Ahh... PSECU CD Rates - I miss you.

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JSparks
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Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Tue Jan 28, 2020 4:55 pm

I'm looking to set up another jumbo CD. Thanks to the BH community, I was able to get a great rate on a 3 year CD at PSECU a few months ago. :beer PSECU was never mentioned on any of the popular CD rate websites. I only found it mentioned here on this great forum.

But, that rate has come and gone. I would like to do another CD. Any bank suggestions for a great rate for any term?

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indexfundfan
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Re: Ahh... PSECU CD Rates - I miss you.

Post by indexfundfan » Tue Jan 28, 2020 5:16 pm

Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
My signature has been deleted.

nalor511
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Re: Ahh... PSECU CD Rates - I miss you.

Post by nalor511 » Tue Jan 28, 2020 5:21 pm

indexfundfan wrote:
Tue Jan 28, 2020 5:16 pm
Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
This, psecu rate was nothing too special

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Tue Jan 28, 2020 7:20 pm

nalor511 wrote:
Tue Jan 28, 2020 5:21 pm

This, psecu rate was nothing too special
PSECU was 3.25% which was about 1 point higher than any other place I could find at the time... so I'd say it was special.

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Tue Jan 28, 2020 7:20 pm

indexfundfan wrote:
Tue Jan 28, 2020 5:16 pm
Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
Thank you, but I don't meet any of their eligibility requirements.
  • Work at one of our 300+ select employee groups
  • Have a family member who’s a Keesler Federal member
  • Live, work, worship or attend school in Forrest, Pearl River, Harrison or Hancock counties, or select census tracts in Jackson or Hinds counties in Mississippi
  • Live, work, worship or attend school in select census tracts in St. Tammany or Orleans parishes in Louisiana
  • Live, work, worship or attend school in, and businesses and other legal entities located in specified census tracts in Mobile County, AL.
  • Military who can use the services at Keesler Air Force Base or at Royal Air Force Bases in the UK
Last edited by JSparks on Tue Jan 28, 2020 7:32 pm, edited 1 time in total.

SlowMovingInvestor
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Re: Ahh... PSECU CD Rates - I miss you.

Post by SlowMovingInvestor » Tue Jan 28, 2020 7:21 pm

JSparks wrote:
Tue Jan 28, 2020 7:20 pm
nalor511 wrote:
Tue Jan 28, 2020 5:21 pm

This, psecu rate was nothing too special
PSECU was 3.25% which was about 1 point higher than any other place I could find at the time... so I'd say it was special.
And you could auto-add too, which was very nice.

littlebird
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Re: Ahh... PSECU CD Rates - I miss you.

Post by littlebird » Tue Jan 28, 2020 7:35 pm

indexfundfan wrote:
Tue Jan 28, 2020 5:16 pm
Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
Looked at requirements for becoming a member. Unfortunately binge-watching “In the Heat of the Night” doesn’t count.

ThisTimeItsDifferent
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Re: Ahh... PSECU CD Rates - I miss you.

Post by ThisTimeItsDifferent » Tue Jan 28, 2020 9:16 pm

You can join the American Cancer Society Cancer Action Network for eligibility.

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Tue Jan 28, 2020 9:32 pm

ThisTimeItsDifferent wrote:
Tue Jan 28, 2020 9:16 pm
You can join the American Cancer Society Cancer Action Network for eligibility.
Saaaaaweeeet.
If rates don't change tomorrow, I'm in.

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Wed Jan 29, 2020 2:15 pm

Rates did change over night to 2.67% for 30 months. That's not great.

nalor511
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Re: Ahh... PSECU CD Rates - I miss you.

Post by nalor511 » Wed Jan 29, 2020 2:24 pm

JSparks wrote:
Wed Jan 29, 2020 2:15 pm
Rates did change over night to 2.67% for 30 months. That's not great.
Yes that is sad news, I was going to choose them for my next CD

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Wiggums
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Re: Ahh... PSECU CD Rates - I miss you.

Post by Wiggums » Wed Jan 29, 2020 2:25 pm

The Federal Reserve held rates steady on Wednesday, as the sluggish pace of inflation coupled with a strong labor market did little to shift the central bank's outlook on the economy.

The Federal Open Market Committee left its benchmark rate unchanged in the range of 1.5% to 1.75%.

The Fed delivered three rate cuts in 2019, the last in October and policymakers have indicated that rates will remain on hold until there is some significant change in the economic outlook.

shess
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Re: Ahh... PSECU CD Rates - I miss you.

Post by shess » Wed Jan 29, 2020 2:26 pm

indexfundfan wrote:
Tue Jan 28, 2020 5:16 pm
Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
Wow, kinda huge early-withdrawal penalty, if I read it right. You lose 180 days of interest for terms over 1 year, PLUS the interest you earn is lower than then blended interest for the first 2/3 of the total term.

nalor511
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Re: Ahh... PSECU CD Rates - I miss you.

Post by nalor511 » Wed Jan 29, 2020 2:29 pm

shess wrote:
Wed Jan 29, 2020 2:26 pm
indexfundfan wrote:
Tue Jan 28, 2020 5:16 pm
Take a look at Keesler FCU.

https://www.kfcu.org/rates/

30mo @ 3.1%
30mo @ 3.2% if >= $100k
Wow, kinda huge early-withdrawal penalty, if I read it right. You lose 180 days of interest for terms over 1 year, PLUS the interest you earn is lower than then blended interest for the first 2/3 of the total term.
It's moot now, they lowered the rate to 2.67%, which is no longer competitive, regardless of penalties

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Wed Jan 29, 2020 3:45 pm

I just called them and found that I can not become a member of their credit union unless I live is Mississippi or Louisiana. Someone mentioned on another thread there were alternate ways to get membership but that must have changed very recently.

nalor511
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Re: Ahh... PSECU CD Rates - I miss you.

Post by nalor511 » Wed Jan 29, 2020 3:56 pm

JSparks wrote:
Wed Jan 29, 2020 3:45 pm
I just called them and found that I can not become a member of their credit union unless I live is Mississippi or Louisiana. Someone mentioned on another thread there were alternate ways to get membership but that must have changed very recently.
It guides you through it in the online process, they take a $10 donation to cancer action network Mississippi, but the reps are not always knowledgeable. I have a screenshot indicating this, and I'm not in their area. But the rates dropped, so no point really.

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sarabayo
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Re: Ahh... PSECU CD Rates - I miss you.

Post by sarabayo » Wed Jan 29, 2020 4:04 pm

JSparks wrote:
Wed Jan 29, 2020 3:45 pm
I just called them and found that I can not become a member of their credit union unless I live is Mississippi or Louisiana.
I'm curious, what do they gain by limiting membership like this? Is there some kind of benefit to them if all their members are living in Mississippi and Louisiana?

nalor511
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Re: Ahh... PSECU CD Rates - I miss you.

Post by nalor511 » Wed Jan 29, 2020 4:11 pm

sarabayo wrote:
Wed Jan 29, 2020 4:04 pm
JSparks wrote:
Wed Jan 29, 2020 3:45 pm
I just called them and found that I can not become a member of their credit union unless I live is Mississippi or Louisiana.
I'm curious, what do they gain by limiting membership like this? Is there some kind of benefit to them if all their members are living in Mississippi and Louisiana?
Here's an article https://www.cumanagement.com/articles/2 ... -expansion

"On the federal level, field of membership regulations have long been a legal and political battleground. As the accompanying timeline shows, the National Credit Union Administration’s authority to change FOM standards has been repeatedly challenged by the banking industry over three decades. "

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JSparks
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Re: Ahh... PSECU CD Rates - I miss you.

Post by JSparks » Thu Jan 30, 2020 5:07 pm

nalor511 wrote:
Wed Jan 29, 2020 3:56 pm
JSparks wrote:
Wed Jan 29, 2020 3:45 pm
I just called them and found that I can not become a member of their credit union unless I live is Mississippi or Louisiana. Someone mentioned on another thread there were alternate ways to get membership but that must have changed very recently.
It guides you through it in the online process, they take a $10 donation to cancer action network Mississippi, but the reps are not always knowledgeable. I have a screenshot indicating this, and I'm not in their area. But the rates dropped, so no point really.
I checked again today on their site and by calling them. You can join by making a donation to the cancer organization, but only if you are a resident of Louisiana or Mississippi. And that is true of all their means of gaining membership - you must reside in either of those two states. :(

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