Penfed

[Snook_on_the_Line]

So I was thinking about opening a high yield savings, checking, and cd / money market accounts with a major credit union and parking a few thousand bucks there and letting the interest and my relationship with the cu build up for while while I wait for my my last derogatory to fall off my reports.  

I did a quick google search and noticed Penfed only seems to have branches in the dc area.     Do they accept people from the rest of the country?

[FicoMike0]

Yes they do. They pay 3% on their high yield.

Dcu pays 6% on the first $1000.

[Horseshoez]

Yes, PenFed is a national credit union.

I have a few thousand there, but the bulk of my savings (down payment money for a new house) is split between a CapitalOne savings account  which pays 4.35% and a TD Bank savings account which pays 4.00%

[keekers]

There are branches outside of DC. There's one down the road from me and I'm in Texas.

[AndySoCal]

@Snook_on_the_Line  The link below is to depositaccounts.com which will help find credit unions or banks in your  area.

https://www.depositaccounts.com/ 

[FicoMike0]

@Horseshoez  I use cap1 too. One of my fidelity accounts pays 5%, I think it's bloom.  I keep funds in both, in case of an ACH problem. Fidelity uses plaid to link accounts and it's failed at least once. Sometimes when churning deposit accounts I need to Smurf some money on short notice.

"Fidelity go" managed fund is doing great, but there's no guarantee. I put the $100 bribe they paid me to open bloom in it in September, it's up to $110, today.

[Horseshoez]

---

@FicoMike0 wrote:

@Horseshoez  I use cap1 too. One of my fidelity accounts pays 5%, I think it's bloom.  I keep funds in both, in case of an ACH problem. Fidelity uses plaid to link accounts and it's failed at least once. Sometimes when churning deposit accounts I need to Smurf some money on short notice.

"Fidelity go" managed fund is doing great, but there's no guarantee. I put the $100 bribe they paid me to open bloom in it in September, it's up to $110, today.

---

Today I noticed CapOne lowered their interest rate to 4.25%.  I'm not going to make any moves until I close on my new home (assuming we find something we like), and then I'll worry about moving money around for the longer term. 

[FicoMike0]

Last I looked CapOne was paying 4.3. gotta watch them. I keep $1000 in dcu for the 6%, not really worth the trouble. I joined them when looking for a ssl. Turns out they don't maintain the loan term when prepaying. Not of much interest with a mortgage.

[SouthJamaica]

---

@Snook_on_the_Line wrote:

So I was thinking about opening a high yield savings, checking, and cd / money market accounts with a major credit union and parking a few thousand bucks there and letting the interest and my relationship with the cu build up for while while I wait for my my last derogatory to fall off my reports.  

I did a quick google search and noticed Penfed only seems to have branches in the dc area.     Do they accept people from the rest of the country?

---

Yes they do.

[Snook_on_the_Line]

---

@keekers wrote:
There are branches outside of DC. There's one down the road from me and I'm in Texas.

---

I just looked on the Penfed website and it seems there is a brick and mortar branch in Florida 

it's In fort Walden beach by Elgin Air Force base.   Literally as far as you can get from my house and still be in Florida.   Google maps says it's a nine hour drive