PenFed drops its 5-year CD down to 2%

We all knew this was coming. The Pentagon Federal Credit Union was offering a 5-year insured CD at 3% in the months of December and January, but now has pushed that rate down to 2%, still a good rate but not above-market.

PenFed’s 7-year CD also was paying 3% but now has re-set to 2.25%.

It was a good deal while it lasted, and I am sure it brought PenFed a lot of new customers, which was probably its strategy. I was one of them, as I explained in a previous post. says the average 5-year CD is paying 1.5%, but there are some outliers, such as Barclays and EverBank at 2.12%.



This entry was posted in Investing in TIPS. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s