Andrews Federal Credit Union, Black Friday Sale, Share Certificate 3.01% for 3 Months. Minimum opening balance is $1000. Easy membership. Good through Nov 30, 2016. I applied 11/13 and finalized my application 11/16. I received my acct # and opened my online acct the same day. This is short term but worth the effort!
(2) 3.01% APY (Annual Percentage Yield) is a special rate offered on a 3 Month Share Certificate for a limited time. APY will remain in effect for the term of the share certificate but may change each time the share certificate is renewed. Rates offered are subject to change at any time. Penalties apply for early withdrawal; fees may reduce earnings on the account. Dividends are compounded and credited quarterly. Minimum opening balance is $1000; minimum balance to earn dividends is $1000. Must be a member of Andrews Federal Credit Union to obtain any deposit product. Offer not available online; must visit an Andrews branch location or speak with an Andrews telephone representative to open share certificate account.
fwuser12 said: tennis8363 said: Too bad it isn't for a longer term. Just not worth it for 3-months. Same rate is available for 84-month CD. How is that for longer term! https://www.andrewsfcu.org/whats-new/promotions.html ETA: They also have 18-month CD at 1.81% APY Not available online. That sort of kills the deal for 98% of the country. " Offer not available online; must visit an Andrews branch location or speak with an Andrews telephone representative to open share certificate account. "
tennis8363 said: Not available online. That sort of kills the deal for 98% of the country. " Offer not available online; must visit an Andrews branch location or speak with an Andrews telephone representative to open share certificate account. " You have the phone option which is available throughout the country. Agree, it does mean extra time/effort than a simple online application but doe not kill the deal.
If you check real closely, you can do an online application. Do the Membership Application and they will then e-mail a copy of that app & have you sign a signature card. In my case I faxed those forms back that same day. The next day I was e-mailed security questions & by the 4th day I received my Acct #. I have to say, everything moved correctly & quickly for me. Today I started my ACH with Alliant CU (small deposits). Since that will probably show 11/18 & I will ACH funds into the savings by 11/21. Hopefully I will be able to transfer those funds from savings to open the 3Mo 3.01% CD.
Call me a hater, but let's assume I throw $10k at one of these, that's only a $75 payoff. Sure, compared to a 0% savings I suppose it's better than nothing, but I'm not running to their website for $75 in taxable interest.
mwa423 said: Call me a hater, but let's assume I throw $10k at one of these, that's only a $75 payoff. Sure, compared to a 0% savings I suppose it's better than nothing, but I'm not running to their website for $75 in taxable interest.
Think bigger. Throw in $100k and you can make $750 easy with no risk.
vnuts21 said: Is there a hard pull for opening an account? What's the maximum deposit? I had a TransUnion hard pull when opening a new membership, but that may be because I also requested a checking account.
fw9999 said: Andrews CSR told me today that at least the 84-month 3.01% CD is being extended through 12/31/16. (I didn't ask about the 3-month.) I hope this one last longer. I have a very large CD that matures in mid January. Right now I'm just placing what I have in the 3Mo 3.01%.
pattyB said: fw9999 said: Andrews CSR told me today that at least the 84-month 3.01% CD is being extended through 12/31/16. (I didn't ask about the 3-month.) I hope this one last longer. I have a very large CD that matures in mid January. Right now I'm just placing what I have in the 3Mo 3.01%. Your post got me to thinkin'. Years ago, when rates were falling quickly, I had a similar situation. Had a CD near to maturity. Was concerned by the time it finally matured CD rates would be even lower. So I borrowed a LOT of money very short term (weeks) and used it, together with money I already had available, to open the CD I wanted. Bottom line:
It worked out. Luck was involved, of course: rates could have turned around and headed higher. But they did not. I used money from the maturing CD to pay off my loan, and pocketed the CD I had purchased at a higher interest rate.
In my opinion, things today are the opposite of all that. Rates are headed higher, not lower. I would not today pull the same "borrow and invest" stunt I did years ago. Course, again, it is all luck. Nobody knows for certain the direction of interest rates. But if rates are indeed ascending, having a little dry powder at hand is not such a nettlesome thing.
avalon6 said: mwa423 said: Call me a hater, but let's assume I throw $10k at one of these, that's only a $75 payoff. Sure, compared to a 0% savings I suppose it's better than nothing, but I'm not running to their website for $75 in taxable interest.
Think bigger. Throw in $100k and you can make $750 easy with no risk. Wish I had a larger batch of cash right now. But I have a few large CD's that mature in 2017, so perhaps something like this will come along later.
iLoveTahoe said: Is anyone else getting error messages when trying to upload .PDF files (Driver's License, Utility Bill, etc.) during the membership process?
Every time I try to upload a file I get the following error message... PDF IS NOT VALID AND CANNOT BE PROCESSED.
I know for a fact that the files I'm trying to upload are fine, because I've uploaded them to other sites with no problem at all. I had the same problem when I tried. So, I faxed the DL, Utility bill, etc. Goes easily & quickly. (ATTN, Online Application, Andrews FCU, (301)702 5334)
mooingmooseman said: any one notice there is a 6 month CD at 3% now? Not at the location we are talking about. Its a grand opening event at a branch . not open to everybody nation DepositAccounts.com for the info.
castaline said: mooingmooseman said: any one notice there is a 6 month CD at 3% now? Not at the location we are talking about. Its a grand opening event at a branch . not open to everybody nation DepositAccounts.com for the info.
I'm not addressing your post, or commenting on it, directly. But I can offer an observation possibly related (or not) to what you wrote:
The relationship between Andrews HQ and the various Andrews branches in not entirely straightforward. I would offer this counsel, which is based on personal experience:
In order to learn what opportunities for good deals exist at the various Andrews branches, you must telephone the branch and speak with a person there. My suggestion is to speak with the branch manager, however I also found lower level branch employees to be friendly, helpful, and knowledgable.
Should you discover opportunity for profit there, or even if you merely feel more comfortable dealing at the branch level, doing so is easy through use of the USPS. Finally, even if you pursue a relationship with Andrews at the branch level, you will still find Andrews HQ denizens more than willing to assist you when you call the HQ number.
mooingmooseman said: i applied yesterday but i don't think i'll be able to make the cutoff...
they still have not approved, and even after they approve i would need to fund the account
Do not despair. You still might make it. But even if not, do what I did:
I applied for an Andrews membership weeks prior to this deal becoming known. Did it because it is a good membership to have in reserve. Andrews is known for offering special deals from time to time. It is best already to be a member when that happens.
I hope you do not. But even if you fall short and run out of time this go-round, hang onto your membership and take care of it. Then you will be well positioned when the next great Andrews deal comes along. And it will.
pattyB said: shinobi1 said: MrNovember said: I've decided to go for this. Probably will do the 84 month CD, considering the penalty is pretty benign. I'm going to break open some Ally CDs for this. If I join the American Consumer Council tonight and start to get the ball rolling, will I make it by Dec 31?
Not if you do stuff using snail mail. You might make it, but you're gonna be close.
Here is my best council, based on personal experience:
Join. Just join. Try your best. If you get the CD you do and if not, then you do not. But Andrews is one of those "must join" situations, similar to Navy Federal and several others. You need to join anyway, so go for it. I had joined Andrews a month or two before this special. All I had was a savings account, linked via ACH at Alliant, all set up. When the special came onto the scene, I was good to go, able to move very fast, because I was already a member.
In the instance of certain credit unions there is a "wrong" time to join. It's when they announce a special. I've done that but grew tired of the fire drills. Join now and, at the least, you'll be all set for the next Andrews special. And who knows, you might get lucky this time, too. For example, when I joined Navy Federal I got in on the very last day of one of their specials. Some weeks later they announced still another special, an even better one, and I was able to jump instantly because I was already a member. I enjoyed the second experience more because there was less drama. I was looking back at this site because my 3Mo 3.01% CD matures tomorrow. I only had $26K to invest so there is not much gain. ;( But, I was just wondering about your statement here, about JUST JOIN. How do you find out about good places to join ahead of time?
Gosh, pattyB, you probably know as much or more about that than I do. I use mostly Ken's blog and I'm betting you do the same.
Other thing is by region. DC region has been hot for a long while. Transportation FCU is a case in point and recent example. But there are any number of others not too distant from our nation's capital. That's where the money is. Iowa is a good region, but entry there can be problematic. Other opportunities pop up unpredictably (e.g., INOVA).
Anyway, with this stuff past offerings can provide a guide . . . . to the extent a guide exists at all. But offering history does have a tendency to repeat itself. Course nothing is for certain. I'm still waiting for Atlanta to heat up again, for example, and I have been waiting a LONG time. Ditto FL. We can only take our best shots and do the best we can. Even if you only pick ten or twenty percent winners, there is serious money to be made.
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