Reviewing the log from those office hours, it appears
Garfield did not
"accept and speak highly of the suggestion", he merely said he would
look into the possibility.
Well I'm glad someone is sanity-checking me, but the statement "We get
some of best ideas from the community" occurred after the question
about certificates of deposit from credit unions and before the
response to the next question.
I'm also rather skeptical of the underlying claim
about the superiority
of credit union CDs in this context
So I googled "credit union 6 month certificates of deposit best rate"
and found
http://www.gobankingrates.com/cd-rates/6-month-cd/ which
shows offers of 1.47% for six month and 1.86% for 12 month CDs from
Metropolitan Service Credit Union, all of which are federally
guaranteed for up to $250,000, the same amount the government
guarantees all Citibank deposits per depositor for any total. Their
next four top rates, all over 1.0%, are also from federally guaranteed
credit unions.
Citibank's website says they offer 0.15% for six month and 0.2% for
twelve month CDs over $100,000. So it looks like the actual ratio is
that credit unions are offering up to about nine times as much
interest instead of the four times as much as it was in April. For a
$20 million reserve fund, the difference is about $300,000 per year.