Sharonview

Capper | Jul 13, 2023 | 50 posts since 2018

Just got a VM from them about the 64 month CD that is maturing this month. Said they wanted to go over options. Has anyone else gotten a call and said what they are offering?

Post an answer

Answers

RickZ | Jul 13, 2023 | 218 posts since 2010

I just pulled a good amount of funds from them today as well as last Friday. I imagine it's a deluge of money leaving. They offered me a 10-month CD at 5% APY. I said thanks but no thanks.

ColetteD | Jul 13, 2023 | 9 posts since 2023

Yeah, they called me and offered the same 3 options that a few others had already posted on here. Unfortunately, the rates just weren’t competitive enough to warrant keeping my money there. So I moved a 6 figure amount of there this week.
I can only guess that most of us 64-monthers pulled our funds and moved them elsewhere.

Kaight | Jul 14, 2023 | 1,192 posts since 2011

I suspect a significant chunk of money, including my own, has recently moved, or soon will move, south from Sharonview on down to Tampa. I wish there were more "no brainer" deals like that GTE four year jumbo, and I wonder how much longer it will survive.

111 | Jul 15, 2023 | 672 posts since 2019

You may be right. But if I recall GTE's 3% 5-year add-on CD offer from 2019 lasted quite a while, so ...

interested | Jul 14, 2023 | 79 posts since 2019

I withdrew my Sharonview CD balance at maturity recently and moved to a 5+% savings account at another bank. Sharonview didn't have any good options for me.

Robb | Jul 14, 2023 | 322 posts since 2018

After offering them the opportunity to rate match what some of my other CU’s are offering and being turned down I exited on Monday with most of those funds already moved into a 5.5% CD thanks to a wire transfer. The rest moved into 5% savings for future opportunities.

111 | Jul 13, 2023 | 672 posts since 2019

Unsurprisingly, Sharonview's 3 options (4 if one includes their 4% money market fund) seem sadly inadequate. So I'm moving funds to GTE 4-year 5.12% APY jumbo CDs. I've also moved other funds to short-term Treasuries, for short-term, long-term balance.

Sure, there are those who mystically see 6% long-term (excluding low-balance gimmicks) and even 7% CDs on the horizon. And have for years. These days I consider that as about as remote a possibility as - on the other side of things - a severe recession. I've kept some cash liquid for either a stock market crash (e.g. buy stocks), or a further rise in rates (e.g. buy fixed income). Just in case.

But honestly, how long can one keep thinking that if the Fed has "pushed one end of a string" for 2 years, and the other end of that string has moved some but not a great deal - that, miraculously, that other end is suddenly going to move a lot more given a little additional Fed pushing? Hmmm.

favden | Jul 15, 2023 | 8 posts since 2023

I'm not sure if I should post a new question, but I don't see a way to move funds from my regular share cert that just matured to the regular share account so I can ACH pull using another bank. When I tried to link the account to the other bank, it only shows the regular share account and not the CD. Any ideas?

ColetteD | Jul 15, 2023 | 9 posts since 2023

I can only speak to my experience. I had to call in to have them manually move funds out of my CDs upon maturity, into my Regular Share account. I was told that’s the only way of closing out the CD. Since my CDs matured on a weekend, I had to wait until Monday to access those funds.

favden | Jul 15, 2023 | 8 posts since 2023

Thank you. Mine matured today. I'll give them a call on Monday.

LongTimeDAFan | Jul 18, 2023 | 69 posts since 2022

Link your share account, not your certificate. Most CUs have certain accounts they will link (share or checking), but certificates are usually not one of them.

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.