Dedicated to Deposits: Deals, Data, and Discussion

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

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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.
  Tags: CD rates, IRA rates, Northrop Grumman Federal Credit Union

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Comments
Comment #1 by Anonymous posted on
Anonymous
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