[NC, SC, VA, GA, TN] Truliant FCU 6.25% CD

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• 4.75% now

• it's 5.00% now.

• It dropped to 5.7% now. Glad that I applied in time.

• Early withdrawl penality for the 11 month special CD is 180 days. 90 days penality is for 6m and less tenure CDs.

• PSA: The account opening page uses Plaid instant external account verification. But the account portal after opening only uses trial deposit verification which takes a few days. Set up your external account now, so you can move your money out quickly after maturity.

• Email me if you want a referral code (gives you an extra $25 for opening a checking account). Might help approval odds as well. Caleb1ref at gmail.

• Following up on my previous comments .. After initially being denied membership because of information that came from Chex, I called Truliant customer service and explained that my Chex was frozen and I'd be happy to unfreeze to have my application reconsidered. She said that they obviously found that I had bad credit from Chex (which is weird, as they are not a credit reporting agency) and that I needed to call Chex. No, I really have no need to call Chex as they have nothing to do with my app being denied.

  So I temporarily thawed Chex and applied again. This time it was approved and my first share cert was opened. Pros: Their website looks pretty functional, and I was able to link with Quicken (although that process was weird .. needed a different password). I then attempted to open up two more share certs and it made me enter almost all of my info again. And now those are waiting on "approval." Gee whiz .. tedious.

  • "...explained that my Chex was frozen" ... "She said that they obviously found that I had bad credit from Chex"

    It doesn't sound like Truliant could have found out anything from Chex, if it was frozen. You should have called her on that. 😉 Glad you found a way in, @guest_1698733.

    • Precisely. A common shortcoming in customer service is to state an explanation that sounds plausible while completely ignoring the facts on that table. That my Chex was frozen meant the problem was no data, not unfavorable data. And that they approved the second application confirms that further.

• I wasn't able to open because, unfortunately, Truliant uses Plaid to fund the account and my bank, CFG, is not supported by Plaid.

  • There are two CFG options when you search for it in Plaid, you need to select the bottom one

  • Did you not try the microdeposits method?

  • Weird I’ve linked CFG via plaid although not to this account

• Any credit card funding?

  • I went through part of the app process but didn't complete it, but I recall that there was an option to fund up to $2500 from credit/debit card. It wasn't clear to me how to select multiple funding sources, though, but I didn't spend much time on it.

    • Yeah I don't think the CC funding will work given the $5,000 minimum for this CD

      • Agreed. Now that I have my three large share certs opened, I was going to open another one for $2500 purely to get the $50+ cash back as a bonus. But on the funding dialog, you can't choose more than one funding method, and minimum cert is $5000. So no way.

• Applied today. Application process was simple. Was able to connect my account through Plaid for funding CDs. Went into review after final submission (savings + 2 CD accounts)

  • Out of curiosity, why'd you split it into two CD's? Is there a limit on the funding amount per CD?

    • If you are putting a large amount into the CD, it is smart to split it up. For example, $100,000 might be $50,000, $35,000, and $15,000. That way, if financial circumstances were such that you need to do an early withdrawal of a certain amount, you might only have to break one CD. If the terms of the EWP were such that you were penalized only the amount of a partial withdrawal, I guess this isn't necessary, but that is far from the norm.

      • Makes sense. Thanks