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popular Posted by eugenem • Feb 4, 2023
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popular Posted by eugenem • Feb 4, 2023

6% interest 18 month CD Frontwave Credit Union

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For those lucky enough to live in their service area the Frontwave CU is offering an 18 month CD at 6% interest.

https://www.frontwavecu.com/Resou...osit-Rates

QA note: Eligibility Requirements - Live, work or worship in either San Diego, Riverside or San Bernardino counties. Or be an immediate family member of a current Frontwave Credit Union member.
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About the Poster
For those lucky enough to live in their service area the Frontwave CU is offering an 18 month CD at 6% interest.

https://www.frontwavecu.com/Resou...osit-Rates

QA note: Eligibility Requirements - Live, work or worship in either San Diego, Riverside or San Bernardino counties. Or be an immediate family member of a current Frontwave Credit Union member.

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45 Comments

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Feb 4, 2023
294 Posts
Joined Nov 2010
Feb 4, 2023
TheCrimsonShopper
Feb 4, 2023
294 Posts
"Rate subject to change without notice"
12
Feb 5, 2023
217 Posts
Joined Oct 2014
Feb 5, 2023
zeroquest
Feb 5, 2023
217 Posts
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.
1
Feb 5, 2023
2,800 Posts
Joined Nov 2013
Feb 5, 2023
AJDemineh
Feb 5, 2023
2,800 Posts
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.
Feb 5, 2023
32 Posts
Joined Mar 2010
Feb 5, 2023
huss797
Feb 5, 2023
32 Posts
This is good, surprised its not being upvoted, wish I was living in those service areas
Feb 5, 2023
1 Posts
Joined Feb 2023
Feb 5, 2023
CoolCarpenter1495
Feb 5, 2023
1 Posts
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.
Feb 5, 2023
3,694 Posts
Joined Jul 2019
Feb 5, 2023
94c107ea-869c-45a5-becd-c6b552
Feb 5, 2023
3,694 Posts
Live, work or worship in either San Diego, Riverside or San Bernardino counties 🙏
1
Feb 5, 2023
340 Posts
Joined Apr 2005
Feb 5, 2023
3ackok
Feb 5, 2023
340 Posts
What proof of working in the service area is required?

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Feb 5, 2023
691 Posts
Joined Jun 2006
Feb 5, 2023
sillycibin
Feb 5, 2023
691 Posts
wish I could get this for my IRA right now. choppy waters ahead. anyone have suggestions for something similar for a retirement account?
Feb 6, 2023
1,892 Posts
Joined Nov 2009
Feb 6, 2023
JRJR
Feb 6, 2023
1,892 Posts
Nowhere near me, I'll have to settle for the Capital One 11 month CD for 5% I guess.
Feb 6, 2023
2,174 Posts
Joined Nov 2014
Feb 6, 2023
TurtlePerson2
Feb 6, 2023
2,174 Posts
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).
Feb 6, 2023
51 Posts
Joined Oct 2005
Feb 6, 2023
ceasar
Feb 6, 2023
51 Posts
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.
Feb 6, 2023
202 Posts
Joined Mar 2021
Feb 6, 2023
BulldogPunch
Feb 6, 2023
202 Posts
Get yourself some I bonds from TreasuryDirect.gov. Current rate is 6.89%. Redeemable after 12 months. Maximum of $10k electronic, $5k paper, though.
Feb 6, 2023
5,049 Posts
Joined Apr 2013
Feb 6, 2023
satellite779
Feb 6, 2023
5,049 Posts
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%
Feb 6, 2023
5,049 Posts
Joined Apr 2013
Feb 6, 2023
satellite779
Feb 6, 2023
5,049 Posts
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).

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Feb 6, 2023
138 Posts
Joined Jul 2015

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