anyway to check the health of SECU on a daily basis? Most of my money is here

Got the 1077-INT from SECU for the bonuses for my 2 accounts ....

Quarterly interest for first 3 months was posted in first week of Jan ..so they will not be taxed until next year

I bumped today, to let everyone know that I received my notices last night, telling me that the CD's would be coming up for maturity / renewal soon (end of April)!!

Time to start planning on how fast I can move the money elsewhere, if I find a competitive rate....

Technologist said:I bumped today, to let everyone know that I received my notices last night, telling me that the CD's would be coming up for maturity / renewal soon (end of April)!!

Time to start planning on how fast I can move the money elsewhere, if I find a competitive rate....
Tech, did the maturity notice mention options on what to do at maturity (renew the CD vs cut a check vs transfer to prime share?)

My tentative plan is to have the CD disburse to the prime share, then initiate two ACH pulls (I'm over $100k) to brokerage accounts to get the money out. But I haven't actually talked to anyone at SECU (ever!) so I'm not completely sure this is possible.

I'd be giving up a couple days' interest, but I don't think it's worth the hassle of opening a money market to disburse into.

markkundinger said:
Tech, did the maturity notice mention options on what to do at maturity (renew the CD vs cut a check vs transfer to prime share?)

I didn't bring my forms to work with me.... although it did mention some options....

I will have to check and post later (or tomorrow).... sorry guys!

EugeneV said:Can't they wire it upon request?
Good point, I don't normally think of wires because I hate paying ANY sort of fees. (looks like it's $10 at SECU).

However, if you have a monster CD ($100k), even at just a 3% opportunity cost, you're talking about over $8 in lost interest per day. So it would definitely be preferable to, say, a cashier's check.

However, I think all of these CDs are going to be maturing within a one or two week window. The little old lady doing wires at SECU might be SLAMMED with wire requests, causing delays.

Has anyone here opened the add-on CD? There was a $10 promotion for opening a $100 12month Add-on CD going on around the same time as the other promotion. I opened my add-on CD little later the 7-months CD's, so it matures in 11/08. Since this CD is paying 5%, I figure I can put the proceeds from the other CD's into this add-on CD and at least collect 5% till nov. At the time I figured these would be nice way to hedge against falling rates, but I didn't expect rates to fall this much.

Anyway, has anyone added funds to one these add-on CD's at SECU? It looks like you can do it online in the account transfers section. If you selected the funds to go to your share savings at maturity of your 7 month CD, you should be able to immediately transfer to an add-on cd after maturity.

beethovengirl said:OAPR said:Has anyone here opened the add-on CD? There was a $10 promotion for opening a $100 12month Add-on CD going on around the same time as the other promotion. I opened my add-on CD little later the 7-months CD's, so it matures in 11/08. Since this CD is paying 5%, I figure I can put the proceeds from the other CD's into this add-on CD and at least collect 5% till nov. At the time I figured these would be nice way to hedge against falling rates, but I didn't expect rates to fall this much.

Anyway, has anyone added funds to one these add-on CD's at SECU? It looks like you can do it online in the account transfers section. If you selected the funds to go to your share savings at maturity of your 7 month CD, you should be able to immediately transfer to an add-on cd after maturity.
According to http://www.secumd.org/html/secu/lower.htm?page=checking.savings_cd:
"Our new 12-month Add-On Savings CD and IRA CD have a low $100 minimum deposit. Plus, you can make additional $25 deposits at any time, so saving is easier than ever."

So you can only add $25 at any given time?

I have added funds to the add-on CD right over the website. Yes, you just select it as the recipient of the xfer. As for the dollar amount, I do not know. I only ever did $25 and $50 as I wanted round numbers. So I believe it is likely a $25 min.

CycloneFW said:mm04 said:Thanks Tech for the bump.

I called inquiring about the procedure to close the CD's at maturity. They are requesting this in writing (fax or mail).

FYI, if you have a Premier Checking Account, outgoing domestic wire transfers are at no cost.

I think you might be mixing up incoming wire xfers (free w/ Premier) & outgoing wire xfers (according to here $10 for Premier ck acct). That said, the $10 fee may be worth it to avoid the lost interest. For me, I can get paid interest on the deposit b4 it is cleared, and thus, will just write myself a check.

I should have known better than to rely on information received from CSR’s. The chart clearly indicates a $10.00 fee for outgoing wire transfers.
I remember receiving misinformation from them over the phone when I initially joined and established these CD’s last year. Thanks Cyclone.

Guys,

Sorry I haven't updated.... got called out on emergency Biz trip.... don't have info with me, maybe someone else can post it?!?