Andrews FCU Share Certificates - 5%

[jeromedawg]

Anyone else here have an account at Andrews FCU?

I just got an email regarding 5% share certificates. Has anyone else bought one of these whether at Andrews or elsewhere? Never bought something like this before but it seems straightforward enough?

7-month holding $1000 minimum with a Dividend rate of 4.910% and APY of 5.00% - doesn't seem too bad considering the 7-month hold time ?

https://www.andrewsfcu.org/Learn/Resources/Rates/Share-Certificate-Rates


I just bought a bunch of ibonds before the October cut-off at the 9.62% interest rate as well haha.

[nalor511]

You can buy a 6mo treasury on the secondary market at any broker (trade -> fixed income -> search -> treasury -> maturity -> sort by Yield to Maturity -> depth of book -> buy) that yields 4.5-4.6% , state tax free. That's more convenient, and easier, than dealing with AFCU. I just (a few months ago) broke my 3% CDs with Andrews to buy ibonds. They're not so bad to deal with as some CUs, but at this point I recommend sticking with Treasuries until the rates no longer make sense.

You can also get a brokered CD earning 4.9-5% on any brokerage, for up to 5years, right now, but again there's state tax on those

[jeromedawg]

You can buy a 6mo treasury on the secondary market at any broker (trade -> fixed income -> search -> treasury -> maturity -> sort by Yield to Maturity -> depth of book -> buy) that yields 4.5-4.6% , state tax free. That's more convenient, and easier, than dealing with AFCU. I just (a few months ago) broke my 3% CDs with Andrews to buy ibonds. They're not so bad to deal with as some CUs, but at this point I recommend sticking with Treasuries until the rates no longer make sense.

You can also get a brokered CD earning 4.9-5% on any brokerage, for up to 5years, right now, but again there's state tax on those

Nice. So I can buy that on Fidelity? I'll probably just look into that in this case... I don't really like AFCU much and am actually trying to move some funds out of there. Only reason I opened an account, at the time, was to get a CC that had international ATM access w/ no added fees hahaha.

[jim555]

I emailed them about early withdrawal penalty, if it pays interest how often?  The max is $100K.

[nalor511]

You can buy a 6mo treasury on the secondary market at any broker (trade -> fixed income -> search -> treasury -> maturity -> sort by Yield to Maturity -> depth of book -> buy) that yields 4.5-4.6% , state tax free. That's more convenient, and easier, than dealing with AFCU. I just (a few months ago) broke my 3% CDs with Andrews to buy ibonds. They're not so bad to deal with as some CUs, but at this point I recommend sticking with Treasuries until the rates no longer make sense.

You can also get a brokered CD earning 4.9-5% on any brokerage, for up to 5years, right now, but again there's state tax on those

Nice. So I can buy that on Fidelity? I'll probably just look into that in this case... I don't really like AFCU much and am actually trying to move some funds out of there. Only reason I opened an account, at the time, was to get a CC that had international ATM access w/ no added fees hahaha.

Yes I buy mine at Fidelity, and those instructions work for fidelity

Fidelity rebates all ATM fees worldwide and no wire and no NSF fees, in their CMA account