Picking up Nickels

Tuesday, September 26, 2006

Time to lock in 6% CD rates Part II

As I watched Treasury Bill rates continue to drop yesterday, I decided to lock up some more cash in a Penfed 6.00% APY 4 year CD. According to the Bank Deals blog, the Penfed 6% APY 3,4, and 5 year CD's will only be available through September 27, 2006, so the time to take advantage of this deal is now!

This gives me another rung in a 6% APY CD ladder I've been building with the World Savings 6.01% APY 15-month CD and Penfed 6.00% APY 3 year CD that I have opened up in the past month.

I would also like to stash an equal amount in a 2 year CD, but have not been able to find an attractive deal. Patelco Credit Union is offering a Flexible-Term 6% APY CD for 12 to 23 months, but I am not comfortable with the fact that this account would have private, and not government NCUA insurance. Patelco was originally a credit union for employees of the Pacific Telephone and Telegraph Company, so it does have a proven track record. I am still on the fence about them though, and will continue to look for other options for a 2 year CD.


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