This is just a quick note to wish you and your family a happy, healthy and prosperous New Year. I would like to thank all of you for your support.
I’m happy to report that PenFed has extended December’s CD rates into January. Apparently, PenFed’s board of directors voted to continue the December rates through January. So if you had to wait for a CD to mature in January, you should be able to take advantage of these top rates. Don’t forget that PenFed doesn’t guarantee that the CD rates will last for the whole month, but PenFed has a long history of not dropping rates before the end of the month.
Many readers have opened the PenFed CDs. In my last PenFed post, I included a poll asking readers how much they have put into PenFed CDs in December. For the 325 people who voted, 65% voted that they have invested at least $20K. That comes out to 211 people. Using the poll results, I did a quick estimate of the total deposits DA readers have invested in December PenFed CDs. My estimate is $80 million. Fortunately, PenFed is a large credit union with over $12 billion in deposits. So $80 million is less than 1% of PenFed’s total deposits.
For more information on these PenFed CDs, please refer to my posts, Four Important Points about PenFed’s CDs and IRA CDs and PenFed Comes Through With New Top CD Rates.