Re CDs ... got a Q for you, Allan...and an update re FDIC insurance...
...on CDs bought via credit unions, albeit it anecdotal, meaning applies to mine. I asked them face to face on Friday about the following.
First, I report that the credit union I use here in Austin for banking offered Friday 12-24 month CDs @ 6.08%.
The CDs offered there are FDIC insured.
Now my question to you, Allan, as perhaps an ad hoc representative of the CFZ board <g> ... I'd ask it there, but the leader maintains his 'ban' on my ability to post there.
(Evidently, he has rather rigid beliefs that people are incapable of change ... once on his 'shit list,' one remains there forever ... LOL. Seems to be a very odd person to me, but that's beside the point <g>).
Here's my Q if you or anyone else would 'carry it over' to the CGZ, might provide interesting discussion(?)
What has to happen for the FDIC insurance on CDs < or = to $100K to fail?
Meaning, can -- and if so, how -- investors in U.S. government-insured CDs lose their money?
In other words, are FDIC-insured CDs 100% risk-free?
TIA,
bia |
