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60 Month Jumbo's 4.33% APY 100K +

decades
  |     |   124 posts since 2010

https://www.gtefinancial.org/products/share-certificates

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6
racecar
  |     |   593 posts since 2014
Thanks decades. That rate is only for $100k+ as you mention, but it's still decent for today (MACU is 4.25% for only $500, or $5 if it's a Growth, but MACU's 5yr EWP=365 vs GTE's 180 if it hasn't changed). Sadly I don't think that rate will be around come Sept when I'll need a 5yr, but thanks for the reminder to at least check out GTE; other than their 5yr Jumbo their rates have been pretty low lately.

For those who don't have GTE already: GTE likes fees and gotchas; you can work around them but make sure to know about them (min $500 in at least one acct at all times or fee, a non-activity fee with a very short window, even a fee if you use your local shared branch to do GTE business, etc).
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10
P_D_1
  |     |   450 posts since 2025
"a non-activity fee with a very short window"

6 months

I agree they are devious. Hard pull to join too which I think should be illegal.
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8
deplorable_1
  |     |   2,206 posts since 2020
Yep dealing with that now need to keep $500 in the savings temporarily. They also have a $2 fee for ACH transfers so make sure to always use external FI. I'm now having issues opening a CD at all using cc/debit card funding since they lowered the limit to $505. They claim to not have changed their 3rd party processing agent. This will be my third call to try and resolve this issue. First they blamed me for not entering correct information. Then I did it with them on the phone manually still fail(because i entered the correct info the first time). Then they blamed the other bank so I called them and the issue is not on their end either. Anyone else having this issue opening a new CD with credit/debit card funding? Also it's even harder trying to get to a live rep navigating through their new AI phone tree and longer hold times.
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4
QED
  |     |   393 posts since 2013
I read your post twice in an effort to understand. Obviously nobody with sense would open a $500 CD with a CC for profit, though admittedly that was a viable and somewhat profitable option in bygone days with the old higher maximum. (sigh).

But if I'm reading you correctly, you are opening that CD not so much for profit but, instead, in an effort to satisfy the following fee schedule rules clause:

"or a $500 minimum balance is maintained in combined deposit and loan balances"

If that's it, you're making sense to me. It's a good way to keep a membership active.
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2
deplorable_1
  |     |   2,206 posts since 2020
Yes QED that's correct. although there is a very small profit it's just to keep the account active.
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2
mariafalter
  |     |   167 posts since 2010
I was told by a representative that for some reason $505 charge doesn’t go through, was advised to fund the new cd with $500. It worked.
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7
deplorable_1
  |     |   2,206 posts since 2020
Thank you Maria, I bet that's it. Unbelievable it could be that simple.
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2
deplorable_1
  |     |   2,206 posts since 2020
@mariafalter: Yes that was the problem at GTE with credit card funding you can only do $500 even. So all is good except the cap is way too low. At least that frees up $500 in the savings. Thank you.
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4
John19
  |     |   394 posts since 2022
Nice deal. I sold all my 5% brokered CDs this year for a nice profit and bought longer term treasuries. Wish I had some dry powder for this deal. My 4.8% GTE Jumbo $100k has about two years eight months left. I hope I don't have to take penalties to change rates.
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2
P_D_1
  |     |   450 posts since 2025
Five years is a long time. The economy is always subject to potential volatility especially in times of transition which is where we are now. To those of us who remember CD rates in the teens it gives pause even at this seemingly fairly decent market rate.
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5
happyharold4
  |     |   371 posts since 2022
I guess that is what laddering is about---I tossed my crystal ball long ago
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7

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