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Hi @Crash: I checked CD rates with my broker recently and the best I could do on an 18mo CD was 1.75% (monthly pay). With this I put the money into a money market mutual fund. I currently have money in the following mmk funds. They are AMAXX, GOFXX, PCOXX and TTOXX.
I picked up a 9 month CD at Schwab at 1.65% in Dec. Yesterday i bought another 9 mo. at 1.75%. I'm trying not to extend to far out. Maybe CDs are starting to creep up again(?) hopefully. In any case, better than the Schwab MM which I think has drifted down to around 1.5something%.
Two points about the Glendale Schools Credit Union:
It is insured by ASI, a private company, not by NCUA.
"Membership is available to: employees, students and their parents of public, private and parochial schools within the greater Glendale Unified School District and La Cañada Unified School District. "
I don't consider the first a deal killer (I've had money at a CU insured by ASI) but it's a personal risk/benefit decision. The second may present more of a barrier.
It is NCUA insured, and it is fairly easy to join. As one might expect, membership is automatic for many in the military and for those in Washington DC. Others can join by becoming a member of the American Consumer Council ($8 membership fee). The complete list of eligibility options is here.
Casting one's net wider, I still like Series I savings bonds. Though one is limited in the amount one can buy. Current fixed rate is 0.2%. Along with the current inflation adjustment, APY is 2.22%, subject to change every six months.
You cannot redeem for one year, and there's a 3 month interest penalty for getting your money in less than five years. On the other hand, all the interest is tax-deferred and like Treasuries is state tax-exempt.
Laugh for today ! I find an ad to open a savings account. 3% interest !! Do I have your attention ?! First week deposit $1, 2/nd week deposit $2, 3/rd week add $3, etc,etc,etc. I believe it was full page ad & showed what your total would be after a year. I had a good laugh over this one. Derf
Barclays offers competitive rates and it's open to all with no minimums. I was lucky enough to get 2.4% APY on a 12 month back in October before rates fell.
Yes, I did notice that GASCU has switched from being NCUA - insured to ASI. My connection goes back to the 1980s. First wife, and grown son, now. He and I have a joint acct. Thanks for the replies. We've all seen before that Navy FCU offers 3.5%, but the AMOUNT is severely limited. Thanks for the responses.
Comments
- It is insured by ASI, a private company, not by NCUA.
- "Membership is available to: employees, students and their parents of public, private and parochial schools within the greater Glendale Unified School District and La Cañada Unified School District. "
I don't consider the first a deal killer (I've had money at a CU insured by ASI) but it's a personal risk/benefit decision. The second may present more of a barrier.One alternative is Andrews FCU. It has a 17 month CD with APY of 2.25% and a 13 month CD with APY of 2.15%.
https://www.andrewsfcu.org/Learn/Resources/Rates/Share-Certificate-Rates
It is NCUA insured, and it is fairly easy to join. As one might expect, membership is automatic for many in the military and for those in Washington DC. Others can join by becoming a member of the American Consumer Council ($8 membership fee). The complete list of eligibility options is here.
Casting one's net wider, I still like Series I savings bonds. Though one is limited in the amount one can buy. Current fixed rate is 0.2%. Along with the current inflation adjustment, APY is 2.22%, subject to change every six months.
You cannot redeem for one year, and there's a 3 month interest penalty for getting your money in less than five years. On the other hand, all the interest is tax-deferred and like Treasuries is state tax-exempt.
I believe it was full page ad & showed what your total would be after a year.
I had a good laugh over this one.
Derf
https://www.banking.barclaysus.com/online-cds.html