Looking For Add On Cds?

RWK | Dec 31, 2024 | 94 posts since 2024

I can't remember who shared the following site with me - but thank you.

If you're looking for add on cds you may want to take a look -

https://depositquest.substack.com

If you've had experience with Mountain Credit please share.

Happy New Year to everyone!

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Robb | Dec 31, 2024 | 324 posts since 2018

Happy New Year…if you’re referring to Mountain America CU I’ve been with them about 8 years and have had nothing but positive experiences with them. The only negative is that their Add-On CD’s are capped at 100k cumulatively.

racecar | Dec 31, 2024 | 628 posts since 2014

MACU: Good experience with MACU. Combined max of 100k for all add-ons, and each requires a monthly contribution to keep it as an Add-On (if funds aren't added each month it'll turn into a normal no-Add-On CD). You either have to remember to add the funds yourself, or they will happily set up automatic monthly transfer for you from your other bank/CU to your Add-On CD. You can select how much you want transferred each month (min is $10/mo, most people just opt for the minimum) and what day of the month you want the transfer to be done, they take care of everything. (Just make sure you have enough in whatever account you give them for the monthly transfers).

All-In: friendly and easy to work with, no cap, but they're one of the places that likes to run credit checks on everyone, even just for opening a new CD. If you're brand new to them I don't think you can avoid it but if you're already a member you can apparently ask a CSR and request them to bypass the step if you're alerady a member just opening up an additional CD. Their Add-Ons require $25 to start, you can add any amount for the length, very easy to do, with no limit.

NavyFed: (if you qualify for membership) their Add-On SmartStart CDs are easy to work with themselves, but note that many things at NavyFed are not easy to work with, from membership to things like maturity instructions. While their "Special" SmartStarts require direct deposit and have a $3k cap (not worth it!) their "normal" SmartStarts are fine, have no cap or direct deposit requirement and need only $50 to open. NavyFed's systems and policies can be a real hassle to deal with, but I've still found it worth it to put up with them if you're eligible for membership.

Other Add-Ons (Kinecta etc): Many of the other offerings are short-term (less than a year). On these short-term ones, compare it to the rate for a high-yield savings account. For 12-months or more I'd opt for an Add-On CD but for real short ones, you'll have to decide if it's worth it compared to a HYSA.

RWK | Jan 1, 2025 | 94 posts since 2024

Thanks for the feedback - I'm looking for 4 places to put money and this was definitely helpful!

Avocat | Jan 15, 2025 | 7 posts since 2010

Long phone discussion with Mountain America . In their divestment of New Mexico branches they are moving accounts to Sunward Credit Union. I cannot get an assurance that current Growth Certificates will be honored. Not a happy customer.

Avocat | Jan 18, 2025 | 7 posts since 2010

Definitely not happy with Mountain America transfers to Sunward and a different state than I believed accounts were located in. Most difficult is the total lack of account information from Sunward on continuing the Growth accounts. Basically MACU said just rejoin MACU, leaving out the loss of the higher yields in place from existing growth certificates.
Any other suggestions or information appreciated.

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