Keesler Federal Credit Union Adds 7-Month CD


UPDATE 8/18/2018: Thanks to DA member, SYC, for posting this info in the Forum: "per CSR over phone just moments ago, this special deal will end at the close of 8/21/18. You have to have available funds in your Keesler savings account on 8/21/18 at the latest in order to open this 7-month CD special."

UPDATE 8/17/2018: The easy membership requirement through joining the American Cancer Society Cancer Action Network has been expanded to include all U.S. citizens and resident aliens, no matter where they live.

Deal Summary: 7-month Share Certificate Special, 5.00% APY, $1k minimum deposit.

Availability: Easy membership requirement for residents of Mississippi and Louisiana; residents of six southeast Mississippi counties and two southeast Louisiana parishes; employees/members of more than 300 SEGs.

I have to admit when I saw Keesler Federal Credit Union’s (KFCU) new 7-month Share Certificate Special listed at 5.00% APY, I thought it was probably a mistake. When CSR confirmed the 5.00% APY was correct, I expected to be told there was a low balance cap. Again, I was wrong. The 7-month Share Certificate Special (5.00% APY) can be opened with a $1k minimum deposit, with no stated balance cap.

This very competitive Share Certificate Special is also offered as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.

As stated in the Truth-in-Savings Disclosure, the Early Withdrawal Penalty reads as follows:

If the withdrawal does not reduce the certificate funds below the required minimum balance for this type of certificate, the member shall forfeit at the certificate rate an amount equal to the lesser of:

1. All dividends for 90 days from the amount withdrawn for certificates with a term of 1 year or less; or all dividends for 180 days on the amount withdrawn for certificates greater than 1 year; or

2. All dividends on the amount withdrawn since date of issuance or renewal.


Headquartered in Biloxi, Mississippi, Keesler Federal Credit Union’s field of membership (FOM) is quite varied, including residency, employment, and association membership as determinants.

Residency – Individuals who live, work, worship, or attend school in the Mississippi counties of Forrest, Hancock, Harrison, or Pearl River, or select census tracts in Hinds or Jackson Counties are eligible to join. Also qualifying for membership are those who live, work, worship, or attend school in select census tracts in St. Tammany or Orleans Parish, Louisiana.

Military Relationship – Active or retired military who can use the services at Keesler Air Force Base or at Royal Air Force Bases in the UK qualify for membership.

Personal Relationship – Immediate family members (spouse, parent, grandparent, sibling, child, grandchild, significant other) of a current KFCU member are welcome to apply.

SEGs – Employee and/or members of more than 300 SEGs are eligible for membership.

The fourth option on the first page of KFCU’s online membership application is “I am a member of the following association.” The first association listed is the American Cancer Society Cancer Action Network (ACS CAN), a “nonprofit, nonpartisan advocacy affiliate of the American Cancer Society” that anyone can join. Hoping this could possibly be an easy membership backdoor, I called KFCU, only to be disappointed. At first, CSR said any ACS CAN member is qualified to join KFCU, but after checking with a supervisor, she stated that only residents of Mississippi or Louisiana can qualify through ACS CAN. I wasn’t able to find this residency requirement anywhere on KFCU’s website, so I’m not 100% convinced of this limitation.

UPDATE 8/17/2018: After contacting KFCU this morning, I was told that following so much “out-of-area interest” in the 7-month Share Certificate Special, the FOM has recently been expanded to allow any U.S. citizen or resident alien to join through an ACS CAN membership, no matter their residency status.

Joining Keesler Federal Credit Union and/or opening a Share Certificate Special can be done online, or at any of 21 full-service Mississippi branches, located in Biloxi (2), Diamondhead, D’Iberville, Gautier, Gulfport (3), Hattiesburg (2), Jackson (2) Long Beach, Ocean Springs, Pascagoula, Petal, Picayune, Stennis Space Center, Vancleave, Waveland, and Wiggins. KCFU also has four Louisiana branches, located in Covington, Mandeville, and Slidell (2).

Credit Union Overview

Keesler Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 2.16% (excellent) based on March 31, 2018 data. In the past year, KFCU has increased its total non-brokered deposits by $61.9 million, an above average annual growth rate of 2.87%. Please refer to our financial overview of Keesler Federal Credit Union (NCUA Charter # 5561) for more details.

Chartered in 1947, Keesler Federal Credit Union was established by ten civil services employees at Keesler Field, the predecessor of Keesler AFB. At the end of the first year of operations, KFCU had approximately 270 members and $7k in assets. KFCU will be celebrating its 71st anniversary next month as the largest credit union in Mississippi, with more than 214,400 members and assets in excess of $2.6 billion.

How the Share Certificate Special Compares

Let me state the obvious – when compared to the similar length-of-term CDs tracked by that are available within the FOM, Keesler Federal Credit Union’s 7-Month Share Certificate Special APY currently ranks first.

The above rates are accurate as of 8/15/2018.

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

Related Pages: New Orleans CD rates, Biloxi CD rates, 1-year CD rates

Kim   |     |   Comment #1
Can confirm this CU imposes residency requirements notwithstanding it’s published criteria for membership. I qualified as active military eligible to use facilities at Keesler and applied in DEC 2017. However, my application was declined bc I didn’t reside in either LA or MS.
Dunmovin   |     |   Comment #2
Obviously a stretch...if the supr was on any type of normal bonus plan, s/he will not make the quota. Escalate or ask when membership requirements are going to properly reflect the deal...what other undisclosed items are out there?
Kim   |     |   Comment #173
Just to follow up; I've joined successfully. Thanks to those who reported success thru ACS CAN!
john   |     |   Comment #3
what happen if you are a member of an association the meet their requirement?
gregk   |     |   Comment #6
It's 7 months, - so even if we could all qualify, there's not so very much to be gained. Sure, I'd jump on it if I could, - but this is more of a tease than a truly substantial offer (unless you have millions).
Mike   |     |   Comment #8
I would take it in a heartbeat if I could. Come on gregk, 5% not good enough ?? It would be great to be longer term but 5% with no max limit is a very nice deal any way you look at it.
john   |     |   Comment #7
I don't understand that if you are a member of ACS CAN, why do you need to be a residents of Mississippi or Louisiana?
I thought if you are a resident of Mississippi or Louisiana, you're automatically qualify to join.
Reader 1
Reader 1   |     |   Comment #12
(trying for the third time without using special characters which delete entire sentences)

Here is a simple guide to membership at this CU. Hope this helps:

1. Do you reside in LA or MS?

if yes, you qualify.
if no, go to question number 2.

2. Are you a member of one of the listed associations?

if yes, go to question number 1.
if no, why are you wasting your time?
john   |     |   Comment #17
so should they just post question 1 only why bother put question 2 on?
I don't understand the logic behind it.
Anon123   |     |   Comment #19
If I'm interpreting Ken's wrote-up correctly, if you have established residency in certain counties in MS or parishes in LA, you qualify. Otherwise to qualify via membership to ACS CAN, you must reside anywhere in MS or LA.
circles   |     |   Comment #25
Wait until you see the logic in their investment decisions!
yawnnnn   |     |   Comment #14
how about a 30% CD for 2 days? I'm just saying... unless you're already a member, not worth it at all for 7 months...
Nothing   |     |   Comment #15
Unless and until people escalate these non-disclosure issues...and then to NCUA...and then to the State AG (false advertising?), etc. nothing will happen
Pat Puppael
Pat Puppael   |     |   Comment #16
Seems like a deal worth pursuing if one can get it. 5% for 7 months works out to around a 2.9% absolute return, which is a better yield than that offered by majority of 1 year CDs. Am I missing something?
Right   |     |   Comment #20
5 not 2.9!!!
RJM   |     |   Comment #21
The 2.9% is an absolute return. $100,00 becomes roughly $102,900 at maturity.

Id jump on this deal if I lived in MS.
CuriousDave   |     |   Comment #212
It may not seem logical to us individual investors, but if enough of us collectively remit enough funds for even a few days (and with a 5% teaser rate that's almost a certainty), it makes sense to the CU as it has the use of an extremely large float up to the time they reimburse the money to those they can no longer accept - which can be quite a while for those who cannot be refunded electronically.
Interested   |     |   Comment #18
Went through the membership application process to explore if I would be granted an acct. The membership application does have an option to join via association with the American Cancer Society. Filled out the membership application with all the required info. The online application got to establishing acct password, security questions, acct. funding info, etc. However at the end it notified me that not all my info could be verified and I would be contacted by a rep. Suspect I will be declined because of residency despite the membership application processing me through all the gates.
Interested   |     |   Comment #31
to follow-up on my comment #18, I did get notice today they approved my application. I am not a resident and I applied as a member of the ACS ( I joined yesterday).
123dee   |     |   Comment #32
On the ACS website there is an option to donate various amounts, and also an option for you to choose a different amount. The lowest of their options was $10, so I was wondering if you did that or if you chose a different amount?...…. $5 ?
Also, do you know who they did the credit check with? Equifax? Transunion? Experian?
Interested   |     |   Comment #34
I did the $10 donation to ACS. Don't know on the credit check.
DSRWAC   |     |   Comment #166
$10 gets you the needed membership, they send a proof of membership 36h later
JRose   |     |   Comment #22
I am not an LA or MS resident, I contacted Keesler FCU yesterday about the deal. I am retired military so meet that aspect, but they could not open the account based on that for an out of state resident, they said they would look into a way and a supervisor would call me back. I received that call this morning, they required a donation to the American Cancer Society Cancer Action Network (options on the web page are $10 and up) once I did that, I called the bank back and began the process of opening an account. I was required to forward the donation email, they did a HARD credit pull, and I will be required to return the signature card they send, but have to get it notarized and provide a copy of my drivers license. I've never had a more complicated account opening, but the account is now open, it is a savings account ($5 min) which I can then transfer funds into, and then open and fund the 7 month 5% special CD. I asked if it would still be available next week once I get all the ACH stuff validated and set up, it's obviously a limited promotion, but they have not received any end date yet. The process works if you put in some time and effort.
Army SFG
Army SFG   |     |   Comment #24
JRose #22
What information were you required to provide to validate that you are Retired Military ?
JRose   |     |   Comment #28
None, since they didn't use that for out of state membership, they used the donation to the American Cancer Society Cancer Action Network.
john   |     |   Comment #29
So they did for you with a donation to the ACS CAN even though you live out of states MS and LA. It is okay for one but not the other.
JRose   |     |   Comment #30
Yes, I don't think they had the out of state approval process in place until today.
Edward   |     |   Comment #26
It's only 7 months. They make you jump through hoops to open an account just like Sharonview did. I don't see these same people complain about it. AT least for a long term CD I don't have to deal it the hassle for years, but this one you have to go through it again when it matures in several I don't really care about an extra 1% TBH.
SYC   |     |   Comment #27
This is not intended as a reply to Comment #26.
According to CSR over phone:

1. 7-month Special CD is limited to ONE per household. (This is not stated anywhere in their website. It is in their special promotion per CSR.)

2. For those looking to open an IRA 7-month Special CD which involve direct transfers from your current trustee to Keesler, you run the risks of their 7-month Special CD withdrawn before your check is received by Keesler. (This is unlike Sharonview for those who took advantage.)
gregk   |     |   Comment #33
Is Keesler a participant in the shared Credit Union network? I'm wondering if I (an out of state resident) manage to get accepted for membership and establish a savings account, can then easily and quickly fund the CD with a shared branch deposit? Anyone accomplished this yet?
RJM   |     |   Comment #35
Apparently, yes.
Anon456   |     |   Comment #36
Today is Friday 8/17. CSR just told me that the CD special is being pulled on Tuesday. ALSO, the CD special is ONE per household. So I will be combining my wife's available cash, and mine, and doing a single larger CD. ALSO - i will be doing a check at the shared branch, and my rep said she can move the check hold onto the CD and fund the CD. SOOOooo - wish me luck.
Your Son
Your Son   |     |   Comment #37
Um, I have $400k in a 2% Popular Direct account, can you please adopt me so I can join in this CD? Dad?
git er dun
git er dun   |     |   Comment #38
SmallCU   |     |   Comment #39
For those who were lucky to open the 7mo CD, I guess they will give you run around to close it. It happened to me in a small credit union when almost everybody closed the CDs, the CU ran out of money and rolled some of the CDs into the second term claiming did not receive the letter on time to close the CD. Be careful with small CUs.
RJM   |     |   Comment #40
Mark your calendar.

MSers   |     |   Comment #41
comment deleted
Daniel   |     |   Comment #44
So for this couldn't you just close the new CD once you are into it for a few days/one week/etc. and lose nothing? Make 5% per year for the first 7 mo, then they roll it into a 0.1% 5 year CD and you cancel it you only use the 0.1% portion for however many days you forgot about it?
Common cents
Common cents   |     |   Comment #48
$2 billion is not a small credit union
yuu111   |     |   Comment #59
Disclosure states that it automatically rolls over into a 6 month CD at maturity unless you instruct them otherwise.
CuriousDave   |     |   Comment #84
This looks like a one-time bridging or float play by the CU to raise a set amount of funds by a certain date. For a very limited time they offered a very high, pre-emptive rate to ensure they would receive all the funds they needed to cover their pending due date(s), cherry-picked the applications they would allow up to the amount they needed, and, if necessary, will eventually return the money to those deemed received untimely, which provided them with free float money. The real cost to the CU will probably be negligible and their mission will be accomplished. Like Sharonview, we should not expect to see a repetition of this kind of offer from Keesler any time soon.
RJM   |     |   Comment #92
Except from all indications, they did NOT cherry pick, they even opened it up to people who otherwise would not qualify. And they could have said "no new applications" for the 5% but they didn't.

They wanted me to wire the money but I insisted on shared branch.
RJM   |     |   Comment #42
I was having an issue with the application. I had to choose I was employed by one of those groups so I called in and she took my application over the phone, did the hard pull & security questions (4 multiple choice) and got my account number.

However, we seem to have hit a snafu regarding being able to open the CD before the check clears. (At a shared branch) 

She said others have been wiring the money in so I may have to do that. She is going to call me back having already checked with her supervisor and still not getting approval.

Lovely young lady helped me.

Regarding the online application, I HAD to choose I went to USM or William Carey University. There was no other option.

As for the Cancer society donation, they are taking the $10 from what I send in and donating it for me. So, I send an extra $15+ the CD amount which I am struggling with right now.

I want to pretty much use all my free funds...except what is in the brokerage account. And I promised them it would stay for 9 months as part of a free trades deal.

I still have 2 CDs at Ally that will be broken but not today. (2.25% 5 year)

Copy of drivers license is not required but the signature on the membership application must be notarized.

If I max this out and we have a market crash, I will be kicking myself. I have other CDs maturing around the end of the year first of next year.

I might have to chance it.
Daniel   |     |   Comment #43
Do you guys have faith in this CU? They cannot really lend money out at rates much higher than 5% unless I'm missing something...

I have been on the call with them waiting for a customer rep and it looks like they are very small or swamped. Since I'm in Massachusetts getting the money out of Mississippi may be an interesting challenge?
RJM   |     |   Comment #45
Took me 6-7 minutes. Andrews, I'm still waiting for a call back. They promised I would not lose my place in the queue. (lol)

I'm assuming these guys have a short term need for funds. They are still federally insured, right?

Getting the money out should be as simple as ACH. Their routing number is 265577585.
RJM   |     |   Comment #46
As for my application, there is a place to join as an association member but you can't or I can't click on any of them. I would have expected to be able to click on one & the application pop up but that did not happen. Because nothing happens when you try to click on any of the members.
Daniel   |     |   Comment #54
Yes they are but what if you are trying to put 2.5M with them?
RJM   |     |   Comment #56
No, I don't have that problem. FDIC insurance only goes so high.
!!!   |     |   Comment #47
I don't know about that if their loan rates are anything like the local P & G Mehoopany Employees FCU:

New and Used Auto Loan2 Up to 84 Months 2.99% – 16.25%
Older Used Vehicle Loan3 Up to 60 Months 6.49% – 17.00%
New and Used Camper Loan4 120 Months 6.24% – 12.25%
Signature Loan5 Up to 72 Months 9.45% – 18.00%

And their savings rates:

A paltry .10% on share a savings Acct
and a wopping 1.0% on a 4 year CD
rzelman   |     |   Comment #49
App also was deferred for further review. I waited for 20 mins on hold before getting the call back option. Since this offer is now very time sensitive, I would be more confident in wiring funds as opposed to depositing a check at an affiliate. Hope that is a permissible option. I also plan on linking the savings account externally and using an ACH transfer to recover the matured funds.
RJM   |     |   Comment #53
Wire is fine.
CuriousDave   |     |   Comment #213
They appear to be insured but are probably working at breakneck speed to handle all the frantic applications. When I tried calling them last Friday their lines were jammed for over an hour. However, the person who eventually took the call was very professional and polite.
HollyHolly   |     |   Comment #50
The 5% 7 mo deal expires at the end of the day on Tuesday, Aug 21. One rep I spoke with said that if you have made application on line but do not have your paper copy signed at the CU by Tues, it is ok so long as they have the funds on that date.
HollyHolly   |     |   Comment #51
Further to my comment above, I just got off the phone with one of the reps who told me that to make the deadline you have to do a wire transfer since they put a hold on the funds coming in from a shared branch deposit, and they will not lift the hold to open the CD. I tried to explain that I am not trying to take $ out, only to move it from one place to another at Keesler FCU but they would not agree. Also, they told me that I had to send the paper docs by fax or email in order to get an acct # in time as well as mailing the hard copy.
RJM   |     |   Comment #52
But the poster above said otherwise JRose #22.

They did not say I had to return the paper docs by fax or email and I did not ask. They said I could send my drivers license that way but its not mandatory.

The notary is huge overkill. They have my credit report and I passed the 4 questions.

I had hoped they would call back by now.
rzelman   |     |   Comment #55
CSR asked that I email copy of my license and I would then get another call back. Originally advised that I ACH the funds which is an obvious non starter. When pressed he agreed that a wire would be accepted but clearly will need an acc# to do that. ACS membership he further advised could be done by requesting a link on chat.
RJM   |     |   Comment #58
My concern with the wire is the cost and my concern with letting the check sit there in the savings is it only pays .20%. (Even assuming they would time stamp your application and give you the rate which does not seem to be the case)

I hope I did not blow a hard pull for nothing.
And my rep said I could send them the $10 for the ACS. Her idea, not mine.
kate   |     |   Comment #60
Did they use Equifax?
RJM   |     |   Comment #62
Did not ask.
kprr7   |     |   Comment #63
Credit Check
They use Experian for the Authentication Questions on Application
They use Equifax for the Credit Check
NOTE: For those with Credit Freeze, the CSR told me to 'unfreeze' at both places in order to get through the application process.
CuriousDave   |     |   Comment #214
This type of offer has probably attracted a lot of interest from people out there looking to park dirty money at a high rate. DHS has regs that require financial institutions to obtain additional personal information and to ensure valid IDs to prevent money laundering.
Thor   |     |   Comment #57
I am basing this post entirely on Ken's update (only):

Since when can a credit union, unilaterally and upon short notice, expand its FOM? I concede the possibility a credit union can of its own volition narrow, or restrict, a special deal to only a portion of its pre-approved FOM. But I think for any credit union to expand its FOM it needs approval from a higher authority.
Ann   |     |   Comment #68
I think they're just changing how they interpret what their official FOM paperwork says (something could have been insufficiently specific about 'one of the following' vs 'all of the following').
???   |     |   Comment #82
Why would you raise that concern if it doesn't affect you ?
No harm no foul ?
RJM   |     |   Comment #61
Ok, my contact just called and we got the OK. The funds are on hold but they will be on hold within the CD. So I'm headed down to the shared branch right now.

Unless they don't answer the phone later that is.
rzelman   |     |   Comment #64
Just emailed them a copy of the ACS membership receipt. Wire can be executed on Monday free of charge from my Vanguard account and arrive before the end of the business day on Tues. Still waiting to get a call back or email confirmation of my acceptance and acc#. They are open until 1pm on Sat so have another day to work with.
RJM   |     |   Comment #65
Deposited the check, held a little bit of cash back but deposited about 90% of my available funds excluding the brokerage and the ally CDs that will be broken soon. Those should give me some cash availability in the event we have a big market decline before year end.

I did not ask if it will be dated today or Monday. Hopefully today.

Called in and the new rep, of course, said it could not be done so i am on hold for the rep i spoke with previously.
RJM   |     |   Comment #66
The shared branch said they could not notarize the stuff since I did not have an account with them so I will have to drive farther to my credit union.

Still on hold as the 2nd rep runs around like a chicken with his head cut off trying to figure out how to do it.

Cant be that difficult. Nasa & Andrews did it.
RJM   |     |   Comment #67
the 2nd rep apparently decided to send me to voice mail with prompts so I entered the extension of my girl and it said "no agents are available" and hung up.

I did find out they are open until 7pm tonight and 9-1 sat. Of course, it says also available by chat but how?
Bogie   |     |   Comment #70
Apparently not all shared branches are alike.

Several years ago while on an extended vacation 1700 miles from home, a oil & gas lease deal came up back home that required notarized papers, we went to a shared branch with our CU. They couldn't be more accommodating. Even provided two witnesses which were also required along with the notary authentication. All free of charge. Thanks to Black Hills FCU in SD.
RJM   |     |   Comment #74
My credit union is just a couple miles farther and I go near there almost every week or more anyway. So not a huge deal. But on a Friday afternoon, you're talking an extra 20+ minutes there and back. I've considered opening an account with the closer one but they don't have a single thing that is attractive. Still have to come inside for shared branch transactions.
larry   |     |   Comment #71
Wow, you are working your bu tt off on this one! The whole notarize thing is a big no go for us given the time frame.
RJM   |     |   Comment #73
The notarized form does not have to be back by Tuesday. And, I cant see how, as someone above posted, that you can return it by email. You can't feel the notarization via email.

I'm not sure how they will collect the $10 but it does say "hold" on $10 of the $15 in my share account. The CD does not say on hold. Like it did at Andrews.
larry   |     |   Comment #78
Any idea if you can ACH out of that share account? I remember we almost got stung on some fees from Discover when trying to pull funds out of a share account at NavyFCU. Ended up having to open up a checking account to get funds out.
RJM   |     |   Comment #89
I asked the rep if there was any problem linking an account at an outside bank and she said no. And I set up thing from AA but then before doing Ally, I realized that AA pulls 2 transfers, the CD was one and ACS might be another. So I held off to make sure I get 6. I once had a cu account that only gave me 3 ach translations. I know, sounds crazy but its true. I opened a 2nd account because of it back then.

 I thought Penfed limited you to $5000 via ach but I was informed incorrectly and ACHed my last CD proceeds out.
anonymous   |     |   Comment #69
Please send the link to join the ACS I couldn't find it on their website...just donation button.
RJM   |     |   Comment #75
My rep, the first girl, said they would take care of that for me. So I sent an extra $10 in. But I opened by phone because their site was not cooperating. Glad I powered thru rather than blow it off.
rzelman   |     |   Comment #76
ACS link provided via chat. Finally after a long hold I spoke with Sade who was far more helpful than the first rep whose instructions would have kept my app in suspension beyond the deadline! License and ACS receipt were emailed directly to her while I stayed on the line and she then gave me the routing and saving account #s. Wire will go out Monday but will need to be transferred to the CD by a phone call after the funds are credited. The wire desk is open until 5PM CST so it must be posted first before they can finalize the cd account prior to 6PM. I don't advise doing this any other way as there is no room or time for error or misunderstanding.
RJM   |     |   Comment #72
I was about to do an 18 month at 3.15% but it ended. This deal is SIGNIFICANTLY BETTER in that its likely on March 17th 2019 when my CD matures I will be able to get a better deal than the 3.15%.

Compared to 5% though, it will almost certainly be less.

Andrews was a good deal at 2.75% but this blows that out of the water.

The rep that I got cut off with called back and its all set. He emailed me a temporary password and i was able to log in and see my account.

I guess I will go ahead & set up a link at AA although I doubt the proceeds will be going there.

Can't set up a link at my broker until I have a statement to show them, believe it or not. (Yes, I know, any john doe can open an account without a statement. But for 15 year customers, they need a statement. Unless you are using a big bank and none of mine are)

I guess that's a security thing. That way some scammer cant add a link and empty my account.
RJM   |     |   Comment #77
I asked about setting the CD to automatically transfer to the share account on 3/17 but he said he could not...I had to wait for them to send whatever about a month before maturity and then they could do it.
RJM   |     |   Comment #79
I called back because the first girl said it would be easy to transfer the beneficiary's to the cd. And I forgot to bring that up in the last call.
Instead, they are sending a blank from where I have to enter all the info again.

RJM   |     |   Comment #80
She called back. The form will be pre filled out.

And they DO need a copy of my drivers license. I was unclear with the prior rep. She said it did not have to be emailed and I took that to mean they did not need it.

So, a hard pull, 4 security questions, a copy of your drivers license and a notarized signature. Anything else? A vial of my blood maybe?
Dunmovin   |     |   Comment #81
Just think if you qualified by "worship" in the area...probably need to provide a cert from God Almighty!
Whoo   |     |   Comment #83
I think it is too late to start now because money has to be there by Tuesday. But cons of account are:

- hard pull
- not easy process to open account
- money must be wired (fee from your bank sending it)
- account app must be notarized (fee for notary)
- not sure how hard to close it after 7 months and get money
RJM   |     |   Comment #85
I did not wire the money. I used a shared branch. This CU is open Saturday and Monday and you have thru Tuesday. (Although I'm not sure any shared branch near me is open Saturday)

Don't think a local CU will charge to notarize if you are a member. But if you do have to pay, its what? $5? You are making an excess return on the CD. HELLO?

Hard pull is what? 10-15 points max? And how many people buying CDs need to worry about 10-15 points or less? I sure don't. My bigger concern was getting rejected for too many new bank accounts but I didn't. And I wont need another until Jan.

I plan to ACH the money out when it matures, easy peasy.

So yeah, if their rate was not so high, I probably would not have done it.

Anyone heard from deplorable? He is going to hate missing this.
river trip
river trip   |     |   Comment #86
deliverance ?
OMG !   |     |   Comment #98
THAT'S ? what relate to from that film?
larry   |     |   Comment #91
I agree it's a great rate, but it's making think twice at where they think rates are going. This pretty much smokes Sharonview 4% offer although short in length. I think we will see 5 handles by next year. I would ladder some in if it weren't for the notary nonsense.
cateye   |     |   Comment #87
hard pull - YES
wired money? - I was told to deposit it tomorrow or Monday by check using shared branch (once you have your share account number)
notarized? not sure?, I was not informed of that
you can fax the account agreement signature card which you download after app completion, is this what you were saying needs notary?
you can email ACS receipt (which is an email from ACS)
email copy of Drivers license
The disclosure states: automatically renews to 6 month CD unless you instruct them different
I think that was the whole process.
*Had to shell out $$ to join the Caner Assoc., but the rest of it was standard stuff for a CU, just rushed it all to meet a deadline.
rzelman   |     |   Comment #97
Agreed, no need for notary, sent license and ACS direct to the CSR's email account and got my saving acc# during the same phone call. Worst part was the initial clueless CSR who misguided me and the long hold time to speak to a CSR. Couldn't care less about a hard pull as I don't borrow money.
boston02116   |     |   Comment #88
I signed up to open an account today. Went pretty smooth. They do a hard pull and will make two small deposits for ACH transfer. I asked about shared branch deposit but they put a hold on the funds. Is there some reason why anyone wouldn't prefer ACH transfer? So will verify the two deposits by Monday and transfer the funds. Should be a done deal.
RJM   |     |   Comment #90
My thought process is with ACH you may lose a day or two interest.

With a check, you might gain a day or two or three given it's a weekend. My CD is earning 5% but that check won't likely clear until Monday. That's worth a 2 mile drive to me.

I did not even ask about ach when I found out they had shared branch.

My rep was really trying to push me to wire it in, she said most everyone is doing that because they know they will make the deadline. I insisted on the shared branch.
Off topic:
I was able to link it to Mint and it updated.
111   |     |   Comment #94
Wow - THAT was unpleasant!...

Ugly, poorly-conceived online application AT BEST! Got through it late this afternoon. Immediately before that, did the VERY straightforward "American Cancer Society Cancer Action Network" application/donation (and seriously - are some posters on this website REALLY bitc*ing about spending the $10 default, vs. some lower figure, like $5? For 5%? Jeez!)

I called Keesler afterwards. I'm basically at about the same level in the queue as rzelman, I think. Got my account (member) number now. Emailed them copy of ACS email plus driver's license PDF. I'm deciding whether early Monday morning to do: 1) the Shared CU Co-Op thing, or 2) the wire transfer thing. Can't do much between now and then, because even though Keesler is open tomorrow (I may call them just to check on status of things), neither my local Shared CU Co-Op nor my bank (if I do wire) is open Saturdays.

I've been assured by 2 different Keesler CSR's now, that I can do it either way - 1) there will be no hold problems if I do check deposit via Shared (the obligatory hold will be transferred to the CD), or 2) either way (Shared vs. wire), any "Notary signature" issues do NOT need to be dealt with before COB next Tues.

Should I believe them?
RJM   |     |   Comment #95
Mine is up & running from this afternoon showing 4.95%. If they were playing games, they did not have to accept new members from out of state.

The signature stuff is after the fact paperwork. Just like other places make you send in paperwork later.
RJM   |     |   Comment #96
Oh, and I looked again and found 2 shared branches out of 27 open Saturday. One 9-12, the other 10-1.

At first I used my zip code, only 14 , then I used a nearby zip and found 13 more for 27 with 2 saturday ones.
Anon456   |     |   Comment #99
RJM - good for you in getting it open. i jumped through hoops and got mine done today(Friday). KEESLER was very good to deal with, and moved the check hold from the Shared Branch deposit onto the CD, and it posted in my account today. - - SO THANK YOU KEN, for this web site and at least letting us know of these small windows of opportunity to chase a yield.
boston02116   |     |   Comment #100
My problem is that I'm a member of a local CU shared branch. But the funds are being transferred into a different local bank by ACH from a Dollarsavingsdirect acct. that I'm finally closing. Dollarsavingsdirect won't allow a second ACH bank without paperwork that has to be mailed in. So I wouldn't be able to do a shared branch deposit unless I moved the funds across town to the CU on Monday. Not sure if there's time for it to clear.
beth   |     |   Comment #102
Which CSR processed your application. I'm still waiting for Mary to call me back this morning.
beth   |     |   Comment #101
Don't forget to unlock your Equifax account before you apply. I did and it set me back about 24 hours on this deal. I still don't know if my credit is unlocked yet. It's only suppose to take up to 20 minutes to unlock but I'm doubtful.
cateye   |     |   Comment #103
Confirmed, your credit does UNLOCK immediately and then locks back on the date you set.
cateye   |     |   Comment #104
Also, you may need to unlock Experian to get through those 4 questions on the application?
beth   |     |   Comment #108
Only Equifax was locked. They gave out free subscriptions when they had their data breech so it was free to lock and unlock the account.
RJM   |     |   Comment #105
There is a limit of 4 withdrawals per month from the Keesler share account, but it has unlimited deposits.
I'm using two for linking to AA, one for the transfer to the CD and I guess one when they take the $10 donation. So Im glad I did not set up another trial deposit thing because it would cause me to go over.
Will wait until next month to link elsewhere.
Steve   |     |   Comment #106
******** 5% @ 5 months cd is available till 8/31 *******
at California Coast Credit Union . if you miss out on Keesler 5%

This is open to anyone living in San Diego/ Riverside counties, Calif. & also available nationwide
Its called "Take 5" cd

On the application, it asks if you live in those 2 counties or somewhere else. It states " that's ok" if you don't live in those 2 counties & then click on tab & asks what state you live in. all states come up to join. I read somewhere on the site membership is $5 & you need to open a saving account.
Application seems fairly easy to fill out.

I hope this info I found helps others , This website has helped me find so many good rates , I'm just returning the favor.
beth   |     |   Comment #107
Thanks, Steve. Great info since I'm not sure I'll be able to open the Keesler deal in time.
Nik   |     |   Comment #109
Is there a maximum limit for the cd? The fine print says

"Certificate opening deposit balance cannot exceed $5,000"

Or does that mean you can add more after opening with $5,000? (sorry new to CDs)
Slime   |     |   Comment #112
I just called Cal Coast and the CSR told me $5000 was the max for the take 5 CD. You can't add to it.
Nik   |     |   Comment #117
Thanks but it seems this is a skip for me. 5% here doesn't seem as good. $5000 upper limit plus need to have an active checking account that is actually utilized or an alternative option (savings, CD, etc) with atleast another $5000 earning low interest is not really idle.
Daniel   |     |   Comment #131
The 5K upper limit is a complete joke. Difference of return between 3% and 5% for that amount over a 1 year basis is $100. Over 7 months is like what...$58? That's lunch money...
Ann   |     |   Comment #125
This is the fine print:

" TAKE 5 CERTIFICATE OFFER: Rates are accurate as of 01/17/2018. Early withdrawal penalty applies. Fees could reduce earnings. Offer excludes business and individual retirement accounts. New Money only. A primary member is allowed to open one Take 5 Certificate Account under the same member name and related tax identification number. The minimum deposit required to open the Take 5 Certificate is $500. Certificate opening deposit balance cannot exceed $5,000. In addition to the minimum balance requirements the following conditions also apply: A qualifying checking account with eStatements is required, and must remain active with at least 1 transaction per month, during the certificate term. Eligible transactions include, but are not limited to, Direct Deposit, Preauthorized Payments, Checks, ATM, POS, Debit Card, and Bill Pay. As an alternative, the following products opened within 30 days of the Take 5 Certificate Account date can be substituted for the checking account requirement: a new funded consumer loan (excluding share secured loans and Mastercard credit card account), a money market account, a regular certificate account, or an IRA certificate account. The stated alternative deposit accounts require new money and a minimum opening balance of $5,000. You will have a 30-day grace period to meet the requirements. If the conditions are not met, the 5.00% APY may be reduced to the APY in effect for a 3-Month Certificate Account for the remainder of the term. "

So to avoid having to keep an additional $5k in another low-rate account with them, the only option is to do the checking account. "we offer Free Checking with eStatements—an account that's truly free. Minimum opening deposit of $25 and no monthly maintenance fee", which is reasonable, especially if small automated transfers back and forth from another bank would count as 'direct deposit' activity.

But your total profit on this would only be $100 ($5000 * 0.05 / 12 * 5 = $104, -$5 membership fee), which probably isn't worth all the hassle of multiple accounts at this place ('base share' savings every credit union requires, checking, and the CD) for a one-time thing.
Ann   |     |   Comment #126
I forgot this site doesn't like greater-than/less-than symbols, lol. Should say $99 instead of $100, since the less-than symbol in front of my $100 got eaten.
HollyHolly   |     |   Comment #129
Not such a good deal if you read the small print - $5000 cap. Must have checking acct.
SYC   |     |   Comment #110
According to CSR over phone today, this special CD will end after 8/21/18, next Tuesday.
CC in CA
CC in CA   |     |   Comment #111
Not hopping on the bandwagon for this one at all. 7 months is too short a term to have to (1) open yet ANOTHER account, (2) jump through all of the frustrating hoops to open, (3) have to figure out what to do with the money in March 2019 when the CD matures, and (4) be stuck with another account to monitor. If the term were longer, maybe. But nope on this one. (Still nice to see it, though, and good luck to all of you who are chasing it!)
Thor   |     |   Comment #124
I sincerely wish them good luck, too. CDs (yes, more than one) I'm opening right now will mature early in November. Who knows what circumstances will be next March?! You find seven months too short. I find it far too long. I guess such differences of opinion help to populate a vibrant marketplace.
111   |     |   Comment #113
I was a little annoyed at Keesler yesterday after finishing what I still think is not a very smooth online application, but things are looking up today. Called today to check status. One small thing - don't expect the documents you email them (in my case, driver's license and proof that I joined ACS) to show up in that "View Documents" section of their website for applications. I've seen other CU's do it this way, but for Keesler this is mainly for the documents they send us and we send back, and only then do they appear in that section. Today they confirmed that what I emailed them passed muster - apparently they don't email back a "received" notification for these. Or maybe they're just swamped.

I set up my login earlier this morning - pretty straightforward. Not too bad a hold time today. CSR confirmed the 1-per-household limit on CDs, and that there was no upper dollar limit.

CSR I spoke with was one I also spoke with yesterday, and she repeated the 2 promises that many of us are depending on here - 1) that getting the remaining paperwork back to them after next Tuesday will NOT be cause for denying a CD, and 2) for those going the Shared Co-Op pathway, a hold on funds in one's Primary Share Account will NOT prevent the CD from being created. (Instead of "transferring" the hold to the CD and still creating the CD by Tuesday, she said they will let the hold expire, and only then create the CD. If they do that, then a lot of CDs may have creation dates later than Tuesday.)

On those 2 promises, looking back through this thread it looks like only some early commenters had their CSR's saying something different. So maybe we can chalk that up to some initial confusion at Keesler, with the changes they made in the scope of the offer.
RJM   |     |   Comment #121
Letting the hold expire is a poor solution and I would not accept that even though its what they usually do. Its a poor practice because the member is forced to earn .20% during the hold period.

Other credit unions do not have such Draconian policies. (Nasa & Andrews to name 2)

I insisted that they not wait for the check to clear to open the CD and although it was a pain, they accommodated me. The other credit unions kept the hold on the funds but the hold was in the CD earning the higher rate.
This credit union did not put the hold on mine in the CD but that may have just been an oversight or maybe their system won't allow it?

When I opened the Andrews, the shared branch said the hold could be up to 10 days for a large check which is silly but because I knew Andrews would let me open the CD right away and not wait for the hold, I did not care.

I see a lot of posters belly aching about hard pulls. I can somehow manage the 3 point hit I took.
But I was not willing to earn .20% while waiting for the check to clear.
But, since I did all this Friday, I was not worried about them pulling the deal. Pulling the deal on members in transition would not make sense for a credit union that was nice enough to open the deal up to everyone via the Cancer donation thing.

I hope this deal causes other banks & credit unions to offer high rates even for short terms.

While I would prefer a longer term, I feel confident that in the current rising rate environment I will be able to get good deal in 7 months. Not compared to 5% but compared to the other rates that are available today.

As a general rule, prior to this deal, I had decided to avoid institutions that required BS like a copy of my license and I never would have considered a deal that required a notarized signature. But this rate was too good to resist. And, I have a feeling they probably would not enforce the notarized application thing anyway. But, since I am a member of a local CU and its not way out of my way, I will go ahead & get mine notarized even though its SO unnecessary. It might not be necessary if they were not going to do a hard pull and the 4 equifax security questions. But in addition to those, its extreme overkill.
boston02116   |     |   Comment #114
When I did the application yesterday, Mary told me if the micro deposits for ACH are verified by Monday then the CD wil be opened when the funds are transferred. The CSR I spoke to today who told me the funds had to be transferred by Tuesday at 5 PM. So I called back and spoke to a supervisor who told me anything in the pipleline by Monday will be honored..
02116   |     |   Comment #119
Hey 02116, where do you live/work? I’m in the Hancock Bldg in the 02116
?   |     |   Comment #115
Only 105 comments?
lou   |     |   Comment #116
Yeah, but 5 people made 80% of them.
Omorosa   |     |   Comment #118
This has to be a Top 5 commented post of all time.
RJM   |     |   Comment #135
I could have waited & combined mine into a few posts but I suspect a lot of people had questions because the deal was ending soon so I purposely posted a play by play because I thought it would be helpful. If it offended anyone, well, that's just a bonus. lol
Ann   |     |   Comment #141
You've done nothing wrong, RJM. This deal is too short for me to want to deal with, but your comments have surely been very helpful for those who do.
TotalNoob   |     |   Comment #137
Can someone who has opened a CD account already clarify a few things. I just want to make sure I can get this CD by Tuesday. I am OK with a hard pull, $10 ACS donation, and am willing to do a wire transfer.

Today is Sunday the first few things that need to be done are:
-Join ACS for nationwide access by donating at least $10 to receive a membership email? Correct?
-Fill online application noting I am an ACS member? Correct?
-Call on Monday? To get email where I can send documents (drivers license, ACS email, and Signature App?) faster to receive account#? Correct?
-Once Account number is received I can setup a wire transfer from my savings account near the end of day Monday to have the money wired before end of day Tuesday (8/21/18 when deadline expires)? Correct?

Am I missing something?

Thanks for the help. Regards,
?   |     |   Comment #139
Yes, a southern drawl...
SvyT   |     |   Comment #140
It seems like you have the basics covered. You need your member number and the ABA routing number to wire the funds. Based my experience, KFCU won’t open the CD until the funds are in your account to be able to fund the CD.
rzelman   |     |   Comment #142
It will be tight but possible as long as your wire goes out before 4PM EST on Monday. I would call early Monday and ask the csr for their personal email so that you can send the documents while you are still talking on the phone. The first rep I spoke to gave me the general address which is only checked every 24-48 hours. The second rep gave me the ABA and account numbers immediately after sending her the documents. I would have missed the deadline had I not called again and spoken to the more proactive csr.
gnipgnop   |     |   Comment #146
Not to rain on anyone's parade, but it seems ridiculous to go through all of this, just for 7 months. I can understand if it was Sharonview (which offered 1%-1.5% above what everyone else was offering) for 5 full years. But 137 posts for something that's basically only for half a year? Yes, there might be a narrow band of people who, if it doesn't take much effort, it might be okay to open. But for everyone else, to me it's just a come-on (like those credit cards that offer 0% interest for the first 6 months, then have terrible interest rates). If it floats your boat, I'm glad. But I can't help but wonder if people would be doing the same scrambe if it was, say for 4 months? or 2? I have money at Sharonwivew that I've had in for a while now at 4%. Jumping through hoops to get 5% for just 7 months? No offense, but I'll pass...
PepperJack   |     |   Comment #149
Yes and no, I see your point but I like shorter term CDs to have my money as liquid as possible.
rzelman   |     |   Comment #150
For a $250K CD that is short term, I will get an additional $4375 from what I am currently earning with my brokerage MM account. In March,2019 there will likely be better liquid opportunities to place the $250K than what we are seeing today. I'm happy to take the extra $4375 thank you.
Nothing   |     |   Comment #151
rzelman.. Where are you getting almost 10% for your MM account...Guaranteed by?
rzelman   |     |   Comment #152
10%??? Vanguard prime is yielding a little over 2% so the 3 pt difference over 7 months comes out to $4375 on a 250K CD.
Nothing   |     |   Comment #171
#152 I see about $7300 interest on $250K @5% apy for 7 months. And you state in #150 that you get an extra (your word) of $4375 for MM. Therefore, to earn the "extra" amount of $4375 PLUS the $7300 for a total of $11675 for 7months. Which is about 8% (almost 10%) on the $250K...Again, which MM are you getting an approx. 8% apy?
lou   |     |   Comment #177
If you live in Ca. and are in my tax bracket, the combined federal and state tax rates would take close to 40% of the $4375.
RJM   |     |   Comment #192
So 5% is a bad deal because you are in a high tax bracket?
I bet you'd love a nice 1% account to keep taxes down.
RJM   |     |   Comment #188
$4375 is 100% correct. No matter how much someone does not like it.
larry   |     |   Comment #156
rzelman (Comment #150)
Excellent point and deals like this comes down to how much in funds are you moving. Leave $4400 laying on the table...probably not.
boston02116   |     |   Comment #147
Yeah I would do it over the phone. And get a good CSR.
RJM   |     |   Comment #154
My rep said I could send an extra $10 with my initial deposit and they would join me in acs. So I sent my CD amount +$15 so I did not have an odd amount CD.
I opened the account on the phone with a rep because I found the website buggy.
She gave me my account # right away and I assumed,that everything would be sent via snail mail because Andrews and Northern insisted on that. (They can send it to you either way)
They key after you send the wire is calling and making sure the CD is opened and not just sitting in the share account. They are not going to automatically put the money in the cd unless you call. Write down who you talk to. And make sure you add your beneficiaries to the CD. Initially a rep said that needed to be signed also but then realized it did not. After that, I think I needed a temp password which a rep gave me? But then I was able to log in online and set up a security word and regular password.
larry   |     |   Comment #157
Any update on the account having to be notarized? tia
RJM   |     |   Comment #158
Everyone I talked to and every post I have read says it needs to be notarized.

Nobody has said what happens if its not. Nor did I ask.(I mean the after paperwork, not the account opening)
I provided nothing except the questions she asked and the 4 security questions. And the shared branch deposit with my new acct number.
They of course did the hard pull too.
SYC   |     |   Comment #159
My account was opened with a copy of my driver license (NOT notarized) faxed to them along with my signed copy of the account application.
luu   |     |   Comment #160
I emailed my DL and Cancer donation receipt
faxed my signed copy of application
luu   |     |   Comment #161
NOT notorized
BigDave   |     |   Comment #162
My account was opened soley via the questions from Equifax. No signature, no DL, no notary. I think it depends on the CR rep you get.
RJM   |     |   Comment #163
We are supposed to send the rest later. Northern has a silly 2 step process. They send stuff, you fill it out, sign and send it back and then they send something else which you sign & send back.

Keesler is going to require a signature card/form and 2 different reps told me they want that notarized and a copy of your drivers license. I did not ask what would happen for failure to comply. Maybe nothing? Maybe we could just ACH out in 7 months without that stuff? I'm probably not going to chance it because I don't want my money held for a week if they were to later demand that stuff be sent in. The rep said my share account is set to receive ACH deposits and withdrawals. And I have two test transactions & withdrawals pending.
111   |     |   Comment #148
RJM - That's an excellent point in your comment # 121, about only earning .20% during the days the funds sit in the Primary Share account waiting for the check to clear. (I was also planning to go the Shared Branch route.) Far better to have the hold transferred to the CD.

I think early Monday morning I'll call Keesler and ask them about this. Looking back through your posts, it looks like it took you some extra effort to get this done. Do you recall which of their Customer Support reps. helped get this done, and possibly which of their supervisors finally approved it? (The CSR I talked with last was "Brandy" in the New Accounts Dept., extension 6545, but she was the one who outlined the "create the CD only after the hold expires" pathway. Aside from that she was very good.)

Also, when you were in the process of getting this done, did they happen to mention HOW LONG a hold they would put on your check if they were NOT able to get it done the way you wanted?

I'll call them before I visit my Shared Branching CU. I still have the option of wiring funds thus avoiding a hold, but then I either have to wire from 2 different banks or else I can't make the CD quite as large as I want.

Thanks much.
RJM   |     |   Comment #153
The first rep I got was Kayla (?) same extension and she was terrific except she indicated I would easily get her back on the phone (after the initial call and her followup call) and I did not when I called back after the deposit. It sounds like 6545 is just a catch all extension for everyone who opened a new acct? But it just sticks you in the queue again?
I feared an Andrews like experience where I could not get anyone to answer or return my call all day. But this credit union answers or calls back. The 2nd guy did not know who to go to or what to do, I told him Kayla got approval from someone and then put me on hold several times and then we got cut off. I immediately called back and got back in Queue but he called back in about 10 minutes and said he would do it the way I wanted. He did not say who authorized it but previously he asked who told me they could do it and luckily I wrote down her name & 6545 extension and gave it to him. I think I also mentioned JRose, comment #22 who got it that way. And I pointed out that the hold was not a problem, I just wanted the hold to be within the CD like both Nasa & Andrews had done. I did not ask nor did they say exactly how long the hold was.

But unlike most, Kayla said they would take the donation from my original deposit and that was not immediately done. After I got off the phone with the guy, I got a call back from another helpful lady from my prior getting in queue, Cheyenne, and I clarified the notarization & drivers license requirements and asked that the beneficiaries be added to the CD because I remembered Kayla saying that would be done later and not automatic. Initially, she said she was sending a blank form and I would have to reenter all the beneficiary info and I was a little perturbed about it but then she called back in a few minutes and said she was wrong and that it would be pre-filled out. She offered to send to my email but then said she could do it either way and I opted for snail mail. She sent an email and then a follow up email saying the first email was incorrect. And by then it was after 5 or 6 and I asked her by email about the # of allowed withdrawals per month, I assumed it was 6 because it usually is but I remembered one CU had a limit of 3. She responded Saturday morning that Keeslers limit is 4. (I wanted to set up a link now at another bank in case I later forgot)
RJM   |     |   Comment #155
It appears the initial hold is set to expire 8/21. Mine only shows $10, I guess because the $5 must remain and the rest went into the CD. (The CD does not reflect the hold like I recall elsewhere) The $10 hold could also be for the ACS donation?.
I only see this when I click on "notes" 1 Pending and a popup comes up.
Transaction Date Expiration Date Type Description Deposit Withdrawal
8/17/2018 8/21/2018 Check Hold $10.00---------------------------
Also saw this .....

On August 22, Keesler Online will launch an updated look and feel designed to make your online banking experience even better. This change only affects the site’s appearance and usability - all functionality, features and services that Keesler Online is known for will remain the same.Here's What You Can ExpectKeesler Online will be unavailable much of the day, August 22. All scheduled transfers, ACH and bill payments set for that date will still process as usual. The mobile app will still work while Keesler Online is unavailable, and you can call the Member Contact Center for help, but be aware that wait times that day may be longer than usual.Once the upgrade is completed on August 22 and you log into your account from the Keesler Federal Home Page(opens in a new window) , you will notice:
  • A more streamlined layout
  • Consolidation of some menu options
  • Quick widgets to conveniently access features you use most often 
NOTE: Although the updated Keesler Online features a design that gives the site a consistent look whether it is accessed via computer, tablet or mobile phone, weHIGHLY RECOMMEND using the Keesler Mobile app for the best experience on your mobile devices. If you are not already using Keesler Mobile, free downloads are available below on the App Store or Google Play.
111   |     |   Comment #189
RJM - Thanks for your help. As I posted below in more detail, I had my CD started today, and any hold is on the CD itself. As it turns out I was possibly overly concerned about the hold - as I found out earlier this afternoon, when the checks I deposited were in my Keesler Primary Share account, they were only showing a hold until 8/22/18, which would not have been a big deal to me. What annoys me is when financial institutions slap 1.5 or 2 week holds on - I've actually had that happen. Before today, I didn't know if Keesler was one of those pirates or not.
beth   |     |   Comment #164
Finally got my account open. They're being lenient on when the account gets long as the account is opened before the deadline the funds/paperwork can be done later. So if anyone is on the fence over this deal, the process seems to be getting streamlined. I had to email Sade a copy of my drivers license while she was on the phone but that was it. Wire transfer will happen tomorrow.
rzelman   |     |   Comment #172
Sade was the CSR who expedited my application in the same manner. Other agents have misdirected the documents to the general email address which could've caused you to miss the deadline.
Keep in mind that the transfer of funds from the savings to the CD is not automatic. You must call on Tuesday after the wire in received to instruct them to make the transfer.  Don't assume that it will be done or honored otherwise!
Daniel   |     |   Comment #175
Have you asked specifically if it can be funded after the Tuesday deadline? I called earlier and it didn't seem that it's possible...they said the wire has to go out on Tuesday at the latest...or ACH the same.
Daniel   |     |   Comment #178
That's not what the CSR just said on the phone, she placed me on hold and 'checked with a supervisor' and said that funding needs to happen tomorrow (Tuesday) at the latest. They are willing to take 'proof' that a wire was sent out tomorrow even if the wire clears Wednesday.

I decided to transfer 1M from a Marcus acct which earns 1.85% to open 4 CDs x 250K each (structured beneficiaries for insurance protection). But the transfer from Marcus is 'in process' because it had to go through some approvals.

Long story short I'm not sure if I have anything to 'wire' tomorrow.
userjohn   |     |   Comment #182
Someone above said only 1 CD per household was allowed. Did Keesler confirm you could open 4 of these special CD's?
Daniel   |     |   Comment #184
They let me add it to the application and I'm now on the call...technically they can be 3 since beneficiaries have different address.
Daniel   |     |   Comment #186
No go on the multiple CDs...must be one per member is the latest they are saying. So if you have multiple beneficiaries you can't structure them for insurance protection purposes.

I could have my wife sign up as a member with our vacation home as a separate address but it's too much headache so I have to decide whether to do anything more than the 250K limit for insurance purposes.
userjohn   |     |   Comment #195
If you have multiple beneficiaries, why would you be limited to $250K insurance, even if you can only open 1 account, as opposed to $250K * (# of beneficiaries)? Are the beneficiaries only you and your wife (in which case it makes sense that 4 accounts would provide $1M insurance)?
Daniel   |     |   Comment #196
Keesler allows one CD per member, period.

A number of years ago I caught a PenFed promo for 3% 5-year CDs which mature in February 2019....I invested 1M and structured #1 - myself, #2 - myself + wife, #3 - myself + father, #4 - myself + theory any combination of individual + beneficiary gives another 250K protection.

In the case of Keesler I don't feel comfortable giving them more than 250K in one CD..."just in case" and they don't allow more than one CD per member with this rate.
lou   |     |   Comment #199
Do they allow more than one beneficiary per CD?
RJM   |     |   Comment #218
Yes, i put 2 on mine.
userjohn   |     |   Comment #200
Yes, I was clear they only allow 1 CD. What I meant was I could see why you'd want 4 CD's for $1M insurance if 4 CD's were allowed (as you'd previously thought) and if you and your wife would be the only owners and beneficiaries. But if you have additional beneficiaries, I still don't understand why you can't get more than $250K insurance, e.g., if you list your wife, mother, and father as beneficiaries, wouldn't that give you $750K insurance with only 1 CD?
lou   |     |   Comment #201
Exactly. Not sure why Daniel can't set it up that way?
Daniel   |     |   Comment #202
No, I think it's $250K insurance per beneficiary combination...I'm pretty sure I researched it with PenFed ~4 years ago. Any combination of individual and/or beneficiary can get up to $250K per account/combination. So if you have 50 beneficiaries you don't get $250K per beneficiary (in other words you can't have an astronomically large CD with full insurance = the max insurance is always $250K per CD).
lou   |     |   Comment #204
Daniel, you need to do more research. What you said is totally wrong. You are allowed up to 5 beneficiaries for each CD or $1,250,000 per CD. If it's a joint CD with your spouse, it could be $2,500,000.
losingtrader   |     |   Comment #252
Well, that would be 4 beneficiaries and the account holder. But it's not per CD. You can't have 2 CD's of 1.25 million with the same beneficiaries.

This CU has 15% capital, truly astronomical
userjohn   |     |   Comment #327
Daniel, did you try to verify your understanding about insurance being limited to $250K yet? Both Keesler and NCUA stated that $250K insurance per beneficiary was available. For example, you can open a joint CD with you and your wife, naming 2 parents as beneficiaries, and get $1M in insurance (or as noted by lou, $2.5M by listing 5 beneficiaries). If you want even more than $2.5M, I believe that should be possible also.
lou   |     |   Comment #198
Why the heck would you have 1M in a 1.85% account?
Daniel   |     |   Comment #203
Because as my businesses post profits and I get withdrawals I need to dump them into a 'savings' and that's where the savings is at...once in a while such as now I will do a market sweep and invest it in locked term CDs.

I'm not much of a stock market guy and I've lost money big and small every time I've invested so I'd rather have preservation of capital over everything else.
boston02116   |     |   Comment #216
I agree. Nothing wrong with playing it safe. And the market is in a bubble. If there's a good correction, then it would be possible to get in with less risk. And you'd be getting in with more of your capital than people who lose during a correction.
userjohn   |     |   Comment #197
Beth, presumably you meant only the share account must be opened by Tuesday (since the CD can't have more funds added after it's opened), but the full funding of the share account and opening of the CD need not happen by Tuesday? Was it Sade who said this about being lenient and do you know if a supervisor confirmed it? It seems like almost everyone else here has been saying all deposits must be received by Tuesday (even if there is a hold) so the CD can be opened Tuesday (except I think someone said a wire sent Tuesday could be ok even if it arrives Wednesday).
Interested   |     |   Comment #206
The CSR I spoke with Saturday indicated I could wait till Tuesday to ACH from external bank to fund CD. But the CSR I spoke with Tuesday morning (today) claimed that the funds had to be in today and ACH today wouldn't arrive in time for COB today. Seems odd in this day and age to have to go get a paper cashiers check from bank then drive to a shared branch to deposit. Wish all banks were as easy as Ally on electronic transactions.
deplorable 1
deplorable 1   |     |   Comment #165
Go figure a 5% CD deal pops up while I'm away! lol Oh well congrats to those who got this opened in time. I see some folks complaining that this is only for 7 months but it's better to stay short in this environment anyway. Hopefully we will be seeing more of these 4-5% CD's soon.
RJM   |     |   Comment #169
I wondered where you were. You still have time if you hurry.

Open it on the phone and wire it in or drop it at a shared branch.
deplorable 1
deplorable 1   |     |   Comment #191
Not enough time RJM as my liquid cash is in GM right notes and must go through Redneck first and then to Keesler even by wire. No biggie as it looks like they are doing a hard credit pull and I'm about to do 2 more 0% no fee balance transfers soon. I have also been earning 5% for 2 years with Insight and Netspend anyway.
RJM   |     |   Comment #193
I just gave the shared branch a check from Northern.
Ann   |     |   Comment #237
Hrm, I still haven't received my checks from Northern.
RJM   |     |   Comment #241
Ann, did you ask for them? I seem to remember having to check a box.

I opened 2 accounts at Northern but did not ask for them for the 2nd account.
Daniel   |     |   Comment #211
How much money can you earn with Insight and Netspend is it a limit of a few K?
deplorable 1
deplorable 1   |     |   Comment #221
@Daniel comment#211: Netspend limits you to 5% on $1,000(used to be $5,000) and only .5% over $1,000. I have 10 of those so that's $10,000 @ 5%. Insight had a $5,000 initial limit but also pays 5% over 5,000 as well plus a daily compounding method even though interest is credited quarterly. I had 8 of those but they closed 2 of them(opened online) so it dropped from $40,000 to $30,000 plus around $4,000 in accrued interest. All totaled I still have $44,000 earning 5% currently and that is still growing and compounding daily on the Insight side for as long as it lasts.
Daniel   |     |   Comment #245
Can you set up unlimited number of netspends and insights as well?

That's a great rate to get but for higher amounts is a big problem to manage unless you set it and forget it?
deplorable 1
deplorable 1   |     |   Comment #249
Netspend limits you to 5 cards per person which include Nespend, Ace Elite, Western Union, H-E-B and Brinks. I have 5 for me and 5 for the wife. Insight had a max of 4 cards per person but they have shut down the 5% savings account that were opened online. The Insight deal looks dead for new accounts unless you open one at a partner location and I'm not even sure about that. I have them in set it and forget it mode with $1 monthly ACH transfers they are fee free and cost nothing to maintain. The initial set up was a bit of work but rates were next to nothing in the bank over 2 years ago. If 5% CD's like this were available I probably wouldn't have bothered.
boston02116   |     |   Comment #167
Kind of funny that we're scrambling for a 7 month 5% CD when passbook savings paid more 35 years ago and CD's were like 15-20%. :)
deplorable 1
deplorable 1   |     |   Comment #168
True but those accounts are paying .01% today so this is a great deal and in 7 months there will be some 4% CD's available to replace it with most likely.
Bogie   |     |   Comment #194
Passbook savings never paid 15-20%, not even 35 years ago.
deplorable 1
deplorable 1   |     |   Comment #205
I think he was referring to CD's not a passbook account. For a short time there were CD's paying that high in the early 80's possibly. I remember a regular savings account I had was up to 10% for a short time.
Nothing   |     |   Comment #207
I see 17% for average 6 month CD for August '81...close to passbook...
Fed rate was about the same then
Johnny   |     |   Comment #170
I was able to go through the application process online Sunday night and get the account activated and funded less than a day later, Monday afternoon. So it's not too late.

To expedite the process, when you have finished the online application, print and sign the documents. Donate $10 to ACS and print confirmation. Scan your drivers license along with the proof of ACS donation, and the Keesler documents.

Call the bank and you will hopefully can a rep as cheerful and helpful as I did. Email the docs while you are on the phone. The rep will call you back with your new account number and routing number. The only slowdown I had was that Keesler wanted me to go to any local credit union shared branch and deposit a token $5. This was all accomplished smoothly.

Lastly, contact the bank where you have your funds and wire the funds to Keesler. For me it was worth the $20 wire fee to get the 5% rate and not have to worry about whether I'd make the deadline waiting for an ACH.

Best of luck and thanks to all here for the great comments that helped make this happen smoothly.
BigDave   |     |   Comment #180
Hold times on Monday afternoon are 25 minutes. The phone menu is tricky and I keep ending up in the general (non banker) queue which was another 10 minutes. The phone rep told me that the direct extension for the banker line is x6545. You know you are in the right queue if they keep asking to take your number and call you back in the order received.

Bank wires are not instantaneous always. I was informed by my bank that my wire went out at 12 noon EST and it was not received by Kessler until about 3:30 EST.

I was told that this deal ends on Tuesday at 5pm CST and they sounded very firm about that.
BigDave   |     |   Comment #181
Hold times on Monday afternoon are 25 minutes. The phone menu is tricky and I keep ending up in the general (non banker) queue which was another 10 minutes. The phone rep told me that the direct extension for the banker line is x6545. You know you are in the right queue if they keep asking to take your number and call you back in the order received.

Bank wires are not instantaneous always. I was informed by my bank that my wire went out at 12 noon EST and it was not received by Kessler until about 3:30 EST.

I was told that this deal ends on Tuesday at 5pm CST and they sounded very firm about that.....
rzelman   |     |   Comment #190
Wires typically are received the following business day after being sent. The Keesler rep also told me that their wire desk only posts incoming wires periodically so to be sure and check back throughout the day to see when it is credited to the saving account. A 3 hour turn around for a wire is amazingly fast and not something I would assume to be the norm!
SMT1   |     |   Comment #183
A lot of waiting on hold and moving funds from several accounts to grab this deal, but I am finally in! 5% percent is killer in this marketplace. Also fortunate to have locked in the Sharonview 4% CD a while back. Now looking at the AchievaCU 4.2 % IRA. Was supposed to get a callback, but nothing happening.
SYC   |     |   Comment #185
Just deposited my checks for the minimum of $5 for the savings account and the 7-month CD Special at a local share branch. Got a phone call from a Keesler CSR to my cell, as I was pulling into my driveway, to open the 7-month CD Special with the check just deposited. Awesome service!!! Can't get better that.  
Ken, thank you so much for posting this fantastic deal!!
111   |     |   Comment #187
SYC, your experience was a deja-vu of mine. Decided this morning on shared branch as opposed to a wire. At that branch I deposited checks to my Keesler Primary Share account (I haven't opened any others yet). Got home, about 10 minutes later got a call from a Keesler CSR I'd talked with last Friday. Note - he called on what seems to be his personal cell, so for others who may get calls like this, don't be surprised if the number you are called by might not be one associated with Keesler. (Of course, this is also a reason for using a little more scrutiny before proceeding, which I did.)

Based on SYC's experience and mine, I wonder if, during this special at least, Keesler's system automatically notifies CSRs when a customer who's said they want to start a CD makes a large deposit to their liquid account? If so, it's a nice touch.

I expected to have to try to insist that any holds be put on the CD or transferred to the CD, so my funds would not sit in the liquid account for days earning basically nothing. (Much discussion about that earlier in thread.) But a pleasant surprise - no insistence was necessary. The CSR was already prepared to do that, and to create the CD right then. He did so (this took maybe 10-12 minutes hold while he contacted others), and now I see it online, showing opened today and earning 4.95%.

So overall, not a terrible process. I was frustrated earlier by a couple of things, and some of their CSRs were saying things a couple of days earlier that turned out to be different than what happened, but chalk that up to their changes in the scope of this, plus the CSRs are learning too. I get the idea that Keesler, like nearly all CUs, doesn't do this type of thing every day.

So, thanks to all the DA posters who provided help, and to Ken for providing DA.
RJM   |     |   Comment #208
Is anyone else having to get an email confirmation code or answer a security question with EVERY log in? Seems like I am. Its more overkill.

My outside account is linked. My Money Market at AA did the 2 trial deposits & withdrawals.

As a reminder, their website is supposed to be down tomorrow for all you folks like me who don't access it via a phone.
beth   |     |   Comment #210
I had a CSR tell me that ACH transfers are limited to $5K/day. Is that what you heard? The extra layer of security never bothers me. All you have to do is check the box to remember your computer and you can eliminate this layer.
RJM   |     |   Comment #217
I did check the box. But it keeps asking.

Never heard of a $5k a day limit here. But they make mean pushing out from their end?

When it comes close to maturity, I will look into options for getting the money out. I assume transferring it to the share account and then ACHing it out via my broker will be the best way.

A rep at Penfed told me they had a $5k a day ACH limit on pushing or pulling. They were wrong. I was able to pull much more out via my broker when a CD matured.
userjohn   |     |   Comment #333
It keeps asking me every time also. I assume you never found a solution for that.

So did Penfed specifically claim there was a $5K limit for Penfed pushing or another institution pulling (i.e., they were not talking about the limit for Penfed pushing or Penfed pulling)? I don't recall encountering any bank so far that has imposed limits on ACH pushes or pulls initiated by another bank (but every bank has imposed limits on ACH pushes and pulls they initiate). Have you ever encountered any institution that imposed the former kind of limits?
RJM   |     |   Comment #334
my solution is not logging in.

A penfed rep told me there was a 5k limit push or pull but they were wrong because I pulled more than that later.

Any bank can limit what they let you push. I think that might be penfeds daily push limit?

AA also has limits. You can go over with advance permission.
111   |     |   Comment #215
I've logged in maybe 6 - 7 times now, always via a PC not a phone. Only twice did they request that I enter the email confirmation code or answer a security question. Both times I chose the security question.
beth   |     |   Comment #209
Was successful in getting my CD opened this morning. The wire transfer was lightning fast (one hour) and the process for getting the CD opened was painless but the wait time was long.

The whole process took a lot of due diligence and I don't recommend it for the faint of heart. This was a good deal if you had a large sum to invest.
Mike   |     |   Comment #219
Started the process last night at 5:30pm CT and just got large $$ CD funded by 3:30pm CT via wire. Keesler staff and CSR's could not have made this any easier IMO. Great overall service at Keesler. This website saves the day again. I will earn thousands more with this deal, even on a short 7 month investment period. Well worth effort the.
Nothing   |     |   Comment #220
219 alluded to before...what's going happen in 7 months? A higher rate and longer term with new money required? OR higher rate/term only for those that have an expiring 7 month CD? Obviously, something will need to brought out and perhaps only in 6 months or its BK time, and that is not a hamburger brand! Did anyone ever look at the financials and make their own analysis?
rzelman   |     |   Comment #222
Do you know of another secure investment that will guarantee a 5% return on $250K over the next 7 months? If you're content with 2% then you have plenty of other options so this deal is not for you.
Nothing   |     |   Comment #223
Near term you are right on target...that was not for focus of my post
SvyT   |     |   Comment #226
Okay, I am game. What is the longer term guaranteed rate investment which was the focus of your post? Or was the guaranteed rate part not in focus either?
Nothing   |     |   Comment #229
That's a vantage point too. But what about the issuer at month 6 or 7...I sense that does not matter. ...What are the use of all these funds for only 7 months??? More lend long and borrow short...?
userjohn   |     |   Comment #231
Nothing, are you concerned there is any meaningful risk of loss or delay in getting funds back promptly (for amounts within the insurance limit)? I'm trying to understand how/why they are paying so much more than everyone else.
Nothing   |     |   Comment #232
I'm amazed about the lack of concern about the payoff and ability for same...when this rate is over 1+% of the competition? What is the issuer going to do with the funds for only 7 months? Why is the NCUA sitting on the sidelines (or did they issue an offline/private requirement for more funds? Read about the purported NCUA letter to PenFed about two weeks ago and why PenFed is "slowing" down)...what if more offered this rate and some experienced a problem in meeting their obligations...what happens to the insurance fund, timely payment, etc. Everyone seems to be focusing on the near term for such a good rate (on the face of it!)...why isn't the cu posting (here) why it need "so much funding" for only 7 months...interesting it is very silent. To you?
$$$$$$$$$$   |     |   Comment #233
They have 2+ Billion. You,ll get paid.
Not everyone had a Million to invest.
Nothing   |     |   Comment #234
Paid with new funds coming in around month 6/7? Or use existing cash? Is that the way to run a cu?
What is the cu doing with the short term "loan" of funds to it?
SvyT   |     |   Comment #242
Nothing-can you point me in the right direction to find more info about the “purported NCUA letter to PENFED” two weeks ago? I’ve googled and couldn’t locate this rumor. Thanks!
lou   |     |   Comment #224
This is a good deal if you just happen to have $250,000 lying around in a liquid bank account at a very low rate, and you don't need any of the money for the next 7 months. Most of us do not leave that much money sitting idly in a bank account at any given time. So for a few people it's a good deal, for the rest of us it is not a viable option.
111   |     |   Comment #230
Not completely correct, Lou. For example, the funds I moved to Keesler (now earning 5%, for 7 months) were previously earning 1.75, 2.26 and 2.50 (the latter a smaller Rewards Checking acct.). Does that meet everyone's expectation of a "very low rate"?

And I still have "dry powder" (no-penalty CDs) earning 2.40, waiting for upcoming events, including equity downturns. If necessary.
lou   |     |   Comment #236
111, how much of the money was earning 2.26 and 2.50? Are these no-penalty CDs?
111   |     |   Comment #246
I'm not going mention exact amounts in a public forum. However, of the amount I funded the CD with, 60% was previously earning 2.26 in a liquid account (which guarantees that rate until summer 2019). About 8% was earning 2.50 in a "rewards checking account". None of what I used for the funding were no-penalty CDs.
RJM   |     |   Comment #228
In 7 months we move on if this CU does not have a good deal at that time.
Financials ? Its A rated with $2 billion in assets and federally insured.
lou   |     |   Comment #235
RJM and others, why do have $250,000 plus in a liquid bank account at 2%? Is this money from a recently matured CD or do you normally keep this much money in a liquid account?
Big Dave
Big Dave   |     |   Comment #238
Lou, CDs have been paying so terrible in recent years that I have stuck with shorter durations rather than locking in 5 years at a low rate. Finally things are turning up so after this deal I will start to look at longer durations.
lou   |     |   Comment #239
Big Dave, lower duration bonds or short-term CDs is one thing, keeping hundreds of thousands of dollars in a low rate liquid account is a different matter entirely.
rzelman   |     |   Comment #250
One generally accepts a lower rate for reasons of security and liquidity. The alternative of low interest rate bonds or taking new positions in stocks which are at record highs is not particularly attractive to those whose goal is capital preservation
RJM   |     |   Comment #240
I did not have $250k but I had a lot. Why? Because I anticipated better deals ahead. And 2.26% in a liquid account was not a bad place to be.
Although I never would have guessed a 5% 7 month.
I was contemplating the 3.15% 18 month and the 3.43% 30 month but they both ended before I bought them and I am glad.

While I am glad to get this deal, I can't help but think it was poor planning on Keeslers part. I would think they could have planned better such that they would not need to pay 5%.

It will be interesting what they will make available in 7 months to all the money that flowed in for this deal. From what I can tell, other than this one, they do not have anything else that is competitive.
Daniel   |     |   Comment #244
It will be interesting to see what happens in 7 months.

I got this finally set up and put in $250K just because I didn't want to risk any principal and getting more in would have been quite a headache.

They actually gave me a waiver because funds were not available in time from my side but at 4:50 PM EST yesterday I was on a call with Goldman and Keesler on the other line confirming a wire was being sent and a confirmation number that they could enter in their records.

Today I think Keesler is closed so hopefully somebody is not just cashing out all these new investments and running off ;-).

It was a little bit of a pain to open, including fraud verifications for a wire into a new account but it's a 2.92% return for the 7 months and ideally there would be good options to move that into next year.
Ricochet   |     |   Comment #247
Poor Planing ?
It was meant to be a Great Deal for the average "little fish" depositors of the area.
I'm sure they weren't looking for "Whales" to suface.
Daniel   |     |   Comment #248
But then why would they have extended it and relaxed the membership/eligibility requirements to nationwide with a $10 donation?

They were probably looking to raise some funds and due to interest they probably realized that a much larger influx can come in that they can use for other purposes/loans/etc. Hopefully it doesn't backfire ;-)
boston02116   |     |   Comment #254
They probably decided to open it nationwide because they weren't raising enough capital investment from the local area. The area has always been depressed. Not much down there. One of the managers told me they were raising capital for Jackson Ms area.
RJM   |     |   Comment #255
Many of their loan products have rates lower than 5%.

Lets see, borrow at 5%, lend out at 3% and make it up on volume.


Seriously, whatever they are doing with it will last more than 7 months, wouldn't it?
boston02116   |     |   Comment #256
Evidently, they needed it fast for a short period until more lower rate, long term CDs are taken out. I guess it averages out.
RJM   |     |   Comment #251
They opened it up to all Whales which suggests they wanted them.
reeling it in
reeling it in   |     |   Comment #253
Yup didn't have to fish as long.
Interested   |     |   Comment #225
Glad to have gotten this deal. Hats off to the Keesler FCU employees that were professional and congenial throughout this process of getting swamped by new accounts.
JRose   |     |   Comment #227
Same here, I got in with about 2 hours to spare. Ally took forever to get things going. Once I was dealing with Keesler and not Ally, things went smooth. Lots of hoops to jump through for this one, but it is worth it for my present situation.
boston02116   |     |   Comment #243
I'm still waiting for the ACH transfer to go through. I'm starting to see why it takes so long. Took the weekend and two business days for the micro deposits to appear and then will take two more business days from yesterday to fund the account. Online banks are usually next day. Keesler seems to batche in/out the transfers around 9 am. So a day is always lost.
gregk   |     |   Comment #257
Is it a fantasy to hope come mid-March Kessler will allow renewals for the same term and the same rate?

I mean, what is gained by drawing in all these funds only to have everyone pull out 7 months later, - and what is Kessler likely doing with the money?

Anyone care to guess the amount raised by this (no max) offer?
Ann   |     |   Comment #258
No way of knowing how much they raised.

One employee said they're doing something with the money in the Jackson, MS area, whatever that means.
RJM   |     |   Comment #259
Yes, its fantasy. But maybe they come up with SOMETHING to offer us.

They had to realize they could have raised a lot even with a 4% rate or 3.5%.

They are loaning on GOLF CARTS at 2.99%. You tell me how it makes sense to pay 5%.
lou   |     |   Comment #260
This deal makes me realize how great the 5% 10-yr CD Penfed deal was in 2011. It's been 7 yrs with 3 to go. The accumulated interest to date is close to 40% of the original CD.
newbie1   |     |   Comment #261
I am hoping PenFed will offer a renewal deal in 3 years.
Daniel   |     |   Comment #262
Has anybody created a login to the Keesler web page to view accounts/etc.? They sent me a link which is invalid so I was wondering if any of you can log in to your account?
RJM   |     |   Comment #263
Yes, from their main page I think. A rep sent a temp password via email to get started.
Daniel   |     |   Comment #264
From this page:

clicking into "Enroll into Keesler online" goes to a Not Found page...

Do you have any other link to log in?
RJM   |     |   Comment #266
Their site must be down.

I went to my saved link (just their homepage) and the sign on in the upper right hand corner where your username & password goes is not there now.

Not Found
HTTP Error 404. The requested resource is not found.

This was never there before so I'm guessing they messed it up with whatever update of a day or two ago.

Id say wait a day and try again or call. I'm not in a huge hurry to sign in right now because I know whats there. If I had to guess, it will be back up tomorrow or Monday.

I have not logged in since Monday.
userjohn   |     |   Comment #265
Simply enrolling from the home page worked fine for me. The temporary password was sent as part of the enrollment process so no one had to send that ahead of time.
RJM   |     |   Comment #267
Did you try just now? From a computer or phone? I'm on a computer.
userjohn   |     |   Comment #268
Yes it just worked again for me on a computer, and logging in again on the mobile app also worked.
RJM   |     |   Comment #269
I'm getting an error code and so is the other guy. Not sure why. Tried to ask via chat but its not manned. Asked by email but im sure they will just tell me to call them. SMH.
If I wanted to call, I would not have left a message. Duh.
Daniel   |     |   Comment #270
They are probably busy packing the received $ into suitcases. And checking the flight is on time.

Reminds me of these Caribbean banks that used to offer a 7% return when the market was at the 3-4% mark. You want to offer high enough that people are drawn to you but not that high that it sounds like a scam. In the end it was a scam.
RJM   |     |   Comment #271
I have 100% confidence this is not a scam. $2 billion in assets, A rating, federally insured.

Oh and just tried again and the website is back up for me.
Except for the stupid, every time I log in additional security crap. Comes up every time and should not I don't think.
???   |     |   Comment #272
clear all your linked web page cookies or delete links and open new web page link
RJM   |     |   Comment #275
That causes more issues than it solves.
Daniel   |     |   Comment #273
I know it's not a scam, it's just a way to poke fun at the reality. Site is back up for me too and I need to check it at home where I have the account number.

With the CSR notations they actually just transfered the money for me (250K) today and honored the terms from Tuesday PM.
Nothing   |     |   Comment #274
"I know it's not a scam" Opinion verses Fact. What is the CU doing with this "great" influx of funds for a short period of time? No "opinion" on why nothing can be located or is posted...anywhere??? What is their business model characteristics that allow this short term borrowing/lending...want to replicate it!
gregk   |     |   Comment #276
Who here wouldn't have invested the total amount they did had the rate been 4% rather than 5%? I assume no one. Wouldn't a savvy FI realize this? Maybe it was a scam, and many of us will be sending out our resumes again when that becomes evident.
gregk   |     |   Comment #277
I mean no one's even speculated about what these funds are being used for that they'll likely be returning to investors in a mere 7 months (plus 5%), - assuming the funds are still around. Pure curiosity here, - but suppose this were really a fraud. Could we sue DA in some fashion?
gregk   |     |   Comment #278
You know what they say about things that look too good to be true...
SMT1   |     |   Comment #282
Sounds like someone is rationalizing regret of not getting in on this awesome deal. Hopefully, there are more good deals to come.
RJM   |     |   Comment #279
I think a lot of people would have still bought for 4%.

I don't view buying CDs as "investing". I have been investing for a long time and investing implies risk of loss. Buying CDs do not. And its a really, really long stretch to think anyone loses money on this deal.

As far as suing DA over it, that's silly troll talk.
gregk   |     |   Comment #287
Why would you think it's "troll talk" to wonder if DA ever unwittingly wrote up a scam offer whether they would be potentially liable for any member losses of those who relied on that published information to open accounts?
Free Dumb
Free Dumb   |     |   Comment #288
RJM is rightly concerned about trolls, monkiers and russian hackers!

It takes just a minute to confirm whether an account is covered by NCUA.

If you personally have the aptitude to spot financial fraud, your talents are wasted weeding out CDs from legitimate credit unions. Much more profitable opportunities await your expertise.
Nothing   |     |   Comment #289
Pearls of wisdom? What about all those seniors who bought worthless annuities that is currently in the news? Your right, no due diligence may be rewarding!
Free Dumb
Free Dumb   |     |   Comment #290
I don't know of any NCUA insured annuities of any sort, certainly not any that are worthless, please do share.
Nothing   |     |   Comment #292
Thus, if one reads your comment, having NCUA is the sole answer from your it!
Free Dumb
Free Dumb   |     |   Comment #293
For a 7 month CD? What else do you think matters?
SvyTraveler   |     |   Comment #310
Nothing-in your comment #232 you mentioned a “purported NCUA letter to PENFED” 2-3 weeks ago. I’ve googled and couldn’t locate this rumor. Thanks in advance for your response!
Nothing   |     |   Comment #311
As I recall "the private letter" was buried/referenced in another article (not primarily about PenFed) that was either in the USA Today or WSJ...ask PenFed and see what they say...clearly they have not been "as aggressive" as they use to be!
userjohn   |     |   Comment #313
Nothing, for money within the NCUA insurance limits, how much risk do you think there is? I assume that if the CU has serious financial problems, the NCUA would provide immediate relief? But is there any realistic risk that the money could not be released promptly, where the NCUA would not provide immediate relief if the CU’s overall condition is ok? I’m still puzzled why they offered such a high rate.
Nothing   |     |   Comment #314
I asked who has done a financial analysis...I didn't see one except some summary statement as to the "billions" on its balance sheet...that is not what I'd call a financial analysis even if only by a layperson. Those that have money in there will find out in 6 or 7 months...perhaps NCUA was/is asleep at the wheel...we shall see. Insurance is nice but not doing due diligence is not justified by my view. And, why isn't PenFed being aggressive as it use to be? Perhaps others will follow....
big words
big words   |     |   Comment #315
nothing, you were asked to provide names of those worthless, ncua insured annuities you claimed exist.

why would anyone do a financial analysis before buying a CD from an insured credit union?

Here's a hint. These CDs are for seven months. There are billions of dollars in longer term debt. These CDs will be repaid before all those billions in other liabilities. That is why the other liabilities matter.

userjohn, to answer your odd question, don't expect any help from the NCUA if a credit union is in good shape, why would there be?
Nothing   |     |   Comment #316
You said the annuities were ncua insured. The news reports referred only to an annuities fraud, i. e. Did they do any due diligence? Hope you are “right” about the viability but wishing/hoping normally won’t do it! BTW what is the credit union going to do with millions in CDs due in 6/7 months...oh, I forgot that you only look to insurance.
Free Dumb
Free Dumb   |     |   Comment #318
Nothing, you made some vague claim about annuities and you were asked why that is relevant.

userjohn, vague anonymous comments are a waste of time. which small credit union refused to close someone's CDs? How is that relevant here, Keesler is not a small credit union. NCUA does not "help out" it provides insurance in case of credit union complete failure.
userjohn   |     |   Comment #320
Free Dumb, although I’d like more details from SmallCU, I’d have the same fundamental concern without that comment, which is that I've not seen any good explanation why Keesler would pay such an outlier rate with no cap. Does anyone here know how often other similar (this much better than everyone else) offers have been made by financial institutions and the outcomes? SmallCU’s vague description of the unspecified CU as “small” seemed unimportant, as institutions much larger than Keesler have acted improperly. Various people here have said they are relying entirely on NCUA insurance, not the CU’s size or financial condition. The NCUA does help in ways other than paying insurance upon complete failure, as they have a broader mission to provide supervision and regulation and protect consumer rights, but I specifically focused on immediate relief, such as payout upon failure, or takeover by another CU before failure, because I’m much less interested in help after lengthy regulatory action or litigation
userjohn   |     |   Comment #322
Free Dumb, I already asked specific questions, which you apparently can’t answer. Most importantly, you’ve provided no explanation why the CU would pay such an extraordinary rate. You’re the one “all over the place”, responding to nothing “For a 7 month CD? What else do you think matters?” (i.e., only NCUA insurance) but then also arguing about size (which is irrelevant if only NCUA insurance matters), and making the false claim that the only help NCUA provides is insurance payout on complete failure. Given your logic, you’d have no additional concern if the rate were 10% rather than 5%.
Free Dumb
Free Dumb   |     |   Comment #323
userjohn - It would not occur to me to ask why a financial company pays a certain rate, it is not relevant in this case.

You responded to an incoherent comment about the size of a credit union, which, of course, is not relevant. I surely never said size matters, I have simply asked why you think it matters. Glad you understand it does not.

Yes, 10% would be just fine with me, would not hesitate, as long as NCUA confirms the credit union is insured.

Any other questions?
userjohn   |     |   Comment #324
Free Dumb, I never thought the CU being small was important. I quoted SmallCU only to reference the alleged behavior of failing to pay, not size, which is why I said nothing about size concerns in my own original comments.

So you would have absolutely no additional questions and not even "hesitate" no matter what the rate (e.g., 20%, 100%, or more)? It seems like common sense that additional questions are appropriate depending on how inexplicably high the rate is (even if there may be room for reasonable disagreement about whether this particular 5% rate is high enough to require much questioning).
userjohn   |     |   Comment #326
Free Dumb, if you now realize you were mistaken in claiming the rate is entirely irrelevant (which is obviously false), then what rate would be sufficiently high to cause you any additional questions or hesitation? I mentioned 10% as a preposterous rate that would clearly be high enough to merit additional questions, but apparently that wasn't high enough for you.
userjohn   |     |   Comment #317
big words, I think you misunderstood me. I did not expect the NCUA would provide immediate relief if the CU’s condition were ok, so I was wondering how much risk there was of a failure by the CU to pay promptly in that scenario. I'm primarily concerned about that scenario because if the CU is failing, presumably the NCUA will provide immediate relief (which is why you said financial analysis should not be needed). In SmallCU's situation (“For those who were lucky to open the 7mo CD, I guess they will give you run around to close it. It happened to me in a small credit union…”), I’m assuming the CU was not in bad enough condition for the NCUA to help, but more details from SmallCU would be nice.
SvyT   |     |   Comment #319
Thanks, I located the WSJ article that mentions a regulatory warning related to PENFED’s acquisition of 13 smaller credit unions within 20 month period from 2015 to 2017 and PENFED’s response that it was well within regulatory guidelines. It also contained a rumor that PENFED had declined to make loans that Beloir FCU would have made prior to acquisition by PENFED and that PENFED told former BFCU employees to stop baking cookies for customers. :-)
Nothing   |     |   Comment #329
You got it! And it seemed to have worked given less aggressive action...probably on some watch list!
losingtrader   |     |   Comment #304
Here's another suggestion:
If the CU failed, you'd want to owe them more than they owed you because you have a right of offset. So, if you got the 5% CD, go borrow on a couple new Bentleys at 2.24
Nothing   |     |   Comment #330
Losing...better get a new BK attorney...that is not the way it works...they have an offset right, not you!
RJM   |     |   Comment #280
For anyone who has Keesler set up in Mint,

Are you getting it double counted today?

I set mine up as soon as I opened the account and have not had a problem until this morning. Today, it shows two CDs for the same amount which overstates my total.
RJM   |     |   Comment #281
I chatted with mint, they did a refresh on their end and the 2nd account went away. I had already tried a refresh on my end first without luck.
boston02116   |     |   Comment #283
Still waiting to be get the CD funded. CSR says the system didn't allow the ACH transfer. Couldn't say why. Then she tried Western Union Speedpay but says it wouldn't work either. Now waiting for call back since yesterday.
RJM   |     |   Comment #284
I called because I had not gotten the signature card. She is sending it out. Apparently they forgot.
I used the opportunity to ask again about the notarization and pointed out that I thought it was overkill given the credit report and 4 identity questions. At first she said they needed it but then got a 2nd opinion and said it was not needed. Did not ask about the drivers license but I am not going to send that either and see what happens.
Daniel   |     |   Comment #285
To be honest I had all my stuff ready to send in and then I called and they didn't even ask for the signed application or driver license...once the account shows up correctly I will have those on stand-by in case they get asked but they went through the credit report, SSN validation, etc. so why is the other stuff needed? The DL number was requested as part of the application so this would just be a picture ID to satisfy the patriot act?
maybe   |     |   Comment #286
I'd say that most likely those kind of documents are more for local in person ID verification and noting out of state members
losingtrader   |     |   Comment #305
Or if you die
gregk   |     |   Comment #291
RJM, you give every indication of spending every single day from morning to night either tracking your accounts, or cataloging on DA with excruciating detail your every thought and action in regards to doing such.
It's like a reality show.
beth   |     |   Comment #294
RJM, your comments have been very helpful! Feel free to keep sending your thoughts.
111   |     |   Comment #296
gregk - First of all, my own assessment is that RJM's posts have been very helpful. For one thing, he dived into this particular deal just a little before some of the rest of us did, therefore his information about his experiences was quite useful to several of us.

Secondly, I have to smile just a bit at your "reality show" comment. If RJM is doing a reality show, you seem to be among its biggest fans - noting every post, offering critiques, etc. Or perhaps, as another poster said above, just "rationalizing regret".
gregk   |     |   Comment #297
Well, I never said RJM's posts aren't often helpful (they are), nor were my comments made with any derision or exasperation. Just an expression of curiosity and some wonder over his omnipresence here, and meticulous attention to every small detail of both his personal financial circumstance and the account mechanics of all the bank and credit union products we consider, together with the impulse to lay it all out for us in such an ordered and all-encompassing fashion. I mean, it's astonishing that fully 60 out of the 278 posts on this topic alone are by RJM, and in terms of word quantity the percentages are even more lopsided. It's truly a virtuoso performance, and in no way am I suggesting he stop, nor unaware of some irony in the verbosity of my observations concerning it all.
RJM   |     |   Comment #298
jeez, you are counting posts now?

deplorable 1
deplorable 1   |     |   Comment #299
I for one appreciate RJM's posts and those of many others here on DA that provide much needed and useful information regularly. The devil is in the details as they say and when it comes to all things banking and financial all those little details can mean the difference between success or failure.
SMT1   |     |   Comment #306
I am very new to this community of conservative fixed-income investing. IMO, folks following these threads should be thankful to those willing to spend their time doing research and posting for the benefit of others. It seems to me, the purpose of this forum is to multiply your efforts by sharing information and knowledge, so each of us as investors can benefit from someone else's post, and others can benefit from your posts. And some folks get a real sense of accomplishment out of helping others, so they spend more time doing so, and should never be discouraged.
Bogie   |     |   Comment #307
One of the biggest mistakes you can make is to take everything you read on any internet forum as fact. Particularly when it comes to acting on advice from complete strangers on matters concerning your own safety or financial well being.
boston02116   |     |   Comment #295
I finally did a shared branch deposit. All week CSRs were telling me it can't be done until the account is funded. Meanwhile everyone here was doing it. I finally got the best CSR I've had. Now I understand how it works. Credit unions are great. I have a good one but I need another local credit union. I'm a former DEC employee. But DCU has bad reviews?
OnlineBuyerHome   |     |   Comment #301
I missed out on this deal. Called them Wed morning, and they said it's too late. Any other similar deals?
losingtrader   |     |   Comment #309
I agree. Fear not. Before, during, and after the financial crisis, Interactive Brokers was offering it's own private placement notes at 7% even when rates were near 0.
If you can read financial statements and understand them, there was no reason to avoid these.
With a CU, you jump first and ask questions later. I had a number of banks and CU's that were seized during 2009 and 2010 and I received a check for my money within a few days.

We're not in an environment where banks and CU's are struggling.
userjohn   |     |   Comment #328
Someone at Keesler made the surprising claim (which I’d never heard before) that beneficiaries must be close family members in order to qualify for $250K insurance each, but NCUA said there is no such requirement and qualified non-profit beneficiaries should also be covered. I assume no one here has heard of such a requirement either.
???   |     |   Comment #331
qualified non-profit beneficiaries, what would be samples?
userjohn   |     |   Comment #332
According to the NCUA: "A trust beneficiary can be an individual (regardless of the relationship to the owner), a charity, or a non-profit organization (as defined by the IRS)."
SMT1   |     |   Comment #335
There is also a search tool listed:
Here is how it works:
i.e. A joint account with 5 beneficiaries can be covered up to $2,500,000.
SMT1   |     |   Comment #336
Additional details:
gregk   |     |   Comment #337
In my experience it's almost always a complete waste of time to try and talk with bank or CU reps (even at the managerial level) about the provisions and rules of deposit insurance about which they typically have no more than a very primitive and merely generic understanding. Don't bother. Just make certain you have your own independent grip on how coverage applies to the situation you're in and establish the accounts accordingly. It's unnecessary that anyone at the FI comprehend what you're doing, and attempting to engage with them over it will result only in exasperation.
dollarsncents   |     |   Comment #338
I always believed management at banks and CUs on any level have more important work to do, along with CSRs, than to explain FDIC and NCUA insurance programs when that information is easily found and clearly explained on the appropriate government websites. Even giving examples of different coverage scenarios and interactive work sheets.
big words
big words   |     |   Comment #339
Whoa! Always??
userjohn   |     |   Comment #340
gregk, I didn't realize misunderstanding of NCUA and FDIC insurance was so widespread among CUs and banks. Keesler confirmed they were mistaken. What's more amazing is that even a NCUA representative greatly misunderstood their own rules and I had to point out the correct information I had read on their website (which they later acknowledged was accurate).
big words
big words   |     |   Comment #341
did you ask them what they would do if a small credit union refused to return your money?
userjohn   |     |   Comment #342
big words, they said it would take them about 2-3 months to resolve such a case against a CU. Has anyone here had any experience with a NCUA case where the CU owes money to a member but isn’t failing?
big words
big words   |     |   Comment #343
thanks so much userjohn!!!

so credit unions are free to not pay CDs at maturity!! this is big news!!!

sounds like calling mom is more effective than calling ncua!!
111   |     |   Comment #352
"Small"? Keesler is a $2.6 billion CU, the largest CU in Mississippi, and in terms of health, rated nearly as high as Alliant (actually better in capitalization).
111   |     |   Comment #345
The real problem is that sometimes-nasty "interface" (for lack of a better word) between NCUA rules and the CU's rules. For example, you can and should research NCUA rules well enough to learn that POD beneficiaries need not be relatives, no matter what a CU employee tells you. But the real problem comes if the CU has a policy of simply not allowing POD beneficiaries on their CDs, or their other accounts, or perhaps limiting the number of POD beneficiaries to a very low number (say, 1). As with several NCUA rules, NCUA specifies what must happen IF a CU chooses to offer a certain functionality, but not that the CU MUST offer that functionality to the customer.

A somewhat similar situation is with POD beneficiary Social Security numbers. Some customers object to a CU requiring SS numbers for POD beneficiaries, but that doesn't stop some (but not all) CU's from doing it. That tells me that the NCUA has neither a rule that SS numbers MUST be required, nor one that they must NOT be (because in this case the CU would assumably be prevented from asking). Also, a CU cannot change the NCUA rule that says each additional joint owner gets (basically) another $250K in insurance, but a CU CAN definitely limit the number of joint owners allowed on an account, and possibly may be able to restrict the account to just a single (primary) owner.

It makes me wonder, regarding the example mentioned above - would a CU be able to have a restriction that POD beneficiaries be members of that CU, or even relatives of the customer?
userjohn   |     |   Comment #347
111, that’s really interesting. I didn’t know CU’s can restrict the number of beneficiaries. Given that, it wouldn’t surprise me if they could restrict the set of permitted beneficiaries. Keesler claimed that the incorrect information about a requirement that beneficiaries be immediate family members used to be a NCUA requirement and no longer exists, so they weren’t trying to add further restrictions to the NCUA rules.
userjohn   |     |   Comment #344
Keesler said there is no written document describing all the terms of the 5% 7 month CD. Is that normal and permissible for a CU CD? Has anyone else here received any such document? At least for banks, I thought there were formal documents for everything.
userjohn   |     |   Comment #348
Did everyone here who opened this 5% CD do it by phone, and did Keesler say you had to sign a form and return it within 30 days after the CD opening? If so, what was the title of that form? Did they also send you a Truth is Savings document, and if so was it identical to the one linked above in this post but with an effective date and term and dividend rate and APY for the CD filled in on Page 1? Were any other documents relating to the CD terms provided or signed forms required (other than the beneficiaries form if applicable)?
RJM   |     |   Comment #353
I opened mine by phone, shared branch and several phone calls.

I don't recall getting a truth in savings document. But I might not have paid much attention because I can see when I log in that I am getting the 4.95%

I got a beneficiary document that I signed and I guess the account opening document that I also signed. I got them in different envelopes but returned them in the same.

I think the cover letter asks for a copy of your drivers license and wants your signature notarized but on my last call, I pressed the rep on if those were "REALLY" needed because they already did a credit check and the 4 security questions. I said it seemed like overkill. At first she said they were required but then got a 2nd opinion and said just sign & return it and I would be fine. So that is what I did. Went out in today's mail. What I did not do is write down the reps name so they may end up sending it back. I hope not.

My guess is the drivers license and notarized signature were required from BEFORE they started doing the hard pull and the security questions but most of the reps don't know any better because they were taught that way and not retaught with the new data.

I also got a "free gift" in a different welcome envelope. Its a Keesler refrigerator magnet.
"Important to YOU. Important to US" is their motto on the magnet.
gregk   |     |   Comment #354

I received three documents, - the Share Certificate Agreement (with all the pertinent information about me and the Certificate terms), a Designation of Beneficiary form, and a Signature Card to certify the Agreement.
111   |     |   Comment #355
gregk - The first of the 3 forms you mentioned receiving, the Share Certificate Agreement - did that one actually have those words, "Share Certificate Agreement", printed at or near the top of the form? I ask because I don't seem to have received that one yet. However, my "Designation of Beneficiary" form for the CD does list, as you put it, "all the pertinent information about me and the Certificate terms" - for example, the 5% APY, the 7-month term, the balance, the maturity date, and the fact that all dividends will be paid at maturity.

So, I'm not too concerned that this is an invalid or fraudulent offer - I'm just wondering where my Share Certificate Agreement form is.
111   |     |   Comment #356
gregk - Also, did you have to make any kind of special request to Keesler to get the Share Certificate Agreement form? Thanks in advance.
gregk   |     |   Comment #357

Yes, the "Share Certificate Agreement" I received is titled as such at the top of the form. To be more precise, at the very top of the form is listed "ACCOUNT STATUS CHANGE", and then just below that is "Change Request: Share/IRA Certificate Agreement" followed by all the terms of the CD (i.e. account#, date issued, term, dividend rate, APY, maturity date, etc) and my own personal info.
One curious thing, however, is that the space for "Amount" is left empty (in my case) which is a bit unnerving (do others who have received this form see the amount of their deposit there?). Unlike the "Designation of Beneficiary" form you received, my copy shows only my personal info and the Account#, without all the CD terms you see. The balance in my account I see online is accurate, but it's weird that nowhere in the documents I received is that indicated.
111   |     |   Comment #359
gregk - Thanks for the info. In looking at my forms again, I see that I wasn't paying attention before. I DID indeed receive that "Share/IRA Certificate Agreement" - earlier I saw the "ACCOUNT STATUS CHANGE" line, thought it might be something else, and didn't read any further. Dumb. That means what I said about the beneficiary form is incorrect too, because I was actually looking at the "Share/IRA Certificate Agreement" form when I wrote that.

In any case, my "Share/IRA Certificate Agreement" form indeed DOES list the amount of my CD, in that first box, and it does match the amount I see online.

If I were you, I'd probably give them a call or chat next week about that blank field. One assumes they would be able to send you a corrected form. But based on my experience and what I read earlier in this thread, I still think that due to being swamped, Keesler has made a few fairly small errors that will turn out to be non-critical.
userjohn   |     |   Comment #349
Was anyone else here given an exception to open the CD this week (even though the deadline was originally last Tuesday)?
peter pecker
peter pecker   |     |   Comment #350
Did anyone here send a Western Union money order to open this so called CD?

I am getting worried, and wished I had asked some of the questions being asked now!!!
userjohn   |     |   Comment #351
peter ****, can you please explain more about what happened that has caused you to get worried?
gettin on
gettin on   |     |   Comment #358
Has Anyone Talk wiih doctor Kessler after sending the monies??
Daniel   |     |   Comment #363
Do you have a sign-on account and can you see the funds into your CD on their website?

What are the worries about this being a fraudulent offer? I think it's doubtful?
Jason777   |     |   Comment #364
I opened the cd on 8-20. Today I received my monthly statement for the end of August. No interest was credited to the cd. Should I be worried? Has anyone else gotten their statement yet?
nancy air
nancy air   |     |   Comment #365
some accounts required debit card use, direct deposit, ect?
QED   |     |   Comment #366
Should you be worried? Well, if you telephone the credit union and they advise you you're not earning interest on your deposit then, yes, you should worry. Otherwise, if they tell you there is interest accruing in your account, then I do not believe worry is appropriate.
DAJunky   |     |   Comment #367
I believe the term deposit disclosures state:

      Terms of less than 1 year: dividends are paid at maturity.
      Terms of 1 year or more: dividends are paid quarterly.

So seems appropriate 7 mo. promo interest won't show up until maturity.
Also, this likely means 1099-INT interest reporting deferral until 2019 tax year.

Of course, this couldn't be correct if you'd requested distribution of monthly interest check
payments, instead of compounding, for example. However, I'm not sure that payment option was
available for this deal. If you're still concerned, I'd give them a call, as reader QED suggests!
Jason777   |     |   Comment #369
QED and DAJunky... thanks for the replies. Yes, you are correct. KFCU confirmed that interest is posted and paid at maturity.
Free Dumb
Free Dumb   |     |   Comment #370
I think it is supposed to be posted monthly and paid at maturity?
DAJunky   |     |   Comment #371
The section "Compounding and Crediting" of the disclosures notes:

"Certificates with a term of less than one year do not offer compounding
since dividends are paid at the end of the dividend period, which is the
stated maturity."

This seems consistent with observations of no posted interest
on the monthly statement, which others have recently noted.

So all of the information jason777 obtained from KFCU appears to be correct!
Nothing   |     |   Comment #372
Part of due diligence.
diamond jjane
diamond jjane   |     |   Comment #373
Indedd mr nothing!
shane goode
shane goode   |     |   Comment #374
No interest until the end???

Thanks, no thanks will have to pass red flags!
RJM   |     |   Comment #375
Red flags over interest at maturity?

Don't worry, it was dead a long time ago
111   |     |   Comment #376
Regarding the dividends being paid at maturity, one of the Keeler CSRs told me this when I was funding the CD. Also, it's mentioned on the " Share/lRA Certificate Agreement" document that everyone has hopefully received by now.

Turned out to be kind of icing on the cake for me, since I'm looking to push income into next year (and pull deductions into this year), wherever possible.
RJM   |     |   Comment #368
Just as I feared. I got my paperwork returned and they are insisting on the notarized affidavit and picture ID as well as a wire/funds transfer agreement which asks for a password and a payment order limit. I guess we choose our own limit?

And of course, I did not write down the name of the rep who told me I did not need to send that stuff in. Or maybe I misunderstood ? But I don't think so.

Note, I already did the trial deposits thing last week without issue.
111   |     |   Comment #377
Just FYI - for those who no longer have accounts with local banks or CUs, often the public library and/or the local police station makes it a point to have a notary available. That's true in the small city where I live, and their services are free to residents.
RJM   |     |   Comment #378
I never would have thought about those options. Thanks for that. But, hopefully the local CU where I have an account can/will handle it for me.

Not real sure what to do with the transfer limit they are asking for. Do I put unlimited or what? And writing the password on paper makes me uneasy too.

Is that needed to ACH out when it matures from an outside bank or broker?
111   |     |   Comment #379
RJM - "Is that [form] needed to ACH out when it matures from an outside bank or broker?" Good question - I don't know for certain whether it is just for wires or also covers ACH transfers. And if it covers ACH transfers, does it also cover (limit) ACH transfers initiated from the other financial institution? This is rare, but it does happen. In my online application (if I remember correctly) there was some point where I was forced to choose a "Maximum Dollar Limit per Funds Transfers", and as I interpreted this, the largest amount I could select was $50K. So I selected $50K. So days later when they mailed me documents, these included a "Wire/Funds Transfer Agreement" form, with data pre-populated (including the password, by the way), including that $50K limit. I called and asked about this - they said it was no problem to increase this limit, and they emailed me a PDF of a blank form.

When I sent them back several forms a few days ago, this was one that I chose to have notarized (not sure if it was necessary for this one or not). Since my data was already pre-populated on the original form they mailed, I chose to just cross out the $50K and write in a much higher number which more than covered my CD, then signed and dated it. I'll probably wait a few more days then call and confirm with them the higher limit, ask them about ACH transfers, etc.. (Hold times are back to normal now.)

When this CD ends, I definitely want to have at least 2 "exit strategies" available, including wiring funds out (in one shot), and ACHing funds out, in as few shots as possible.
RJM   |     |   Comment #380
I think I wrote $250k on mine. My CD was for less.

I got a dedicated notary form which was unlike one I had ever seen before. It did not have a place for me to sign just the notary. As for the password, I just used my security question answer.

My local CU took care of it and a copy of my license too Today. Still wonder what might have happened if I just failed to return any of that stuff. My guess is nothing and I could ACH out when the CD matures.
RJM   |     |   Comment #381
Got a letter from Keesler today. Heavy stock paper & envelope.

Welcome to Elite Prime Membership. (For those 50+ with at least $50 on deposit)
No huge benefits except maybe the free bank wire transfers.

This could be helpful when our CD matures unless Keesler has another CD special at that time.

The letter also pushes their ultimate checking which is free to Elite Prime members. (But as far as I can tell, no huge deal, a handful of benefits of little real value)
RJM   |     |   Comment #382
Thats $50k, I left out the k.
RJM   |     |   Comment #383
Will the benefit of free wire transfer be available if we wire out most of our money? Leaving maybe $5?
SMT1   |     |   Comment #384
Is anyone concerned that Keesler's website has been down all day? I have not checked the website for quite a while, so I do not know if it has been down longer than just today.
Racer   |     |   Comment #385
Not the first time eether

onee more RED FLAG!
gregk   |     |   Comment #387
Anyone else not able to login to their account recently, - and repeatedly getting an "unexpected error" message?
Luvcd   |     |   Comment #388
And the EWP is?
Daniel   |     |   Comment #389
Does anybody find it strange that there is no money posting in the CD either monthly or quarterly? I called Keesler and they said for this promo CD they would post all the money in a lump sum at the end of the period.
RJM   |     |   Comment #390
Doubt that anything is wrong.
SYC   |     |   Comment #391
Daniel, their Truth in Savings says the same as you were told when you called Keesler. Under Share and IRA Certificates, Crediting, Compounding and Dividend Period, it reads: "Terms of less than 1 year: dividends are paid at maturity."
don gable
don gable   |     |   Comment #392
This so called DEAL is ONE B IG RED FLAG!
RJM   |     |   Comment #393
Yes, a total fly by night operation, with $2.6 billion in assets, 21 branches, 214,000 members and federally insured.

We have all been duped.

RJM   |     |   Comment #396
I chatted with Keesler friday in the chance the CSR had heard about any replacement CD deal when this one ends around the end of March for me. Nope.

I hope they come up with something competitive.
Have to think its possible because when Keesler was getting a lot of outside interest, they found a way for those ineligible to join.
gregk   |     |   Comment #397
I went "all in" on the Keesler CD, figuring deposit rates (in particular on the longer term CD's) would still be rising in March 2019 when the account matured, and this would be a great "holding maneuver" while I waited for the peak. While I've no regrets (5% just could not be passed up), the timing hasn't quite worked out as I envisioned, with several 4% 5 year CD's having come and gone in the interim. Will have a large amount to deploy now at (perhaps) sub-optimal rates when this thing comes due, and hardly expect Keesler to make a serious bid for retaining the funds. Still, will be happy with the windfall provided upon the crediting of interest. Was one of the better deals we've seen here over the years, and good reason to again be grateful for the incomparable utility of DA.
gregk   |     |   Comment #398
BTW, Keesler's best CD offer presently is 5 years at 2.15%APY. How many will be keeping their funds there at the end of March if that doesn't change?
Luvcd   |     |   Comment #399
Any fee for closing an account such that leaving a token amount on deposit will not trigger that fee? No Gotch-ya
RJM   |     |   Comment #400
Not a lot of reason to close a credit union account unless you really need the $5..
(Some are $25)

I expect them to offer us something. It certainly won't be another 5% deal.

Those of us over 50 may be entitled to free wire transfers? But that is not clear if the wire would take us below $50k on deposit.

Welcome to Elite Prime Membership. (For those 50+ with at least $50k on deposit)
gregk   |     |   Comment #401
What would it take for you to renew with Keesler RJM?
RJM   |     |   Comment #402
Depends on the term. Probably a rate within .10% of top rates open to me or everyone and a term of no more than 3 years probably.

When my first NASA cd matured on 1/20, they did not have a top rate.(15 month at 2.75%) When my 2nd one matured on 2/5, they did. So I bought mostly the 15 month at 3.20% with a little of the 25 month at 3.25%.

With any bank or credit union I already have an account, I would prefer to stick with them if their rate is close.

I would hate to miss out on a way above rate on a future deal because my application was rejected for too many chexsystem inquiries or whatever.

So my goal this year is to only open a new account if the rate is well above market.
111   |     |   Comment #403
Yesterday I got a "Certificate Pre-maturity Notice" from Keesler (you log in and select "eNotices" to see it). Long story short, they DO have a renewal offer, for another 7 months, however, "The dividend rate and annual percentage yield that will apply to your certificate, if it is renewed, has not yet been determined. That information will be mailed to you at maturity."

However, they also state " On the Wednesday prior to maturity you may call (228) 385-5500, toll free 1-888-KEESLER (533-7537), TONI (the Touch Tone Teller), or visit to obtain the current rate." In my case, that gives me about a week's notice.

I'm making plans for EITHER a low-ball offer, or a pleasant surprise. Note that if you are over 50 AND have over $50K at Keesler you qualify for what they call "Elite Prime membership". Among other things, this allows you free outgoing wire transfers.
111   |     |   Comment #405
To add to my earlier post - their form also seems to give one the option of changing the term - they have checkboxes for 3, 6 & 9 months, 1 yr, up to 5 yr. Of course, they don't list those rates either.
RJM   |     |   Comment #408
I just opened mine. I get the impression they want us to sign & return that form unless we want to renew. And its a very tight timeline.

If I don't like their 7 month and want anything other than the 7 month, I MUST sign and return that stupid form ?? With a very tight timeline to do so.

I had assumed I could do whatever I wanted by phone. If that is not the case, I probably won't be a happy camper.
SMT1   |     |   Comment #409
RJM #408 I think they give the maturity notice 30 days prior. My CD matures on 3/20/19 and I received the notice a couple days ago. I don't like that you have to mail a form in instead of handling online with directions to transfer funds to the Savings account at maturity. Too much leeway for something to go wrong and they end up saying "sorry we were swamped, your form came in too late and you missed the window so your funds were renewed in another 7 month CD" a lousy rate. I filled out my form not to renew and sent it back ASAP via Certified Mail to ensure I have documentation of when they received my form. If they do come out with some other great rate before maturity, a phone call to Member Services should be able to cancel the directions in the form and renew another CD.
Cor   |     |   Comment #410
I messaged them requesting to put it in my share account at maturity. They replied back saying it will be done. If a miracle happens and they have a great rate at maturity, I will call them or message again.
RJM   |     |   Comment #411
I emailed Keesler has night asking about this. The rep responded:

Your certificate matures on 3/17/19. You can log into your Keesler Online and send us a message board email, with your request. We are offering a special of 19 MO @ 3% APY, exclusively to members who took advantage of our 7 MO Promo last year. Please let us know if you would like to take advantage of that unadvertised offer, or if you would like is to close your certificate to the savings account. Please let us know if we can assist you further.

That is not good enough for me so unless they come up with something better, I will probably close it out.

I will need to ask if I get the free wire transfer previously discussed or not.
111   |     |   Comment #412
On the "free wire transfer" question - if you were mailed the same gray, heavy-stock fancy letterhead I was, it stated that those with "Elite Prime Status" (over 50 AND over $50K with Keesler) - "... now have no fee for bank wire transfers, and ...", etc. In other words, the free wire capability seems to be already set up. But for most of us, if we decide to close out our 7-month CDs we are no longer "over $50K" - so, it's a 1-shot deal for the free wire out.
RJM   |     |   Comment #406
I got the email last night but did not even go there, thanks for informing me.

I am over 50 and I got something (a nice heavy stock card, but not a postcard if I recall) from them saying I qualified for or welcome to the Elite Prime and I saw that it said free wire transfers. But, I am unclear if that would apply to me wiping out 99.9% of my assets and leaving just the $5. And after this long, I am unclear if I had to do anything or if it was automatic.
RJM   |     |   Comment #407
I just found my post at the time, Not a card, heavy stock paper.


RJM | Sep 24, 2018 | Comment #381
Got a letter from Keesler today. Heavy stock paper & envelope.

Welcome to Elite Prime Membership. (For those 50+ with at least $50 on deposit)
No huge benefits except maybe the free bank wire transfers.

This could be helpful when our CD matures unless Keesler has another CD special at that time.

The letter also pushes their ultimate checking which is free to Elite Prime members. (But as far as I can tell, no huge deal, a handful of benefits of little real value)
111   |     |   Comment #413
"a special of 19 months @3% APY" - Not good enough for me either, although not completely unexpected. Interesting how they frame it as an "unadvertised special"... apparently, somebody there has been to marketing class.

Here's the thing. I have little doubt that last August, Keesler needed to open up their field of membership beyond their "base" area in rural Mississippi, because even paying a seriously above-market rate (5%) they needed more funding for, well, something. Why? Probably a project in Jackson - see prior posts. So they opened up membership to us out-of-towners with the (relatively) big bucks. So now, they offer us a "special" renewal rate that is, truly, well above their normal rates (but then again, their normal rates s*ck). The problem for them is that we all realize that their normal rates s*ck, since we frequent and most of their regular clientele probably do not.

So, what to do? I'm curious - if nearly everyone here sent in their forms as early as possible, saying "do NOT renew, for ANY term, but instead upon CD maturity please send me back all my money ASAP" - would this somehow light a fire under Keesler and improve the renewal rate they might offer? Probably not - but is it worth a try?

There's little downside, since the "Certificate Pre-maturity Notice" states "You may instruct the credit union as to the disposition of the share certificate within a 10-day grace period following the renewal date."
RJM   |     |   Comment #414
I just got an unsolicited call from Keesler informing me of the new 19 month 3% deal.

I asked if he could make it so the CD went to my share/savings account automatically at term end and he said no, that I would have to wait for the upcoming paperwork and he mentioned the 10 day whatever its called.

I asked about the free wire transfer out since I am over 50 with over $50k in assets and he said, yes it would be free. But, he sounded like a really young guy. Probably a new employee calling everyone who got the 7 month deal.

I have a question about the 10 day grace period, are we paid at the old 5% rate or the new low rate for a 7 month?

I have never done anything except immediately reinvest or transfer.
gregk   |     |   Comment #423
You wouldn't be paid anything during the grace period if you chose to withdraw the funds.
Beth   |     |   Comment #415
After receiving the eNotice about CD renewal I sent Keesler a message asking to have the funds transferred to my share account upon maturity and whether I was eligible to receive a free wire transfer of all the funds to another financial institution. They said yes to both and sent me a wire transfer form. They also informed me that my original paperwork was not in order (notarized doc) and I'd have to send in the American Cancer Society paper work again.

With all the frenzy that went on opening this CD and inconsistent customer service, others may want to check to make sure nothing went work with their paperwork.
RJM   |     |   Comment #416
I am sure I sent the notarization in. Did not realize I would need a wire transfer form.

I guess I had better get that.
258963   |     |   Comment #417
Same thing happened here. I had to fax all of the original new member paperwork to them last week. I emailed them and confirmed they received it all hoping this will not cause any delay next month when the CD matures. At the same time I faxed my redeem/renew CD form that I just received in the mail.
cor   |     |   Comment #418
Are they giving the free wire because you are over 50?
Beth   |     |   Comment #419
Yes, cor, over 50 years old and at least $50K deposited.

My paperwork was sent by secure email on Saturday. They can send you a link for secure email although Kayla had trouble understanding the difference between email and secure email initially. I certainly have to follow through with her today by phone.
gregk   |     |   Comment #420
Why are they just raising issues now about "original paperwork not being in order" 6 months after we established membership and the CD's, and on the brink of those CD's maturing?

I got a call from them saying they had no documentation of my ACS donation, which I'm 100% certain I provided them (otherwise they wouldn't have made me a member, right?), and could I resend it to them. I still have the confirmatory email from ACS indicating the contribution was made, but what about those who don't? Will Keesler argue their membership is therefore null and void (and so is the CD), and use that to justify no interest being credited at maturity, - only a return of the original deposit?
789654   |     |   Comment #422
I had the same thought/fear when they contacted me about not having my membership paperwork. I faxed that to them, then they confirmed they received it. Then they contacted me once again saying that do not have copies of Drivers License, so I found the original email for that and forwarded it to them just to prove it had already been sent when they opened the account. I just now noticed they left me a voicemail today, they said this is "xx" from "Keesler" please give us a call. I guess I will call back tomorrow and see what is going on now?
gregk   |     |   Comment #421
Their reps strike me as likely right out of high school, earnest and polite, but largely clueless about policies and procedures, and offering inconsistent or sometimes outright contradictory answers to inquires.
RJM   |     |   Comment #424
After everybody saying they did not get their paperwork, I feared the worst when I emailed them the other night about the wire transfer form.

They said :

You have a wire agreement on file with us. We will code the CD to post to your savings at maturity. You can send your wiring instructions on 3/18/19 to [email protected] Please let us know if we can assist you further.

I knew I sent stuff, I knew I had something notarized but I did not know it was a wire agreement.

Interesting too that I sent them that message by secure email but they said I could forward it by regular email. I will probably do it both ways.
RJM   |     |   Comment #425
Tried to link Keesler at both Ally and Fidelity. Both gave me the option of entering my username and password and both said the information did not match. (But it did)

Ally gave me the option to link by trial deposits and fidelity did not give me any option other than entering the same info over & over again which did not work.

I am hoping the wire transfer will work but I wanted to set the links up the ACH way just in case. I linked it at AA a few months ago without issue but they only pay interest to $50k.
Beth   |     |   Comment #426
Received a voicemail from Keesler yesterday morning. I had a difficult time contacting my CSR (kayla) but finally found out that the American Cancer Society receipt was not good enough. I sent the original email that was approved my another CSR to Kayla and she finally replied back on regular email approving it.

I don't think you'll be able to assume anything with this credit union. I'll be following through diligently until my funds are transferred out in March.
gregk   |     |   Comment #427
Anyone believing there might be shenanigans going on here, - or is it just incompetence? I repeat my question as to why Keesler is raising all these issues about missing paperwork and such NOW, 6 months after the fact, and just on the brink of our CD's maturing?
RJM   |     |   Comment #431
It's a grand conspiracy. Since 1947 they have grown to $2.5 billion in assets by stealing every customers money.

The red flags were everywhere.

111   |     |   Comment #432
RJM - Be careful with Keesler's wire transfer form. When I got my application paperwork in the mail from them, my wire transfer form was pre-populated with a $50,000 maximum. After talking with them about this, I made a copy of that form, crossed out the 50,000, wrote in a higher number in, signed and dated it, had it notarized, and sent it back. Several days later I called, and they had updated their records with the higher maximum. (I posted about this on Sept. 13 last year, #379.)

FYI, so far they've not contacted me about any "problems" with my application or authentication materials.
111   |     |   Comment #433
RJM - I have a question. I'll take my funds out unless we get a better offer from Keesler, which is probably unlikely. I'll probably wire it out, but I'm looking at 1 or even 2 alternatives in case Keesler gets unreachable by phone due to high call volumes. I don't use Ally much for initiating ACH transfers, but their high daily limits are nice. So I called them today, and they said the way to get the speedier ACH transfer ("1 business day") is to transfer at least $200. No problem there, BUT then they say you have to wait 60 days before your account is coded for the speedier transfers! Obviously, that part is a problem.

I think you've dealt with Ally more than I. Do you by chance know of any way around this "60-day" limit thing? Maybe by making larger initial transfers than $200, or more transfers?

Otherwise my "Plan B" (Plan A is a wire) will be Alliant or maybe a couple of others, but they have lower daily limits than Ally.
RJM   |     |   Comment #434
I was told the same $200 60 day thing however,in practice, for me, they are giving me much quicker 1 day transfers.

That may be because I have been with them so long and have so many linked accounts?

I have sent $200 from ally and then immediately pulled the $200 right back out to prime the new account for one day transfers.

Give it a shot and you will find out fairly quickly after the $200 pull.

I did not do it with Keesler I guess because I knew about the free wire transfers?

My plan is to do the wire transfer. To Fidelity probably. Just because it was easy to find their wire transfer instructions online.

They also pay slightly more than Ally and I can write checks with both.

They told me to email them my instructions which I plan on doing the night before. I am probably going to do it both by regular email and secure message just in case. And then I can follow up by email later in the day if I don't see it hit fidelity.

As I said above, Ally and Fidelity both gave me the option to enter my keesler user name & password and then both said it did not match. So I had Ally do the 2 test deposits that should show up tomorrow unless I wrote down my keesler account number wrong.

I need to confirm Fidelity does not have a limit, I don't think they do. Not a small one anyway. I will follow up.
RJM   |     |   Comment #435
Fidelity's website said a $10 fee for doing it myself or $15 with a rep but a rep said its free., the website was old info.Because I am an active trader customer. But i think its free for everyone now that they came out with no fees for almost everything campaign.
larry   |     |   Comment #436
RJM try logging into your external account first before verifying on the website you are trying to link your external account to. I use to have the same problems you did with verifying external accounts. Is this just a fluke? Hard telling, but it has worked for me the last 4 times using a separate tab in the same browser window.
RJM   |     |   Comment #437
I can't be positive but I am pretty sure I was logged into the external accounts when I tried that.

I always have at least a half dozen windows open.

Anyway, I verified the trial deposits at ally just now. And am pushing $200 to Keesler now so I can pull it tomorrow or since it will be a 3 day transfer, maybe monday?

Online Savings Account ****** (Available Balance: $xxx.xx)
Keesler Federal Credit Union **** Keesler savings
One-time transfer
Deliver On:
Thursday, Feb 28, 2019
We'll withdraw funds immediately
Transfer Speed:
1 business day

This is probably overkill because I expect to wire the money to Fidelity when the CD matures unless Keesler comes up with a better deal which seems unlikely.
CU Follies
CU Follies   |     |   Comment #438
A Keesler supervisory rep told me yesterday that if you joined the CU by making an American Cancer Society donation and they don't have your documentation of such on file (no matter whether it's their mistake or yours) your funds from the matured 7 month CD will not be released at maturity until you provide said documentation to them.

Is this legal?
Robbing Hood
Robbing Hood   |     |   Comment #439
what a deal!
RJM   |     |   Comment #440
That's bothersome. When I joined the rep told me to send an extra $10 and they would take care of it. Others were told other things. I did what they told me and my share account has $15.01 in it rather than $5.00.

If my wire out is stopped because of their mistake, I will not be happy about it and will seek any lost interest as a result.

Can i ask why you were talking to the supervisor?

I got a call telling me of the 19 month but not one saying they needed any paperwork. I emailed them seeking an ACH transfer form and they said they already had it. It must have been on the initial paperwork I sent in because I don't even recall it.

They told me to email them my wire instructions on 3/18 and they will do the wire.

I am going to email the night before and then follow up to make sure unless its in my fidelity account by 11am.

I was one of those who wondered what would happen if I did not send any of the crap in. But I went ahead & sent it because I did not want my funds transfer to be held up.

I have no idea if its legal or not but an ounce of prevention...
789654   |     |   Comment #441
They called me several times in the last week:
1st call I had to resend all my paperwork
2nd call I had to resend Driver's License
3rd call I had to resend the Cancer Donation receipt
One of the people I spoke with told me that they were overwhelmed when they opened all these new accounts and must have misplaced some of the documents.
gregk   |     |   Comment #442
Why do they only get around to all these document requests 6 months later, however - on the brink of our CD's maturing? Why wasn't this done months ago?
gregk   |     |   Comment #443
Here's my own guess, - THEY GOT AUDITED, - and the auditors discovered their account membership documentation was a chaos, with demands to correct it.
Now they're using the maturing certificates as a spur to induce members help them get out of this jam. I must say, however, if they withhold funds from Certificate owners with incomplete document files, that will be a world of legal hurt they're inviting upon themselves. It was Keesler's responsibility to validate and record depositor's membership qualifications before allowing Certificates to be established. If they didn't do so initially and are now scrambling to rectify that by threatening Certificate holders with a sequester until files are updated one can imagine the outcry by any affected depositors. Would Keesler dare?
987654   |     |   Comment #444
Yes, it does smell like an audit!
To you point, they have had 6 months but wait till the last minute and make it an emergency for us.
987654   |     |   Comment #445
oops, I meant to write: To 'your' point
gregk   |     |   Comment #446
BTW, about the wire agreement form some here have provided Keesler, did they require that be notarized?

Also, I see referenced in the Wire Agreement form something called the "Member Wire Transfer Request Form" - I assume to make specific wire requests out of Keesler when the time comes. Anyone seen or been able to access this?
48756   |     |   Comment #447
Anyone's Keesler 7 month Certificate mature yet?

Is interest posting and funds withdrawal going smoothly and as planned?
Ben Kiggle
Ben Kiggle   |     |   Comment #448
Not a dime yet! WAITING!!
on-deck circle
on-deck circle   |     |   Comment #449
Thanks for the update - please let us know how it turns out. Are you waiting on a wire out, or on your funds to be deposited to your Keesler liquid Share Account?

FYI - earlier I asked the question of Keesler - regarding the CD end date, are the funds available to us ON that date, or the day AFTER that date? I was told, ON that date (which is the norm, although I've heard that a few financial institutions that do it the day AFTER.
gregk   |     |   Comment #450
I had one rep tell me the funds will be transferred to the share (savings) account shortly after midnight on the maturity date, - and even suggested the interest credit might be posted by 9PM the evening before.
willy12   |     |   Comment #453
I just got a callback from a nice rep. She said wires go out at 1pm central and assured me mine will go out today.

The only possible issue was 2 different password/codewords. She could not confirm or deny that I gave them to her correctly but went over the full information to make sure it was me. I don't recall a special password for the wire instructions.

But, I don't think it matters at this point. She said it will take 2-24 hours to show up in my account and they are not responsible if I gave the wrong information. She wanted me to repeat it back to her but I told her I copy & pasted it so it was unlikely to be incorrect.

I had considered opening a small 19 month for 3% but decided against it just for simplicity's sake.

19 months from now, they may have a deal only for those who had both prior deals in which case I might not qualify. I guess.

Im hoping for an above market deal...better than 3% for 19 months but I understand it may take a month or two of sitting at 2.28-2.50% first. (I don't have a purepoint account and am not opening one for what might be a week or two)

Im having it wired to my broker and then will send a check to Northern.
willy12   |     |   Comment #460
I wanted to clarify that my callback was a result of both my email and secure email left at their site that I sent last night. I had hoped it would be automatic from that but they required additional verification.
Had It happened an hour or two later I might have lost a days interest because of their 1pm deadline. I did not want to lose much interest and 2.28% is more than the .40% or whatever Keeslers share account pays.
on-deck circle
on-deck circle   |     |   Comment #454
In may case at least, there was a separate password that seems to be only for wire transfers. It is located on the Keesler Wire Transfer Agreement.
willy12   |     |   Comment #455
I don't recall that part and I did not keep a copy of my wire agreement. My understanding is the purpose of such passwords is to avoid the other IS questions they typically ask. So I either got one of them wrong or they do overly excessive confirmation anyway. Not a huge deal because the young lady was just terrific. I think my prior rep was also seven months ago.

So far, the money is not in my external account. Hopefully soon.
willy12   |     |   Comment #451
My interest posted yesterday. Its close to correct I think.

As for the wire, I sent instructions last night by both email and secure email. I just woke up and they needed my password or code word. While I would hate to lose interest, I am going to keep in mind they paid a well above rate for 7 months.
willy12   |     |   Comment #456
BOOM, the wire showed up. With 54 minutes to spare to buy SPRXX.
willy12   |     |   Comment #457
I called & asked if I could still get the 19 month at 3% and they said I would have to do it by friday. She said wire it back but I assume shared branch would be fine.

I am considering opening a small one just in the case that they have another deal in 19 months, only available to those who did this one.

I presume I could open say a $10-25k one and then if they have a good deal in 19 months I could add more money at that time.

The reason I did not do both at once is because I feared it would just confuse the reps as they are different departments & so forth.
on-deck circle
on-deck circle   |     |   Comment #458
You mentioned possibly opening a smaller CD at the renewal rate (3.00%, 19 months). Did the Keesler rep. say anything about what minimum balance Keesler would require for that CD?
willy12   |     |   Comment #459
No, but I did not ask. The original deal was a $1k minimum. I was considering 10-50 times that amount but I guess you make a good point that a smaller CD would give the same future "option" if that is why we are buying it. I would probably still buy at least $10k if I'm going to bother.

I had hoped I could do one of the Hyperion deals but they both ended.

19 month 3% is only an ok deal to me, not exceptional and I like to stick with exceptional if possible.

I feel sure something exceptional will come down the pike. Might have to wait a month or two. By exceptional I guess I mean .25-.50% over what is generally available. The only advantage a 19 month at 3% has is it does not require opening a new account.
Noteworthy CD Rates at Keesler Federal Credit Union in Mississippi

The largest credit union in Mississippi Keesler Federal Credit Union is offering very competitive CD rates for terms from 2 years to 5 years. Its Jumbo share certificates have the highest rates. These include a 2.30% APY for a 5-year term, a 2.00% APY for a 4-year term and a 1.50% APY for a 2-year term. Minimum deposit is $100,000. Rates are 10 basis points lower for a $1,000 minimum deposit. There's also a bump-up 3-year CD with a 1.65% APY for a $100,000 minimum and a 1.55% APY for...

Continue Reading
Competitive CD Rates at Keesler Federal Credit Union in Mississippi

As I was reviewing today's rate changes, I came across Keesler Federal Credit Union which had increased some of its CD rates. I was surprised I had not noticed this credit union before since it's the largest credit union in Mississippi. Its new CD rates got my attention since they're very competitive. Its Jumbo share certificates have the highest rates. These include a 2.00% APY for a 5-year term, a 1.65% APY for a 4-year term and a 1.40% APY for a 3-year term. Minimum deposit is $100,000. Rates are...

Continue Reading

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.