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6% CD 3 Yr. CD, Pentagon Federal Credit Union

S

seanbigdealer

Member
I believe this is hot, however it does have some restrictions on joining. Almost any government or military in your family, civilian job with any major defense related department, or working for one of the large list of organizations and companies listed. I am not military and was able to join, have a 3rd cousin in the reserves? - might work (I don't believe they really chech anything!)

<a target=_blank class=ftalternatingbarlinklarge href="https://www.penfed.org/productsandrates/checkingandsavings/moneymarketcertificates.asp">https://www.penfed.org/productsandra......avings/moneymarketcertificates.asp</a>

Fixed link
 
3 years? That's a long time..I'd personally go with a shorter term and slightly lower rate.

Good deal if you have money you don't need.
 
Lets say you put in 1K dollars...What after 3 years you get 2K? My math says that you'd be getting more like 500.00 or 1.5K after the 3 years. I don't know, do they have some sort of CD calculator at X% interest over Znumber of years? Not only that but I am sure you would have to pay taxes so... That would be nice if the calculator could also give you a NET profit.

I think the rule of 7 is ... Every 7 years with compond interest and if the rate were not to go below 8-6% you would double your money. Anyway something like that.

 
or you could just simply multiply it 1k x 1.06 x 1.06 x 1.06 for each year it compounds... you'll be off by a few cents but it wouldn't matter. 🙂
 
the Pentagon Federal CU VISA card is totally hot too. 1.25% back on everything, no restrictions or tier.

Use Citi or Chase card for 5% on gas and groceries and Pentagon Federal VISA for all else.
 
Veterans are top on their list (#4), or (#10) whatever that means:

1. Do you have a family member or housemate who is a member of Pentagon Federal or is eligible to join?
2. Do you work at the Pentagon Building?
3. Are you active or retired from the U.S. Army, U.S. Air Force, or Coast Guard?
4. Are you Reserve, National Guard, or ROTC - Advanced Cadet with any of the above?
5. Are you a civilian employed by, or retired from:
* Department of Defense?
* Department of Homeland Security?
* Department of the Army?
* Department of the Air Force?
6. Are you a MEMBER of any eligible organization?
7. Are you EMPLOYED by any eligible companies or organizations?
8. Are you assigned to, work at, or receiving benefits from any military related installations?
9. Do you work at the TransPotomac Plaza or Canal Center Plaza in Alexandria, VA?
10. Would you be willing to join the National Military Family Association (NMFA) in order to become eligible to join Pentagon Federal Credit Union?
 
Originally posted by: seanbigdealer
Veterans are top on their list (#4), or (#10) whatever that means:

1. Do you have a family member or housemate who is a member of Pentagon Federal or is eligible to join?
2. Do you work at the Pentagon Building?
3. Are you active or retired from the U.S. Army, U.S. Air Force, or Coast Guard?
4. Are you Reserve, National Guard, or ROTC - Advanced Cadet with any of the above?
5. Are you a civilian employed by, or retired from:
* Department of Defense?
* Department of Homeland Security?
* Department of the Army?
* Department of the Air Force?
6. Are you a MEMBER of any eligible organization?
7. Are you EMPLOYED by any eligible companies or organizations?
8. Are you assigned to, work at, or receiving benefits from any military related installations?
9. Do you work at the TransPotomac Plaza or Canal Center Plaza in Alexandria, VA?
10. Would you be willing to join the National Military Family Association (NMFA) in order to become eligible to join Pentagon Federal Credit Union?
Click to expand...

Veteran and retired are 2 different things.

If you served in the military you are a Veteran. If you did 20+ years then got out then you are retired.
 
Originally posted by: biggiesmallz
Originally posted by: seanbigdealer
Veterans are top on their list (#4), or (#10) whatever that means:

1. Do you have a family member or housemate who is a member of Pentagon Federal or is eligible to join?
2. Do you work at the Pentagon Building?
3. Are you active or retired from the U.S. Army, U.S. Air Force, or Coast Guard?
4. Are you Reserve, National Guard, or ROTC - Advanced Cadet with any of the above?
5. Are you a civilian employed by, or retired from:
* Department of Defense?
* Department of Homeland Security?
* Department of the Army?
* Department of the Air Force?
6. Are you a MEMBER of any eligible organization?
7. Are you EMPLOYED by any eligible companies or organizations?
8. Are you assigned to, work at, or receiving benefits from any military related installations?
9. Do you work at the TransPotomac Plaza or Canal Center Plaza in Alexandria, VA?
10. Would you be willing to join the National Military Family Association (NMFA) in order to become eligible to join Pentagon Federal Credit Union?
Click to expand...

Veteran and retired are 2 different things.

If you served in the military you are a Veteran. If you did 20+ years then got out then you are retired.
Click to expand...


Exactly.
 
Originally posted by: ericlp
Lets say you put in 1K dollars...What after 3 years you get 2K? My math says that you'd be getting more like 500.00 or 1.5K after the 3 years. I don't know, do they have some sort of CD calculator at X% interest over Znumber of years? Not only that but I am sure you would have to pay taxes so... That would be nice if the calculator could also give you a NET profit.

I think the rule of 7 is ... Every 7 years with compond interest and if the rate were not to go below 8-6% you would double your money. Anyway something like that.
Click to expand...

It is the rule of 72 -- you take 72 and divide by the % rate and that equals the number of years to double you money (roughly).

i.e. 72/6 = 12 -- it will take 12 yrs at 6% to double ($1000 after 12y @ 6% ~ $2012)
 
Interest rates are going up. You might lock yourself into these 3 years deals to find out that there is a better deal with a higher interest rate a week later. I don't know if you folks have noticed, but the hot deals forum has been getting a lot of threads about savings accounts and cds with what seems to be a good interest rate right now. If you have the patience, why don't you wait a couple of months and see.
 
However, if you know that interest rates are going to drop, it'd be nice to have your money lock at a high interest rate. of course this depends on how good you can tell the future.

//krunk (^_^x)
 
Usually when banks forsee rates going higher they offer longer term CDs... and conversely, when they think they are going lower they offer shorter term CDs. In this case, it seems like the issuing bank is betting on higher rates in the near future.
 
how about someone loans me a few grand to get this CD. After 3 yrs, i'll send them their initial amount given, but I keep the interest earned? Sound like a deal?
 
Originally posted by: scb175
how about someone loans me a few grand to get this CD. After 3 yrs, i'll send them their initial amount given, but I keep the interest earned? Sound like a deal?
Click to expand...

LOL, a 3-Year 0% loan? Haha.
 
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