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cd’s

By Terry Savage on January 16, 2022 | Chicken Money

Hi Terry – I keep seeing these ads in the Trib from Sun Cities financial offering a six month cd for 3.5%. is this legit – It seems awful high when almost all the other ones are under 1%. Any thoughts you have would be appreciated.

Terry Says

I haven’t seen the ad, but for sure there is a catch. Upon a bit of research, they are not a bank but a “broker.” They “say” they are putting your money into FDIC insured CDs, but that rate is outrageous (plus they need to earn a commission). So WHERE are they putting your money, and what is the underlying guaranty? makes me say I wouldn’t touch this “deal.” Definitely in the category of “too good to be true.”

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