Hanscom Federal Credit Union CU Thrive

[volker]

I stumbled accoss the Hanscom Federal Credit Union CU Thrive account. The reason why it catch my eyes is the current 2.95% interest rate

https://www.hfcu.org/rates.html

From my understanding this rate is fixed for 1yr and you can only fund up to $500/month to it. You can only have one CU Thrive account, too. I assume the money is released after one year when it reaches maturity where it doesn't get renewed. I didn't find any information what happens if you want to withdraw the money early (e.g. if you put your emergency funds there).

The website is a little bit unclear but it seems like you can join them with one donation.


I didn't find any information that they have prepaid debit cards, nor that they sell VGC

 

[ENOTTY]

Did a bit more googling and found that credit card funding is possible. IN 2014 people reported up to 5000 of credit card funding with no cash advance fees on chase and amex. There's also a $30 referral bonus. No hard pull to open. With this system, you can expect about $98 per year.

Sources:
http://www.calculator.net/future-value-calculator.html?ctype=endamount&cyearsv=12&cstartingprinciplev=0&cinterestratev=0.25&ccontributeamountv=500&ciadditionat1=beginning&printit=0&x=0&y=0
http://www.mymoneyblog.com/hansom-federal-cu-thrive-review.html
http://forum.mrmoneymustache.com/reader-recommendations/high-interest-cd-(3)-credit-card-churn-opportunity-($2000)-hanscom-fcu/