts (a total of $15K)/Customer Services are quite friendly

Details : http://www.pacificservice.org/ASP/Products/product_2_3.asp


Just called. The woman I spoke to mentioned that as long as you're related to someone in CA, even if you live outside the state, you can open an account. Didn't inquire how related you have to be. (Immediate, cousins, etc.)

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NafZ said: SlidingBike said: Pacific Service Credit Union, California, SF Bay Aarea only

7% APY/$5000.00 Max/6Months/New Members Only/$5 Sign up bonus/NCUA/Everything can be done online/ I just had 3 accounts (a total of $15K)/Customer Services are quite friendly

Details : http://www.pacificservice.org/ASP/Products/product_2_3.asp


Just called. The woman I spoke to mentioned that as long as you're related to someone in CA, even if you live outside the state, you can open an account. Didn't inquire how related you have to be. (Immediate, cousins, etc.)



I called and got the standard line, specifically:

Pacific Service CU membership is available to:
Employees and retirees of PG&E Corporation and its domestic subsidiaries , including Pacific Gas and Electric Company (PG&E), PG&E National Energy Group and Pacific Venture Capital, LLC

Immediate family members, including spouse, children, parents, siblings, grandparents, grandchildren, nephews, nieces, cousins and household members of current Pacific Service CU members

Anyone who lives, works, attends school, or worships in Alameda, Contra Costa, Fresno, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, Santa Clara, Solano or Sonoma counties (California)

Employees of businesses, corporations, organizations, associations, or other legal entities currently located in Alameda, Contra Costa, Fresno, Marin, Napa, Placer, Sacramento, San Francisco,
San Mateo, Santa Clara, Solano or Sonoma counties (California)

Employees of our Select Employee Groups (SEGs)

Employees of companies (contractors ) who work regularly for companies served by Pacific Service CU

Employees and employers of public or private energy-based entities located in California or Texas
For more information, please contact a member service representative at (888) 858-6878, ext. 6231.

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lakino said: SlidingBike said: littlestone said: how do you open 3?? No limit?
3 differnet family members


Hi. I'm interested in this. Was there a membership fee? If so, how much? Did they require any other mandatory accounts to be opened? Such as a direct deposit checking account or savings account? Did you open it online or in branch? Thanks!


Membership Fee : -$5 (not a joke, the minus sign is correct, they will give you $5 on sign up)
No Other manditory accounts opened, they will open a Savings account and add their $5 in it for you.
I did open online, signed the printed doc, faxed them, funded the CDwith my bank account number and routing number, they sent the paperwork in the post.

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there's a $100 minimum on the savings acct

SlidingBike said: lakino said: SlidingBike said: littlestone said: how do you open 3?? No limit?
3 differnet family members


Hi. I'm interested in this. Was there a membership fee? If so, how much? Did they require any other mandatory accounts to be opened? Such as a direct deposit checking account or savings account? Did you open it online or in branch? Thanks!


Membership Fee : -$5 (not a joke, the minus sign is correct, they will give you $5 on sign up)
No Other manditory accounts opened, they will open a Savings account and add their $5 in it for you.
I did open online, signed the printed doc, faxed them, funded the CDwith my bank account number and routing number, they sent the paperwork in the post.

rated:
no, there is a $100 minimum to draw *interest* on the savings account, about which we do not care. you only need to have $5 in the account, and they provide the $5. Tho the membership requirements are a lot stricter than originally stated. I went ahead and applied online anyway, if they don't want my money, they'll turn me down.


bk2 said: there's a $100 minimum on the savings acct

SlidingBike said: lakino said: SlidingBike said: littlestone said: how do you open 3?? No limit?
3 differnet family members


Hi. I'm interested in this. Was there a membership fee? If so, how much? Did they require any other mandatory accounts to be opened? Such as a direct deposit checking account or savings account? Did you open it online or in branch? Thanks!


Membership Fee : -$5 (not a joke, the minus sign is correct, they will give you $5 on sign up)
No Other manditory accounts opened, they will open a Savings account and add their $5 in it for you.
I did open online, signed the printed doc, faxed them, funded the CDwith my bank account number and routing number, they sent the paperwork in the post.

rated:
$100 minimum is for 23 and under. You'll need $1000 to draw interest if you're over 23.

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Virtual Bank
Virtual Bank has bumped up 3 month CD to 5.50%. For anyone with their eMoney account this is a very simple CD to open

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Umbrella Bank DOWN

1yr. CD was 5.40; now 5.25
18 mo. CD was 5.25; now 5.10

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Los Angeles Federal Credit Union offering 6 mo CD through 1-31-07 at 6.19 APY (6.0 DR). Check out details on Bankdeal.com. Posted early this week or late last week. Have several branches throughout LA basin as well as you can purchase via mail. Cheers

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Any link?

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DKTVPN said: Any link?

Here you go

$$$$$

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Regarding LAFCU, I posted incorrect site info. You can obtain info at Bankdeals.blogspot.com. I actually opened a CD on Friday. I understand they did not expect this info would get onto the internet and they would have such a response. Apparently very busy at their San Fernando Valley office. Nearest office to me (I'm in Orange Co) was Gardena. Very small office but they got the job done and that's all the matters.

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