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Now, don't get me wrong, I like my credit union, overall they are quite good, good rates, good terms, and friendly employees... but there is one thing that they just started that seems a bit shady.
They've recently put on their website that now you can open a CD with only a $500 deposit... no longer do you need $1000 to open a long term CD, $500 will do. Then there is a note at the very bottom of the page *minimum balance to earn interest is $1000
yup, you can now move $500 into an account that you can't touch and will earn you no interest... what a deal.
Needless to say, I opened my newest CD with $1500.
Though they do really make up for it with their new Mountain Climber CD, which has the same rules as a normal CD except you are allowed to add addition deposits throughout the term... I like that idea... I wish I had known about it before I opened my most recent one... oh well... only another 6-10 months before I'm ready to open a new one.
They've recently put on their website that now you can open a CD with only a $500 deposit... no longer do you need $1000 to open a long term CD, $500 will do. Then there is a note at the very bottom of the page *minimum balance to earn interest is $1000
yup, you can now move $500 into an account that you can't touch and will earn you no interest... what a deal.
Needless to say, I opened my newest CD with $1500.
Though they do really make up for it with their new Mountain Climber CD, which has the same rules as a normal CD except you are allowed to add addition deposits throughout the term... I like that idea... I wish I had known about it before I opened my most recent one... oh well... only another 6-10 months before I'm ready to open a new one.