5.37% 6-Month CD at a Multi-State CU (Open to All)

Northrop Grumman Federal Credit Union has high rates on all of their CD terms. The best deal is a 5.37% APY 6-month certificate of deposit. The minimum is $40K. A smaller APY of 5.11% is available for a minimum deposit of $2.5K. Below is the full list of yields and terms:

CD Term      APY         APY
          $2.5K min   $40K min
6 month     5.11%       5.37%
12 month    5.10%       5.36%
24 month    5.05%       5.32%
30 month    5.06%       5.33%
36 month    5.07%       5.34%
48 month    5.10%       5.36%
60 month    5.12%       5.38%

There is a 90 days of interest penalty for CDs with terms of 12 months or less. The penalty is 182 days of interest for CD terms over 12 months. There's one nice policy related to these penalties in that the penalty will only be applied to the money withdrawn if the CD balance after the withdrawal remains above the minimum balance. Otherwise, the penalty is on the entire balance and the CD will be closed.

In addition to employees of Northrop Grumman, the credit union's field of membership includes members of the Southern California Historical Aircraft Foundation. The credit union allows you to join this foundation concurrently with your membership to the credit union. The minimum payment is $15 which includes a one year membership to this foundation, a one-time fee for the credit union and an initial deposit of $5 to open a regular share account.

The credit union has branches in several cities of California, Illinois, Maryland, Virginia, Louisiana and Florida.

The credit union is NCUA insured. It has $538 million in assets and over 50,000 members.