EWP Connexus On 1 Year CD

aaflygirl | Nov 18, 2022 | 87 posts since 2016

Does anyone know if CX will take part of the principal amount to cover the EWP or limit EWP to dividends earned? Thank you!

Post an answer

Answers

racecar | Nov 19, 2022 | 616 posts since 2014

Yes, unfortunately Connexus' EWP WILL invade the principal to cover the EWP if interest alone doesn't cover it. So if you have a CD with Connexus that has a 180 day penalty but have only had it opened for 100 days, the other 80 day's penalty will come from principal.

aaflygirl | Nov 19, 2022 | 87 posts since 2016

Thank you, racecar.

gkwpnut | Dec 6, 2022 | 13 posts since 2022

Just called and they said no problem canceling with no penalty if reinvested in another CD. Pretty impressive customer service!

SouthernGirl | Dec 3, 2022 | 210 posts since 2022

As posted by kaimen on 12/3/22 on Promotions, Deals, and Rate Changes, Connexus CU now allows lower-rate CD holders to flip to higher CD's without EWP.

aaflygirl | Dec 3, 2022 | 87 posts since 2016

SouthernGirl, do you know when that policy started? They messaged me 2 days ago and said I would have to pay 90 days EWP, going into my prinicipal, to close my CD that has 9 more months on it and open the 15 month special CD. Was that a courtesy to kaimen, was I given wrong info or did their policy change yesterday?

SouthernGirl | Dec 6, 2022 | 210 posts since 2022

aaflygirl,
Hey. Just called Connexus and it was effective 12/01/22. It is a policy change for everyone. Please try again.

aaflygirl | Dec 6, 2022 | 87 posts since 2016

Thank you, SouthernGirl! That is great news. I'll call them tomorrow.

Coreyfr | Dec 6, 2022 | 19 posts since 2020

Any thoughts on the better option. 12 or 15 month?
12 month 4.51% with a 90 day exp or the 15 month 4.85% with a day 180 penalty. Wondering where rates will be at 12 vs 15 months.

SouthernGirl | Dec 6, 2022 | 210 posts since 2022

Coreyfr,
Do you have the Navy FCU 24 month add-on CD that pays 3.90%? Do you have the Mountain American CU 24 month add-on CD that pays 4.50%? Do you have the Mountain American CU 60 month add-on CD that pays 4.00%?

Coreyfr | Dec 6, 2022 | 19 posts since 2020

I have the Navy 24 month

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.