Posted on 12/29/2018 5:47:35 AM PST by Vigilanteman
Recently, I was elected treasurer of my local SAR chapter, the older male equivalent of the far better known Daughters of the American Revolution.
Thus, I was appalled to learn what a partly rate of interest our existing bank paid on a recently matured CD (0.06%!) and refused to renew it, asking them to deposit it into our checking account instead.
Accordingly, I am now actually shopping for another bank our credit union willing to offer a fine, patriotic organization such as our better rates and service.
My retirement money, for example, is with Charles Schwab, where I can earn 2.3% (annualized) on a CD which matures in the next 90 days up to 3% for those which mature in a little more than a year. But they are not really great at working with smaller organizations, as opposed to individuals.
I bank with PenFed Credit Union, which offers 2% on savings accounts and rates almost as good as Schwab on CDs, but they do not deal with organizations, only individuals.
Surely, our wealth of knowledge among freepers can steer me in the right direction.
My guess is that there are no friendlies- at best, not currently hostile.
In socialist countries, the money handlers are among the top of the food chain and as the US progresses it’s socialist tendencies the money folks will gravitate in that direction against patriots.
Incidentally, this is why a cashless society is just as powerless as a disarmed one and is why the power hungry will push for that.
A very pertinent point! I'll use 'cashless' for my own benefit but will FIGHT against it being made mandatory!
You may want to check out WEA or Western Asset Premier Bonds by Legg Mason. I have been with them for a long time and they have been paying a monthly dividend like clock work. But the principal can and will fluctuate, what may or may not be suitable for your purpose. Well just a thought..
USAA
USAA turned around and dropped advertising on Hannity - and only brought it back after it caused a huge firestorm.
Then they raised their rates on insurance and the like.
I was a long time member. Now, a member no more.
They're also banning members from postingon the USAA message boards who want USAA to drop sponsorship of the NFL.
Notice much of the USAA ads/commercials are about people "coming back" to USAA.
Their remaining members are trying to get the board unseated.
https://communities.usaa.com/t5/Military-Life/2018-Annual-USAA-Meeting-and-Proxy-Vote/td-p/139791
https://www.cnsnews.com/blog/craig-bannister/usaa-rejects-military-members-calls-pull-nfl-sponsorship
Ally bank. As far as I know they haven’t said anything against Trump and have decent cd rates. —They’re an online only bank so you’d have to get use to that.
I’m not a LDS member, but I’d bet Zions bank, from Utah would be a pretty good pick.
Discover bank another Utah entity.
This is a good topic, so any others would be interesting.
Free your money!
Good luck.
Utah is a bit out of the way from SC but I’d try Zions over Wells Fargo.
For some reason I keep a piddly WF account. Mostly I am in a few credit unions.
I miss the 80s SC National Bank and even to a point Wachovia or Wach Ova Ya Money as some called it.
After several acquisitions, my bank is now CapitolOne.
Their interest rates are decent, considering today’s rates. Their CDs are over 2%, depending on length of time and amount. They also have a Money Market that is currently paying 2% on balances of $10k or more. They will probably increase that soon due to the recent FED increase.
Once you set up an account, you can open additional CD and MM accounts online.
I also use CapitalOne for yield. However, you said the problem was getting an account for an organization, not an individual, and I don’t know their restrictions in that regard.
I went with a local bank when I moved to South Carolina in 2003. I’ve never had better service. The employees are very stable. The lady at the drive thru has been there 20 years.
And, best of all, the excess cash in my checking account stays right here in town by use for local people and local businesses.
Kelley Earnhardt Miller, Chairman & Incorporating Director
She is Dale Jr's Sister FWIW.
They are a Local Bank is about all I know.
Ally bank is apolitical and pays 2% on a savings account.
Bingo.
find which bank gets audited most by the IRS. that will tell you who the most conservative bank is.
upchuck, you mention what I consider the best advice. find a local bank in a small town. One that has weathered the years. Get to know the bank CEO and make friends with all the staff. My local bank CEO is a good friend and he watches out for me and my finances. We bought stock in the bank it has been our best financial move. I get perks for being a stock owner. Of course it’s been great since Trump.
Thank you. Local bank is the way to go.
Ally Bank is not good, avoid at all costs.
They canceled all of my accounts for no reason and sent me a letter, closed all of my several accounts after many years of putting a lot of money through their bank and being a model customer. They sent letters and closed all of my accounts, mailed me checks that took 2 weeks so I had no access to any money for 2 weeks. I called several times, they refused to give any reason, even managers, saying they didn’t have to tell me anything. Only thing I can guess is that I purchased ammo using my ATM online.
I hate to hear that. — Something you could do is go to deposit accounts and write a summary of what happened. Ally reps do read it and might respond.
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