No. of Recommendations: 3
PenFed just sent me the following, confirming email whose details of importance I've put in bold print.
Congratulations! You have reserved your Money Market certificate. There is nothing to do now but make sure the funds are available on your funding date. You probably never thought it would be so easy to get a great deal.

The certificate details are as follows:
Term: 10 Year
Open Date: January 3, 2011
Maturity Date: January 3, 2021
Dividend Rate: 4.880%
APY Rate: 5.00%
Funding Number: *********
Amount: $6,000

You may view or edit your certificate details at any time prior to the open date by logging on to PenFed Online with your username and password at

Thank You,
Pentagon Federal Credit Union


In other words, contrary to what a service-rep told Wendy earlier, if you can get your toe in the door, there is no upper limit to the size of the CD you can buy.

I still think the CD is a very bad choice that is sure to erode purchasing-power. But, for some people, in judicious amounts, it might not be as bad as some of their other choices. Your mileage will vary, of course. So do your due diligence before you buy and try to make a choice that you won't regret.
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