It appears that Navy Federal Credit Union will be ending their 6% APY 10-month special certificate early. A reader mentioned being told by a Navy FCU service rep yesterday that the CD will only be available through August 14, 2007 (Tuesday). Previous reports from the Navy FCU service reps indicated that it would likely last through August. Perhaps with the rates trending down recently, more people than Navy FCU had expected jumped on this deal.
Navy FCU started this special CD in early July. Please refer to my previous post for more info on this CD special, membership into Navy FCU and other Navy FCU details.
With only two days left, this makes funding the CD more problematic. ACH may be too slow depending on your bank. I opened this CD in July by doing an ACH transfer of funds from my GMAC money market account into my Navy FCU's savings account. I initiated the transfer on Sunday, and the funds were available on Tuesday. I then purchased the CD on Tuesday online at Navy FCU's website and funded it from the savings account.
If you're worried about the speed of ACH transfers, you may want to do a wire transfer of money into your Navy FCU's savings account. Navy FCU doesn't charge a fee for an incoming wire transfer, but your bank may charge a fee for initiating the outbound transfer. More details about wire transfers into Navy FCU are available here, and more info on other ways to transfer money into Navy FCU is located here.
Thanks to the reader who emailed me the news of this early end to the special.