New CD Rollover Promotion At Pentagon Federal Credit Union

This is what I recieved yesterday from Penfed ,As I have a CD maturing in oct.

"Patience Pays- hold off opening your new cert. until jan 2011 and Penfed will guarantee you our highest apy !"

Total certificate promotion amount: $240,000,000.00

 

Reservation Period: 8/16/2010 - 10/31/2010 or until the promotion amount is depleted

Certificate Funding Period: 1/1/2011 - 1/31/2011

 

Total funds available as of 08/19/2010 8:09:53 PM Eastern: 

$238,009,753.93



 

5 year pays 3.5% apy

7 year pays 4.25% apy

10 year pays 5% apy

I also received the PenFed renewal offer in the mail yesterday on my CD due to mature in October.  The enclosure states "This is a special test offer to a select portion of our membership only."  Wow - My lucky week - selected by PerkStreet & PenFed for special limited offers!  (SEE MY POST ON FEATURED DEALS for 3% CASH REWARD on ALL PURCHASES with PERKSTREET debit card!)   Instructions for the PenFed CD are:   1) Your maturing certificate must be set to close at Maturity. 2) Long onto PenFed & click "Maturity Certificate Options" for this certificate 3) Select the option to "Close at Maturity" & have proceeds deposited into a PenFed savings or checking account. 4) Click on the "Certificate Promo Reservations" button & follow the prompts to order your Jan 2011 high-yield certificate. 5) Ensure the January 2011 opening funds are in the designated PenFed account 48 hours prior to selected open date. 6) Relax & watch your savings grow! The 10 year certificate option is so new that their disclosure doesn't mention the penalty on 10 year early withdrawals.  The 5 year has a 6-month penalty and the 7 year has a 1-year penalty.