6% interest 18 month CD Frontwave Credit Union

TheCrimsonShopper

Feb 4, 2023 6:30 PM

294 Comments

Joined Nov 2010

TheCrimsonShopperFeb 4, 2023 6:30 PM

294 Comments

"Rate subject to change without notice"

28

12

zeroquest

Feb 5, 2023 7:03 AM

227 Comments

Joined Oct 2014

zeroquestFeb 5, 2023 7:03 AM

227 Comments

Quote from Steven10

:

"Rate subject to change without notice"

From my understanding, they can't change a CD's rate once you've funded it. That verbiage would be if they changed it before you signed up, not after.

27

1

AJDemineh

Feb 5, 2023 7:30 AM

2.8K Comments

Joined Nov 2013

AJDeminehFeb 5, 2023 7:30 AM

2.8K Comments

Quote from Steven10

:

"Rate subject to change without notice"

That means they can change it at any time between now and when you actually buy it, meaning the rate could change tomorrow if they wanted to.
Once you've signed up, the rate you see will be what you get.

17

huss797

Feb 5, 2023 2:19 PM

32 Comments

Joined Mar 2010

huss797Feb 5, 2023 2:19 PM

32 Comments

This is good, surprised its not being upvoted, wish I was living in those service areas

2

CoolCarpenter1495

Feb 5, 2023 2:37 PM

1 Comments

Joined Feb 2023

CoolCarpenter1495Feb 5, 2023 2:37 PM

1 Comments

Quote from zeroquest

:

From my understanding, they can't change a CD's rate once you've funded it. That verbiage would be if they changed it before you signed up, not after.

This is correct.

2

94c107ea-869c-45a5-becd-c6b552

Feb 5, 2023 2:46 PM

3.7K Comments

Joined Jul 2019

94c107ea-869c-45a5-becd-c6b552Feb 5, 2023 2:46 PM

3.7K Comments

Live, work or worship in either San Diego, Riverside or San Bernardino counties 🙏

8

1

3ackok

Feb 5, 2023 10:20 PM

418 Comments

Joined Apr 2005

3ackokFeb 5, 2023 10:20 PM

418 Comments

What proof of working in the service area is required?

sillycibin

Feb 5, 2023 11:29 PM

739 Comments

Joined Jun 2006

sillycibinFeb 5, 2023 11:29 PM

739 Comments

wish I could get this for my IRA right now. choppy waters ahead. anyone have suggestions for something similar for a retirement account?

JRJR

Feb 6, 2023 4:17 AM

1.9K Comments

Joined Nov 2009

JRJRFeb 6, 2023 4:17 AM

1.9K Comments

Nowhere near me, I'll have to settle for the Capital One 11 month CD for 5% I guess.

TurtlePerson2

Feb 6, 2023 4:20 AM

2.3K Comments

Joined Nov 2014

TurtlePerson2Feb 6, 2023 4:20 AM

2.3K Comments

Quote from sillycibin

:

wish I could get this for my IRA right now. choppy waters ahead. anyone have suggestions for something similar for a retirement account?

Buy 6 month treasuries. They're almost yielding 5%. For a high earner in California, the avoidance of state tax almost makes treasuries competitive with this 6% CD (irrelevant for Roth).

5

ceasar

Feb 6, 2023 4:53 AM

53 Comments

Joined Oct 2005

ceasarFeb 6, 2023 4:53 AM

53 Comments

Completely different but something else out there...
The composite rate for I bonds issued from November 2022 through April 2023 is 6.89%
A few things of note:
Rate is adjusted every 6 months and tied to rate of inflation.
Cap is $10k/year
Can only be purchased with cash or tax refunds (cannot use in IRA/401k).
Cannot redeem in first 12 months.
Penalty for redeeming before 5 yrs is the last 3 months of interest.

Last edited by ceasar February 5, 2023 at 08:55 PM.

2

BulldogPunch

Feb 6, 2023 4:55 AM

210 Comments

Joined Mar 2021

BulldogPunchFeb 6, 2023 4:55 AM

210 Comments

Get yourself some I bonds from TreasuryDirect.gov. Current rate is 6.89%. Redeemable after 12 months. Maximum of $10k electronic, $5k paper, though.

4

satellite779

Feb 6, 2023 5:04 AM

5.2K Comments

Joined Apr 2013

satellite779Feb 6, 2023 5:04 AM

5.2K Comments

Quote from sillycibin

:

wish I could get this for my IRA right now. choppy waters ahead. anyone have suggestions for something similar for a retirement account?

Buy treasuries at 4.7%

satellite779

Feb 6, 2023 5:05 AM

5.2K Comments

Joined Apr 2013

satellite779Feb 6, 2023 5:05 AM

5.2K Comments

Quote from BulldogPunch

:

Get yourself some I bonds from TreasuryDirect.gov. Current rate is 6.89%. Redeemable after 12 months. Maximum of $10k electronic, $5k paper, though.

Ibonds will probably go way lower for the next 6 months, bringing the average for a year probably to a level of treasuries (4.7%). It's not as good of a deal as last year, especially with the lack of flexibility (no cash out for a year, 3 month penalty before 5 years etc, $10k limit per year etc).

3

6% interest 18 month CD Frontwave Credit Union

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