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.

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.

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

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!

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!

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.

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

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

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?

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 :