Buying Credit Union Brokered Cds

Numpty | Mar 28, 2023 | 1 posts since 2023

I want to buy several Credit Unions CDs but I want to get them through my Broker. My problems are:

I don't know which Credit Unions offer Brokered CDs

I don't know which Brokers deal in them

I can't determine if my Broker (TD Ameritrade) deals in a particular CD till I search using the CUSIP (and I don't know the CUSIP)

I would open a new brokerage account IF I could find a broker that deals in Credit Union CDs.

Any suggestions?

\With thanks

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Answers

NFO | Mar 28, 2023 | 66 posts since 2022

I have accounts with Schwab and Vanguard. I've never seen one.

Why are you focused on brokered CDs from credit unions? What's wrong with banks?

RichardW | Mar 28, 2023 | 810 posts since 2019

“Credit unions do not offer brokered CDs.” A quote (see the second paragraph) from the following older DepositAccounts.com article written by Charles Rechlin:
https://www.depositaccounts.com/blog/notes-personal-ira-cd-investing-longtime-reader-2.html

ocsteve | Mar 28, 2023 | 96 posts since 2010

Credit Unions by their nature are a membership oriented group. Their membership requirements vary from where you live, work or worship, to open charters that take people from several counties or states. This membership requirement would not really work for CUs offering Brokered CDs on a brokerage website. I think that is why I also have not found CU brokerage CDs on for example the Fidelity website.

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