Sharonview FCU's Adds 64-Month Certificate Special

This place is going to get creamed. Let's see how many complaints are posted.

knowledgeable well spoken customer service complete with southern accent. MAGA!

In-branch CSR couldn't say when this would be over, but "likely until at least summertime, unless they just get slammed". She threw out the possibility of a rate cut if that happened, but this was all "unofficial, of course."

Credit to Ricochet who posted this first in the forum but was questioned. I can now confirm that Sharonview does accept the ACC as your association. Existing ACC members, of which there are many, have no need to do Hobby Farmers or use any ot the others. ACC membership works. I sent them a copy of my certificate yesterday. Just learned they liked and accepted it without question or issue.

Here is my best suggestion:  When filling out the application online, select the CCC as your association.  Then e-mail Sharonview a copy of your ACC certificate.  That should work.

Incidentally, ACC membership gets you into quite a few credit unions all around the country.  If you are not already a member, it costs only $8 to join. 

In the comparison table it says "60-Month CD Special ($500 min)".
Shouldn't that be "64-Month CD Special ($500 min)"?

is sharonview federal credit union a member of the "SHARED BRANCH" COOP??

THANKS

Seeing report this hour, another website, saying this 4% deal could be dead and gone middle of next week. Nothing like this is for certain. Nobody knows for sure. But cannot say I would be shocked.

Time is of the essence.  I did inquire earlier today and can report as follows:

The Sharonview "back office" does not operate over the weekend.  They do have "front line" reps available weekends to answer the phone for routine matters, existing account inquiries, that sort of thing.  But the pivotal folks who open new memberships and accounts do not work weekends.  They will be back, but not until Monday morning.

My complements to jrich444 for finding this deal, to Ken for posting it, and to Kaight for being the "Knight" of the hour and presenting such helpful information.

4%! I simply adore it

With the $250,000 limitation, the advantage over other 3% CDs is $2,500 a year or $208 a month. That's good but not incredible. I would have to terminate an existing CD at another institution that has an EWP to take advantage of this one.

I wonder if you can send them $350,000 and open two CDs, one for $250,000 and the other for $100,000. The $100,000 would be existing money, assuming you waited a few days before opening the CD.

I'll describe my application experience, which has left me confused. I applied as a Carolina Consumer Council member. (Even though I'm already an ACC member, I decided to go to the Carolina chapter's website and join the ACC via the Carolina chapter.)

I was able to apply for credit union membership and for the required savings account, using the Sharonview application. I was not able to apply for the 4% CD. When I completed the application and clicked "submit", the website congratulated me for "becoming a member of Sharonview Federal Credit Union", said my "account has been created", and gave me my membership number. I was informed I'll receive a welcome packet in the mail, and a Welcome Call from a CU representative

I received 2 automated e-mails. The first ("Your Account Application has been received") read, in part:

"We have received your application. Reviews are usually completed within one to two business days (though periods of higher volume can result in longer wait times). We will be in touch shortly if more information is needed. Approved applicants will be contacted within the next few days."

The second ("Account Application Acceptance Notification") was sent five minutes later, thanked me for my "interest in Sharonview" and continued:

"We have received your application. Reviews are usually completed within one to two business days (though periods of higher volume can result in longer wait times). We will be in touch shortly if more information is needed. Approved applicants will be contacted within the next few days."

I'll try to get through to them Monday. I'm not clear on my status and do not know how to apply for a Certificate of Deposit.

And congratulations to those who've managed to open CDs at Sharonview.

Don't know if this was posted - but in their schedule of fees there's this" - Inactivity Fee (after 12 months without activity) $20.00 / Month". Quite a hefty fee.

Not clear: on the EWP, is it 365 days of interested on the ENTIRE AMOUNT of the CD, or 365 days of interest on the amount you have to take out early?

Also, note that they charge for incoming wires ($$ $$)

Does anyone know if you can elect to have the dividends/interest paid monthly by check? Nothing on their site at all regarding this.

Does anybody know if dividends are posted monthly? I can't find detailed account information on their website. Thanks

minor typo in the post: Charter # is 22458, not 22548. Yes, it's good to always make sure the financial institution is not a shell overnight look-alike webpage for another bank: so I normally double check web address with NCUA to make sure it's legit.

I wouldn't jump all over this. Everyone here is so conditioned by the scorched earth CD landscape over the past decade that 4% seems like manna in the desert, if not an outright hallucinatory mirage. But wait. While 4% for whoever's able to score it may be a coup for some relatively short period, we're about to see the disastrous effects of Trump economic policies (initiating a trade war being only the latest) begin to manifest themselves, - one component of which is likely to be a huge increase in interest rates (yes, good for us, but horrible for the economy as a whole) as the drama unfolds of a bond market absorbing up to 600 billion of Fed balance sheet unloading and 1.2 trillion of deficit financing needs in fiscal year 2019. Who's going to buy such massive amounts of paper at the current paltry rates, with imminent inflation now rearing its head, and rising doubts about just how safe a haven US Treasury debt really is in such unprecedentally enormous aggregate quantities? We could easily see 10 year Treasuries up over 4% sometime in 2019 (and rising), with longer term CD's in the 6%+ range again. That 5 year 4% commitment could well become an albatross in such a rapidly changed circumstance, rather than the salvation you all think it is at present.

Sharonview charges $10 for each incoming domestic wire (most CUs don't charge anything for incoming wires).

How confident are gung-ho posters here that by this time next weekend their 5 year Sharonview CD's will be firmly established in the Sharonview books? I intend a 100K investment, but am wary of complications arising, either in establishing Sharonview membership, or the offer itself being quickly terminated, or at least closed off to those outside the typical Sharonview membership field. Once this CU gets hit with many thousands of apps from all over the country in the coming days they may quite readily rethink just how much funds they're prepared to absorb and from whom. I'm reserving some excitement for now till I'm further along in the rush to consummation. It just may not pan out for many of us.

For those of us with security credit freezes, does anyone know which credit agency needs to be temporarily unfrozen (aside from Chexsystems) for this CU application?

I submitted an online application this AM and, at the end of the process, a page popped up and congratulated me on becoming a member, assigned me a member number(not an application number) and stated I would be receiving a new member welcome package in a few days. Then, I received two emails stating, in effect, that my application would be reviewed in a few days and then I would be notified if my application was approved. So, at the moment, I have no idea as to where I actually stand with them and do not look forward to the 'wait time' when I try to call them tomorrow. lol Anyone else in a similar situation?

has anyone outside of NC and SC successfully opened this cd yet? Did anyone figure out if just an ACC account number enough to join. I have an ACC number from years ago when I joined. Can I use that without joining the SC or NC branch?

I'm thinking more and more like Lou now in wondering if I really want to take the trouble with this. A likely outcome is that I do nothing until the frenzy subsides (just read about the anxiety and turmoil the rest of you have been willing to endure). Then when the dust settles and I understand exactly how the joining up and account opening process is structured and unfolds, I'll move in on it with relaxed demeanor and absent all the anxieties. And should the offer have meanwhile been withdrawn so be it. I've just tired over the pell mell rush with these deals, - like some herd of cattle making a furious (if lumbering) dash for the feeding trough. It's become too unseemly for me to participate in.

from Sharonview's fee schedule:

External Transfer: Incoming & Outgoing ($2,500) – Standard delivery No Charge
External Transfer: Outgoing (over $2,500) – Standard delivery $3.00
External Transfer: Incoming & Outgoing – Next business day $5.00 / Item
https://www.sharonview.org/resources/rates-fees/fee-schedule

My _guess_ is that this applies to transfers initiated via Sharonview's online banking system, not to transfers initiated at another institution's website.

Yours for uncertainty and doubt (but not fear)
alan1

I was advised in an email from Sharonview this AM that membership in ACC/CCC does not qualify for membership in the credit union unless you actually reside in one of those specific named states/areas.

CERTIFICATE/IRA SPECIALS +++
Regarding the 4% 64 mo certificate, among others, see the smaaler print footnote:
* Annual Percentage Yield (APY) is accurate as of 11/13/2017. These rates may change any time without prior notice. After your account is opened, the dividend rate may change
https://www.sharonview.org/resources/rates-fees/checking-savings-rates

Was going to do this but don't want any hassles. I have enough credit unions to deal with.

At this point in time everything's clear as mud.

No regrets I'm sitting out the ruckus.

Post #100 noted the language on the webpage saying APY may change after the CD account is open. I can't seem to find disclosures online - do they clarify this in any way?

I just opened the CD, and was very pleased. Here's a summary of what happened.

First of all, Sharonview has Excellent Customer Service! Besides the CD, I may very well stay with them for other products as well, as EVERYONE I spoke to along the way went out of their way to be helpful, even while I'm sure they're being swamped. Very good experience all around.

Early Friday, I filled out their on-line application, and received an automated email telling me I'd need to email them copies of my ID. At this point though, I may have been lucky, for when I called on Friday with some questions, the helpful CSR then transferred me to some department or branch somewhere (not the normal CSR dept) where a very helpful lady answered my questions, told me her name, and what she needed from me. Friday evening I emailed the requested documents.

Monday morning after getting thru to the main CSR line (not too bad, about 10 mins) I asked to be transferred to the lady I'd spoken to before. Then everything went silent, and I waited for 40 minutes until hanging up (no hold music, no voicemail, just silence). I called back, spoke to another CSR (who apologized profusely, very friendly) and she tried again. Same thing: only silence (no hold music, voicemail, or anything). This time I waited only about 15 mins before calling back, because I think it's their phone system going buggy because so many people are calling (I certainly don't mind holding, but it was apparent that the transfers weren't going through). When I spoke to the 3rd CSR this morning, like all the others, he was apologetic and extremely helpful, offering to message the lady I was trying to reach and had spoken to on Friday. The lady messaged back that she was on the phone with someone else, but would call me back. She did so within the hour -- and by the time she called back, she had already created my account! She gave me my Acct #, and said that with this account number I could go into any shared branch and make my deposit. There was one more set of forms I needed to sign -- with her on the phone, she emailed them to me, and I "signed" them online with the document signging service they use. Then I told her I'd be ready to create the CD by the end of the day, and she offered to call me back a little before the close of the business day. I then drove to a shared branch credit union that's about 20 mins away from me (the closest that's a shared branch CU), made my deposit to the account number she gave me, then called her back (she had given me an extention to try to reach her or her co-workers at if I wanted to reach her before the end of the day, but if she hadn't heard from me by the end of the day, she'd call me back). I reached her, she verified that the deposit I'd made at the shared branch CU had already shown up, and within 10 seconds she created my CD. In the mail, I requested she send me a "real" signagure card (as the online one just uses computer fonts -- and I think I'll be staying with these guys in the coming years, so I want a real signature card), as well as a beneficiary request form. For those interested, she said on the beneficiary request form you can either select just for one particular account, or all (global) non-IRA accounts for the same beneficiaries. She also said an ATM would be forthcoming within 7-10 business days.

Note that I will not post the extention of the person I dealt with (because then thousands of people will be trying to reach just her. Don't bother asking, I won't post it), but I wanted to relate this experience to everyone to let them know that while they're swamped, they ARE trying -- and they all want to help as much as they can. It might take a couple days under normal circumstances for whoever deals with the applications to deal with the deluge they're getting... my suggestion is to give them a bit of time, and maybe check back every day or two. It may seem like nothing's happening, but know that that from everyone I spoke to, they really are trying their best. Once your account is created, you can get right to it.. and if you're worried about the timeframe, consider that once you have your account, you can use a Shared Branch CU to get your funds to Sharonview instantly.

Keep in mind also that Shared Branch is an option to get funds there if you don't want to deal with the US Mail, ACH, or a Wire. Just use google to find a Shared Branch CU in your area (you don't have to be a member of it) and once you have your Sharonview Savings Account #, that's all you need (plus ID). Note that with some "Shared Branch" CUs, only CERTAIN BRANCHES are "Shared Branch" -- call to verify which branches are, before you drive there.

They're swamped... but excellent Customer Service!

For what's it's worth, I'll describe what I was told by two Sharonview frontline customer service representatives. First, here's my situation. I had joined the American Consumer Council via the Carolina chapter, using Sharonview's promo code. On Friday, I applied for credit union membership online. After clicking "submit" I immediately received a congratulatory message welcoming me to the Credit Union, along with my membership number. I then received 2 e-mails that indicated that I was an applicant whose application was being reviewed, and that I would be contacted by a CU representative. Based on a suggestion posted here, I e-mailed my ID and new ACC certificate to Sharonview over the weekend.

I called today since no one has contacted me. Both times I was told that I am a member, and that my account was open. I was told I could get a CD by:
a) going to a branch;
b) going to a shared credit union to deposit funds to Sharonview and then calling Sharonview to open the CD;
c) sending a check, with letter of instruction to open the CD, to their corporate headquarters in South Carolina or to the branch I had selected at the beginning of the online application process.
(Getting the 4% CD is contingent on Sharonview receiving the check before the offer ends.)

I'm going to wait until Sharonview pulls the $5 to open the required savings account, as per the online application process. If that delay causes me to miss out on the promotion, no big deal. Based on my experience, and on what I've read here, I'd prefer to wait until I'm more confident that I am actually a member.

Thanks to all who have posted comments describing their experiences with Sharonview.

Tip: with all the people calling, their phones lines are acting weird.
When calling their 800 number, and pressing "0" then "1", if you then don't get hold music/a recording within 15 seconds, hang up and call back again (you'll be hanging on the line for nothing). You might have to do this a number of times. But, if, after pressing "0" then "1", you start hearing their hold recording, just hang on the line, and someone will indeed come on the line when they get to you.

Further to Comment #100: Once Fort Knox increased the EWP (on existing Depositors) – they said they had the right. DA readers disagreed. The NCUA agreed with Fort Knox – although there was no explicit language in the CU agreement warning depositors that Fort Knox reserved the right to do this, the NCUA felt that various language in the Agreement gave Fort Knox the right to make changes. Stoneview explicitly warns that “These rates may change any time without prior notice. After your account is opened, the dividend rate may change.” How do you read “after your account is opened your dividend rate may change? Maybe the EWP penalty is worth a gamble following a rate change. I would want a written statement from Sharonview that the 4% rate in your Certificate of deposit cannot or will be changed during the term of your Certificate.

I'm always amazed when a decent CD pops up. True, many of us rush in & then worry when the application doesn't finalized as quickly as we wish.
So early this morning I posted, like others I was told I must wait for an e-mail or phone call from a rep to obtain a membership #.

So, I followed Kaight's advice after I knew all my documents were in Sharonview FCU hands. I called & waited for a time for a rep. Finally someone answered, I told this rep that other folks were receiving their Membership #'s. So she passed my call to someone who could finish my application & give me a Mem #. He was very competent.

I drove to the PO with my check & the correct address for posting. All & All, this deal cost me $20 for the Hobby Farmer & $7 for Priority Mail. The mail should be in NC by Wednesday. Hopefully done deal by the end of this week.

I just want to point out something that _may_ indicate a change in Sharonview's implementation of its eligibility criteria. When I used the online application last week, I clicked on "I qualify for membership because... Association." The first association listed in the drop-down menu was "Carolina Consumer Council"

The first entry is now "Carolina Consumer Council (North or South Carolina, GA, TN, VA)"

Id like to buy one of these but I'm not in one of the free states and I don't want to pay $20 to join.

So I bought another 2.25% at Nasa yesterday.

Just opened my share certificate over the phone. I received my welcome pack yesterday. On the second last page it states "for fixed rate share certificate and fixed rate ira share certificate accounts the dividend rate and annual percentage yield are fixed and will be in effect for the term of the account" . No need to worry about the rate changing!

UNCLE!!!...I am out after the FCU continually requested more and more documentation given I'm not in one of their "preferred" states. First it was the drivers license, then SS Card (of which there was no substitute), a utility bill and so on. I called the SS office to get a replacement card but they stated it would take 4-6 weeks so that was the last straw. I applied at Navy FCU back in December of 2017 and had no issues whatsoever. Oh well...best of luck to the rest of you all...good to see that some have been getting in on this deal.

Having a hard time with this one. I applied on Friday and received a message that they would be in touch with me soon. I have tried to call them three times, and they say to wait for someone to call me back. Still waiting...

Meantime, I bought a Hobby Farmer membership on Friday with PayPal. That purchase is still "on hold," even though I paid through my available paypala balance and they received it immediately. So still waiting for a member number from them, too.

Tough deal so far. Those sitting on the sidelines may be the winners here. Eating a hard pull, spending $20, and phone run around is frustrating for an extra 1% over what's available from more reasonable institutions.

It sounds like some of us are having an easier time than others getting an application approved and then having the CD opened. My experience was painless...
1. I applied for membership on Friday and received an application (not member #).
2. Before they even asked, I emailed them a copy of my driver's license and proof of association. My credit report accounts are frozen so I temporarily unfroze transunion and received an access code which I also emailed before they even asked. I used the ACC as I don't live anywhere near the Carolinas.
3. I called today (Tuesday) first thing in the morning and asked about the status of my application. The representative verified who I was and said someone from the branch location I picked on the app would be contacting me today. An hour later I received a call from a representative and confirmed I was approved and just needed to Docusign some forms. I received them within five minutes after i got off the phone with him.
4. I signed the forms via Docusign and five minutes later the representative emailed me confirming he got the signed forms and I was good to go. I now had a member #.
5. I went online and signed up for an online account.
6. I then went to a shared co-op branch and dropped off my check.
7. Came back home and logged in. My deposit showed in my account.
8. I emailed the representative stating I made the deposit to fund the CD.
9. The representative emailed me 10 minutes later and informed me he transferred the deposit into a new CD.
10. I immediately checked my account and the CD was opened just as he said.

I'm thinking what branch they have listed that you pick and who looks at your app makes a difference. I just picked Spartanburg for no particular reason and I have no complaints. The representative that helped me was great on the phone, answered all my questions and responded to my emails very quickly.

My experience - applied online Friday. Last evening I called and confirmed my account membership was established. Today, shared branch deposit was painless for me. Transfer of funds is immediate. When I got home from town, checked online, $ were in my new savings account and I contacted Sharonview to set up the certificate. The Sharonview rep I spoke with was from the HQ call center. As a side, Rep told me there might be a 5 day hold on my deposit as I am a new account, however, would not affect the opening of the CD and I would be immediately accruing interest. I asked about inactivity fees on the savings acct; was advised to have one transaction a year to avoid inactivity fees, ($20) so I just set up online, an external pull semiannually for $10 (minimum required for external pull) while I was thinking about it, so in case I forgot in the future I wouldn't get a bad surprise. Good luck everyone, and may rising rates continue to bless us all.

follow up to my previous comment #78 about mailing in check and proof of eligibility this past weekend. I tried a couple of times to call and check status but never got through. But the good news is that I just logged into my acct and the CD balance is showing.

I need to amend my post (#5) from last Friday. At that time, on the telephone with a rep, I was told ACC membership was acceptable. I had already e-mailed my ACC certificate and, after retrieving it, the rep promptly granted me a member number and literally welcomed me into Sharonview. Swell. Easy peasy. I was happily able to log into my new Sharonview account straightaway. Great! But that was then. This is now:

Today a different rep told me ACC was NG. Unacceptable. "But, but" I stammered, explaining the above. "Hobby Farmers or you cannot move forward with funding your accounts" she insisted. What was I to do? Join Hobby Farmers, that's what I did, and immediately, too. Oh, well. Sometimes you get the bear, sometimes the bear gets you.

Despite the above wrinkle I am very happy with Sharonview and would recommend this 4% CD to others. Thank you, Ken, for a great CD deal!!

As of last Friday evening I am a proud member of the Charlotte Folk Society. Who knows, I may even lean to play the dulcimer!

To echo comments #117, #161, #168, my process has beep very smooth and I've been quite impressed with customer service professionalism and helpfulness!

Some finer points:
- I had to temporarily unfreeze Transunion and Chexsystems (thanks to folks on this site)
- I had tried joining via ACC but was told I cannot due to residing outside of the ACC states they support; so I joined Hobby Farmers. While it directed me to Paypal, on the paypal page, I just used a credit card option from there and paid with a credit card directly.
- The Hobby Farmers page, when I looked closely, has a small section saying that if you are joining them for this credit union, you can just send the email of payment as proof and it will be sufficient. Hobby Farmers clearly noticed the inflow :-) Anyway, that's what I sent the CSR that's been helping me and it sufficed. I had also emailed DL copy.
- Thanks to anon4567, I used Shared Branch for the first time and was very pleased. I deposited a couple personal checks and they appeared in their system right away. When I shortly called my CSR to ask to open the CD, she said she cannot be cause money from the checks will be on hold for a week. I insisted and after she checked with supervisor, they agreed to open the CD and have the CD funds on hold - fine by me :-) ... The CD got open right away then.
- Shared branch just needed by DL and account number at the credit union. I deposited some cash as well - that one was available right away.
- I am told different beneficiaries can be setup on different CD accounts. I have some more money on the way and will setup different beneficiaries so as to be under $250max limit. Note that I want both the original 250k + all the interest that accumulates over then next 5 years to be insured, so I need at least 2 beneficiaries for that.
- Everything has been done via electronically.

Apologies if this shows up twice.
Has anyone else had a problem receiving the DocuSign e-mail from Sharonview? I had forgotten that I was supposed to get it. I called yesterday afternoon; the Sharonview representative said she would promptly contact the branch i had selected to get them to send me the DocuSign material. I still have not received anything.

After further review I'm considering a second bite of the Sharonview 4% apple, prompted by a maturing CD tomorrow at another institution. This really is an amazing deal. Has anyone been given indication by a Sharonview rep as to how much longer this deal might last? Friday seems to be a cutoff day for these things, fairly often anyway. It'll be a squeeze moving funds so quickly. Probably will need to wire.

Commentary

Going back to the Andrews deal, I remember thinking their 3% CD offering back then was merely the first of a LONG string of CD opportunities just as good or better coming very shortly thereafter. Well, I certainly got that wrong!

4% is an outstanding CD interest rate today, right now, and I'm concerned about making the same mistake twice. While I believe rates are ascending, most remain a goodly distance away from 4%. The interest rate future could not be more uncertain, and a 4% bird in hand is better than a 5% or 6% bird in flight off in the distance and unable clearly to be seen.  So if I'm able I'm gonna open another Sharonview CD . . . if I can get the money there in time.

I had good experience with account opening process. I was given member number in a few minutes via email after I submitted application via web. I was able to login after that.

Next I had to setup ACH to send funds. Today the funds were sent and I was able to open the CD.

I had very very positive experience with the customer service representatives. I liked the information they gave and liked their accent even more! In CA I don't get to hear that sort of accent often.

All my CDs have now been funded, thanks to the wonders of Co-Op Shared Branching and the Charlotte Folk Society. The Sharonview employees I spoke with or emailed, especially at the bank branch level, were uniformly excellent. (I joined the Spartanburg branch.) To get the funds to Sharonview I used a personal check yesterday and another today, at a local Co-Op branch. First time doing that, but I'm sure it won't be the last. Sharonview had no problem with my request to parse the funds out into several smaller CDs. Online I saw that an initial hold was put on each check, but this caused no problems when I asked the Spartanburg employee to cut the CDs - the hold was simply transferred to the CDs.

One detail to share, which initially caused me a little concern but was answered this morning. Initially, on Monday several CDs were "created" but with a zero balance - I was in the process of sending funds. I could see those CDs in my Sharonview account online. Late yesterday afternoon, however, they disappeared. At that time I thought this could either be a normal systems procedure, by which empty CDs were removed after a day or so, or it could be a sign that Sharonview was preparing to end the offer. When I called this morning to finish the process, I asked about that. Turns out it is simply part of their normal systems procedure. So, nothing to worry about in itself, although of course the offer could still end at any time.

Like everyone else, I asked this morning about when they might end it, as I asked Monday. My rep. said "even upper management is not sure", and then said his understanding is that they have a certain dollar limit to reach, then they will stop. He did not know what that limit was, or how close they were to it.

This afternoon I received my 4% cd. ....I applied online Sunday evening, got a confirmation back in a few minutes stating they need our DL#'s & I then emailed my DL# along with my new Hobby farmers membership. I called Tuesday morning & they said membership would be approved & emailed back to me on Wednesday It was complete & to sign the E doc's. Wednesday I set up their online banking to get a mandatory saving account. I then went to my Alley account & wired my funds back to my sharonview savings account. The funds showed up about 1 hour later & then I called a sharonview Rep to setup the CD.That took about 5 mins to do ........during the setup the rep told me that if I had other funds later to open another CD he would do that for Me , so I asked how long the 4% would last & he said they expected at least 1 month . It took a few days but I feel it was worth the time......I'm from Calif. & thanks to everyone that left comments to help others with the setup of the CD

Hey guys I read the disclosures and EWP language, and it said you can't elect to have the interest payment paid to you if you didn't elect it at the time of the opening. So if you ever think you're going to need the interest payments, do it now.

It also said the Credit Union does not have to consent to an early withdrawal of the CD even if you elect to pay the penalty.

Ken's comment about the early withdrawal penalty "365 days" no longer appears on the Savings Rate page. The text has been removed. The standard disclosure statement states the penalty for CDs over 1 year is 180 days unless "otherwise" stated. Has anyone who opened the CD bothered to read the disclosure statement?

I called and emailed Sharonview, requesting a copy of the statement for this CD. The representative told me no one had asked for a copy prior to purchasing the CD, which is sad, but not a surprise. I can't comprehend how consumers can buy a CD without reading the terms.

Many, many comments, including mine on the wonderful 4% CD.
I thought my story would be over by now with this funded 4% CD in hand. But unfortunately not yet. I could log into my account several days ago but no CD there. I mailed my check by Priority mail 3/5 promised arrival Wed 3/7. Tracking closely, the mail has only arrived in Fayettville (sp), not yet in Charlotte NC. I traveled over to my PO to ask what is the holdup. Probably weather, anyway perhaps arrival tomorrow 3/9.
I'm beginning to wonder if this was a big hoax. lol So next time I would have tried the Co-op route.

So Kaight, you are going to try adding another CD with Sharonview? You should know all the procedures & answers by now. I still agree that their agents are very competent. Mine still is watching the mail & will get back to me if my check arrives tomorrow.

CAUTION - The membership disclosure states:" The credit union, in its sole discretion may change ANY term or condition of this Agreement, including the method for determining dividends, at any time without notice except as expressly required by applicable law".
Be careful! Also make sure you are a member (not only an order #) for the Folk or Farmer group to have the NCUA insurance protection in place. Insurance companies look for reasons not to pay out.

I just noticed on https://www.sharonview.org/resources/rates-fees/checking-savings-rates that not only 365 penalty language is gone as comments above discuss but also the confusing language earlier about possible dividend changes after "account is open".

I thought I joined the Carolina Consumer Council but when I filled out the application it gave a membership certificate to the American Consumer Council (I already had that membership). I am assuming Sharonview will take this?

Has anyone received in the mail yet, a paper that shows that the CD was opened, along with the terms (amt deposited, interest rate, months, etc)?

I received a generic "Welcome" packet yesterday, but not nothing showing a CD was opened, or the other documents I requested (like a beneficiary form) -- though those may arrive today. However, I'm asking if anyone has received such printed acknowledgement of the CD in the mail, as looking at your accounts online will only show you have a 64mo CD and the amount deposited -- but not any of the terms (such as the interest rate or EWP).

Someone mentioned signing a rate sheet with DocuSign. For what it's worth, I never signed a rate sheet or any documents with the EWP or terms of the CD. I had another look at the documents I signed with DocuSign, and the DocuSign summary lists: "Document Pages: 3, Certificate Pages: 4, Signatures: 2" and the documents signed were only "Account Service Enrollment Designation" and "Membership Acct Application".

There was speculation that this deal will end on Friday ... Looks like it has not ended.

4% CD CLOSES @ 5P TODAY. CSR said members that signed recently will have some time to get 4% cd funded. New members after 5P today will not have 4% available.

Looks like it's over. No mention on their website this morning.

Looks like the 64-month CD is gone. I don't see it on their website any more, although their CSRs had assured me it would be in effect for a while. I hope they will honor the rate for funds that I mailed them before March 9. It is very hard to get anyone on the phone. Does anyone have an update?

There is a note on the Sharonview’s website about honoring 4%CDs for those who are waiting for the funds. Might be helpful to some. https://www.sharonview.org/share-certificate-special

After initially resisting this deal, I changed my mind and opened an account on Thursday night and funded the CDs on Friday. I agree with other posters regarding the excellent customer service. Did everything in less than 24 hrs.

I had to close a couple of CDs with 180-day interest penalties to take advantage of this deal. It will take 12 months to recoup the penalty. I might regret this if there are better deals in the next 12-24 months, but I long ago have ceased trying to forecast interest rates, an exercise in futility in which I am rarely right.

Question for those who became Sharonview CU members. A poster either here or in Ken's "Forum" stated that his membership had involved a "hard credit pull", and he knew that because he checked Credit Karma (which as many of us know draws from Transunion and Equifax data). Does anyone know how long it takes Credit Karma to show a hard pull?

I was under the impression that it was close to immediate (as opposed to score calculation, which is more periodic), but my membership was finalized a week ago and I can find no recent hard pulls on Credit Karma. Thanks in advance.

Am again impressed with Sharonview's excellent customer service.
Some misc info others may find useful:

(1) ATM cards: can be used to make WITHDRAWALS from any Co-Op ATM but NOT Deposits. Deposits are allowed at CoOp Shared Branches but not CoOp ATMs. The ATM card (when using a non-Sharonview CoOp ATM) is for withdrawals only. I tested this myself, and it wouldn't allow a deposit.
(2) Sharonview does not have a typical printout that most other CUs or banks will send you when you open your CD (showing full terms of the CD, penalties, date opened, maturity date, etc). The best they could offer was just the generic rate sheet (that shows 365 days interest on the amount withdrawn as the EWP) and the interest rate. I had to call to find out the exact maturity date, but don't have it printed anywhere. Oh well :)
(3) There is a 5 business day grace period after the CD matures (and many will find theirs matures around the July 4th holiday period).

I had a great experience setting this up. Now I can borrow on my cars at 1.99% from them.
It's only at times like this I had a wife and children

Sharonview supposedly does a "hard pull" for membership, meaning a credit inquiry from 1 of the 3 major credit bureaus.

Does anyone know how long it takes Credit Karma to show a hard pull from TransUnin or Equifax (the 2 that they partner with)? Thanks.

I applied for membership on March 9, the last day that this CD was available. It took them over a week to process the application, but I was promised that I could open the CD special since my application was received before the CD ended. I finally got an account number on the 26th and tried to establish a connection with Ally. Ally sent the two trial deposits but Sharonview did not allow them to get those funds back because the account was not funded. Apparently the $5 which should have come over from Ally to fund the account, did not come over, probably because they were overloaded with applications and the request did not go through for some reason. The $5 arrived today! I am sending them a check for the 4% CD special today. Customer service: Excellent!! I spoke with several people from the NJ branch and their corporate office all of which were very attentive and helpful. I am very pleased that they honored this special cd for all of us late arrivals!! As always, thank you, Ken!!

In case anyone's still reading this thread:
Interested in this CD is COMPOUNDED MONTHLY
(For the record, since there's no documentation that states this).

Seeing this morning the first payment from Sharonview of interest on our CD opened during the 4% special. It is much more money than we receive on our 3% certificates. Funny this should be happening today. It is sort of an Easter gift and is much appreciated.

I want to thank Ken first and most of all. Without him we would not have known about this great CD. Thanks also to other posters here whose helpful posts supported our efforts to take advantage of this remarkable CD deal. Finally, thanks to President Trump. CD rates like this did not come along for many years until he assumed office.

We only hope Sharonview is not both the first and last such opportunity for us to invest at a higher interest rate. That would not be a good thing. We are hoping for the best, hoping more CDs like the one we have at Sharonview will become available as our existing certificates mature in the future.

SHARONVIEW FCU

I received a INVOICE from HOBBY FARMERS that PayPal was going to debit my account for HF Dues. They did explain what I need to do to Cancel. This was not something I expected since I do not remember signing up for Auto Renewal. I plan to Cancel this as Soon as possible or ask for Refund if it has already processed.

My sincere apology to a DA poster who inquired about this and I said Do not worry about it.
PLease Check your method of payment when you applied for membership to SHARONVIEW FCU.

The Sharonview Federal Credit Union Fayetteville Branch will be closed for the remainder of the day due to a robbery. No employees or members were physically harmed during the incident. The branch will reopen on Monday, December 24 at 9:00 a.m.

Ah, I wish they were still offering 4%...