Freedom Credit Union 30 Month 3.56%APY CD (Closed))

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pc95
Posts: 183
Joined: Sat Sep 17, 2011 9:26 pm

Freedom Credit Union 30 Month 3.56%APY CD (Closed))

Post by pc95 » Sun Aug 12, 2018 6:02 pm

https://www.freedomcu.org/home/cd-promotion.html

Notification from www.depositaccounts.com .

edit----> The offer reportedly closed 8/16/2018
Last edited by pc95 on Thu Aug 16, 2018 7:51 pm, edited 1 time in total.

denovo
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Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by denovo » Sun Aug 12, 2018 6:10 pm

2.5 years is certainly a long period for a CD. I guess they are gambling rates go up a lot.
"Don't trust everything you read on the Internet"- Abraham Lincoln

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aspirit
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Location: Bos/Mia-south

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by aspirit » Sun Aug 12, 2018 6:11 pm

Thx! :D
Time & tides wait for no one. A man has to know his limitations.

pc95
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Joined: Sat Sep 17, 2011 9:26 pm

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by pc95 » Sun Aug 12, 2018 6:34 pm

I'm holdin' out for 4%....hoping by the end of the year they'll be fairly close.

grkmec
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Joined: Wed Jun 22, 2016 8:46 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by grkmec » Sun Aug 12, 2018 7:28 pm

Do you know when this promo runs until ? I have T-bills maturing in early September.

pc95
Posts: 183
Joined: Sat Sep 17, 2011 9:26 pm

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by pc95 » Sun Aug 12, 2018 8:01 pm

Nope....here's a 5 year similar rate at a different credit union, in case:

https://www.ussfcu.org/personal/savings ... cates.html

So you have 2 credit union.s to choose from....you should be ok for September.

SpaceCowboy
Posts: 869
Joined: Sun Aug 12, 2012 12:35 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by SpaceCowboy » Mon Aug 13, 2018 12:56 am

This promo will not last until September. Deals like this are usually only open for a couple of weeks.
The only recent 4% CD that I know of was the Sharonview 4% 5 year CD deal earlier this year, maybe around March. I bought that one.
I'm also in the process of investing in this deal. I think 3.56% is an excellent rate for 30 months. Certainly better than the current treasury rate and this is the highest rate nationally for a under 3 year CD.

nalor511
Posts: 219
Joined: Mon Jul 27, 2015 1:00 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by nalor511 » Mon Aug 13, 2018 5:38 am

Looks like 6 month early withdrawal penalty?

Early Withdrawal Penalty. We may impose a
penalty if you withdraw any of your principal
before the maturity date. The amount of the
penalty will not exceed dividends earned through
the date of withdrawal.
Amount of Penalty
Term Penalty
6 months 90 days of dividends
12 to 36 months 180 days of dividends
48 to 60 months 360 days of dividends
In accordance with Federal Reserve
Regulation D, withdrawals made within the
first six days of a new certificate purchase
are subject to a seven day, early withdrawal
dividend penalty.

SpaceCowboy
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Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by SpaceCowboy » Thu Aug 16, 2018 2:45 pm

CD promotion ended today. No new promo CDs are being opened.

Mitchell777
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Joined: Mon May 21, 2007 6:32 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by Mitchell777 » Thu Aug 16, 2018 6:19 pm

Were they accepting money from out of state? I'm familiar with CU's in this area of PA and they usually require you live, work, or attend school or church in their counties. Although they rarely ask if you show up in person.

SpaceCowboy
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Joined: Sun Aug 12, 2012 12:35 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by SpaceCowboy » Thu Aug 16, 2018 6:33 pm

There was a nationwide loophole through the American Consumers Council.
They intended it to be for residents of a set number of states, and were overwhelmed by the nationwide response because it was so above market. Think it lasted about 10 days.

mur44
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Joined: Tue Feb 27, 2007 9:30 am

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by mur44 » Thu Aug 16, 2018 7:26 pm

When I called today CSR told me Freedom CU just terminated their special CD
offer effective today.

The good offers are open usually for a short period.

MikeG62
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Location: New Jersey

Re: Freedom Credit Union 30 Month 3.56%APY CD

Post by MikeG62 » Fri Aug 17, 2018 8:54 am

mur44 wrote:
Thu Aug 16, 2018 7:26 pm
When I called today CSR told me Freedom CU just terminated their special CD
offer effective today.

The good offers are open usually for a short period.
These deals often seem to only be open for a very short period of time. By the time you get the funds transferred in you may miss the window. A lot of hustling around to "try" and take advantage of the rate. Even if you get it, you end up with money sprinkled around all over the place. Just not sure it's worth all the effort.
Real Knowledge Comes Only From Experience

pc95
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Joined: Sat Sep 17, 2011 9:26 pm

Re: Freedom Credit Union 30 Month 3.56%APY CD (Closed))

Post by pc95 » Fri Aug 17, 2018 9:56 am

If you're a CD-monger, I think its worth it. Depending the amount your'e investing, the difference could be worth 1000s, 10s of 1000s, or more. I think its a bit better to be invested in different banks to protect with FDIC limits.

Mitchell777
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Joined: Mon May 21, 2007 6:32 am

Re: Freedom Credit Union 30 Month 3.56%APY CD (Closed))

Post by Mitchell777 » Fri Aug 17, 2018 10:04 am

For me, it depends on the amount I have to invest. In this case, the incremental interest, per year, was a bit over $1K vs. similar investments in terms of time and risk. I did have to quickly move around some money and drive 1.5 hours to get there to set it up in person. It was worth it in this case for me.

grkmec
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Joined: Wed Jun 22, 2016 8:46 am

Re: Freedom Credit Union 30 Month 3.56%APY CD (Closed))

Post by grkmec » Fri Aug 17, 2018 1:27 pm

Sadly I missed this... what's the best best CD deal ?

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