Gman476 said:How long has it maintained this rate? Is it suddenly going to drop to 3%?

They have been keeping this rate since Feb'08.

Gman476 said:How would you rate their online banking? Is ACH available to other institutions?

yes, they have ACH Push and Pull! (ie send, receive and take)

lhendricks92 said:Midwest, meet FatWallet - catalyst for big rate drops at Toledo, First Arkansas, Air Academy, etc., etc.

Buh-bye 7%.

Yep..either the "FW EFFECT" will kill this rate within a month, or else they will quickly kill off the SPCA membership loophole that will let everyone outside the area get in on this.....probably by Monday when they see they are getting swamped with out of area applications.....

I was tempted to apply..but realizing that likely one of these two scenarios will result, i decided not to waste my time......

PS: I understand why you gave me the red....but don't "shoot" the messengers (me and ihendricks92 ) we have been around on FW a long time, and we are very well familar with what the "fw effect" can cause.......I've seen it happen too many times here already......This CU is going to get hit with a "jillion" applications from here by Monday Morning......

klm123 said:2nd this CU deal has been discussed several other finance deal sites for last 6 months. It was just missing here. So I create to help FW community too.
That's not entirely accurate. It was not until yesterday that it was publicized on BankDeals that the CU had a loophole creating potential nationwide eligibility for membership.
http://bankdeals.blogspot.com/2008/07/update-on-midwest-america-fcus-701.html

So, I agree with lhendricks92 and craig10x.

I didn't want to clutter up this thread, but wanted to post a bit about this account and its possible longevity (or lack of it) as part of a general trend.

See here. Feel free to read it, if you dare and comment on it there. I'll spare this thread anything beyond information about MWAFCU.

Edited to make more coherent. It's past my bedtime.

Smooth said:The SPCA membership is just $15 for seniors (over 55).

I would rather be less than 55 and pay $30

beethovengirl said:klm123 said:2nd this CU deal has been discussed several other finance deal sites for last 6 months. It was just missing here. So I create to help FW community too.
That's not entirely accurate. It was not until yesterday that it was publicized on BankDeals that the CU had a loophole creating potential nationwide eligibility for membership.
http://bankdeals.blogspot.com/2008/07/update-on-midwest-america-fcus-701.html

So, I agree with lhendricks92 and craig10x.

So funny, Your links clearly says 'This yield has been maintained since my first post of this credit union on February 3rd'

7% yield has been discussed in that site since Feb. See the message by members in that site.

klm123 said:beethovengirl said:klm123 said:2nd this CU deal has been discussed several other finance deal sites for last 6 months. It was just missing here. So I create to help FW community too.
That's not entirely accurate. It was not until yesterday that it was publicized on BankDeals that the CU had a loophole creating potential nationwide eligibility for membership.
http://bankdeals.blogspot.com/2008/07/update-on-midwest-america-fcus-701.html

So, I agree with lhendricks92 and craig10x.

So funny, Your links clearly says 'This yield has been maintained since my first post of this credit union on February 3rd'

7% yield has been discussed in that site since Feb. See the message by members in that site.

Yes....but what you don't seem to get that it wasn't until now that they realized about this loophole in..notice all the comments are just from the last few days (regarding SPCA membership)...that's what i meant when i said the "cats out of the bag" and that's what may cause one or both of the effects that i mentioned.....

I read about the deal on Bank Deals quite a long time ago, checked out the website and said..wow..this is great, and was ready to put an application then, but upon further reading (at bankdeals) gave me the impression it was LOCAL ONLY so i didn't bother (i hadn't noticed at the time about the SPCA membership at the CU's website)....

So while it's true that the CU HAS maintained this terrific rate that long....this could quickly change the situation...especially if they get a flood of rate chasers from fw, bank deals and other sites that will now point this out.....

At this point, i won't make any further comments..just wanted to clarify that

RobInBoston said:The FW effect~! I was all ready to switch until I read about this effect.
Guess I'll keep the 4.01 I currently get

Or sign up for a good local deal, if you can find one (or a national deal that's guaranteed, like Arizona was...until the fwf effect). That's what I did, having been burned by the fwf effect a few times in my short time here.