Dedicated to Deposits: Deals, Data, and Discussion

5.80% 7-Month CD at NASA FCU (Open to All)

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NASA Federal Credit Union
NASA Federal Credit Union is starting a May certificate special that includes a 5.80% APY 7-month share certificate. The minimum deposit is $10,000 and the maximum deposit is $100,000. Unlike the credit union's previous CD specials, this one unfortunately requires you to have their VIPS Checking Account. There's also a 5.30% APY 9-month certificate special without any checking account requirement. The minimum deposit is $1,000. These CDs are available in an IRA with the same rates. These new certificate specials replace the 5.50% APY 5 and 15 months specials that I reported on at the start of April.

One important note regarding the VIPS Checking Account is that it has a $8/month fee unless you are at the Platinum Rewards level which requires a total credit union balance of $50,000.

In addition to many select employee groups, the credit union's field of membership includes several associations in which anyone can join. The National Space Society is one. The general membership cost is $20. Membership application for the credit union can be done online or can be printed and mailed. A $5 minimum deposit to your savings account is required for membership.

Branches are located in Maryland, Washington DC and Virginia.

The credit union is federally insured by the NCUA (Charter # 6328). It has $801.6 million in assets and over 66,961 members.

Thanks to the reader who mentioned this special in the finding deals post.

  Tags: NASA Federal Credit Union, Virginia, Maryland, CD rates

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
I'm going to call them tomorrow, but I'm not sure about the VIPS checking requirement. The special offer on their home page says "Get 5.80% APY for 7-months with just $5,000 to start when you have a VIPS Checking Account!" On the rates page it says you can get the 5.80% with a $10,000 minimum. When I first entered this info on your site, the VIPS checking offer wasn't on their home page, just the $10,000 - 5.80% offer on the rates page.

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Comment #2 by Anonymous posted on
Anonymous
I just noticed the fine print matches what you posted, and contradicts the offer on the home page. "*Annual Percentage Yield as of May 1, 2007, for a 7-month term. Special rate valid for those with a NASA Federal VIPs Checking Account only. Minimum $10,000 deposit. Maximum $100,000 deposit. If VIPs Checking is closed during the term of the Certificate, your rate will revert to the 6-month Certificate rate as of May 1, 2007 of 4.35% APY (4.27% APR). Early withdrawal penalties apply and may reduce earnings. Special Certificate renews automatically to a 12-month term at the rate in effect at the time of renewal unless otherwise directed. This limited-time offer is subject to change at any time."

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Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
I did notice the discrepancy between the $5K and $10K min. My guess is that the $5K minimum listed on the promo page is probably incorrect. We'll see if they correct this today.

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Comment #4 by Anonymous posted on
Anonymous
One thing you may want to change in the initial post is that there is no fee on the VIPS if the balance in the VIPS account is over 2,500. When they refer to the fee being waived for Platinum members, that is the fee you would be charged if the balance in the VIPS goes below the required 2,500 minimum. AFter doing some research it looks like their VIPS account is better than most banks checking accounts becuase the minimum balance is lower and the interest is more than most banks pay on their lower tier checking accounts. I'm going to swith my checking account to them for the great certificate rate.

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Comment #5 by PrettyCheap (anonymous) posted on
PrettyCheap
For anyone interested in the 5.8% CD, the deal ends on Saturday, June 30th according to the customer service rep I spoke with Tuesday.

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