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    jammy23's Avatar
    jammy23 Posts: 545, Reputation: 0
    Senior Member
    		  
    #1

    Jun 17, 2011, 10:16 AM
    CD's/brokerage house vs bank
    I've had my CD's w/a brokerage firm... almost no interest. A few banks offer a little bit more. Two of my
    CD's are up soon and one was up and put into a money market a/c and they are charging me for that.
    They said I should put all three into one or two a/c's and they will TRY not to add charges for this.
    I'm not money savvy and I'm retired and will soon have to withdraw in a very few years... where can I get
    The best advice. I don't have a whole lot of money, even with 3 CD's... but I get bad vibes from this
    Wellknown firm. Also, many banks may go under in the next two years... that's another worry.
    Dr1757's Avatar
    Dr1757 Posts: 186, Reputation: 25
    Junior Member
    		  
    #2

    Jun 17, 2011, 10:27 AM

    Jammy,

    I have an account with a credit union with a couple c.d.'s there. While no place is paying interest worth a flip now days at least the credit union does not charge anything for the privilege of keeping my money. Look around and find a credit union that's been around for a long time and that will let you join.
    jammy23's Avatar
    jammy23 Posts: 545, Reputation: 0
    Senior Member
    		  
    #3

    Jun 17, 2011, 10:47 AM
    Comment on Dr1757's post
    Never thought of that. Thank you. Will check it out.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #4

    Jun 17, 2011, 08:00 PM

    Yes, for a CD investment firms that charge large fees are not a good deal nomally.

    My bank does not charge me any fees, my credit union does not charge me any fees
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