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Melrose credit union!

April 1st, 2012 at 02:35 pm

I opened up a 5 year CD at Melrose credit union, a year ago. I was hoping it was not a mistake to tie up a lot of money for that long.
Apparently, so far, I made the right decision.
I am getting 2.9% interest when everyone else is paying no more than 1%. I just earned over $1800 in interest for the past quarter. (3 months)

Posted in saving | 3 Comments »

3 Responses to “Melrose credit union!”

  1. snafu Says:
    April 1st, 2012 at 04:10 pm 1333296610
    1333296610

    According the Chair of Federal Reserve, these super low interest rates are expected to continue for at least two years. Should rates change, most CDs are cashable with small penalty.

    It can be an interesting exercise to compare [on-line] your rate of return, against what you might have earned in a low cost Index ETF like that offered by Vanguard for the each quarter 2012. There are also different tax implications to muddle ROI

  2. rob62521 Says:
    April 1st, 2012 at 07:14 pm 1333307644
    1333307644

    It is very frustrating when those of us who have some savings are getting next to nothing in interest!

  3. SicilyYoder Says:
    April 1st, 2012 at 11:46 pm 1333323980
    1333323980

    I wonder if the rates will ever go back to 5%.

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