Pentagon Federal Credit Union (PenFed) Review, Rates: CDs, Savings, Money Market, Mortgages

PenFed is a sustainable financial institution, serving more than 1,046,583 members in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies and the Veterans of Foreign Wars. They have proven to be a strong and safe establishment with more than $15 billion in assets and by providing user friendly services. Since being federally chartered in 1935, they have been offering and improving the deposit accounts and other banking services they offer, which include credit cards and loans.

The dynamic cliental of this financial institution calls for convenience and PenFed delivers in a spectacular way. They help service their customers worldwide, seven days week, 24 hours a day with their online banking services. PenFed also serves their cliental by telephone and at branches that are located in the Washington D.C. area, Hawaii, New York, Texas, North Carolina, as well as over seas.

PenFed is comprised of member-owners and is headed by a volunteer Board of Directors. Each director that wants to volunteer goes through training and provides relevant, knowledgeable advice to the credit union.


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Choice Scaring Away Property Owners From Buying Home Insurance

Choice, the consumer group is advising consumers who live in places that are prone to flooding from taking out insurance in an irresponsible manner, whilst at the same time heavily criticizing the industry according to the insurance council.

Recently the advisory group held its annual Shonky Awards, where the group awarded lemon trophies for dubious dodgy and deceitful goods and services.

Choice singled out the insurance industry, following this summer’s flooding in Victoria, Queensland and New South Wales.

According to Choice, this year’s flooding left people who lived in the three states without any cover as insurers sought to avoid their liabilities.

Rob Whelan the executive director and chief executive of the Insurance Council of Australia says the group may scare property owners who are at risk from buying flood insurance.

“We don’t want a situation to arise in which property owners do not have appropriate cover for their property because they were put off by irresponsible and inaccurate statements by Choice,” Mr Whelan said.

According to Mr. Whelan, 1


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How Much Money Makes You Rich?

How much money makes you rich? According to Americans surveyed recently by Gallup, you’re rich if you have $1 million in assets, or $150,000 in annual income.

Those were the median answers; people with college degrees, those with larger incomes, and those who live in cities and suburbs tended to give higher answers.

Planet Money Question of the Day:

How much money makes you rich?

We know that true wealth is the love of friends and family, the satisfaction of a job well done, etc. We know this is a wildly subjective question.

But we’re looking for numbers here: Please tell us, in terms of annual income and/or net worth, what’s the minimum required to count as rich? Feel free to add context such as age, family size, and what part of the country (or the world) you’re talking about.

If you want to chew over some data before answering, here’s a graph showing the distribution of household incomes in America, and here’s more from the Gallup survey.

Please post your answer in the comments.


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How Much Is YOUR Electric Bill? Here Are No Cost and Low Cost Changes to Save Energy This Winter and Beyond

I despise wasting money and especially wasting money on energy. And with reports that electric bills have soared $300 per household in the last 5 years, it’s becoming more and more important to only use the energy we need if we want to avoid wasting energy … and dollars.

“Making money is like digging with a needle, spending it is like pouring water on sand.” ~ Confucius

And so it is with our energy usage. It’s so easy to consume energy and to waste it! But with skyrocketing energy costs, if you’re like me, you are constantly looking for ways to reduce your family’s energy consumption and put that money in your pocket instead.

I have a confession to make – I’m not “green.” I don’t drive a Prius, don’t recycle that often, and don’t subscribe to any of the global warming alarmist rhetoric. What I do subscribe to is saving money and if there are cost savings to be had, I’m definitely on board.

My personal electric bill runs anywhere from just over $100/month in the spring and fall to over $200 in the summer and winter. We have some pretty hot summer


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Facebook IPO – A $100 Billion Nightmare?

A Facebook IPO is in the works.

As the company prepares to go public it’s boosting its operations to prepare for life as a public company.

According to Forbes, the company is beefing up staff in its advertising departments in New York, presumably to lock in more valuable advertising contracts (and earnings) before a big IPO on Wall Street.

Facebook 2011 Earnings

The same Forbes article suggests the company made $500 million in the first half of 2011.

Time Magazine reports the company should make as much as $5 billion in 2013. With an high-flying dot com, future projections for earnings are risky – there’s no way to know for certain what the future brings for fast-growing companies.

Groupon was the fastest growing company, and yet its earnings have yet to materialize. Read more about the Groupon IPO.

Should you buy the Facebook IPO?

According to reports, Facebook will seek to float as much as $10 billion in shares. A Facebook IPO float of $10 billion would value the company at more than $100 billion – a lofty valuation for a company that will make only $1 billion this year.

Buying growing companies is particularly difficult. If grow


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