Andrews FCU 7 month CD 5% APY

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protagonist
Posts: 7966
Joined: Sun Dec 26, 2010 12:47 pm

Andrews FCU 7 month CD 5% APY

Post by protagonist »

New money only. https://www.andrewsfcu.org/Learn/Resour ... cate-Rates
It was easy to join Andrews 7 months ago....apparently you can still join by joining the American Consumer Council. Instructions here: https://www.andrewsfcu.org/Learn/Resour ... cate-Rates
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Kevin M
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Re: Andrews FCU 7 month CD 5% APY

Post by Kevin M »

Also, capped at $100K.

Would be nice if they offered this for existing money in IRA CDs, in which case I'd break my 3% Andrews IRA CDs to buy the 5%.

For taxable accounts, Treasuries are likely to have comparable or higher taxable-equivalent yields (TEYs) for those who pay high state income tax rates like I do in CA.

Kevin
If I make a calculation error, #Cruncher probably will let me know.
aqan
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Joined: Fri Nov 06, 2015 7:07 am

Re: Andrews FCU 7 month CD 5% APY

Post by aqan »

Good luck moving money into AFCU. Their daily limit is 5k and my bank has a low limit as well. Ended up buying a 9 month brokered CD at 4.75%. Not too shabby.
patrick
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Joined: Fri Sep 04, 2009 3:39 am
Location: Mega-City One

Re: Andrews FCU 7 month CD 5% APY

Post by patrick »

If you want something a bit longer, SkyOne has 22-month CDs at 5%.
Topic Author
protagonist
Posts: 7966
Joined: Sun Dec 26, 2010 12:47 pm

Re: Andrews FCU 7 month CD 5% APY

Post by protagonist »

Kevin M wrote: Mon Nov 21, 2022 8:50 pm Also, capped at $100K.

Would be nice if they offered this for existing money in IRA CDs, in which case I'd break my 3% Andrews IRA CDs to buy the 5%.

For taxable accounts, Treasuries are likely to have comparable or higher taxable-equivalent yields (TEYs) for those who pay high state income tax rates like I do in CA.

Kevin
Theoretically you could take the money out and reinvest I suppose.
It's not really worth the trouble to me, but others might think differently, especially if their CD was in a taxable account and they are in a low tax bracket.
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krafty81
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Location: San Diego, CA

Re: Andrews FCU 7 month CD 5% APY

Post by krafty81 »

Did a CD with them a few years ago. Their customer service was the WORST I have encountered. Pre covid even. Took a BBB complaint to get them to return my calls.
nalor511
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Joined: Mon Jul 27, 2015 1:00 am

Re: Andrews FCU 7 month CD 5% APY

Post by nalor511 »

krafty81 wrote: Thu Nov 24, 2022 1:44 pm Did a CD with them a few years ago. Their customer service was the WORST I have encountered. Pre covid even. Took a BBB complaint to get them to return my calls.
They have live chat now, completely different ballgame. I don't know your situation, but I've had nothing but great support over live chat. I just closed 8 accounts and it's the easiest CD closure I've ever had. Cheers
tunafish
Posts: 422
Joined: Mon Apr 26, 2021 9:47 am

Re: Andrews FCU 7 month CD 5% APY

Post by tunafish »

At least some of the credit unions in my area are waiving things like new money requirements. They really are trying to stem the outflow of money due to comparatively low interest rates, although they are increasing the rates as well. One is up to 4%.
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