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Penfed Money Market Certificate Renewals

Sunday, February 12, 2012 - 9:45 AMPentagon Federal Credit Union - Details
If you renew a Money Market Certificate, that has matured at Penfed, at a different maturity than what it was before make sure and check it right away after it renews. I had a 5-year certificate that matured and I specified online, under certificate options, that I wanted to change the maturity date to a 7-year term. After checking on-line the following day, the cerificate was renewed at the 5-year term once again. This is the second time this has happened and you have to call the CSR at Penfed and have them put a request in to change it to the term you want.
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ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
1. Sunday, February 12, 2012 - 10:32 AM
Can someone tell me why I cannot get my post to appear?  I have logged in but nothing comes up.  Thanks!
1
ApacheApache43 posts since
Dec 5, 2011
Rep Points: 565
2. Sunday, February 12, 2012 - 10:35 AM
Shorebreak:  I hope to purchase the Penfed 7yr CD this week.  I was told by the rep that once the funds are in the savings account that I can just call them and buy it over the phone.  Have you ever done this and found it just as fast and accurate as doing it on line?  Thanks!
2
ApacheApache43 posts since
Dec 5, 2011
Rep Points: 565
3. Sunday, February 12, 2012 - 1:02 PM
Re: Apache Sunday, February 12, 2012 - 10:35 AM

Should be no problem. I believe I used to do that in my pre-internet days. They will probably send you some paperwork to sign after it's opened.
2
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
4. Monday, February 13, 2012 - 4:41 PM
While you have them on the phone, make sure the interest is being credited to where you want it to go. They automatically reinvest it back into the certificate unless you specify otherwise. You can have it transferred to an existing deposit account with Penfed or have a check sent to you each month.
3
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
5. Monday, February 13, 2012 - 10:22 PM
Thanks Shorebreak.  I want the checks mailed to me.  That is why I like to be able to go into the bank or CU and doublecheck the CD.
2
ApacheApache43 posts since
Dec 5, 2011
Rep Points: 565
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