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@plantains: there is one in Chicago that allows anyone across the country to do it. I think the rate is 4%, but you have to do 10 transactions a month.
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@Mrs. Jacks: For 4% I am willing to do it!
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@plantains: I'll see what I can find out. I went to the national association of credit unions website and then went through all the ones I was eligible for. We have 2 at 6% and 1 at 4%. We just have to keep track of the requirements for each every month.
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@Mrs. Jacks: I love you even more than I already did!!!
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before we refinanced, i would round our payment up to the next hundred, and half of my bonus would go towards the principle. With our refinancing, coupled with the cost of daycare, I haven't paid extra since April.
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@plantains: Here's the list of all the CU's in NY. Have you already looked through this?
http://thecommunitybanker.com/cu_links/usa_new_york.htm
And here is the list of percentage rates for 2013. They dropped since we opened our accounts... but Consumers is the one I'm thinking of in Illinois and they are still about 3% and accept anyone. Hopefully they'll go up again in 2014.
http://www.bankrate.com/finance/checking/high-yield-credit-unions.aspx -
@Mrs. Jacks: I've never seen that list! I've been looking on the NAFCU website which isn't very helpful, so thanks!
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@plantains: See above for more information
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@Mrs. Jacks: fabulous, thank you so very much.
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Don't forget about taxes on your interest earned. It's not as simple as earning 4% interest vs paying 3% mortgage. Though it is further complicated by the mortgage interest deduction....
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