Talk of The Villages Florida - View Single Post - First American Trust?
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Old 04-29-2016, 09:57 AM
spuds51 spuds51 is offline
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Quote:
Originally Posted by Hopeful2 View Post
Thanks for all the feedback thus far.

I did received a communication in writing stating that the funds are FDIC insured.
It is a promotional deal to get new customers. You are issued a CD for the going rate (around 1 %) and First American Trust cuts you a check for the rest. You can only buy a 20,000 one, or less I assume, and only one per household. So you buy a 6 mo CD with 2% APY will net you 200 bucks for 20,000. I bought one...200 bucks is 200 bucks.

Don't expect to walk in and walk out. They want to show you their annuities.