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Rollover Your Old 401(K)/Transfer IRA And Get Up To $600 Cash

Friday, March 28, 2014 - 11:02 AMTechnology Credit Union - Details
Technology Credit Union has set up a limited time offer where you can receive cash if you Rollover your old 401(k) or transfer your IRAs. The breakdown of the potential earnings are listed below. See site for full details.

Assets less than $25,000, $0 (no bonus);
$25,000 to $49,999, $50;
$50,000 to $99,999; $100;
$100,000 to $249,999, $200;
$250,000 to $499,999, $400;
$500,000 to $999,999, $500,
$1,000,000 or above, $600.
4
jholsombeckjholsombeck11 posts since
Feb 11, 2014
Rep Points: 30
1. Friday, March 28, 2014 - 11:07 AM
Just be aware that this person is most likely not a fee only person. Every person I know that works with investments in a bank or  credit union makes a lot or all of their money by the commissions on their sales and the sold instruments are not always the best suited for someone. 
3
Ally6770Ally6770912 posts since
Jan 16, 2010
Rep Points: 2,655
2. Friday, March 28, 2014 - 12:08 PM
Some people may prefer to rollover their 401(k) to a bank CD IRA.
So this is would be a good offer for them.
Better to receive a bonus than no bonus if a bank CD IRA is what you want.
5
exit8exit814 posts since
Sep 18, 2013
Rep Points: 55
3. Sunday, March 30, 2014 - 12:14 PM
To #2:  This CU also offers a variety of investment products in addition to CDs so comment from #1 is very likely applicable.
1
bwk1954bwk19545 posts since
Dec 8, 2011
Rep Points: 18
4. Sunday, March 30, 2014 - 12:51 PM
Because they state that they are not affiliated with the credit union and that their products are not FDIC insured I really do not think that they would be selling an IRA CD. Oh yes and they say under details that they are a FINRA registered office.
1
Ally6770Ally6770912 posts since
Jan 16, 2010
Rep Points: 2,655
5. Sunday, March 30, 2014 - 5:35 PM
The products that are not affiliated with the credit union are securities and insurance products.

If you get the IRAs, then it is with the credit union.

That is how I read it.
1
exit8exit814 posts since
Sep 18, 2013
Rep Points: 55
6. Tuesday, April 1, 2014 - 10:41 AM
Received an answer to an email from Nora Yeh and the bonus is for of IRA's transfers or 401k's rollovers and only to an investment brokerage account.
2
Ally6770Ally6770912 posts since
Jan 16, 2010
Rep Points: 2,655
7. Tuesday, April 1, 2014 - 2:31 PM
I must be missing something here because I don't know what all the excitement is about in this offer.  I read their reviews and they are terrible.  Am I the only one who noticed that one has to put in one million dollars to get the $600.00 bonus.  Even with some of the lower amounts and bonuses, this certainly would not be where I would want to put our IRAs.  To each his own, I guess.   
1
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
8. Tuesday, April 1, 2014 - 3:27 PM
 To each his own, I guess.   
Fidelity offered something similar last year.

I have no problem with brokerage account IRAs. I would invest in Vanguard ETFs.
You either know what you are doing investment-wise or you don't.
And the ones who don't have bigger issues than whether the advisor is fee-only or not.
1
exit8exit814 posts since
Sep 18, 2013
Rep Points: 55
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