Home › Forums › Financial Markets/Economics › Calfirnia Coast credit union
- This topic has 17 replies, 10 voices, and was last updated 16 years, 11 months ago by
what_a_disasta.
-
AuthorPosts
-
September 30, 2007 at 12:40 PM #10455September 30, 2007 at 12:46 PM #86452
one_muggle
ParticipantIt’s average, check out:
http://www.bankrate.com/brm/safesound/ss_home.asp
for bank ratingsIMHO, it’s rating is what I see for most credit unions, so I wouldn’t fret FDIC level deposits (typical is $100k/custodian, so you can get $200k, if you are married AND don’t mind the wife knowing 8^P )
September 30, 2007 at 2:54 PM #86456Raybyrnes
Participant9% Apy on 7 month Certificate. Only catch is that it is limitied to $2000. So you are going to have to open up multiple accounts. USE offered a similiar promotion going back about 1 year ago paying 7% apy, 2K limit. I opened up accounts for myself, my wife and my son.
They use these teasers to open up accounts. Can become a littel bit of a pain at tax time when you are getting statements from 10 different instituions.
September 30, 2007 at 7:55 PM #86496bsrsharma
ParticipantCredit Unions are insured by NCUA. See http://www.ncua.gov/ShareInsurance/Index.htm
September 30, 2007 at 9:37 PM #86514donaldduckmoore
ParticipantThank you for your feedback, but $2000 limit is a joke and not worth the effort to open the account.
October 1, 2007 at 7:01 AM #86533Coronita
ParticipantSpeaking of which. Where are you folks parking short term cash equivalents? I 'm currently at Emigrant Direct, but rates are down to 4.75%
The best insured,reputable place i found so far is World Savings 5 month CD at 5.41% http://www.worldsavings.com/pages/0,,11298_11802,00.html?source=WeChFiEH2685
San diego credit union is 5.11% i think.
October 1, 2007 at 7:13 AM #86535Wickedheart
ParticipantI just rolled a CD over on the 18th at California Coast for 5.30. You can usually get a better deal from your bank than what’s being offered if you come armed with a list of CD rates from BankRate.
October 1, 2007 at 7:25 AM #86536HLS
ParticipantCountrywide Bank is still paying 5.35% APR (5.50% APY) on liquid deposits of $10K- $100K
For a $250K account 5.49% APR (5.65% APY)On a 1 YR CD it’s 5.50%. All FDIC insured to the limits.
ANY FDIC account is just as “reputable” as another.
What makes you think WORLD SAVINGS is so reputable ???
October 1, 2007 at 7:43 AM #86538bsrsharma
ParticipantI just opened an account at Countrywide Bank and deposited less than FDIC limit. Hard to pass up risk free 5.5%. I am going to roll over my cash among highest paying FDIC/NCUA institutions.
October 1, 2007 at 8:09 AM #86543Coronita
ParticipantCountrywide Bank is still paying 5.35% APR (5.50% APY) on liquid deposits of $10K- $100K
For a $250K account 5.49% APR (5.65% APY)On a 1 YR CD it's 5.50%. All FDIC insured to the limits.
ANY FDIC account is just as "reputable" as another.
What makes you think WORLD SAVINGS is so reputable ???
Well, what I consider
1) easy access at a branch in del mar
2) prior banking history
3) sufficient time to roll teaser cd's without auto-reenrolling in a lower rate.
I would use countrywide, except I'm not aware of any local branches (could be wrong). When the CD matures, I want to be able to move things out in person.
October 1, 2007 at 8:16 AM #86544patientlywaiting
ParticipantI also have a CD at World Savings. I think they were shacky before but were acquired by Wachovia.
October 1, 2007 at 8:19 AM #86545HLS
ParticipantCountrywide Bank is online.
You “move things out” without even leaving your computer.With CW Savingslink, the account is linked to your checking account at any bank you want.
A request by 4pm transfers the money into your checking account the next morning.I cannot imagine easier access to money. Having to go into a branch today, is no longer easy access to money.
World Savings has HUGE exposure to Negative Amortization Loans. They invented them about 25 years ago. They thought that they had them perfected.
Now owned by Wachovia, I don’t like them.October 1, 2007 at 8:19 AM #86546Wickedheart
ParticipantF_L_U
I thought most banks allow a 7 day grace period when your CD matures. Mine auto rolls but I have a 7 day grace period where I can either pull my money or negociate the terms.
October 1, 2007 at 8:20 AM #86547bsrsharma
ParticipantFLU,
I have 7 accounts and 6 of them are out of state. 5 of them have no physical branch. I don’t think brick & mortar branch is a sign of strength. During the S&L Crisis, 100s of brick & mortar institutions perished. Much better to see financial statements at bankrate.com (I do all my transactions with ACH)
October 1, 2007 at 8:22 AM #86548Eugene
Participant“if you are married AND don’t mind the wife knowing”
You can get 200k in an account that’s yours but payable on death to your wife.
-
AuthorPosts
- You must be logged in to reply to this topic.