I have opened four 5 year jumbos at 5.4% the past 4 months. I found it curious that after I opened them and looked at the details of each CD online, the maturity date was set for 5 years - 2 days from the date I opened and funded the account. Why would they short me for 2 days on a 5 year CD I asked myself. Not a big deal, but just thought it odd.
Being anal, I looked into it today, since my spreadsheet that auto tracks my interest on all my CDs was always off a little bit. What I found is that they actually gave me credit for two days extra interest on each CD for the first month. Meaning they actually give you credit for opening the CD two days before I actually opened and funded it.
An example, I opened one CD on the 30th of November (a Thursday and the last day of that month). I got two days interest recorded for that CD on the next day. So I have reset all my start dates back 2 days on all the AFCU CDs and the math now all works out.
Also the checks that I deposited at a COOP branch usually took 3-4 days to clear my hub checking account.
Nothing big, just found it interesting and thought I would share with my friends here at DA in case anyone also observed that oddity.
Steve
