CD Rates Remain High at Northrop Grumman FCU (Easy Membership)

Comments (1)
Jun 19, 2007 - 8:51 AM by Ken Tumin

Northrop Grumman Federal Credit Union
Northrop Grumman Federal Credit Union (NGFCU) continues to offer very competitive rates on its regular and IRA certificates. The short term CD rates have been going down over the last few months, but the long term rate have been going up. The best rate for a minimum deposit of $40K is 5.94% APY for a 60-month term. The one year certificate yield is 5.41% APY. Similar rates are also available for IRA's. Rates change every Tuesday. Below is the list of APY's for both the $2.5K minimum and $40K minimum deposits:

CD Term      APY         APY
          $2.5K min   $40K min
6 month     5.04%       5.30%
12 month    5.15%       5.41%
24 month    5.28%       5.55%
30 month    5.36%       5.62%
36 month    5.42%       5.68%
48 month    5.55%       5.81%
60 month    5.67%       5.94%

Please see my May NGFCU post for more information on NGFCU, these CDs and how to qualify for membership.

Banks Mentioned in this Post:

Northrop Grumman Federal Credit Union
Locations: 18   Health Rating: 		 
Recent Posts: New 7-Year CD Rate Leader at Northrop ... | Competitive 7-Year CD Rates at Northro...


Post a CommentComments
In order of date posted. - Sort by votes
Anonymous

Anonymous - #1, Monday, June 25, 2007 - 11:43 AM

I was going to get a 5-year jumbo share certificate from Northrop-Grumann. I looked at their Term Account Disclosure at...

http://www.norgrumfcu.org/tnc/tnc04_fm.html

and it provides that...

The Board of Directors may redeem Term Accounts prior to the expiration of the term upon 30 days notice.

Is this a commonplace provision and is it often exercised? I'm going long-term for the reliability of income, and I don't want the share certificate redeemed if rates go down. I looked at the Western Federal Credit Union disclosure statement, and it does not seem to have a similar provision.

Thanks for the great site.


1

Add Your Comment


Post a Comment

Nationwide Savings Accounts
Related Posts
Melrose Credit UnionCD Rates Down But Still Competitive at Melrose Credit Union
Christian Community Credit UnionChecking and CD Promotions at Christian Community Credit Union in CA
GE Capital Retail BankHigher CD Rates at GE Capital Retail Bank
LOMTO Federal Credit UnionForum Thread: Had A Wonderful Experience Today At The Manhattan (NYC) Branch Opening A Beneficiary IRA
CIT BankCIT Bank Now Offers IRAs with CDs and the Savings Account
Progressive Credit UnionHigh CD Rates and Unique Membership Requirements Continue at Progressive Credit Union
BarclaysBarclays Now Allows Interest Disbursement On CDs
Mountain America Credit UnionForum Thread: Opening An IRA CD At Mountain America Credit Union
Useful Resources
Featured Accounts