The decline in CD yields.

bjs2
Contributor
June
WOW! I wonder why the yields on USAA CDs are so low. 0.03% is terrible. And the yield keeps going down. The local credit union's yield of 0.75% looks great in comparison.
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6 REPLIES

BrownieBug
Prestigious Contributor
June

I griped about the low rates for years, finally got fed up and took my cds to Ally Bank.  Now I get better returns.

Finally moved ALL of my money out of USAA Bank, I can sleep better now.

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USAF_Ret
Esteemed Contributor
In response to Bigbb
June
"To better serve our members, we regularly review our rates to ensure they're competitive and based on current market data."

Been awhile since I read this exact quote in several other responses. 😂 Could be because it's the standard response. They must use the same data source that determines the over-inflated insurance premiums that customers are charged. 😉

CSR: No need to respond. I'm already aware of the process and don't wish to reiterate what thousands of other members have already expressed to your management teams.
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USAA Social Service
USAA Service
USAA Service
In response to BrownieBug
June


@BrownieBug, 

To better serve our members, we regularly review our rates to ensure they're competitive and based on current market data. I am sharing your comments with our product management team for review and consideration.

We appreciate your membership and loyalty. Have a great week! ~  Lori C

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BrownieBug
Prestigious Contributor
In response to USAA Social Service
June

Lori,

Your statement that USAA CD rates are competitive is baloney.  Back around the 2005 timeframe it was true.  I invested a good amount of money in them.   BankRate.com had USAA listed as one of the best in the country.  Over time other banks passed USAA, we heard a lot from USAA but never any action.  Finally in early 2014 I started moving my money out of USAA, those banks have given me a better return on my money and have treated me better than USAA Bank did.  Please do not refer this up the ladder, I got a call yesterday form "the office of the CEO".  What a waste of time that was.

 

1 Like
USAA Social Service
USAA Service
USAA Service
June

Dear @bjs2. 

 

I can understand your concern about the annual percentage yield (APY). I appreciate you thinking of USAA for your banking needs and I am sorry you were not able to offer you the best APY. We will forward your feedback for further review. - Jesse 

 

Some USAA deposit accounts are interest-bearing accounts. Any interest rates provided are Annual Percentage Yields, or APYs.

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