Andrews Federal Credit Union Has 6-Month CD (3.25% APY) For One Week

POSTED ON BY

UPDATE 2/25/2019: The Special 6-Month Share Certificate can now be opened. There’s an online application link at the credit union’s Special Offers page.

Deal Summary: Special 6-month Share Certificate, 3.25% APY, $1k min/$250k max deposit, limit of one per member, new money OR checking account, debit card, and direct deposit of $750+, available February 25 through March 2, 2019.

Availability: Easy membership requirement

February 25 through March 2 is “Military Saves Week,” a campaign coordinated by the Consumer Federation of America and is dedicated,

to helping service members and their families save money, reduce debt, and build wealth.

More than 80 banks and credit unions are participating in Military Saves Week 2019, including Andrews Federal Credit Union (Andrews Federal), which will be offering a Special 6-month Share Certificate (3.25% APY) between February 25 and March 2, 2019. The minimum opening deposit is $1k and is capped at $250k. New money is required, or “the member must have a checking account, debit card, and direct deposit of $750 or more per month.” There is also a limit of one 6-month Certificate per member.

Note: All Andrews Federal members are able to open a Special 6-month Share Certificate. Even though it's only available during Military Saves Week, no military relationship is necessary.

IRA or not?

There’s no mention of an IRA in the fine print, but in the past, Andrews Federal CD Specials have not offered an IRA option. I will update this blog post when I have a definitive answer from the Credit Union.

UPDATE 2/19/2019: Not available as an IRA.

As stated in Andrews Federal's Truth-in-Savings document, the Early Withdrawal Penalty (EWP) reads as follows:

If your account has an original maturity date of less than
24 months, we will charge a penalty equal to 90 days of dividends.

Thanks to DA reader, Eil, for the Forum post about Andrews Federal’s Special 6-month Share Certificate.

Other Short-Term Certificates

Andrews Federal has been offering very competitive short-term Certificates for the past eight months. DA members who regularly read the bi-weekly CD Rates Summary have seen Andrews Federal’s 8- and 9-month Certificates near or at the top of the “Under 1-Year CD Rates” category.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.86%$1k-Andrews Federal Credit Union8 Month Certificate Special
2.75%$1k$250kAndrews Federal Credit Union9 Month Certificate Special
Rates as of March 22, 2019.

84-month Certificate Special

At the other end of the term spectrum, Andrews Federal's 84-month Certificate Special currently earns 3.45% APY. This Special has become more attractive for two reasons: 1) interest rates may have peaked for this cycle, and 2) the Early Withdrawal Penalty is only 180 days of dividends. If rates should drop in the next few years, your investment will continue to earn 3.45% APY through 2026. If another rising rate cycle begins before the seven years is up, you would only lose six months of interest on any withdrawal.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.45%$1k-Andrews Federal Credit Union84 Month Certificate Special
Rates as of March 22, 2019.

UPDATE 2/18/2019: DA reader, Anon, posted the following in the comments section below:

I went to open the 84 month CD last week. At the last step of the opening process
a pop up window appears with terms and conditions. It states the ewp is 360 days.

Even though the Truth-in-Savings document states,

If your account has an original maturity date of 24 months or
greater, we will charge a penalty equal to 180 days of dividends,

it's quite possible that Andrews Federal has a newer version of the Truth-in-Savings document specific to Certificate Specials. I'll check with the Credit Union, and update this post when I receive the latest EWP information.

UPDATE 2/22/2019: Andrews Federal confirmed today that the EWP for the 84-month CD is definitely 180 days of dividends.

UPDATE 3/2/2019: The fine print (footnote 6) on the Special Certificates Rate page has been updated and reads:

The Special 84-Month Certificate has a penalty equal to 360 days of dividends.

Availability

Headquartered in Suitland, Maryland, Andrews Federal Credit Union’s field of membership includes virtually all U.S. citizens and resident aliens with a valid Social Security number.

Easy Membership Requirement - Members of the American Consumer Council (ACC) are eligible to join Andrews Federal.

Note: Andrews Federal's online application asks for your ACC membership number; in other words, you must join ACC prior to joining Andrews Federal. As stated in the online application, “You can join ACC at no charge by using the promo code – Andrews."

Residency - Individuals who live, work, worship, or attend school in Washington, D.C. qualify for membership.

Military Relationship - Civilian and military personnel of Joint Base Andrews, Joint Base McGuire-Dix-Lakehurst, and military installations in central Germany, Belgium, and The Netherlands are also eligible to join.

Employment/Association - More than 200 groups in Maryland, New Jersey, and Virginia offer Andrews Federal membership as a benefit.

Family Membership - Immediate family members (spouse, child, sibling, parent, grandparent, or grandchild) of an existing member, or household members of an existing member are eligible to join.

Joining Andrews Federal and/or opening a Special Certificate Special can be done online, or at any of ten U.S. branches located in Maryland (3), New Jersey (3), Virginia (2), and the District of Columbia (2). Andrews Federal also has branches associated with military bases in Germany, The Netherlands, and Belgium.

Credit Union Overview

Andrews Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 3.81% (excellent), based on September 30, 2018 data. In the past year, Andrews Federal has increased its non-brokered deposits by $103.95 million, an excellent annual growth rate of 7.77% APY. Please refer to our financial overview of Andrews Federal Credit Union (NCUA Charter # 5754) for more details.

Andrews Federal Credit Union was established in 1948, when eight individuals each deposited $5 to form a credit union that would address the personal financial needs of military and civilian personnel at Andrews Air Force Base. Seventy-one years later, Andrews Federal is Maryland’s fourth largest credit union and the 150th largest credit union in the country, with more than 128,000 members and assets in excess of $1.7 billion.

How the Special Share Certificate Compares

When compared to current nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, Andrews Federal Credit Union's Special 6-month Share Certificate APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.25% APYSpecial 6-Month Share CertificateAndrews Federal Credit Union
2.86% APY8-Month Certificate SpecialAndrews Federal Credit Union
2.78% APY6-Month Share Certificate SpecialInterior Federal Credit Union
2.75% APY9-Month Certificate SpecialAndrews Federal Credit Union

The above rates are accurate as of 2/18/2019.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: New York CD rates, Philadelphia CD rates, Washington CD rates, Columbia CD rates, St. Louis CD rates, Abilene CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
Anon
Anon   |     |   Comment #1
I went to open the 84 month CD last week. At the last step of the opening process a pop up window appears with terms and conditions. It states the ewp is 360 days.
Yikes!
Yikes!   |     |   Comment #4
Yeah, I saw that 365 ewp.
Andrews Federal
Andrews Federal   |     |   Comment #124
The current Early Withdrawal Penalty for a 84-month certificate at Andrews Federal Credit is 180-days.
Anon
Anon   |     |   Comment #137
Do you represent Andrews Federal? Why does the popup document when applying state 360 days?
AnnO
AnnO   |     |   Comment #159
"Do you represent Andrews Federal?"

Doubtful. I think this is that annoying person who insists on using the username field as a subject line. Yet another great example of why they should finally stop doing that.
#183 - This comment has been removed for violating our comment policy.
360 Day EWP!
360 Day EWP!   |     |   Comment #404
They have updated the certification information online. The EWP is 360 days of dividends!
6 Special 84-Month Certificate offer and stated APY may change at any time. APY effective November 23, 2018, is 3.45 %; interest rate is 3.392%. Certificate has a $1,000 minimum and a $250,000 maximum balance. Must maintain a minimum $1,000 balance to earn the advertised APY. At maturity, all 84-Month Certificates will automatically renew at the 84 -Month share certificate rate and term. Each individual member limited to one Special 84-Month Certificate. The Special 84-Month Certificate has a penalty equal to 360 days of dividends.?
nancy I DON'T SUPPORT OUR OWN pelosi
nancy I DON'T SUPPORT OUR OWN pelosi   |     |   Comment #2
We were going to do NFCU, but rate is better so now we have time to move cash.
RonPaul
RonPaul   |     |   Comment #3
do they do a hard credit check?
HighYield
HighYield   |     |   Comment #5
Ron Paul. I believe they did a full credit check on me. Including Checkex? I had to unfreeze my credi reports. Still waiting for an approval, going on 2 weeks.
scottj
scottj   |     |   Comment #26
Hard pull and after 2 weeks still waiting for approval? Not worth the trouble opening this to me. thanks to advice I got here am now a member of Navy FCU and will take their 6 month 3% over this
RJM
RJM   |     |   Comment #38
I am sure I did not have a hard pull and it might have taken a few days at most when I opened my account.

Of course, I have never frozen my credit either. I think it's overkill for 90% of the posters here.
scottj
scottj   |     |   Comment #47
For the heck of it I did application to join. My credit is frozen and I didnt unfreeze but did get verification questions and answered those. Then got the message that application is being reviewed, will see
RJM
RJM   |     |   Comment #70
I can't understand how it could take 2 weeks for anyone. I would call within 2 business days if I did not have an account number by then. I'd be on the phone with a manager wanting to know the hold up.
BPS
BPS   |     |   Comment #131
Yes, they do a hard credit pull.
111
111   |     |   Comment #6
I bought the Andrews 84-month CD paying 3.00% In November 2016. At that time, there was a hard credit pull from either TransUnion or Equifax (can't recall which). I don't know if they also did a ChexSystems inquiry.

That CD definitely has a 180-day EWP - it's listed unequivocally in their "Truth in Savings" document. Of course, that's been a while, so they may have changed their EWP policies since then.
Anon
Anon   |     |   Comment #8
Their truth in savings says 180 days but when you go to open the account a popup document says 360 days which you have to check a box to accept and you can also check a box to email the terms to yourself.
111
111   |     |   Comment #19
Interesting about the pop-up saying an EWP of 360 days, not 180. I did NOT have that happen back in November 2016 - I saved screenshots of everything I did online with them during my account and CD opening. I even have a secured email from a CSR stating that it's 180 days.

But that was over 2 years ago. I wonder if they've decided to add the 360-day requirement and were just too lazy to change their Truth in Savings documents?
Sylvia
Sylvia   |     |   Comment #11
Hard credit pull occurred on TransUnion. Reason given was "credit transaction," which I still find galling.
111
111   |     |   Comment #20
Same here, even though I opened only a checking account (WITHOUT overdraft protection), and 2 CDs. Annoying.
Riley30
Riley30   |     |   Comment #30
Are you sure about that? I just chatted with a CSR and she told me its a Soft Pull when opening a Savings and CD accounts.
Is there some statement during the application process that says your'e authorizing a hard credit pull?
111
111   |     |   Comment #42
#30 - I'm very sure I got a hard credit pull. It remained on my report from November 2016 until a couple of months ago. But, your post said "savings account and CD" - mine was "opening a membership, checking account and CD" (actually, 2 CDs). That may be the difference. Also, mine was a while back (November 2016).
Sylvia
Sylvia   |     |   Comment #50
I, too, asked in advance and was assured that it would be a soft pull. When reviewing my credit reports, I'm reminded of the hard inquiry, and Andrews' poor communications. I don't think their reps even know the difference between hard and soft inquiries. By the way, besides the requisite savings account, I opened only a CD. No checking, nothing else.
Hans
Hans   |     |   Comment #73
#50, they do, but they do not want to lose you as customer, take it as part of doing misleading business.
RJM
RJM   |     |   Comment #37
I am pretty sure Andrews did not do a hard pull for me. I know Keesler did. But, my score is high enough and my need for credit low enough that my score dropping 50-75 points would not be a big deal to me.

I am not going to pass on a good deal over a possible hard pull. Maybe a marginal one.

I am more worried about getting rejected because of my Chexsystems showing too many new accounts in the last year.
larry
larry   |     |   Comment #138
75 point drop in credit score sounds really excessive for a hp like this.
RJM
RJM   |     |   Comment #140
I did not mean any hard pull would knock a score down that much, I meant if I happen to have 4-5 in a short period of time from rate chasing and it did total 75 points, it would not be a big concern.
Again, I don't think they did a hard pull on me back whenever.
Riley30
Riley30   |     |   Comment #63
Was there a part of the Application process that specifically asked your Authorization for a Hard Credit pull?
It shouldn't have to be a best guess when you're opening a account if a soft or hard pull is gonna be done.
Obviously seems like CSR have no clue or can just lie to get you to open the account.
RJM
RJM   |     |   Comment #67
a single CSR might be wrong but they would not purposely lie about it. They don't care if you open an account or not. Ask for a manager if you are unsure.

Also, it might only be a hard pull for some but not others based on who knows what.

I've seen a number of people saying accounts had hard pulls where I know they did not for me.

Of course, Im a lifelong american with a background that may preclude the need for a hard pull?

But, if the 10-20 points of a hard pull is going to ruin your life, I don't know what to say. I wont let a possible hard pull stand in the way of an above market deal.
Competent
Competent   |     |   Comment #7
VERY carefully check your 1099 with these guys, especially if you have EWPs. Got incorrect EWP on my 1099 and kept getting the same "someone will follow up" to each of my calls and messages. Filed a CFPB complaint but they don't handle NCUA entities. Eventually got the correct 1099 but the time/hassle was not worth it IMO. Will be canceling my membership.
Sylvia
Sylvia   |     |   Comment #12
Competent, sorry to hear about your experience. Andrews is notoriously incompetent so not surprising, I'm sad to say.
AnnO
AnnO   |     |   Comment #160
How wrong was it?
Sams
Sams   |     |   Comment #9
deplorable 1, this is an example to learn about the misleading APR and APY on CD with less than a year term.
Andrews just confirmed to me that there is no compounding for the first 6 months, if you renew it you make your own compounding by keeping the interest earn after the 6 months and buy another 6 months CD (provided that the new 6 months CD will have same APR).
The APR is 3.21% and you get at 6 months only 1.60% interest deposited in your account. APY is not correct because there is no compounding for the first 6 months and the APR=APY. Something to learn from experience posters.
nancy I DON'T SUPPORT OUR OWN pelosi
nancy I DON'T SUPPORT OUR OWN pelosi   |     |   Comment #10
Comment #9 That is total nonsense 1.60%
Joel
Joel   |     |   Comment #13
#10, please tell us how much money will be deposited in my account after the 6 mo CD matures?
Test3
Test3   |     |   Comment #15
The RATE is 3.21%. Since it's only HALF a year, nancy is dividing that in HALF. But you get to keep your money and put it somewhere else after the six months is up. They don't lock down your money for another six months and give you zero.
Mathew
Mathew   |     |   Comment #16
Yeah Nanci, please tell me too, I'm investing $100K in this 6 month CD, how much I'll get after 6 months?
P.S. I think you should consult the "deplorable 1" too, he is the expert for CDs.
deplorable 1
deplorable 1   |     |   Comment #65
$100,000 x .0325 = $3,250/2 = $1,625 at the end of the term.
Hans
Hans   |     |   Comment #74
#65 deplorable 1, misleading the readers again, there is no APY only APR, call Andrews and verify, in order to get the APY quoted you need to invest your principal and interest again (after six months) to get to the APY quoted.
At 6 months or at maturity you only get 1.6% (3.21% / 2) simple interest, I guess you never understand the APY for CDs under one year. In this case APY is not compounded unless you do a roll over.
Korry
Korry   |     |   Comment #18
nancy went silent after the nonsense "nonsense" post. It turned out it was him/her nonsense by not knowing anything about CDs advertised with less than a year term(s). Wait for the deplorable 1, he is going to agree with you.
#21 - This comment has been removed for violating our comment policy.
deplorable 1
deplorable 1   |     |   Comment #64
No CDguru YOU are trying to mislead and confuse people. The APY for this CD is correct using quarterly compounding.
$100,000 x .0325 = $3,250/2 = $1,625 at the end of the term.
Hans
Hans   |     |   Comment #75
#64, I spoke with Andrews's CSR and there is no compounding of any kind, to get that puny 0.04% compound you need to roll over the CD for another six months with the interest credited in it.
ginna
ginna   |     |   Comment #23
nancy, are going to change the screen name again, after making a !!!!!!!! of yourself.
the CHAMELEON
the CHAMELEON   |     |   Comment #40
you all have to get over the screen name change c rp.
just 'cause you cant or dont want to

if its such a big deal how 'bout all you REGISTER!
Test3
Test3   |     |   Comment #14
So it's 3.21%? If so, it is unfair for them to list the APY.
Mathew
Mathew   |     |   Comment #17
#14, they all mislead the customers, including the banks, with that APY under a year CD tricks.
RRR
RRR   |     |   Comment #44
Federal banking regulations mandate exactly how banks and credit unions must report APY. The ostensible intent of these regulations was to make the numbers more consumer friendly not less. You can argue whether or not the government’s stated goal was achieved, but don’t blame the financial institutions for reporting according to federal government mandates.
Hans
Hans   |     |   Comment #77
#44, for CDs under one year and when the CDs are quoted for a whole year, APY will never match the advertised rate. They are not lying, it is up to you to understand the mathematics involved. Every, one month CD has APR= APY and they are not lying if you read the disclosure that says the APY is valid only for the funds held at the same interest rate for one year.
DOA
DOA   |     |   Comment #25
$1,000 6 month CD 3.25% APY
Interest Compounds Monthly At 3.21% APR
Matured Value In 6 Months = $1016.16
Interest Earned In 6 months = $16.16
If this CD were to continue on earning 3.21% for 6 more months it would result
in a 3.25% Annual Pecentage Yield as shown below and that is why it
is specified as a 6 month 3.25% APY. You get the same 3.21% APR monthly compounding
with either the 6 month or the 12 month.

$1000 12 Month CD 3.25% APY
Interest Compounds Monthly At 3.21% (Same as the above 6 month)
Interest Earned In 6 Months = $16.16 (Same as the above 6 month)
Continues to earn 3.21% for 6 more months
Matured Value = $1032.58
Apy = (1032.58-1000)/1000 x 100 = 3.25%
Hancks
Hancks   |     |   Comment #29
#25, incorrect, there is no monthly compounding because the interest is posted at maturity (after 6 months have passed), if you renew the CD with the interest still in it, you will get 3.25% at the end of the year, not at 6 months.
Call Andrews, I did, there is no monthly compounding confirmed by a CSR.
DOA
DOA   |     |   Comment #72
That is true. You get the return of a 3.25 “EFFECTIVE” APY for 6 months, but you have to keep it invested for 12 months to get the full 3.25% APY return
Hans
Hans   |     |   Comment #78
#72, if that is true, why did you give your example with compounding interest, there is none in this CD?
You will get 1.6% simple interest and that is all.
Jimmy
Jimmy   |     |   Comment #39
What are you trying to pull deplorable 1, another misinformation, there is no compounding on this special CD. You get 1.6% at maturity and it is up to you to keep the interest in it and search for similar CD to get to the APY as advertised.
#41 - This comment has been removed for violating our comment policy.
deplorable 1
deplorable 1   |     |   Comment #55
@DOA: Actually the interest rate would be 3.20% APR for monthly compounding resulting in a 3.25% APY. This CD is actually compounding quarterly though so 3.21% APR is correct for quarterly compounding. Other than that your point is correct. It amazes me but people will actually argue against math.
RRR
RRR   |     |   Comment #76
#55 is correct

Given an APY of 3.25% and an APR of 3.21% the implied compounding period is quarterly, not monthly or semi-annually.

If the compounding period were monthly, the APR would be 3.20%. And if the compounding period was semi-annually, the APR would be 3.22%.

The applicable formula is APY=(1+r/n)^n – 1, where r is the APR and n is the number of periodic compounding periods per year.
Hans
Hans   |     |   Comment #79
#55 ans #76, both wrong answers, there is no compounding in this CD, you get simple interest paid at six month of 1.6% and it is up to you to re-invest the principal and the interest together for another six months (if the rate is the same) to get to the 3.25% as advertised.
DOA
DOA   |     |   Comment #82
Yes I agree, It is quarterly compounding.
Thanks.
RRR
RRR   |     |   Comment #92
@#79

I stand by what I said in #76. If the stated APY is 3.25% and the stated APR is 3.21%, then the implied compounding period is quarterly.

You are correct that in order to achieve the stated APY, you would have to reinvest the proceeds of the account for another six months after it matures at the same rate and compounding period of the original CD. That is the way banks state APY and somewhere in their disclosures there should be a disclaimer about needing to have assets on deposit for at least a full year to realize the stated APY. This is how the government mandates banks and credit unions report APY to consumers. I never said otherwise and I agree with you on that point.

However, your comment implies that interest is compounded semi-annually. If interest is compounded semi-annually, then the assumed stated APY and APR above could not be correct.

There are three possibilities.

1. The bank’s stated APY and APR are incorrect. OR;

2.The bank compounds interest quarterly but *credits* interest either semi-annually or at maturity (which in this case are the same time period). Note that compounding and crediting are two different things. OR;

3. Your analysis is wrong.

I’ve got my money on either #2 (maybe you don’t understand this concept and maybe also were given wrong information by someone and don't know how to detect it as inconsistent with the numbers) or #3.
deplorable 1
deplorable 1   |     |   Comment #97
RRR absolutely nailed it! My hat is off to you sir.
deplorable 1
deplorable 1   |     |   Comment #49
No it is compounded QUARTERLY as in every 3 months! The APY is correct and I just checked it. The interest rate is 3.21% which confirms this.
Hans
Hans   |     |   Comment #81
#49, no it is not, you do not get credit in your account of any interest until the end of 6 months (Andrews CSR called it special CD), therefore, there is no compounding of any kind. APR is 3.21% / year and if you roll over the principal and interest with same terms again, at the end of the year you would accumulate equivalent interest of 3.25%.
Since the terms will change in six months, you will never get to the advertised APY of 3.25%, but will have to go elsewhere and forget the APY, count on APR only.
larry
larry   |     |   Comment #170
Hans (Comment #81) you couldn't be more wrong because we currently have a CD with Andrews from the last deal and interest has already posted TWICE. You should listen to deplorable 1 and stop posting misinformation.
deplorable 1
deplorable 1   |     |   Comment #189
@Sams: I hope YOU took the opportunity to read through these posts and learn something. The APY was proven to be correct as several phone calls and other posters have politely pointed out.
Mak
Mak   |     |   Comment #22
3.21% or 3.25%...... the difference on a $100k CD for 6 months is about $10, not enough to worry about imo.
ginna
ginna   |     |   Comment #24
#22, you should worry about it, because it is a misleading advertisement and they fully know that they will not have to pay the APY rate quoted, unless someone is stupid enough to let it renew by itself thinking that the new 6 month CD will have the same terms.
RJM
RJM   |     |   Comment #28
So its a conspiracy by every financial institution in the country.

And rather than do a 6 month at 3.21%, sign up for a one year at 2.50%.

Real smart.

Why not start a class action lawsuit against every FI in the country? Because the attorney would LAUGH at you and your tin foil hat.
Hancks
Hancks   |     |   Comment #31
RJM, you are not getting 3.21% in 6 months on the CD, you are getting 1.6% after the maturity in (six months).
RJM
RJM   |     |   Comment #32
#31. No kidding. It does not take a math whizz to figure that out.

I fail to see what everyone is up in arms about. Of course you don't earn a years worth of interest in 6 months.

We had people posting on the 5% andrews deal saying it was a bad deal and a 3% one year CD was better. It's just over the top absurdity.
What?
What?   |     |   Comment #34
Right, but if you were to look at a 2 year CD with a 3.2% rate, you aren't getting a 3.2% yield at maturity either. Hence the "A" in APR and APY. They are annualized for an apples to apples comparison. If you want to only look at yield at maturity, that's fine but comparing deposit rates across different times frames would require you to do some math.... which would lead you to APR and APY....
deplorable 1
deplorable 1   |     |   Comment #57
No! You are getting 3.21% for 6 months.
$1,000 x .0321 = 32.10/2 = $16.05 and that would be with no compounding.
Using the stated APY of 3.25% we would get:
$1,000 x .0325 = $32.5/2 = $16.25
I don't understand how people can argue against math or assume a 0% rate of return for the following 6 months after this CD matures.
deplorable 1
deplorable 1   |     |   Comment #52
Here we go again RJM! I thought we had put this APY issue to rest. Some folks on here are thick.
RJM
RJM   |     |   Comment #60
I have to think its one or two using 5-7 monikers. Nobody could be that dense. Unless the only intent was to troll.
deplorable 1
deplorable 1   |     |   Comment #66
@RJM: I hope they are not trying to intentionally misinform and confuse people on purpose. The whole point of the APY was to make things easier to understand! What adds to the confusion besides those posters is that I have actually seen banks post inaccurate APRs and APYs that don't correspond although they are usually quick to correct them once this is pointed out.
#68 - This comment has been removed for violating our comment policy.
Petter
Petter   |     |   Comment #83
#57 ans #52, maybe you are the one who stirs controversy around here. There is no compounding on this CD, CSR confirmed it to me, it is a 6 month simple interest APR=3.21% per year and that is it. If you roll over for another six months with P and I included in it and if the rates are the , you can get that puny 0.04% compound on the interest that was paid at maturity at six months.
deplorable 1
deplorable 1   |     |   Comment #95
@Petter: The CSR was most likely wrong. Why? Because if there were no compounding of this CD then the interest rate would be 3.22% with a APR of 2.25%. I also already have a Andrews CD that is under a year and it compounds quarterly.
deplorable 1
deplorable 1   |     |   Comment #98
I meant 3.22% APR and 2.25% APY in the post above which would be compounding every 6 months.
deplorable 1
deplorable 1   |     |   Comment #99
I'm tired lets try this again 3.22% APR and 3.25% APY say goodnight Gracie!
deplorable 1
deplorable 1   |     |   Comment #56
Right I suggest that all these people claiming that All APY's for odd term CD's are incorrect form a class action "conspiracy" lawsuit. Good luck finding a attorney dumb enough to take the case.
Hancks
Hancks   |     |   Comment #27
Mak, according to your reasoning, I can advertise 5% APY but there will be no interest paid for the term of the 6 mo CD and only upon maturity and then you will be let to renew it at only 1% 6 month CD and compound the interest earned and at the end you get combined one year investment for less than 2.5% CD but adversed as 5% CD.
There is lots of manipulations on less than a year term CDs, because they use annual percentage that is divided in two parts, but you only get the first 6 months and there is no certainty that the renewal will be in your advantage.
RJM
RJM   |     |   Comment #35
The auto renewal is easy to turn off almost everywhere. I can only recall one that would not let me do it, but I am well aware when my CDs mature because I am looking for landing places well before then.

I FAIL to see any better way to compare rates. And not a single of the whiners above has put forth any reasonable argument to the contrary.

On 2/26 or 2/26 I am going to buy this CD for 6 months.

If you have a better option, by all means DO tell. Otherwise, it's a bunch of nonsense.

Cant believe Ken allows it to continue. I see it as a massive troll fest.
Smith
Smith   |     |   Comment #45
#35, how are you going to compare rates when the advertised APY is incorrect or the CU does not intend to pay it at 6 month term or there are certain conditions to meet first before that rate apply or the advertised special lasts only one week or one day or the money deposited are limited or huge amounts needed in order to get that CD or other conditions will pop up before the CD is funded?
RJM
RJM   |     |   Comment #61
#45 smith.

What , exactly is your alternative?

Hiding your money under your mattress at 0% with a risk of loss?
Mak
Mak   |     |   Comment #36
I don't quite understand what you are asking but if I open a 6 month CD and BTW I would never open a 6 month CD but if I did I am smart enough to realize that a 6 month CD is half of a one year and if I open that 6 month CD I will be darn sure to keep the maturity date written down like I do with all my CDs so I don't forget when it matures and when it does mature I will close it and find another one..... now if I can't keep track of my CDs and when they mature and it automatically matures to a lower rate than that is on me.
RichReg
RichReg   |     |   Comment #33
O.K, ...I've lost count of the number of institutions that DON'T pay interest on a monthly basis for their "specials" ;; it can be Quarterly, semi-anually, or even YEARLY.

Did it make a difference versus the competition at the time?!? H*ll no!!!
Does it ever? HIGHLY unlikely!
Let's get real people, there've got to be better hairs to split on THIS forum...
Smith
Smith   |     |   Comment #43
#33, disagree, lots of people with huge CDs are lured to the APY advertised, not the real APR, why post the APY if you do not intend to pay it?
On few million dollars CDs every 5th digit in the APY counts as good money and I'm talking about 7 or 8 digits investments. Imagine the disappointment for not getting the advertised APY.
deplorable 1
deplorable 1   |     |   Comment #59
For COMPARISON purposes! How else are you going to accurately compare interest rates with different terms and compounding frequencies? Stop with the conspiracy theories the APY on this CD is correct for quarterly compounding.
RichReg
RichReg   |     |   Comment #109
@#43 Smith; It's a metric, that's all.
NOBODY gets the APR if they reinvest the interest, they get the APY. So if there's only one interest payment, then they are the same... get it?

Ahhhh you say ..but that means I'm getting half the year's interest , not the full year!!

As deplorable mentioned: its to COMPARE, that's why its called a metric. Technically, APY (ANNUALIZED Percentage Yield), really isn't meant for returns that are measured over less than 1 year. That infers extra calculation, as opposed to the straight-forward calc used for the APR (just the rate). So banks & CUs use a formula to demonstrate an ANNUAL yield, and that's how they go about it. You don't have to like it.

Besides, if someone with MIILIONS at their disposal doesn't know the difference (or hasn't at least hired someone that does), they're already mismanaging their own funds, and should really be sticking to Treasuries and other types of fixed income, not running around the Internet looking for fund-starved credit unions.
deplorable 1
deplorable 1   |     |   Comment #46
Just in time! I was just about to open the NFCU 3% 6 Mo. CD. Good thing I held off. The APR is 3.21% with a APY of 3.25% which is correct for quarterly compounding. Oh and the APY is correct even though this is only a 6 month CD! lol
Petter
Petter   |     |   Comment #85
deplorable 1, 46
How do you get quarterly compounding when there are no payments until maturity and that APY is valid if you hold the CD for one year, misleading posts are always your specialty. Calculations are invalid on all of your samples, the money are credited at the end of six months only and there is no compounding, ask a CSR to verify before making fool of yourself.
larry
larry   |     |   Comment #90
d1 exactly! I couldn't have said it better myself. Ride this CD into the fall where we should have maybe two more rate hikes.
111
111   |     |   Comment #48
For anyone who has used Andrews RECENTLY (because, since I joined Andrews and got CDs in 2016, I've not done much with them except download statements) -

1) Are they a member of the CU Shared Branching network? I don't mean just the CU Shared ATM network, but actual Shared Branching, where you could perform many Andrews functions at your local Shared Branch CU?

2) If so - I've read in depositaccounts.com that at least 1 other CU which offers Shared Branching, NASA, seems to have put some limitations on it, at least for some members. Has anyone here heard of that happening with Andrews?
deplorable 1
deplorable 1   |     |   Comment #51
Yes they do have shared branching and the limits imposed can be those of the shared branch itself. Check here for shared branches in your location:
https://andrewsfcu.locatorsearch.com/index.aspx?s=FCS
nancy I DON'T SUPPORT OUR OWN pelosi
nancy I DON'T SUPPORT OUR OWN pelosi   |     |   Comment #54
Comment #48 1) Yes 2) not sure, but I"ve given them a check for $250k
111
111   |     |   Comment #58
#51, #54 - Thanks for the responses. The Shared Branch may be my simplest option, for Andrews. Even though the CUs that "host" shared branching are paid something to do this (or so I'm told), I still feel a little like a beggar every time I go there, since I'm not a member of that small CU. I should bring them some donuts or something...
deplorable 1
deplorable 1   |     |   Comment #62
When I went to Christian Financial credit union it was like pulling teeth to get them to take my $85,000 CD deposit. Watch out for the transfer and deposit limits of the shared branch and be sure to call first and double check. I had to go back a second day to get it done.
RJM
RJM   |     |   Comment #69
i never feel like a beggar. These credit unions all want to be part of the shared branch system and its more of a professional courtesy between them all. If they are paid anything, It can't be much.

Mine take no more than 60 seconds when i get to the teller. Sign my name twice and give them my drivers license and last 4 of SSS#.

I have done these at 3 different CUs, 2 I am a member of and 1 I am not, but use the most. That branch is never anything but professional to me despite not being a member.
111
111   |     |   Comment #71
I was halfway joking about the "beggar" thing, but I have heard that the hosting CUs are indeed paid a small per-transaction fee by the CU which is being "accessed" (in this case, Andrews). Which makes perfect sense to me - in my locale, for example, the CU that hosts shared branching is quite small, and there's only 1. Were they to stop doing this, we'd have to rearrange some things and maybe do some otherwise-unnecessary travel.

I've also heard that the per-transaction fees are part of the reason that some of the larger CUs (I can specifically mention Alliant, and Navy) have chosen to NOT utilize "shared branching", because they feel they've already spent sufficient funds on their web-based resources to enable most of their customers to satisfy their needs that way.

In any case, I'll continue to use my local "hosting" CU for as long as they provide shared-branch services - which I hope is a long time.
Sylvia
Sylvia   |     |   Comment #84
111 (#71), I figured they were compensated w/fees as well. I also think the fees vary based on subscription package, which is why when you inquire about a service, e.g., check issuance, the reps need to know home CU as not all subscribe to same services.

Regarding your urge to bring donuts, please don't. You'll make the rest of us look bad with your thoughtfulness. If you need to find a home for those treats, bring them here to DA. We'll finish them off in no time.
deplorable 1
deplorable 1   |     |   Comment #53
I have the Andrews 8 month CD special and it compounds quarterly. It has a 2.722% APR with a 2.75% APY. This is correct for quarterly compounding. I am going to assume this CD compounds quarterly as well. Why? Because the interest rate is 3.21% and with quarterly compounding that brings the APY to 3.25%. In other words the ONLY way this CD would have a APY of 3.25% is with quarterly compounding. Use this calculator and plug in the numbers yourself.
https://www.omnicalculator.com/finance/apy
Petter
Petter   |     |   Comment #86
deplorable 1, not again with your compounding, you get paid on this CD only once, at maturity, invest you money and the interest again for 6 months and you get another payment at 6 months that will equal the 3.25% ANNUAL interest rate. No compounding of any kind are needed, this is only simple interest paid CD.
RRR
RRR   |     |   Comment #104
@#86

Please see comment #82.

I have not verified that the CU is stating 3.25% APY and 3.21% APR, but I will assume that it is based on information in these comments. If so than the explanation in #86 should reconcile your understanding with what #53 says.
RRR
RRR   |     |   Comment #105
Correction:
Please see comment #92, not comment #82
deplorable 1
deplorable 1   |     |   Comment #111
No you are wrong Petter. See RRR's comment #92! The Andrews "special" CD's compound quarterly! I don't care what that CSR said. You are aware that CSR's can be and often are wrong? In order for the APY to be 3.25% the APR MUST BE 3.21% which implies Quarterly compounding. If this CD compounded semi annually the APR would be 3.22%.
username
username   |     |   Comment #88
I can use 16 bucks! Where do I send my thousand dollars
deplorable 1
deplorable 1   |     |   Comment #110
I meant to say I have the 9 month Andrews CD in the post above.
RJM
RJM   |     |   Comment #80
Attn legit posters:

We are feeding a troll or two using multiple monikers. We need to stop replying to them.

All of us know they are full of it.
#87 - This comment has been removed for violating our comment policy.
DOA
DOA   |     |   Comment #91
This link has a handy calculator on APY.
https://www.omnicalculator.com/finance/apy
JDubs
JDubs   |     |   Comment #93
How are they defining "new money"? If I move money in this week, will that count, or does it need to hit 2/25+?
RJM
RJM   |     |   Comment #96
Call & ask. Or better yet, wait until Monday. I see no reason to move it sooner if you can't open the CD until the 25th or later. I am doing a shared branch deposit monday or tuesday. If you are new to the credit union, go ahead & join and maybe send the $5 in now or maybe you can include that monday or tuesday?

When I joined, I made a large deposit for the CD amount plus the $5 share account amount, then I called in and had them open the CD the same day.
Decades
Decades   |     |   Comment #94
If I move money there now will they consider it not new money?
HighYield
HighYield   |     |   Comment #100
The 10K I was going to put in that CD special, would only earn about 163 bucks in interest? Hardly worth the very long application & membership process. And I never heard back from them so I cancelled. Good luck to all.
Josef
Josef   |     |   Comment #103
#100, Put you $10K in 2.5% saving account and at the end of 6 months you will have about $130 earned in interest, this CD will bring you around $160 for difference of $30, not worth chasing a dud and your money are liquid for other uses should an opportunity arises later on. Being liquid for $30 difference it is a bargain, I'll do it any time.
HighYield
HighYield   |     |   Comment #107
Josef, That makes a lot of sense. Thanks. (I keep forgetting that I'm just a "small fry" investor. :-))
penny poor
penny poor   |     |   Comment #108
that is why young people dont save . 10K not small change and you dont get much for the time you spent getting it in the first place
dollarsncents
dollarsncents   |     |   Comment #157
No, penny poor, comment #108, the reason young people don't save is because they want everything NOW. They don't want to save until they can actually afford those trendy but unnecessary items.

When we were just kids, my parents taught us kids to save for what we wanted even when our savings didn't go into a bank and earned "0" interest.

Ben Franklin quote: "A penny saved is a penny earned". Still holds true even if not practiced in today's world of the "must have" commercialism mentality.
DOA
DOA   |     |   Comment #158
My granddad always told me “If you take care of your pennies, your dollars will take care of thereselves”. Anyway for a young person who wants to save, it definitely is a tough environment with these ultra low interest rates. If I was a young person, I would at least be socking away all I could in a Roth IRA and putting the amount that my company would match in a 401K. These low 3% CD rates are not much of an investment for a young person. It takes apx. 24 years for a 3% rate to double an investment in value.
deplorable 1
deplorable 1   |     |   Comment #188
Great advice DOA! I would also be doing bank bonuses with small amounts of liquid cash so you could easily double that 3% and actually grow that savings. I used to do bank bonuses all the time even as a kid just starting out banking. Discover used to give a 10% bonus for depositing your tax refund check in their savers account. I wish they still did that!
deplorable 1
deplorable 1   |     |   Comment #149
So what if you only have $10,000 if you want to get to $15,000 then you need to grow it. Logic like that escapes me. I always put my cash where it will earn the most whether it is $100 or $100,000 or $1,000,000 the same financial rules apply. Now if you were going to do a bank bonus with that liquid cash I could see passing on this deal.
HighYield
HighYield   |     |   Comment #156
@deplorable1: Agree, to a certain extent. Maybe that's good for younger people. But at my age, I don't want to go crazy with this stuff or become obsessed with it. I am blessed with two pensions and plenty of savings. Good luck to you. (And Andrews never replied to my application, and no reply to my two secure messages via their website.)

As RJM would say... "Boo Hoo." LOL!!!!
Gloria
Gloria   |     |   Comment #101
#94, you have to open the CD first then fund the CD with new money. Do not send anything until approved and the CD is opened.
Jennifer
Jennifer   |     |   Comment #102
New Money? Does anybody know what they consider new money?
If I send an ACH from another bank to my Andrews savings account and then phone Andrews to open this CD will it be ok? Or will they say "since it is in your savings, it isn't new money"?
Do i have to somehow get them to pull the money over directly from another bank directly into the new CD?
Josef
Josef   |     |   Comment #106
Jennifer, do not send the money, open the CD first then call and fund it with ACH or what ever their procedure is for funding. If the money arrives first, before the CD is opened, it is considered old money.
deplorable 1
deplorable 1   |     |   Comment #112
From Andrews website: "The daily limit for inbound and outbound transfers is $5,000. The monthly limit for inbound and outbound transfers is $25,000."
I think this is why I had to write a check and use the shared branch to open the 9 month special. I just linked another account for ACH transfers and those limits popped up. I'm going to call them and see if I can get that limit increased to open this CD.
Jennifer
Jennifer   |     |   Comment #113
I don't initiate ACH transfers on the Andrews website as their limits are so low. I originate the ACH at another institution with higher limits and then those limits don't apply (at least not in the past).
HighYield
HighYield   |     |   Comment #115
I'm finally tired of filling out applications. Always searching for higher rates. Messing around with ACH rules. Looking for shared branches. I got cd's stacked from floor to ceiling! No wonder Andrews won't reply back to me. LOL!!

The heck with it. It's time to start enjoying my hard-earned money, and have some fun with it! Dammit, I'm getting too old. All I did was WORK... and save. It's time to start SPENDING it! Life is too short. I never even took a real vacation. I'm 65.

Die broke. :-)
Sylvia
Sylvia   |     |   Comment #116
deplorable1 (#112), do you not have your Andrews account verified with an external financial institution that has higher limits? That linkage will also come in handy when you want to pull out funds at maturity.
Jennifer
Jennifer   |     |   Comment #114
I just spoke with Andrews and they said the best procedure is to go ahead and put the money into the Andrews savings account and then to contact them to open the CD on Monday when the promotion starts. They said it will still be considered new money. They said they don't have a way to open a CD with a zero balance and then move the money over after the fact. Money must be in savings prior to opening CD per the person i spoke with.
confused
confused   |     |   Comment #117
Yes but, how much can you transfer to the savings account? Somebody said only $1000?
deplorable 1
deplorable 1   |     |   Comment #118
It says the ACH limits are for INBOUND transfers as well. I take that to mean even when pushed from external 3rd party banks. I'm waiting on hold currently trying to verify this. I will also ask all pertinent questions about this new CD and post back.
Jennifer
Jennifer   |     |   Comment #119
It is referring to inbound transfers when the ACH is initiated on the Andrews website.

Trust me, i have done much larger ACH's when originating at another credit union with higher limits.
deplorable 1
deplorable 1   |     |   Comment #120
@Jennifer: I just got off the phone with a CSR and hammered her on the external 3rd party ACH push question and she said $5,000 limit per day and $25,000 per month. Now I'm fully aware that CSR's can be wrong but she was pretty certain about it. Can anyone else confirm if there is a ACH transfer limit using a 3rd party external bank PUSH to Andrews federal savings? I would really hate to go to a shared branch if it is unnecessary.
Sylvia
Sylvia   |     |   Comment #129
In 2017, when my CD matured, I withdrew $75K by ACH without problem. As with any financial institution, Andrews can only set the rules for what you can and can't do from their facility, not others'. (Navy manages to circumvent this in a weird way, which is a separate topic.) Andrews' CSRs are among the least knowledgeable in the biz.
Sylvia
Sylvia   |     |   Comment #130
P.S. to #129: I initiated the ACH externally.
deplorable 1
deplorable 1   |     |   Comment #148
Thanks Sylvia I'm in the process of setting up 2 banks for external ACH transfers with Andrews now. I never set them up earlier because they told me that I would need to use the shared branch and this was the ONLY way to get money in and out quickly other than paying for a wire transfer.
FrankSavage
FrankSavage   |     |   Comment #134
@D1
I pushed high 5 digits funds into my Andrews share account from my hub bank several months ago to fund their 9 month CD. Had NO problems.
deplorable 1
deplorable 1   |     |   Comment #135
Thanks Frank good to know. I think I will try external ACH push then. I can't believe that you can ask a very specific question like this and still get a wrong answer from multiple CSR's.
larry
larry   |     |   Comment #139
d1, that is bad info the CSR you talked to has given. I can absolutely tell you that if you do an external ACH transfer into Andrews with $250k or less it is a go. I know because we did it. This new rate from Andrews is going to workout perfectly because we have another CD coming due in a month. Andrews, you got your act together!
deplorable 1
deplorable 1   |     |   Comment #145
Thanks Larry! That is indeed good news as I didn't order checks for my Redneck/All America accounts and I was worried about the ACH not going through. Their CSR's need to be schooled on what a EXTERNAL ACH PUSH is. How can someone work in this industry and not get that?
deplorable 1
deplorable 1   |     |   Comment #122
Data point: Confirmed what Jennifer says with another CSR.
???
???   |     |   Comment #123
so was it the "third time's the charm" ? for you. so far you have 2 no 1 yes
deplorable 1
deplorable 1   |     |   Comment #125
My comment #122 was in response to Jennifer's comment #114. We still need more data points on how much we can ACH push into the Andrews share savings from a external bank. When I opened my 9 month CD they said they could only do $10,000 max even by phone. That's why I went to a shared branch and deposited a check. This time I would like to do a ACH push from Redneck bank for $50,000 if this is possible.
Bob
Bob   |     |   Comment #143
@deplorable 1

My 2 data points:
$65K in July 2018 for 9-month CD
$13K in Dec. 2018 for 8-month CD

In both cases initiated as an ACH push from an external bank
deplorable 1
deplorable 1   |     |   Comment #146
Thanks Bob you guys have been more useful then asking them directly!
deplorable 1
deplorable 1   |     |   Comment #127
No Josef they have to open the CD from savings. All money recently deposited into savings will count as new money for the purposes of opening this CD. Confirmed this with 2 CSR's and supervisor.
deplorable 1
deplorable 1   |     |   Comment #121
Ok guys I just got off the phone with Andrews and this CD is compounded daily and credited quarterly just as 3.21%/3.25% APY would suggest. "New" money must first be deposited into the share savings and then you can call or go online to open the CD. The only way to get a large amount of $$$ in the savings quickly is to wire it in or write a check and deposit either in person or at a shared branch. The CSR said that the ACH limits also apply when using 3rd party banks as well. I do think that some CSR's get confused between transfers initiated from their website and those initiated at the external bank. Hopefully some others can provide more data points on this.
justdoit
justdoit   |     |   Comment #151
I dont think there is a limit when transferring in (ACH) from a external account
whatever
whatever   |     |   Comment #155
Agreed with justdoit, I've been able to ACH large amounts from my brokerage to an Andrews share account no problem.
Get Real
Get Real   |     |   Comment #126
I'll pass and see what other offers come by. 6 months is a short period to put much effort into.
deplorable 1
deplorable 1   |     |   Comment #128
Not if you are already a member. Also Andrews has consistently had very good short term CD rates.
Get Real
Get Real   |     |   Comment #132
#128 I'm already a member of Andrews and I'll just pass on this one. I'll wait for another institution to come along with an offer and duration that I prefer and one I can just ACH to. Also looking at some municipal bonds that are starting to look interesting.
#133 - This comment has been removed for violating our comment policy.
AnnO
AnnO   |     |   Comment #162
Um, you can ACH to Andrews just fine. Push from another institution's website.
#142 - This comment has been removed for violating our comment policy.
111
111   |     |   Comment #136
OK, here's a different question (sorry about the length). Not about "new money/old money", or "daily limits", but a question of "can a hold be moved to a CD or not", specifically at Andrews CU. FYI I'm currently a member there.

Here's what I mean. When a paper check (written on my account at financial institution A) is either mailed to my liquid account at financial institution B, or that same check is deposited via shared branching to B, typically B puts a hold on the check for "x" number of days. We all know that, of course. But my understanding is that FIs can vary on whether the hold on this "new money" must first wait out the "x" days in the liquid account and only then be placed into a CD, or whether the hold can follow the funds into the CD, and will then wait out the rest of the "x" days while in the CD.

If you're ACHing or wiring funds, the issue doesn't come up. I initially thought I'd have this hold issue with Keesler last fall, but partly due to others' advice here I was able to avoid it.

But again, to my knowledge there is no law or NCUA rule that says that all FIs have to offer a "moveable" hold. Clearly a non-moveable hold could cause problems in hitting the 6-day window for this offer, and secondarily in having funds stuck in a low-interest Andrews liquid account for days (and they are quite low).

Does anyone have experience, with Andrews specifically, on this issue? I'll be calling a CSR to ask, but as we all know they sometimes give wrong answers.

Last time I sent money to Andrews I wired it (which I'd rather not do this time), so that doesn't answer the question. Also, that was in November 2016, so things may have changed.

Thanks for any responses.
RJM
RJM   |     |   Comment #141
Every time I have ever opened a CD with Andrews or any other FI with a shared branch deposit, I got the hold either removed or transfered to the new CD. If that is what you are asking.

I have never had to wait however many days at the low savings rate waiting for the check to come off hold. Although Andrews wanted me to.

My last shared branch with Andrews was a month ago.

So, to clarify: Make shared branch deposit, call Andrews & open the CD from that deposit. (They can put a hold on the CD)
deplorable 1
deplorable 1   |     |   Comment #147
RJM: Have you tried using a 3rd party bank to ACH push the funds in rather than going to a shared branch?
RJM
RJM   |     |   Comment #153
No. Only shared branch CUs.
AnnO
AnnO   |     |   Comment #163
When I ACH pushed into Andrews 2 years ago, I'm pretty sure I was able to open the CD the same day the funds arrived, i.e. the hold transferred.
RJM
RJM   |     |   Comment #231
I just noticed my own typo above. Keesler is the one, not Andrews who insisted on the money sitting in the share account waiting for the hold to expire. I would not accept that but it took several supervisors to agree to do it my way.

Andrews did not give me any trouble.
deplorable 1
deplorable 1   |     |   Comment #144
I deposited a check at a shared branch and remember that there was a hold but that they were able to open the CD anyway even during the hold period. I also called to open the CD after making the deposit.
Yu
Yu   |     |   Comment #197
Hi deplorable 1,
Do you mean you were able to open the CD same day that you deposited the check at the shared branch? What if it is a Friday? Andrews probably will not get the money until next Monday. In this case, what will be the start date of the CD?
deplorable 1
deplorable 1   |     |   Comment #198
Yes I was able to open it the same day by phone. If you deposit a check at a shared branch during normal banking hours on Friday and call Andrews before the close of business that day you should be good to go. If you are depositing by ACH you have to wait for the funds to arrive in the share account 2-3 days before you can open the CD.
KevinM
KevinM   |     |   Comment #150
To set up ACH from an external bank, do you just enter member number as account number, or also include suffix (with or without letter), or some other number? At another credit union, they provide a completely different number to use to set up ACH. I have routing number as 255074111. On hold with Andrews now, but thought I might get answer here faster.
larry
larry   |     |   Comment #152
(Comment #150) That routing number 255074111 is from Andrews CU. If you are setting up at your bank not Andrews you'll need Andrews checking account # and 255074111 and there should be no letters when doing this.
RJM
RJM   |     |   Comment #154
I doubt everyone has a checking account, you probably mean share/savings account.

If you mean the suffix S0000, I don't think that is needed or required. I think I liked both Ally and my broker and did not use it.
KevinM
KevinM   |     |   Comment #161
Yeah, sorry--share account, not checking. Rep didn't seem to have a clue as to what I was asking, and also said my account was "blocked", probably due to inactivity. Said someone would call me tomorrow to resolve that. I am able to log on to my account no problem.

In the meantime, Schwab offered immediate external account verification, but it failed using Andrews member number as account--perhaps because of the block/lock issue. Proceeded with trial deposit method, which hopefully will work.
RJM
RJM   |     |   Comment #165
Typo....linked, not liked. Although I guess I like them both too. Would like Ally more if they had higher rates. lol
KevinM
KevinM   |     |   Comment #191
Answering my own question, since I've got it set up now, the member number works as the account number for the share savings account--no suffix required. Trial deposits from Schwab got there next business day, for both me and my wife (instant verification at Schwab failed for both of us), but as of now, my first test ACH transfer from Schwab had not arrived by next business day.
Yu
Yu   |     |   Comment #195
How easy/difficult is it to apply for the member ship? Do they run the check system verification? Do you get 4 or 5 questions to verify your identity during the application process?
???
???   |     |   Comment #196
cant help you directly but there are 195 posts on this CU.
im sure you can find info if you use
Ctrl+F and search with keywords
Anon
Anon   |     |   Comment #164
Andrews is worth joining. They have had a series of very competitive CD specials.
Another one is Freedom CU, but their membership eligibility has been tightened since I joined.
And one more ... NASA FCU. Seems most of my money has moved from places like Penfed to these credit unions over the past 6-12 months. I hate opening new accounts as much as anyone.
justdoit
justdoit   |     |   Comment #166
Doesn't look like this CD can be opened online. I don't see it in the list of available products after logging in.
Sylvia
Sylvia   |     |   Comment #168
CD is not available until Feb. 25.
diamondx
diamondx   |     |   Comment #167
FYI; Andrews does NOT have a online option regarding your desire to close the cd at maturity. It will automatically renew. They say you can call them and designate your option, but how many phone calls will be " not received" ? It would be SO easy for them to add the online option. They have a long list of other online account options.
RJM
RJM   |     |   Comment #171
While I wish it was readily available, a lot of credit unions & smaller banks do not have great websites. For example, not all RCA account websites have a way to easily check to see if you qualified for the month. Heritage does not but I think they update the interest rate on your account to the higher rate after you qualify. So it's kind of a backdoor way. Or at least not widely disseminated.

I don't think is a conspiracy or anything. Besides, I know when my CDs mature, I set email reminders and the FIs almost always do too. And I have never had one auto renew. Don't we get 10 days to change our mind if that were to happen or no?

All that said, I secure message certainly cannot hurt.
deplorable 1
deplorable 1   |     |   Comment #172
When I called in to open my last CD with them they gave me the option to have the CD go straight to the share account at maturity. I always set these CD's NOT to auto renew.
Sam2
Sam2   |     |   Comment #179
#172, if they say we did not received your call to close it on time (and they pretend that all the times), your cookie will be burnt.
Depending on humans to do right thing, it is a wrong thing to do. Write a certified letter to them, with return signature required, then you are all set.
Jasson
Jasson   |     |   Comment #169
I just spoked with a CSR, there is no compounding on this special CD, it is simple interest paid a maturity, to get to the APY advertised she said you have to let it renew by itself. (Yeah right, let it renew by itself), because of that I will not open it.
So, for 1.6% after six months, it in not worth the hassle with this outdated CU operations.
>>>
>>>   |     |   Comment #173
I'm with Jasson.
larry
larry   |     |   Comment #174
Jasson (Comment #169)I'll tell all of you the same way I told Hans (Comment #81) you couldn't be more wrong because we currently have a CD with Andrews from the last deal and interest has already posted TWICE. You should listen to deplorable 1 and stop posting misinformation.
counting cents
counting cents   |     |   Comment #175
so at 50K do i still get right at $800
larry
larry   |     |   Comment #176
Comment #175 You do what any smart investor does and look at ROI. Plug amount invested, number of days, months or years into a into an online CD calc and find out what your return is. Then you compare it to other investments that you are pondering. If you are here to get investment advice from the forum you are in the wrong place. You need educate yourself on how money works then invest.
#175
#175   |     |   Comment #177
thank you larry very helpful
$806
Sam2
Sam2   |     |   Comment #178
larry, #174, you can not compare it with the last year CDs, this is a special CD and no normal compounding is done. Take it or leave it, on $50K you get about $800 at six months, call, if you do not believe it, that is the same thing I was told.
#180 - This comment has been removed for violating our comment policy.
#181 - This comment has been removed for violating our comment policy.
deplorable 1
deplorable 1   |     |   Comment #185
I think you are right RJM there is one troll using multiple screen names and giving himself thumbs ups. I thought that I was helping others to understand the concept of APY but I think I just ended up feeding the troll. For some reason this guy wants to waste our time, irritate people and spread misinformation. I can't imagine what type loser would waste their time like that but they are out there apparently.
DOA
DOA   |     |   Comment #186
One thing for sure, no matter what one wants to believe about APY, right and most of us know what is wrong, there is no other 6 month CD available that will pay more return than this 3.25% APY Andrews 6 month CD. So if you do not want to go out more than 6 months on a cd, for now, this is the best return you can find.
deplorable 1
deplorable 1   |     |   Comment #187
Right DOA and that's the bottom line.
#182 - This comment has been removed for violating our comment policy.
deplorable 1
deplorable 1   |     |   Comment #184
I got my external bank links set up with Andrews and I was able to scrape up $70,000 for this CD. With all the bad GM and auto news I decided to use my GM right notes cash for this CD and just leave the $500 minimum in there for now. Hopefully we will get some more CD deals in April as I have 5 CD's maturing all at once. Thanks to the advance heads up from this website I was able to prepare and get ready for this special.
111
111   |     |   Comment #190
I'll probably deposit funds in this also. I'm already a member. When I got my long-term Andrews CD in November 2016 they also had a 3-month 3% "special" CD with a 100K cap, which I bought. FYI, I had absolutely NO problem with the funds from this CD transferring to my Andrews "Base Share Savings" account, and then ACH-pulling them to another FI. (FYI, in checking my old statements I see that Andrews offered to renew at only 1.40% APY, but I said no thanks.)

Even though their website lacks a way to change my renewal option, both my Truth in Savings and my Share Certificate Disclosure documents (that last one is specific for my 2 CDs), confirm the "10-calendar day window" for making changes. I'll make a note to call them a week before maturity, have them set it the way I want it, and call and/or secure-email them 5 days later to make sure it's done right.

I have a large and a small CD maturing next month so I'm trying to save space in my few add-on CDs (they have caps) for some of that, which means some current "spare cash" can't go there, which means some of it needs to go to this Andrews deal.

Life would be simpler if rates were still rising at the same speed they were last Fall!
KevinM
KevinM   |     |   Comment #192
Anyone can calculate rate from APY or APY from rate using spreadsheet NOMINAL or EFFECT functions respectively, or by using the standard time value of money formulas. Andrews web page states that rate is 3.21%, which implies quarterly compounding (= NOMINAL(3.25%,4). If compounding were semi-annual (so no compounding during the 6-month holding period), rate would be 3.22% = NOMINAL(3.25%, 2).

Regardless of the compounding, you should earn exactly the same amount as long as the APY is what the interest calculation is based on, and they calculate the interest in a standard manner. The formula for the earned interest is: P*( (1+r/n)^(n/2)-1 ), where P is the principal (initial investment), r is the rate, and n is the number of compounding periods. For larger compounding periods (e.g., 4 instead of 2), the rate is smaller, but is compounded over more periods.

If you plug this formula into a spreadsheet, using NOMINAL to calculate the rate based on number of periods, you'll see that you earn $1,612.01 on $100K regardless of the number of compounding periods.

Andrews might do the calculations slightly differently, but it's not going to make much difference. Maybe the rate is actually 3.21% but there is no compounding during the 6-month holding period, but in that case, the APY is not 3.25% but 3.24% =EFFECT(3.21%,2). In this case you'd earn about $1,607 instead of $1,612, so about $5 less. Big deal.
deplorable 1
deplorable 1   |     |   Comment #193
@KevinM: You actually get the concept of APY though. No it's not going to make much of a difference one way or the other in terms of actual dollars unless we are talking about millions but understanding the concept is still important for comparison purposes. I came up with the same $1,612.01 using 3.25% APY $100,000 and 6 mo. quarterly compounding with my calculator. My math above(comment #64) was off a bit due to using one year with compounding then dividing by 2 which created a difference of $12.99. Still no big deal.
Yu
Yu   |     |   Comment #194
Do they offer grace period to fund the CD ? If so, how many days?
deplorable 1
deplorable 1   |     |   Comment #199
I have just ran into a hard ACH transfer cap at AllAmerica/Redneck bank. The CSR said that $50,000 is the max transfer amount that will be approved per day and that goes for both of my accounts in my name. I could call in and do a second transfer the next day however. So even with 4 accounts and 2 SS#'s the daily transfer limit would max out at $100,000/ day. Previously I had assumed the max transfer amount was double that.
Decades
Decades   |     |   Comment #200
Earlier today I initiated a 100k push from ally.,.,., says will be there Monday .... looks like Andrews about to get crushed
david
david   |     |   Comment #428
This offering from Andrews was an impressive short-term rate. However, it wasn’t as impressive as the Ally cash bonus/payback promotion which ran between 11/5/18 and 1/15/19. The effective rate that some of us received during that 72-day promotion period was about 7.25%. I hope Ally runs that promo again later this year.
RJM
RJM   |     |   Comment #201
What about a shared branch check instead?

I have a feeling Andrews is going to be hard to get ahold of next week. I wonder if waiting a day or two might be best?
er
Or maybe I should send a secure message now for them to open it money afternoon? Wonder if that would work?
deplorable 1
deplorable 1   |     |   Comment #202
I was stupid and didn't get checks with my AllAmerica/Redneck accounts. Last time I used Northern bank. Hopefully my 2 ACH transfers get there in time to open this CD. I can't start them until Monday. Redneck has usually ACH pushed funds withing 24 hrs. so I should make it Wed. or Thursday at the latest.
deplorable 1
deplorable 1   |     |   Comment #203
Right RJM be prepared to wait a hour on hold. You have to wait a half hour on a regular day! Their call back option never works for me as they never call back better to just wait. I would try to open this online but I want to make sure it gets done right so I'm calling and setting it to go into the share savings at maturity. I have a $85,000 CD with them maturing in April and I could have easily maxed this CD out at that time. I guess it goes to NFCU next.
larry
larry   |     |   Comment #204
Right d1, but that one coming due in April will set us up for the breaking CD deal. We got one account all set up for next week and the other I called the shared branch in our area to see what they required to deposit a check for Andrews. The rep was very nice, but they freaked out when I told them how much and said they will need to call Andrews and they may require me to just mail it in. That was the que for me to just go ahead and mail it in which I did on Thursday. Hopefully everything will be all set by Wednesday of next week.
deplorable 1
deplorable 1   |     |   Comment #205
Good luck Larry! You are brave to trust the U.S. mail with a time sensitive check. The shared branches in my area have low daily caps for deposits requiring multiple visits. I'm going the ACH rout this time and see how this works out.
AnnO
AnnO   |     |   Comment #413
"The shared branches in my area have low daily caps for deposits"

I'm curious what that amount is. I was able to do a $21k shared branch deposit a couple months ago, but the CU I was visiting required manager approval, a copy of my ID, and a phone call to the receiving CU.
111
111   |     |   Comment #207
Where I live we have only 1 "hosting" shared branch available (without driving 100 miles round-trip), so I checked out their rules VERY carefully early last year. They were quite precise on the issue of daily deposit limits on liquid accounts. They said they were completely a "flow-through" - in other words, their only limits were the limits of the other CU that was being accessed through shared branching. This proved accurate, since 3 times last year I made large deposits to buy CDs, using paper personal checks deposited at that hosting branch.

I did not realize that some hosting shared branch CUs had daily limits that were different than those of the CU being accessed. But since it's been about 6 months since the last time I did this, I'll probably call that hosting branch and make sure their rules on this haven't changed.
deplorable 1
deplorable 1   |     |   Comment #214
@111: Before I did this I thought the only limits were the ones imposed by the credit union you belong to not the shared branch. To me this would make logical sense because you are just using them as a hub. It was a big hassle last time and turned into a 2 day ordeal and a group event. They ended up making a one time exception for me as they could see I was getting very frustrated. It was as if these folks had never seen a $85,000 check before! In California or New York I would be considered a pauper but here in Michigan folks think I'm rich. Must be the cost of living or something. The only way I'm going to a shared branch again is if there is no other way. I may have to use Discover bank to ACH back out as they have a $250,000 limit which is much higher than most banks.
Yu
Yu   |     |   Comment #206
I applied for the Shared Savings account to join this CU last night, and the status is Pending Approval. I am not asked to upload any document at this moment. Can anyone who opened the shared savings account to join recently share the experience? In other words, were you asked to upload any document later when they reviewed your application?

Thanks.
deplorable 1
deplorable 1   |     |   Comment #210
If my memory serves me correctly I think I had to sign a signature card and mail it back to them. I don't think they requested any additional docs. The share account and CD were already opened long before I mailed back the signature card though so you should have no problems opening this CD. I would have done the application Monday though If I was looking to get this CD. Sometimes it takes a week to get everything set up with online access. You may be better off getting this opened by phone as it will be tight.
Yu
Yu   |     |   Comment #217
Thanks deplorable 1 for the response. Since I only applied for the shared savings now, the application confirmation page the signature card is not required unless a checking account is applied. I really wish I saw this post earlier, and I didn't notice this promo until Thursday and I had to call Andrews on Friday to check the CD open process. Hopefully my account can be opened in time.
KevinM
KevinM   |     |   Comment #213
I would be surprised if they don't ask for an upload of ID, such as a driver license. This is typical these days. I would at least upload this.

I think a signature card is only required for a checking account, but you can also use it to establish Payable on Death (POD) beneficiaries.

I think they are behind on opening new accounts. I'm already a member, but applied for a checking account on Wednesday while I was sorting out what account number to use for setting up my share/savings account as an external account at another bank; I also used this as an opportunity to update my beneficiaries on the signature card. I also uploaded my DL, as the one on file had expired. Anyway, the account still is in "approved pending" status, and I have received no updates or requests for additional docs.

I saw something on their website about some branches being closed due to weather, so between that and the upcoming special, they probably are more swamped than usual.
Bob
Bob   |     |   Comment #215
I have 2 CDs there. I opened the first one in July. I'm pretty sure I had to upload drivers licenses for myself and the joint owner on the account.

I remember that it was a bit of a pain to get everything set up for the first CD. I just looked at the email timeline from then. I started the process on 7/13. The approval was on 7/20. At that point I started the ACH handshake from my external bank. That was completed on 7/23. I did an ACH push from the external bank on 7/23. It arrived on 7/24 and I opened the CD on that date.
Yu
Yu   |     |   Comment #216
Hi KevinM,
When you uploaded the driver license and clicked 'Upload Document', what's the title in the dropdown did you choose? I don't see there is an entry called 'Driver License'.

Thanks.
David
David   |     |   Comment #249
KevinM, did you have your checking account approved? I was wondering how long it took.
AnnO
AnnO   |     |   Comment #414
When I joined Andrews a couple years ago, I was asked (after they reviewed the application) to upload a scan of my driver's license and a utility bill, IIRC.
RJM
RJM   |     |   Comment #208
I think we might as well wait until Tuesday to open the CD.

Otherwise, I think it would mature on Aug. 25 2019, Sunday.

I have the same thing happening with my Keesler CD. Matures on a sunday so I get very little interest in the share account.
#209 - This comment has been removed for violating our comment policy.
#212 - This comment has been removed for violating our comment policy.
deplorable 1
deplorable 1   |     |   Comment #211
Off topic: For those who do IRA CD's. What is the minimum amount I should keep in a IRA CD in order to take advantage of the best specials once my NFCU IRA CD expires? I was thinking $2,000 but after looking around some specials require $25,000 minimum. The reason I'm asking is because I'm not sure the 3.75% APY rate is good enough to keep too much cash in there as I usually max out 2 Roth IRA's in monthly paying dividend stocks yielding 10-25% annually(tax free). I just wanted to figure out how much I would need in order to get a decent selection down the road.
111
111   |     |   Comment #218
D1 - By "specials", I'm not sure whether you mean offers of a cash bonus (or possibly a certain number of "free stock trades") to transfer your IRA from Navy to another FI, or simply "special" rates on CDs from another FI. Either way, I'm not sure you'll see a "standard minimum" for these offers from the FIs - there's no law specifying a particular IRA minimum transfer amount, so they're each free to set their own. I recall seeing some that started at 25K, some at 30 or 50K, etc., but there may also be lower ones. Same with IRA (or other) CDs - each FI can set their own minimums.

Of course, you want to be aware of any fees for closing an IRA after transferring funds out to another one. Typically there are no fees for transferring, but there can be for closing. I think Navy has none (don't depend completely on that without checking), but some others do. You wouldn't want to get a cash bonus when moving to X, then find that when you closed it go to Y, X clawed back half that bonus with a closing fee.
deplorable 1
deplorable 1   |     |   Comment #219
I was just referring to IRA CD specials with higher interest rates that appear from time to time. The most I would be able to put in there would be around $25,000 by the time that CD matures and that's with maxing out contributions(Roth has low limits) I have seen IRA CD's with minimums of $50 to $100,000. Seems like $2,000-$5,000 would get you into most IRA CD's though. I kind of like having most of my Roth money in high risk though since any gains are 100% tax free for life. It makes sense to try and grow that savings as quickly as possible.
larry
larry   |     |   Comment #221
d1, wow you were able to grow your roth to $25k already? I thought you just opened it a month or two ago? You must of jumped on that rocket ship TTD that I posted on here a while back. I doubled down in Dec on that stud and it's been flying lately and reluctantly I'm thinking about hedging it now. They had a statistic on the business channel the other day and stated if you invested just $1,800 in AMZN at the IPO that investment was worth over $2 million now.
deplorable 1
deplorable 1   |     |   Comment #225
No Larry but I will be at $21,000-$25,000 by the end of this year in my Roth IRA brokerage account that I have only had for a year. This includes 2017 late contributions. I invested it in MORL at a 25% annual yield. I did the same for the wife so up to $50,000 in a bit over a year! I only have $200.78 in this NFCU CD just trying to decide where to put this year's contributions. I get to do $7,000 this year for catch up contributions as I just hit the big 50.
deplorable 1
deplorable 1   |     |   Comment #220
Thanks 111 I was not aware that there were fees to close a IRA. Maybe I'll get lucky and NFCU will be running another special and I won't even need to move it who knows.
Luvcd
Luvcd   |     |   Comment #222
Keep $1 or ...in the old Ira
111
111   |     |   Comment #223
D1 - SOME FIs charge closing fees, although I'm fairly sure Navy does not.

For example, Fidelity did until somewhat recently. A while back I wanted to close 2 Fidelity IRAs that had been created from rollovers from old jobs. Fidelity wanted a closing fee of $50 for each account - I could transfer funds out, but they insisted that $50 remain in each account to cover those fees. So I transferred the funds, leaving $50 in each. More recently Fidelity stopped charging closing fees, I think because of the competition. But some FIs still do.
Test3
Test3   |     |   Comment #229
Looks like it's live. I get to the page to transfer funds but I only have the option to transfer $10K from another bank or up to $250K from an already existing Andrews account. But I don't have the latter since I'm just signing up. Would I really need to get an extra account to transfer from that?
Sylvia
Sylvia   |     |   Comment #230
You need to have money deposited in a liquid account (share savings or checking) to fund from within.
larry
larry   |     |   Comment #232
One CD special certificate down and one to go. Got connected to a customer service rep three minutes after 8 am this morning. Now just waiting for snail mail check to show up for other account. Looks like you can initiate your own share certificate opening online if you have the correct info from the initial Andrews account opening, otherwise you have to call into csr and they will transfer you to back office to reset verification questions after proper ID.
deplorable 1
deplorable 1   |     |   Comment #233
I got my max transfer allowed from Redneck $50,000 on it's way to Andrews. Depending on how long that takes to arrive I may just open the CD with that amount. I won't be able to send the other $20,000 until the 27th at the earliest. Looks like this is only good until Saturday. Does anyone know the hours of operation for Andrews? Can this even get done on a Saturday?
deplorable 1
deplorable 1   |     |   Comment #234
Right after I sent my money to Andrews I saw Hyperion bank has a 19 month 3.5% CD! I guess I'll put the other $20,000 over there now.
Robb
Robb   |     |   Comment #235
Not sure the Hyperion deal will last long given the size of that bank. Looks like they are directly competing with Freedom which has an 18 month 3.5% deal of their own.
deplorable 1
deplorable 1   |     |   Comment #260
I saw that freedom deal but looks like it has residency restrictions even with a ACC membership.
Never Trump Repliblican
Never Trump Repliblican   |     |   Comment #236
I am a member with Andrews for a while. I was able to opened it without any issue.
#237 - This comment has been removed for violating our comment policy.
111
111   |     |   Comment #238
I was told by an Andrews CSR last Friday that a customer would be able to initiate this CD online, and as someone above said, that is now available. If you're already an Andrews member and you're logging in the way you normally do, at their "Home" tab, look for the "plus" icon which says "Add Additional Products" when you hover. Clicking on it brings up a list of their current CD offers - this one is at the top of the list.

The CSR said that if we had funding in a liquid Andrews account, we could open the CD online, BUT we could not fund it ourselves - for that, we needed to call them. Alternatively, if funding was in place we could call them, and they would both open the CD and fund it.

Of course, as we've seen throughout this thread, some of the information from the CSRs has been somewhat variable, so take that with a grain of salt.
JDubs
JDubs   |     |   Comment #372
Awesome, thanks for posting instructions on how to open the CD through online banking.
Andy Andrews
Andy Andrews   |     |   Comment #242
226+ Comments for something that nothing spectacular... and only lasts for 6 months?
How many comments for a 2 week CD? How about a speical 3-day CD?

Andrews is a very backwards credit union. Their systems don't let them make changes in the middle, if you ask for information, they often can't tell you, their telephone line doesn't offer an option to speak to a live person I could find, except to press "7" (business). That said, they did once make an exception for me, which was nice. But know what you're getting into. IMHO the hassle vs reward doesn't make sense for a 6 month CD -- especially at Andrews -- if you don't already have an account, or plan to make use of other services/CDs. I do have CDs at Andrews from before, but trying to do anything here can be like pulling teeth.
Personally, I'm waiting for a 1-day CD...
111
111   |     |   Comment #245
A few weeks ago, on the "forum" part of this website, I thought I saw a CD that some user claimed had only been open for about 9 hours, so there's your 1-day CD... I didn't really make an effort to remember much about it since the offer was already over.

Andrews' opening process was a bit of a hassle for me also, but that part is now a "sunk cost".
Never Trump Republican
Never Trump Republican   |     |   Comment #256
#242

Why not maintain a checking account with likes of PenFed, Navy, Andrwes et al with tiny balance - making sure that it's not accessed fees. I do this sort of thing with a few CUs. It help to be a "current" member to take advantage of a deal I want.
Andy A. Andrews III
Andy A. Andrews III   |     |   Comment #262
Right. Or even better... to avoid "dormant account" fees, from one credit union, set up automatic (so you don't forget) transfers of 1c to all your various primary savings accounts every half-year to keep them "active." Even if you have accounts at 10 different credit unions, that'll only cost you 20c/year -- which you can always ACH back later, if you're really counting pennies...
Never Trump Republican
Never Trump Republican   |     |   Comment #266
#262

Yes ... something like that ... I do ACH back-n-forth once a quarter to prevent account from getting flagged as dormant.
Jennifer
Jennifer   |     |   Comment #243
I opened this CD online immediately after they opened early this morning. It was easy as pie. I ACH'd the money over on Friday to my Andrews savings and this morning noticed they had received the ACH and that it was showing "available". Their website, I think it was under Options, has a link to "add additional products" and it was quick and easy. The money moved automatically from savings into the CD at the time i did the online transaction. No need to phone them if you already have an account.
redfish
redfish   |     |   Comment #248
just opened a 6mo special share account. the initial application limit seems to be 10k but later on the phone i was assured that when the application is approved and the account is actually open, they will and prefer to fund the account with a larger single ach transfer. no limit was stated. the phone wait was moderate and the csr very clear and helpful. she said she'd made a confirming note in my preliminary correspondence.
redfish
redfish   |     |   Comment #250
to be more clear, there is a box in the application that asks if one might like to open an account for more than 10k. by checking that box i think it is flagged for a return phone call or email to acknowledge the larger amount and to be sure the cd is not limited to 10k. it sounded like the initial stated amount for funding was disregarded in any case, and the actual funding would be done or confirmed when the account finalized.
cor
cor   |     |   Comment #252
opinion on which is better strategy considering future rates, this or 19 month 3.50 at Hyperion
deplorable 1
deplorable 1   |     |   Comment #255
I would say the 19 month @ 3.5%. I still needed this short term CD for paying off 0% no fee balance transfers though. You can't beat these short term CD's for 12-15 month 0% no fee balance transfer cash.
Never Trump Republican
Never Trump Republican   |     |   Comment #261
#252

I find it hard to predict, especially the future - Yogi Berra

How about divvy up between two of these.
Sam
Sam   |     |   Comment #258
Not sure where to post it, but Navy Federal has a 40 month 3.75 APY IRA
Kay
Kay   |     |   Comment #269
Anyone knows if I can open a jt CD with my spouse who isnt a member while I am. Thanks!
larry
larry   |     |   Comment #270
Comment #269 I don't see why not as long as the primary is a member of Andrews.
Kay
Kay   |     |   Comment #334
Thanks for the reply, Larry!
dollarsncents
dollarsncents   |     |   Comment #275
Yes, I currently have a CD with Andrews FCU titled jointly owned by my wife who is not a member.
julie
julie   |     |   Comment #276
Only one CD with 250k max if the joint owner is not a member?
luck
luck   |     |   Comment #280
#274, are you expecting Andrews to go belly up in 6 months?
If not, you do not need a joint owner for amounts
Mak
Mak   |     |   Comment #294
Your wife doesn't have to be a member as long as you have her listed as a joint owner on the CD, if so $500k insurance limit.
Mak
Mak   |     |   Comment #295
dollars... that is inured to $500k
Kay
Kay   |     |   Comment #335
Appreciate the infor.
Mak
Mak   |     |   Comment #296
Kay, absolutely.... https://www.youtube.com/watch?time_continue=157&v=rfu5_xIVOlY
Watch this video from ncua and especially pay attention to the 2:00 mark.
Kay
Kay   |     |   Comment #336
Thanks for the link! Will check it out. My account was opened quite a few years ago when I needed a pin enable CC for our travel to Europe. Never thought I would be getting any CD from Andrews as Penfed was all I needed. Now I have to look far and wide for a better return :) .Thanks everyone for all your feedback. Most appreciated!
#284 - This comment has been removed for violating our comment policy.
CC free money
CC free money   |     |   Comment #306
deplorable 1, I do not believe in hypothetical cases, many posters asked you for real math, not to stop a half of the way in it when you got ahead with the money shenanigan accounting. Why did you not finish the full disclosure and accounting of every penny, from bigging to the end of the money trail. When did you pay the amount to the bank(s) and with what money. How did you avoided the money advance commissions or you paid the commission 3,4,5% and you are telling us how big money expert you are on getting free credit cards money. Come clean or stop posting misinformation. If that is so profitable, we can all do it and will never have to work again. Why not borrow $1 million free CC money, what is stopping you if they are free as you indicated in many many many of your posts.?
larry
larry   |     |   Comment #310
Comment #306 did you go to college? What d1 is talking about can truly be had. I'll even throw a even better option that used to show up and that is no monthly payments for 12 months!
George
George   |     |   Comment #313
larry, the no monthly payments apply to balance transfers only, read the bank disclosure(s), if you use it to obtain free money without paying the advance fees, you are in breach of the contract with the bank. If you do not believe me, call any bank and ask if balance transfer is equal to free money advance and you will get your right answer. Avoiding advance fee by lying, can put you in big trouble. Nobody with sound mind believe the tricks of the deplorable 1, not everyone can lie and get away with it. One of these days, someone will find out that lying to the banks is punishable with criminal offense.
deplorable 1
deplorable 1   |     |   Comment #326
@ George: First of all we are talking about balance transfers here and NOT cash advances. Second there is nothing illegal about paying off ANY credit card debt with a balance transfer or even overpaying a credit card with one. Some of these offers actually come with checks and they tell you to deposit it into a bank account to pay bills. Also note that ALL balance transfers that charge a fee even if it is just .99% or $50 capped fee ALWAYS come with checks that can be deposited into a bank account. This ease of use is why I will sometimes pay a small fee to borrow money on a existing card. I just got a offer from PNC bank .99% bt fee for 21 months with checks. I took the deal and the cash was in my account the next day. I do this if I need some liquid cash and everything is tied up in CD's and investments.
Never Trump Republican
Never Trump Republican   |     |   Comment #333
#313:

I see you are not a 'believer'. That's fine.

A a point to note: Nobody is avoiding what you are calling as "advance" fees.

The other day bank charged me the advance fees, and I paid up rather promptly.

It is just that they charged me $0, so I quickly paid-up $0.

... See nobody is avoiding nothing. ;-)
deplorable 1
deplorable 1   |     |   Comment #328
@Larry: What's funny is that I only have a high school diploma. Everything I know I taught myself. I used to let folks with degrees talk down to me because I worked in a shop until I found out that I was making more money than they were. I'm not sure why but cash seems to be a great equalizer and confidence builder.
???
???   |     |   Comment #312
#306
did you even read the setup of the way he started the deal???
George
George   |     |   Comment #315
#312, we did read it, the deplorable 1 stopped in the middle of the calculations, he did not tell us in those calculations that he paid 2 or 3% balance transfer fee(s), therefore, the deplorable 1 is twisting the accounting to make him expert and with that he proved he lied to all of us. When you pay transfer fee that is equal or larger than the received interest, it is called losing proposition. You incur Federal tax on top of that and that deal is dead in the water as explained by deplorable 1.
deplorable 1
deplorable 1   |     |   Comment #321
George of the jungle: I paid $0 balance transfer fees! What part of NO FEE are you not getting? Want proof? Go here they really do exist:
https://www.doctorofcredit.com/master-list-no-fee-no-apr-balance-transfers/
deplorable 1
deplorable 1   |     |   Comment #318
@CC free money: Read my posts above I did account for it. I was able to get up to half a million once but it took time to build up those credit lines. What is stopping you from borrowing a million? Great question actually and it shows you are thinking:
1. First and foremost your credit lines. You credit lines are based on your FICO score and income level vs. bills and debt.
2. If you make it through the first hurdle then you have to find enough low 0% no/capped fee balance transfer offers. These used to be plentiful but now are harder to find. Here is a great list:
https://www.doctorofcredit.com/master-list-no-fee-no-apr-balance-transfers/
3. Banks have been putting caps on the amount you can do on balance transfers. Chase while still good now limits bt's to $15,000 every 30 days. So only $30,000 is possible withing their 60 day window. It used to be your credit line. This makes borrowing more money more challenging requiring more cards.
4. The FICO score itself will drop if you apply for too much credit too quickly or use up too much of your available credit. Managing your credit score while doing these offers requires a great amount of skill, restraint and a deep understanding of how the credit score is calculated. You must space out activity since hard credit pulls take 2 years to go away. One strategy is to apply for several cards all at once and only get hit with one hard pull. This still works as I just did this recently.

The bottom line is that with a bit of patience and time you can actually make as much income as a part time job.
larry
larry   |     |   Comment #331
d1 exactly, prior to the recent great recession and just after that these deals were around. Borrow xyz for 0% with no monthly payments for 12 months or more with zero fees on balance transfer. We got quite a few of these offers in the form you previously described in the from of 2, 3, 4 or even 5 checks all pre printed waiting for you to use. Interest rates were a lot higher then so making a sure profit was a lot easier if you had an impeccable credit score and the discipline to pay it back in a timely manner.
decades
decades   |     |   Comment #337
I used to do those deals back when interest rates were 6% . Would fill out those checks for 20 or 30k and go deposit it at my local bank , soon to be transferred to a higher rate payer . I remember the teller would say why don't you borrow money from us instead. I told him can you give me 0% interest ? I think a lot of people are not disciplined and they spend the money on nice vacations and such .
Bannie
Bannie   |     |   Comment #344
deplorable 1 #318, As per your explanation, you are telling the banks the money are for balance transfer(s), but you are advancing cash instead, isn't that illegal and in violation of the credit card agreement ?. Once I did that, but got a call back from the bank that they will charge me 3% advance fee for advancing cash instead of a real balance transfer. I returned the money and never tried that trick again.
It is not that easy to do what you did without ramification, I think, the banks will find out your mischievous behavior one day and ban you for life for opening new accounts. You are lucky you have not got in real trouble yet, but I will restrain myself from such money manipulations.
Never Trump Republican
Never Trump Republican   |     |   Comment #348
#344

Game out the " I think, the banks will find out your mischievous behavior one day" part.

How will the banks do that without hacking into some other bank? If I am doing balance transfer into Bank "A" from Bank "B", then is it not that the Bank A will need to hack into Bank B and find out if the amount they have transferred is an "over-payment". Subsequently they will need to hack yet again to find out that the "over-payment" was transferred to a checking account. No?

So game it out for us, how do you think the banks will find out?

And BTW, I assume that the Bank "B" is merely reporting the outstanding amounts to a few credit bureaus on a monthly basis, rather than transaction-by-transaction. Just don't see how can Bank "A" actually "find out" about what happens during the month on a transaction-by-transaction basis.

Personally I've engaged in what you term as "mischievous behavior". No ramifications so far. In fact quite the opposite ... I keep getting credit card balance transfer offers more and more in the mail. ... So not quite sure what's your though process.
deplorable 1
deplorable 1   |     |   Comment #356
@Bannie: I think you are getting confused between a "cash advance" and a "balance transfer". Some banks WILL treat checks as cash advances and other banks treat them as balance transfers. It is always best to call and ask. Many of the checks actually tell you to deposit them into your bank account and some have no fee.
Newbie1
Newbie1   |     |   Comment #360
D1
How many shoe boxes of credit cards do you have?
You have been very patient. I would have posted the Doctor of Credit website link right off the bat.
deplorable 1
deplorable 1   |     |   Comment #371
I have 3 boxes of credit cards:
1. Current cards for spending/wallet
2. Current cards for balance transfers/locked drawer
3. Obsolete old/expired/closed cards/shred box
Phil K
Phil K   |     |   Comment #405
Great story. Before financial crisis when 0% credit cards deals were rampant, my goal was to get enough interest to make my mortgage payment and I came real close. Savings rates were up to 6% then. I probably had $200-$300k in debt either at 0% or something like .99%.

I'm starting to do it again but hard to find fee free 0% credit cards that let you do that.
deplorable 1
deplorable 1   |     |   Comment #408
Here you go Phil:
https://www.doctorofcredit.com/master-list-no-fee-no-apr-balance-transfers/
and here:
https://www.magnifymoney.com/blog/balance-transfer/no-fee-balance-transfer-credit-card1322859387/
There are just barely enough offers to keep the cash rolling. At times you may have to pay it all off, close the cards, wait and start again. It does seem to be getting better though and sometimes paying a small fee is also worth it.
DMP
DMP   |     |   Comment #330
interest is compounded Quarterly...
RJM
RJM   |     |   Comment #338
75% of the posts here seem to be off topic.

Was anyone able to get Andrews on the phone yesterday? Were the waits bad?

I'm going to do a shared branch tuesday some time and when I first opened my account with them, I never was able to get them on the phone.
Anon
Anon   |     |   Comment #341
Ken, who at Andrews confirmed that the ewp for the special 84 month CD is 180 days interest? Why does the account opening document that you have to agree to and they are prepared to email to you say 360 days? I would think that 3 years from now when you try an early withdrawal, the document that you agree to today will be legally binding.
O M G
O M G   |     |   Comment #342
that 75% of the off topic posting are contributed by the top 5 PROLIFIC posters on the site
deplorable 1
deplorable 1   |     |   Comment #343
Some idiot posted how we were losing interest on this CD and we got all off topic. I'm still waiting for my transfer to come through at Andrews. It looks like maybe tomorrow I'll be able to open this. Andrews has very long hold times for me 30-60 min. RJM.
larry
larry   |     |   Comment #352
d1, trying to explain ROI to the posters you are referring to is like banging your head against the wall. If they are so concerned they should contact CFPB, FDIC or The Fed and explain to them how they are getting ripped off. Would love to hear how that goes. Call Andrews at 8 am sharp and your hold times should be less than 5 mins. I was on hold for 3 mins on Monday and had a very nice csr do our special 6 month certificate. I also asked her to have funds put in checking account upon maturity.
RJM
RJM   |     |   Comment #357
Credit unions in my area open at 9am so calling them at 8 is not going to open my CD unless it sat overnight at the low rate. I'm going to make my shared branch deposit here shortly and then come home for some long hold times I guess.
111
111   |     |   Comment #358
Maybe not? Jennifer (post #243) said "The money moved automatically from savings into the CD at the time i did the online transaction. No need to phone them if you already have an account."

That's NOT what an Andrews CSR told me - she said you could open the CD yourself online but had to call them to fund it even if the funds were already in your liquid account and "available". But, the data from their CSRs has been a bit spotty at times.
Sylvia
Sylvia   |     |   Comment #359
Difference might be in how you get money into account. Jennifer (#243) used an ACH transfer which makes money immediately available. Checks, on the other hand, are subject to holds. My ACH is expected tomorrow a.m. If money shows as available, I'm expecting to be able to open & fund CD myself online. Make calling your fallback option after first trying it yourself.
scottj
scottj   |     |   Comment #368
Will be following to see how that goes. From looking at CD application it does look like you can move money from your share savings to CD. But maybe it's like NASA where even on ACH transfer there is a hold and that is why you need to call?
Sylvia
Sylvia   |     |   Comment #369
scottyj (#368), with NASA, it's the "new money" requirement that prevents you from opening promo CD yourself. The reps are there to make sure your funding is not all from, say, a recently matured CD, making it old, not new. If you've got funds already at Andrews, no harm in trying it yourself. Could spare you an unnecessary wait on the phone. I tried the online app but was stopped in my tracks because it detected insufficient funds to meet minimum balance requirement.
AnnO
AnnO   |     |   Comment #416
For future reference, either Andrews doesn't put holds on ACH-transfered deposits, or it gets automatically moved to the CD if you use the on-hold funds to open a CD. I opened CDs there 2 years ago using funds ACHed in from another bank's website without needing to call. (As Sylvia explains, there is another reason to need to call when dealing with a 'new money' CD promo. Mine didn't require 'new money'.)
awareness
awareness   |     |   Comment #346
#342 amended
the 75% is Site WIDE for dragging
comments off topic...
waiting for [email protected])
#347 - This comment has been removed for violating our comment policy.
#350 - This comment has been removed for violating our comment policy.
#354 - This comment has been removed for violating our comment policy.
Mak
Mak   |     |   Comment #349
Over 300 comments for a 6 month CD....lol
AnnO
AnnO   |     |   Comment #418
A significant amount of the comments were not about this CD, or any CD.
Yu
Yu   |     |   Comment #351
I just got my shares savings account opened. Anyone can share how to enroll the online account access?
Question
Question   |     |   Comment #353
Does the 6 month CD need to be funded by March 2?
deplorable 1
deplorable 1   |     |   Comment #355
Yes you need to have the funds in the share savings/checking account and open the CD by 3/02/19.
Question
Question   |     |   Comment #363
Thank you for the info.
SWEandStudent
SWEandStudent   |     |   Comment #361
I have been using this site for few years and never knew people use comments. I have left the complaints for reviews few times before. I just created an account.

I found out about this last Thursday and immediately called the credit union. The call wait time is getting significantly worse last couple days. Give them call back number and expect 30-45 min wait. Here is brief timeline.
2/21: created ACC account and then as soon as i get the membership number, I opened 5 dollar saving account with Andrews Federal credit union.
2/22: still approve pending
2/25: All my fund was ready for deposit (moved all my fund from money market to my primary bank checking account). But it was still pending
2/26: Got approval in the morning around 9am. Got the membership number by message. Enroll in the online banking. Then desposit my fund by check using sister branch. They just needed my membership number. Then called Andrews Federal Credit Union again to open a CD from my deposit. Everything was done.

Believe me. I have never seen the approval takes more than 24 hours. It was driving me crazy because they had this one week window lol.
Good luck!
scottj
scottj   |     |   Comment #365
I applied for this account on February 18 and finally just got a message saying I was approved. One thing to note is I did not unfreeze my credit and figured it was taking so long because of that and I would be denied. So good to know no hard pull for me. So now need to get funds there, I started the trial deposit verification from the bank I will send funds. That should be in tomorrow and then I will be able to have funds there by Thursday or Friday latest. From skimming through sounds Iike I then have to call to transfer to the CD?
SWEandStudent
SWEandStudent   |     |   Comment #421
When I called them, they said calling them for CD was faster. Also, when I opened that 5 dollar account, the special 6 month CD wasnt offered. Another thing is external deposit usually has limitation for the amount of money.
RJM
RJM   |     |   Comment #362
I am on hold right now.

800-487-5500 Andrews press "1-3-1-2" to talk to someone.
RJM
RJM   |     |   Comment #370
First call I waited on hold about 10 minutes, it threw me in a full voice mail & cut me off. 2nd call I asked for a call back. Then I called again because I did not trust they would return the call. But they did. 45 minutes in all.
deplorable 1
deplorable 1   |     |   Comment #364
My transfer from Redneck bank appeared today in the Andrews share savings account so I called in and opened the 6 mo. CD I had to wait the typical 25-30 min. They will email all the terms. The strange thing about Andrews is that they don't show the interest rate until the first posting and they list the balance as $1,000 less than the full amount. Thanks to those who posted about no limit on external ACH push transactions.
Anon
Anon   |     |   Comment #366
I wired in funds for the 6-month 3.5% APY deal. I was already a member, so it was easy to open the CD once the funds posted to my savings account.

What makes me mad is that Andrews makes this a one week deal, so you have to get the money to them fast, right? Then they charge you a $15 incoming wire fee!
Anon
Anon   |     |   Comment #367
Sorry that should have said 6-month 3.25% APY.
PhilK
PhilK   |     |   Comment #373
I called and CSR said as long as you have application started by Friday, you can get the CD. I just applied y'day. We'll see.
TheBombingRange
TheBombingRange   |     |   Comment #374
Read through all these comments, really off topic. Like RJM and some others, I have the 9 month 2.75% APY certificate maturing in April, so I think subbing the funds in there out with this new 6 month 3.25% certificate is a good insurance policy, just like opening the NavyFed 17 month 3.25% CD with $50 with up to $50,000 of add-on deposits is good insurance against dropping rates too. I'm currently an Andrews member, just trying to recall how I did this process last time and the best way to do it this time.

Will this work?:

1. Log in to my account and open a CD by 3/2 without any initial deposit (hard pull for this, or just upon joining?)
2. Transfer money into the Andrews Savings account.
3. Call at anytime (even after the 3/2 end of the deal) to move the money from Savings into the CD (or do I need them to move it in to the CD on or before 3/2?).

If the CD can be opened any time before 3/2, even with $0 ready in any location (external or Andrews Savings), then I think I'll do this deal. But if they require an initial opening deposit on the CD as soon as you open it, it's gonna be a tighter squeeze. I'll have to move funds in and through Ally since that would allow for the funds to get there by Friday.
RJM
RJM   |     |   Comment #375
I doubt we can open a CD now and fund it in mid april when our old CD matures.

I funded this with outside money deposited at a shared branch. Then I wasted 45 minutes waiting for a rep to answer/return my call.

In April, if they have a special, we will probably need to add so much in new funds to take advantage of the new deal.
deplorable 1
deplorable 1   |     |   Comment #378
I think you need to have the cash in the share savings/checking by 3/2/19 and open the CD that day at the very latest. Unless they plan on extending this deal which I highly doubt. This isn't a add-on CD.
Sylvia
Sylvia   |     |   Comment #379
As a PSA to those eager to avoid Andrews’ interminable holds on the phone: You can open the CD yourself online if you’re already a member AND have funds available in a liquid account w/Andrews. It takes a minute, tops.

Through online banking, you specify amount of CD (min. of $1K, max of $250K), and account from which to access funds. You will also be presented with choices on dividends (keep in CD or transfer to share) and disposition of CD at maturity (renew or transfer). After agreeing to disclosure, your CD appears as open, and you get confirming details.

I pushed in money by ACH from outside. This should definitely work if you use a wire. In both instances, funds are immediately available upon receipt. I’m unsure about checks which can be subject to holds, so may require rep to manually transfer hold. Nonetheless, I encourage you to try. Could save you lots of time.
RJM
RJM   |     |   Comment #381
I would have if I could have. As you know, shared branch check deposits mean you cannot. I wish that was something they could change for those of us with other CDs. The hold does not bother me, being unable to open the CD on my own and it taking 45 minutes to get a rep on the phone does.
Sylvia
Sylvia   |     |   Comment #382
Sorry to hear about the 45 minutes wait. That's pretty abominable. I applaud your patience. I deliberated between shared branch or ACH, settling on the latter to avoid dealing w/Andrews' call center. Well, on to the next rate chasing adventure ...
RJM
RJM   |     |   Comment #383
The holds are just when they have a hot new offer I think. This latest was compounded by being only good for a week.

Not much of a hold when I opened my 8 month 2.86% last month. LOL

That one does not look too good in hindsight. But, at the time, it was the best available for a short term.

I think my upcoming maturing on 4/17 was my initial CD and that time I could not get a rep on the phone. I was supposed to be in line but the callback never came.

I sent a secure message and they opened it the next day. I later asked them to backdate it and they sent me PDF showing a copy of the CD that they did but online it still shows the 4/18 date. I asked the rep to look into that too. But I would be surprised if I don't have to argue with them on 4/17 about it.
scottj
scottj   |     |   Comment #384
Yikes they hit me for insufficient fees. They havent pulled the small amount I put in application to fund share account yet so my account showed as -$5, then my two trial deposits went in today from the account I will use to move money into there. So my account went to -$4.36 and when bank pulled back the trial deposits which they always do Andrews hit me for 2 insufficient fees totaling $64. Anyone else have that happen? I'm figuring I can get them to remove the fee's but might as well wait to see if I have to call to open CD tomorrow
RJM
RJM   |     |   Comment #385
No, but you have to be careful with the trial deposit things. I bet they will remove them for you. Most places would unless you have a history of doing it.

I went over 6 at Ally once a few years ago from the same thing and they reversed it.
Sylvia
Sylvia   |     |   Comment #390
The NSF fees happened to me with another CU. I got slapped with $96 for 3 test withdrawals while setting up CU, where I was a brand new member, to receive funds by ACH from 2 FI's. I asked that fees be removed since I was establishing links to make deposit. They complied with a no-big-deal attitude. Still, I found the incident annoying.
scottj
scottj   |     |   Comment #391
I was bored so called and just did the have them call me back option. CSR was very nice and said no problem and removed fee. Then I asked about opening the CD once funds get there and she asked how much I was opening for? when I told her she said she would put a note to check tomorrow and would get it opened for me and then call me to verify it was done.
RJM
RJM   |     |   Comment #399
Scott, you must have got a better rep. I asked monday via email for the rep to check on Tuesday but she replied back that there was no way for her to do that. There is a way, she just did not want to do it.
scottj
scottj   |     |   Comment #403
Maybe because I told her amount would be $250k ? Like she said she would she called me first thing this morning and said funds had arrived and she opened CD and was emailing me disclosures. I have looked at them yet but I'm sure she checked auto renewal, might be another reason she so kindly offered to help. So I got approved to open a account on Tues and now on Thurs CD is open funded. And a point for reference all done with no hard credit pull
DAJunkie
DAJunkie   |     |   Comment #392
Yup! Had a very similar experience with another popular CU. In that case, after
configuring my account, the $5 share funding task was left for me to complete.
Perhaps they assumed I'd only make that initial deposit at a branch or mail a
check? Of course, opting for ACH resulted in the 'chicken before the egg'
dilemma you describe. After explaining this 'Catch 22' situation, a sympathetic
rep cheerfully refunded fees. Hopefully Andrews rep will do the same for you!
Sylvia
Sylvia   |     |   Comment #394
Being somewhat cynical, the NSF fees strike me as a money grab. In my case, the test withdrawals were to offset test deposits, totaling about $1.00 altogether. Most CUs don't assess fees in such instances.
scottj
scottj   |     |   Comment #398
I don't think it's intentional and just done by computer. Since you have to have $5 in share account it showed me as negative $5 while it waited for my $5 funding to ACH in. So when the .64 cents in trial deposits went in it brought me to -$4.36. So when bank pulled it back there was no available funds which triggered the insufficient funds. When I spoke to someone about it right away she said "oh that's not good" and refunded
111
111   |     |   Comment #387
I'm on hold as well. I made my deposits (paper personal checks) to our local shared branch CU earlier today. As pretty much expected, nearly all funds show as "unavailable" due to the hold. The Andrews CSR I called last week said they had to do the funds move, even though we can open the CD ourselves online.

I think Sylvia called it - the only folks who can fund their CDs online are those who did ACH pushes or pulls. Perhaps I should have done this instead, but since my funds are coming from 3 different FIs, that method had its own set of warts in this case.

But on the bright side - I purposely didn't read my online WSJ or local paper yet because I suspected I'd have a long hold when that could be done. Plus, I'm well stocked with liquor. In my experience, liquor greatly ameliorates long hold times, and in fact considerably improves any type of financial decision! (LOL)
Sylvia
Sylvia   |     |   Comment #388
Good luck. If you're still on hold after WSJ and local paper, holler for reinforcement. I'll hunt for copy of War and Peace.
111
111   |     |   Comment #395
Thanks! Funny you should mention that - in Tolstoy's other big book, didn't he start out with "Happy phone conversations with FIs are all alike; every unhappy phone conversation with a FI is unhappy in it's own way (mainly, unhappy because of a long hold time!)". Or maybe I just imagined that.

Anyway, finally a live CSR came on. Very nice, very competent. CD was started, interest starts today, the normal stuff.

One thing that might be of use to others - I asked her, if I have a situation like this with a future Andrews "CD special" - where it might make sense for me to use Shared Branching, EXCEPT for the downside about the long hold times to have the funds moved - could I simply use their secure email to request them to start the CD and move funds? She said I could do that, but what probably what would happen is 24-48 hours later they would need to call me to confirm. So in a scenario like the current "6-day offer" that might be a problem, but maybe not in a scenario where more time was available.

Anyway, it's done.
RJM
RJM   |     |   Comment #400
The talk of liquor makes me jealous. My RLS is so bad that even a single beer will aggravate my RLS for the next 2-3 nights. And 5-6 beers would mess me up for 4-5 days.

Liquor would probably be worse.
larry
larry   |     |   Comment #386
It's becoming clear why Andrews and NFCU are offering these short term certificates with decent rates and that is cross market to you their insurance products. I think this is the fourth time we invested on these and received some kind of insurance offer snail mail.
Deep Thoughts
Deep Thoughts   |     |   Comment #389
Thank you five handle larry very good to know.
RJM
RJM   |     |   Comment #397
You know what I do with that stuff? I stuff as much of it as I can into the return envelope and mail it back to them torn in half.

One of these days, I am going to put one of those business reply envelopes on a box and have them pay for postage for a box full of junk paper. If enough of us did that, they might take the hint.

I also get plenty of junk email touting $20 off turbo tax. Yeah, its free virtually EVERYwhere and $7.95 at other places, so not pay $40-50 for turbotax?
SMH.
AnnO
AnnO   |     |   Comment #419
They only get some tiny marketing fee from those life insurance companies. The insurance is not being sold/provided by the credit union.
whatever
whatever   |     |   Comment #393
I tell you - it's like pulling teeth sometimes to figure out the Andrews User Interface. All of the ads, etc. for the 6 month special CD send you to their long delayed application process website even if you are already logged in or specify that you are an existing member. It took me forever to find how to open a new CD. An little "+" icon hidden in a long row of obscure unlabeled icons below several rows of menu tabs. You have to wand over it to find that it means add account. Frustrating! But at least I was able to specify what to do at maturity.
KevinM
KevinM   |     |   Comment #396
Funny. I was going to post that opening the Term Deposit was by far the easiest part of the process I went through. BUT, I received an email from MACU that explained how to do it when logged on (clicking the + icon first), so I just followed those instructions, and it took less than a minute. And as you say, it was nice being able to specify that the proceeds go into my Primary Savings account at maturity.
whatever
whatever   |     |   Comment #401
I never received such an email. Sure would have saved me some time and hair pulling.
SVRK
SVRK   |     |   Comment #406
I just called and after 1 hour wait on the line, got a bad rep who confused the hell out of me. When I try to open base savings and CD online, it says max limit is 10k for ACH. He is saying that if I open Base Savings by tomorrow, or apply by tomorrow, then I can open the CD later when the money is in the Savings account and still get the promo rate. Anyone else here know if that is true ? I thought CD should be opened by tomorrow.
larry
larry   |     |   Comment #407
Comment #406 That would be the complete opposite from what one of their reps told me just yesterday(Thurs) and we've had accounts with them since 2016. He said money needs to be in account before Sat at 2 pm which is when they close. Looks like we are going to miss Andrews, Grow Financial and Hyperion Bank. Was able to open up a max one through ACH with Andrews, but I stupidly tried one with snail mail.
Sylvia
Sylvia   |     |   Comment #411
Among these gazillion comments, I recall at least one other comment along these same lines, that new members get special dispensation on CD as long as apps are started before deadline.
SVRK
SVRK   |     |   Comment #427
The CSR had no idea what he was talking about. I drove 30 miles and showed up at a branch to be told by the lady there that the CD has to be opened and funded by March 2. That messed up my plans and since I was there, I wrote some checks from checking account to open the CD with nominal amount. Total waste of time.
#402 - This comment has been removed for violating our comment policy.
jill
jill   |     |   Comment #409
How do you open this account? My account just got approved today and I had to make deposit into my shared account. but after it was made when I call in to open CD that dept is already close. Would I open the CD online with the funds pending and call in Monday or what other method?
larry
larry   |     |   Comment #410
Comment #409 You should call tomorrow between 9-2 and have them open up the CD. I would not wait until Monday because it will be to late from what I've been told. The 800# is on the website. You supposedly can open it up online, but I've never done it.
Sylvia
Sylvia   |     |   Comment #412
You can only open CD yourself online if funds are marked as available. If you made the deposit today using a check, funds are most likely on hold so you would need to call in. Many comments above on this subject.
Phil K
Phil K   |     |   Comment #420
I complete online application Tuesday. Am still waiting for email "welcoming package". CSR told me I might have to also send in drivers livense and SS card images. Is that other's experience? Also said as long as I started application by Mar 2 I could get the 3.25% 6 month CD. I am nervous moving big money into the savings account there if it later turns out that I can't get the 3.25% CD.
SWEandStudent
SWEandStudent   |     |   Comment #422
I didnt know they allow you to open the CD even after that 1 week window. I guess they still have room for more money which is good. Personally, I didnt need to send any documents such as drivers license or Social security card.
larry
larry   |     |   Comment #424
Comment #422 That's why you call csr and try to negotiate with them. I had to call them twice and the second one I was able to let them consider allowing me to open my certificate next week when my check should arrive. It's been 10 days so far and they supposedly still haven't receive it.
111
111   |     |   Comment #425
I don't recall having to send in drivers license and SS card images when I joined back in Nov. 2016.
whatever
whatever   |     |   Comment #426
I think if you applied for that specific CD you should be able to get it since you applied before the deadline.
Phil K
Phil K   |     |   Comment #429
Yeah. They honored my ability to get the 3.25% 6 mo CD after Mar 2 deadline by having the application started. I opened the CD this morning over the phone with a very helpful CSR. The 2.85% 8 mo CD promo runs until the end of march.

Can anyone tell me hos the CD disclosure docs are provided? Over email?
deplorable 1
deplorable 1   |     |   Comment #431
I received a PDF file in the email with the CD terms. When you click on account info for the CD online it doesn't show the interest rate info but it does get paid out correctly on a quarterly basis.
larry
larry   |     |   Comment #432
No, it's done over secure email which btw is a separate login. Once you establish a email and password you should be able to view secured email. Our check sent via snail mail showed up today after 18 days in limbo. Called up and put the check which was on hold directly into that CD which was noted in the memo section of the check. Once funds were transferred to CD they sent a secured email which was presented in an email. That's were you had to establish an email and password of your choice. Super stoked because we established a max and then this one for 150k. Hope this helps.
redfish
redfish   |     |   Comment #430
i made my application 2/25 and have been on hold since then. i talked to the csr today and she assured me that the 6mo-3.25% rate will be honored. the next step is apparently a confirming email with new account info. she said they were overwhelmed but processing all. for the last many days it's been impossible to get through to the csrs. for me it works well to wait since i have some other maturing money coming soon which will get added.
Black Friday 8-Month CD Special At Andrews Federal
Deal Summary: 8-month Certificate Special, 2.86% APY, $1k min/$250k max deposit, limit of one per member, available starting on Friday, November 23, 2018.

Availability: Easy membership requirement

For the past five months, Andrews Federal Credit Union (Andrews Federal) 9-month Certificate Special (2.75% APY) had no real competition. That will change on Black Friday, when Andrews Federal unveils its 8-month Certificate Special (CS), which offers a 2.86% APY. Like the 9-month CS, the 8-month CS can be opened with a $1k minimum deposit, and is capped at $250k....

Continue Reading
Andrews Federal Credit Union Adds 9-Month CD Special
Deal Summary: 9-month Certificate Special, 2.75% APY, $1k minimum deposit

Availability: Easy membership requirement

It’s been more than a year since Andrews Federal Credit Union (Andrews Federal) offered a really competitive CD. The latest deal is a 9-month Certificate Special, which earns 2.75% APY. This limited-time offering can be opened with a $1k minimum deposit, and is capped at $250k.

As stated in the fine print on the Share Certificates page,

Each individual member limited to one Special
9-Month Certificate during the promotional period.


Continue Reading
Andrews FCU Hikes 12-Month CD Rate

Deal Summary: 12-month Jumbo Share Certificate, 1.45% APY, $10k minimum deposit

Availability: Easy membership requirement

Over the past year, Andrews Federal Credit Union (Andrews FCU) has offered a variety of CD Specials and competitive rates. The latest deal from Andrews FCU is the 12-month Jumbo Share Certificate (1.45% APY, $10k min). Unlike Jumbo CDs at most other institutions, this one has a relatively small minimum deposit of $10k. The 12-month Share Certificate has a rate that's just a little lower (1.41% APY, $1k min).

This Jumbo Share Certificate is...

Continue Reading
Andrews FCU Adds 84-Month Share Certificate
Availability: Easy membership requirement

Many DA readers took advantage of Andrews Federal Credit Union (Andrews FCU) Black Friday/Holiday Share Certificate deals, which expired in early January. One of those expired deals was an 84-month Share Certificate that earned 3.01% APY.

Andrews FCU has just added a “non-special” 84-month Share Certificate (3.00% APY). The minimum opening deposit is $1k, with no stated balance cap. Dividends are compounded and credited quarterly. Regular readers of DA’s CD Rates Summary are probably familiar with Andrews FCU’s 84-month IRA Certificate (3.00% APY), which...

Continue Reading
Andrews FCU Extends Black Friday CD Deals Through 12/31/2016

UPDATE 12/1/16: The Black Friday CD deals have become "Holiday" CD deals, and are extended through December 12/31/2016.

Availability: Easy membership requirement

On Monday, DA reader and contributor, ChasR, posted about Andrews Federal Credit Union (Andrews FCU) Black Friday Share Certificate deals, which are available now through November 30 December 31, 2016: 3-month Share Certificate (3.01% APY), 18-month Share Certificate (1.81% APY), and 84-month Share Certificate (3.01% APY).

The minimum opening deposit is $1k and the minimum balance to earn the stated APYs is $1k. Dividends are compounded...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.