Crunch Time At GTE

blazer9
  |     |   135 posts since 2019

removed misinformation posted



Answers
Kaight
  |     |   453 posts since 2011
Since the topic of GTE has been opened, I have a couple of observations and comments. GTE is important to many of us because we have generous add-on CDs there with decent time horizons. We want GTE to survive and prosper so we going forward can continue to add on to our accounts as other CDs mature.

I am seeing the current porkulous legislation as positive for those of us at GTE. I don't deny the porkulous is controversial, but it appears a sure thing at this point and obviously Biden will sign the legislation. It has the impact of spreading money around nearly everywhere. Sure, I realize it's all borrowed. But regardless, so much new money in the system will be sustaining for outfits like GTE which might otherwise be teetering on the edge of viability owing to the pandemic and to the current very low interest rates. For those of us with add-on accounts at GTE, this is a good thing. We do NOT want GTE to fail. We do NOT want the return of funds we currently have on deposit at GTE.

Sure, I'm well aware of the threat of inflation and all that . . all the negative stuff. But for us GTE members with add-ons the overarching consideration is simply having GTE remain above water so we can continue to cash in with those great add-on CD accounts. So I'm seeing the porkulous, generally speaking, as a positive event for us.

What the heck, if the Tampa region is good enough for Tom and Gisele, and given Tampa is the City of Champions in hockey, football, and baseball, I think we have a good chance of GTE making it!!

My fingers are crossed.  I'm rooting big time for GTE's survival.
111
  |     |   176 posts since 2019
Umm... Now you've got us curious...
blazer9
  |     |   135 posts since 2019
@ 111
Will re-post correct ? if need.
no changes at GTE
blazer9
  |     |   135 posts since 2019
Read some Banks and Credit Unions may not consider Joint owner addition to an account to increase insurance because they are not a member. NCUA insurance estimator validates that.
Thankfully PSECU and GTE do not apply that condition.
I have 3 CDs at GTE which I had thought would cover all additional funds to them.
Title of those accounts determines insurance coverage, and I spread myself on them to thin.
I'm working on that because all have been Me as primary owner and that reduces the total amount
of insurance i can apply in my name. Having a small family left puts a damper PODs and Joint owners. Thankfully I'll be able to dribble funds in at PSECU.
I got hemmed in with a Andrews 84 month $1000 CD for the same mistake.
Right now I'm being overwhelmed with maturities . 


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