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expiredswami.ganapathi posted Oct 04, 2023 02:56 AM
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expiredswami.ganapathi posted Oct 04, 2023 02:56 AM

Truliant Federal Credit Union: 11-Month Certificate of Deposit (CD)

w/ $5000 Min. Deposit (Valid in NC, SC, VA, GA, TN)

6.25% APY

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Deal Details
Truliant Federal Credit Union is offering 11-Month Certificate of Deposit (CD) at 6.25% APY with $5000 Minimum Deposit.

Thanks to community member swami.ganapathi for sharing this deal.

Note, to join this credit union you must live, work, worship or attend school in a county near one of its branches (located in the following states: NC, SC, VA, GA, TN). You may also work for one of its business partners (listed when you apply for membership).

Editor's Notes

Written by qwikwit | Staff
  • Offer Terms:
    • Limited-time offer. Penalty for early withdrawal. Special requires a minimum deposit of $5,000 and entire balance must come from funds not currently on deposit at Truliant. Funds will roll over into a 12-month regular certificate upon maturity. Not available for business certificates.

Original Post

Written by swami.ganapathi
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Truliant Federal Credit Union is offering 11-Month Certificate of Deposit (CD) at 6.25% APY with $5000 Minimum Deposit.

Thanks to community member swami.ganapathi for sharing this deal.

Note, to join this credit union you must live, work, worship or attend school in a county near one of its branches (located in the following states: NC, SC, VA, GA, TN). You may also work for one of its business partners (listed when you apply for membership).

Editor's Notes

Written by qwikwit | Staff
  • Offer Terms:
    • Limited-time offer. Penalty for early withdrawal. Special requires a minimum deposit of $5,000 and entire balance must come from funds not currently on deposit at Truliant. Funds will roll over into a 12-month regular certificate upon maturity. Not available for business certificates.

Original Post

Written by swami.ganapathi

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Top Comments

GMY
461 Posts
141 Reputation
There are four ways you can be eligible to become a member at Truliant:

Live, work, worship or attend school in a county near one of our branches
Work for one of our business partners
Have an immediate family or household member who is currently a member of Truliant
Join through the American Consumer Council if you live in GA, NC, SC, TN or VA
AndrewinMD
4735 Posts
861 Reputation
You could say that about Costco, Meijer, Microcenter, or many regional stores.
MrWonton
9 Posts
10 Reputation
But credit unions are insured up to the same dollar limits as banks by the National Credit Union Share Insurance Fund (NCUSIF) which is basically identical to FDIC insurance and backed by the full faith and credit of the US government.

There is no risk of loss putting money up to the $250k insured limit in a credit union.

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Oct 05, 2023 02:17 AM
285 Posts
Joined Sep 2016
iLoveCerealOct 05, 2023 02:17 AM
285 Posts

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Quote from boosterjm :
How about I bonds?
The time to buy was over a year ago, when the rates were pretty darn high. They've fallen now and will continue to do so. The recommendation by some is to keep the ibond 3 months into a bad rate, then sell, as you get penalized the last 3 months if you sell before 5 years. Note: You must hold for a minimum of 12 months.

Those folks then invest into a high interest CD, having substituted the ibond for a guaranteed rate.
1
Oct 05, 2023 02:23 AM
3,815 Posts
Joined Aug 2005
labboyproOct 05, 2023 02:23 AM
3,815 Posts
Quote from iLoveCereal :
Those folks then invest into a high interest CD, having substituted the ibond for a guaranteed rate.
Or T-bills.
Oct 05, 2023 02:24 AM
11,148 Posts
Joined Dec 2007
boosterjmOct 05, 2023 02:24 AM
11,148 Posts
Quote from ss115891 :
Anything for Texas residents? Any good CD for TX?
You can sign up for this CD even if you are TX resident.
4
Oct 05, 2023 02:29 AM
285 Posts
Joined Sep 2016
iLoveCerealOct 05, 2023 02:29 AM
285 Posts
Quote from TekkenLord :
Let's say you have 10 grands with your current bank and move 5000 grands to earn $325. Would it be wise to lock in 5K? Should you need this 5k before the maturity?
if you have any doubts at all, then stick with something shorter term or go with a liquid account, such as a high interest savings account or a money market account.

Short term T-Bills, while not as high in interest as this CD, are a good option still, too, particularly due to tax benefits. They can also still be liquidated if necessary, but it's not as quick as just withdrawing money from the above.
Last edited by iLoveCereal October 4, 2023 at 08:31 PM.
Oct 05, 2023 02:41 AM
124 Posts
Joined Oct 2008
ike33Oct 05, 2023 02:41 AM
124 Posts
Quote from boosterjm :
You can sign up for this CD even if you are TX resident.
No you can't, membership eligibility is limited to residents of NC, SC, VA, GA, and TN. Title of this post needs to be edited to reflect this.
1
Pro
Oct 05, 2023 03:35 AM
2,379 Posts
Joined Oct 2010
mavalpha
Pro
Oct 05, 2023 03:35 AM
2,379 Posts
Quote from catman17 :
How is this a slick deal if only a few people can get it? 🤔🤔
Do you automatically downvote any YMMV deal? Or in-store clearances?
5
Oct 05, 2023 04:02 AM
36 Posts
Joined Nov 2014
MonopoliOct 05, 2023 04:02 AM
36 Posts

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Quote from ss115891 :
Anything for Texas residents? Any good CD for TX?
City Credit Union - 12 month CD @ 6% APY
Texans Credit Union - 7 month CD @ 6% APY
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Oct 05, 2023 04:07 AM
2,789 Posts
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TheTomSawyerOct 05, 2023 04:07 AM
2,789 Posts
What's maximum?
Oct 05, 2023 09:37 AM
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Oct 05, 2023 09:38 AM
4,422 Posts
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Oct 05, 2023 10:44 AM
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MrWontonOct 05, 2023 10:44 AM
9 Posts

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Quote from cristiank :
You have a point here. While CDs are FDIC insured... Credit Unions in general are not FDIC members.
But credit unions are insured up to the same dollar limits as banks by the National Credit Union Share Insurance Fund (NCUSIF) which is basically identical to FDIC insurance and backed by the full faith and credit of the US government.

There is no risk of loss putting money up to the $250k insured limit in a credit union.
1
1
Oct 05, 2023 11:27 AM
8,017 Posts
Joined Oct 2006
danteshorsOct 05, 2023 11:27 AM
8,017 Posts
Quote from ummmreally :
Wish I had a million dollars to spare for a year. That's more than people's yearly earnings
Looks like about $57K in interest for 11 months.
Oct 05, 2023 12:29 PM
951 Posts
Joined Nov 2017
oharag1Oct 05, 2023 12:29 PM
951 Posts
Quote from labboypro :
Current composite buy rate is 4.3% (0.9% of that is fixed for life of bond, the rest is variable and adjusts 2x/year).
IBonds will reset in November it will be interesting to see new rate.
Oct 05, 2023 01:35 PM
170 Posts
Joined Nov 2005
rhaxterOct 05, 2023 01:35 PM
170 Posts

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Quote from SirMarvinHaggler :
You should not lock up or get taxed on (stocks, etc) money you need before maturity.

In your case, I would look at a high yield savings account, which are getting 4+% right now. Savings account typically allow some withdrawals penalty free each month. Place your $5K over there (plus the minimum amount required to start the savings), then whenever you need to withdraw, do it.
Keep in mind that while this rate is a bit better than what you can get from T bills of similar duration, CD interest is taxable at the state level, whereas interest from treasuries is not (only federal).
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Oct 05, 2023 01:40 PM
170 Posts
Joined Nov 2005
rhaxterOct 05, 2023 01:40 PM
170 Posts
Quote from iLoveCereal :
The time to buy was over a year ago, when the rates were pretty darn high. They've fallen now and will continue to do so. The recommendation by some is to keep the ibond 3 months into a bad rate, then sell, as you get penalized the last 3 months if you sell before 5 years. Note: You must hold for a minimum of 12 months.

Those folks then invest into a high interest CD, having substituted the ibond for a guaranteed rate.
I disagree; people have different financial goals. I bond Rates have fallen, but the November rate is expected to be around 4.5 percent, which is higher than the current I bond rate. And the November rate has a fixed rate projection of around 1.5 percent, which may be worth considering if you are planning to hold long term.

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