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Looks like Redstone dropped from 2.52% to 2.0%
@ChazzieT wrote:Looks like Redstone dropped from 2.52% to 2.0%
Yes, this seems to be common trend with most institutions. Still a decent rate but, a little disappointing considering it was 5.0% post pandemic.
Makes you wonder how St. Mary's, Service and DCU are keeping their yield up...🧙♂️🧞♂️🧚♀️🏋️♂️
@ChazzieT wrote:Makes you wonder how St. Mary's, Service and DCU are keeping their yield up...🧙♂️🧞♂️🧚♀️🏋️♂️
For DCU, my guess is that since the 6.17% savings rate only applies to the first $1,000 and then a mere 0.25% for anything higher, the smaller rate makes up for it. Plus their interest rates for loans is a tad higher than other CUs, which I'm sure more than makes up for the difference.
@KLEXH25 wrote:
...only applies to the first $1,000...
All the CU's listed do something similar (some limit to the first $500) and they weren't able to keep their rate up.
I was just kicked out of St. Mary's Bank for setting up accounts to make ACH transfers. Their risk department determined this was "High Risk" behavior (for identity theft) and closed my accounts, sending a check and a letter to at least one of my other FI's!
@credit_endurance wrote:
@ChazzieT wrote:Looks like Redstone dropped from 2.52% to 2.0%
Yes, this seems to be common trend with most institutions. Still a decent rate but, a little disappointing considering it was 5.0% post pandemic.
Just pulled my funds out of Redstone and will move them to another option. Rates are falling all around these days. Looking into a higher rate C.D. only drawback with that is funds are tied up longer.
@credit_endurance wrote:
Just pulled my funds out of Redstone and will move them to another option. Rates are falling all around these days. Looking into a higher rate C.D. only drawback with that is funds are tied up longer.
I'll stay in for now. I'm not willing to tie anything up in a CD and most everything not on this list has dropped to 1.35% or lower.
I just found this thread bc we're trying to figure out where to park some funds after a CD matured. Initially I was just gonna to stay with my current bank but then I found out the rates are 0.01%
I knew rates were down but that obviously terrible when there are several institutions 1-1.35%
I noticed CD are lower rates probably bc things are so uncertain.
Initially I was just gonna put it all in one of the online banks like Axos/UFB.
Then, I found this thread and I'm debating how many of these or other CU I want to try to open to get good rates and possible set up a relationship for a future CC.
@Ragdollkitty wrote:Then, I found this thread and I'm debating how many of these or other CU...
If you decide to join the credit unions, be sure to hit Blue first. They are extremely sensitive to chexsystems inquiries!