With a lot of PenFed's old, decent CDs having matured already, or maturing soon, I was wondering what people's thoughts were -- if there's any reason to still stay a member of PenFed after all the legacy CDs mature.
I just had the last of my PenFed legacy CDs mature.
Normally I would stay a member of a CU, in case there are other good deals in the future. But a few years ago PenFed made their Early Withdrawal Penalty one of the worst out there. I can never see myself ever having a CD with them again, with the severe EWP.
Though while I'm sure some DA readers are interested in money market accts, credit cards, or other products, I'll assume the majority of DA readers are interested in CDs. So I was just curious how many DA readers would plan to still stay with a CU if they know they'll never get another CD from them again.
There are other CUs where I only have the $5 in savings, and still stay with them just in case there are future deals that might pop up (making sure to ACH a few cents every now and then so the account isn't considered dormant) -- and that's my default view (stick with a CU in case there are good deals in the future).
But these two CUs make that decision harder:
(1) PenFed (because with their absolutely terrible EWP, I see myself never having another CD with them).
(2) GTE Federal (after the 3% CD matures in a few years) because of the requirement to keep at least $500 still with them to avoid huge fees.