Expired - SECU (Maryland) 7-month CD with an effective yield of approx. 9.36%

craig10x said: now that the cd deal is no longer available, things sure have quieted down on this thread quite a bit...lol I missed the deal myself, but applied for membership and to set set up the share and checking accts now (which will get me the $100 bonus in the meantime), and be ready to quickly move if they offer another deal next year....(i sure hope so)....

I was curious if anyone is actually using them for banking purposes...looks like a pretty nice CU, though of course you don't get much interest on the normal accounts....Those that do actual "banking" with them, how do you like them? And if you do like them, what aspects about them that you like?

Well you could do their add-on CD and get a $10 bonus for $100 CD (10%) on top of the 4.9% it pays, as long as you've opened your accounts and plan to make a $100 direct deposit anyways. Not much, but then you could add to the CD later if 4.9 becomes competitive. No problems linking share and checking accounts through Fidelity and GMAC, SECU doesn't have their own online ACH. Billpay is not quite as nice as check-free interfaces. I would expect it to be a decent place for day-to-day banking if it was local.

people who got in on this must have such a wide s*^t-eating grin today...

i believe he's referring to this.

ETFnerd said: people who got in on this must have such a wide s*^t-eating grin today...

ETFnerd said: people who got in on this must have such a wide s*^t-eating grin today...
Why would someone smile when they eat sh!t?

YOU BET!!

Best investment I have made in "many a moon". I pulled all the money I could get my hands on, at the time, $118K. Almost broke me.

Now I'm working to build up my cash again and I need a good place to put my liquid funds into when BoA ends their 60 day bonus rate. I'm sure the rate will take another drop this Friday.

Any good ideas?

Sorry, pattyb53, your were obviously talking about BoA, not FOMC. Please disregard that comment. Thanks!

Anyone know when SECU makes interest payments on this CD? My share account got an interest payment, but nothing has reported on my 200k cd yet. Anyone get paid interest today to the account?

MikeR397 said: Anyone know when SECU makes interest payments on this CD? My share account got an interest payment, but nothing has reported on my 200k cd yet. Anyone get paid interest today to the account?
IIRC, compounded and paid quarterly, except for the extra month, which would be pro-rated (if that's the correct term).

mm04 said: Can anyone confirm that your checking account number is visible on your online statement?It does. 11174xxxx

Has anyone received the $50 + $50 bonus related to funding checking account ... DD + 2 active BillPays + Online Statements ???

The terms say something like "Payroll deduction and Direct Deposit of tax refunds do not qualify."

What's up with that? I am having HR rout $$$ to SECu just to qualify for the bonus but after reading the prior highlighted portion, I am now wondering whether PayPal is the better option.

Also, "payroll deductions" may have a special meaning for SECU. There is a very good chance that some of their employers (like, the state), might send a file directly to SECU for people who just want a portion of their paycheck (like $50) to the CU, while the rest of the money is direct deposited via ACH.

jackcrawfish said: Has anyone received the $50 + $50 bonus related to funding checking account ... DD + 2 active BillPays + Online Statements ???

The way I read the terms, the first possible date where these bonuses should be paid is 11/30/07.

from SECU's offer said: -Offer effective from 9/29/2007 through 11/30/2007...

-These cash rewards will be deposited to the new checking account on the last day of the month in the months of November 2007 through January 2008...

According to SECU's CSR's, "payroll deduction" is where you instruct your employer to direct deposit your paycheck to your SECU savings(or some other SECU account), but instruct SECU to automatically divert some of each payment to your checking.

jackcrawfish said: Has anyone received the $50 + $50 bonus related to funding checking account ... DD + 2 active BillPays + Online Statements ???

The terms say something like "Payroll deduction and Direct Deposit of tax refunds do not qualify."

What's up with that? I am having HR rout $$$ to SECu just to qualify for the bonus but after reading the prior highlighted portion, I am now wondering whether PayPal is the better option.

I opened account on 9/28 and got 50+50 bonus posted on 10/31. I did make total $140 DD (two times in a month) and online 1 bill CC partial payment. But I regret that I could not open 7-month CD 'cause could not move money out from FNBO on time. Deal was dead so quick. I only could get in 9.5k CD opened, not much bonus I got.

Technologist said: Done!

Created a membership. Opened my share savings and checking. Set-up direct deposit (minimum $100), and will do at least one bill-pay every 60 days. That equals a $100.00 BONUS!

Was "upsold" on another promo.... have 9 services, get a $75 bonus... hmmmmmm, Checking, savings, ATM, direct deposit, and 5 of the SPECIAL CDS!!! Doing multiple CDS gives 2 benefits... got the $75 bonus, PLUS, if for some reason, I need MONEY, I can break 1 SMALLER CD (and pay the interest penalty on that one ONLY), leaving the other CDs intact!

Man, the 1099-div is gonna be HUGE from SECU this year!!!

Thanks again OP!

Quoting myself, so that I can point out that I received the $75 bonus on 10/31 (listed on SECU SAVINGS statement as "Deposit Dividend# - Relationship Dividend $75.00") and also received the $50 bonus on 11/08 (listed on SUCU CHECKING as "Deposit Dividend# - $50/$50 Checking Promotion Direct Deposit Credit $50.00").

Still waiting on the last $50 bonus (for online statements and BillPay).

Terms for the bonuses can still be found here:

http://www.secumd.org/givingthanks/secu_checking.cfm

lhendricks92 said: ...I might even open an account now and see if I can automatically dump my CDs into this account upon maturity.
You can definitely transfer the balance of your CDs to the Advantage MMA, or any other SECU account, at maturity. But if you decide to open the account now, remember that NO interest will be earned if the balance in the Advantage MMA falls below 25K.

Dear 2steps,

Thank you for registering for a class at the Community College of Baltimore County. We are doing a survey of all of our out of state students. Could you please verify the following address as yours and give a brief description on why you chose the Community College of Baltimore County for your continuing education needs.

jairocon said: markkundinger said: So, I was doing some testing on ACH links to the prime share account at SECU. Planning ahead on how to get the money out when the CD matures.

As has already been mentioned, the standing instructions with SECU are to simply use SECU's routing number, and your regular member/account number.

However, with Fidelity, they only set up links to "checking" accounts. When this option is set, attempts to use either the SECU account number or the account number + share suffix fail.

With Schwab, I can set the account type to "savings", and then the link works fine with the standard instructions. (I've done deposits and withdrawals initiated through Schwab).

In conclusion, it seems that if you want to ACH to the prime share, it's vitally important that you set the account type to "savings".Eh - I should have checked this thread. So on tuesday I realized, that I should open up the add-on cd w/ $100 just to have a safety net for the future in this falling rate environment. I have previously setup my SECU share savings in Fidelity and it was showing as active. So I pushed $100 on tuesday. Today I got an email from Fidelity saying that the transfer failed and SECU is now listed as inactive. And since I have no other bank->secu links setup, I'm gonna miss tomorrow's deadline. Oh well - I should have thought of it sooner.

If you can find a shared service center credit union around you, you can make the deposit it there. Or you can wire into the SECU acct. The premier checking has no incoming wire fee.

Will they do like the other promos and honor postmarks? If they do, you can mail in the cd app and check.

"Forgot about this for a while I logged in today and saw the $50/$50 posted on 11/30;"

However, I used payroll dd.

SECU is not a member a CU Swirl (shared branch services), so one could not make a deposit at one of those for SECU....In order to use one of those, your CU must participate also....