Dedicated to Deposits: Deals, Data, and Discussion

5.65% 7-Month CD at NASA FCU (Open to All)

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NASA Federal Credit Union
NASA Federal Credit Union just started a new certificate promotion with a yield of 5.65% APY and a term of 7 months. The minimum deposit is $5,000. It's avaiable as a regular and IRA certificate.

This promotion replaces the 5.80% 7-month special that started in April. Even though this new special has a lower yield, it doesn't require a checking account like the previous special.

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 njmacuser who mentioned this special in the finding deals post.
  Tags: NASA Federal Credit Union, Virginia, Maryland, CD rates, IRA rates

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Comments
12 comments.
Comment #1 by Anonymous posted on
Anonymous
I suspect they're getting slammed -- this morning the online application was not available; this afternoon I'm having trouble even getting to their home page. BTW, the minimum online initial funding is $25 (of which $5 is the membership fee), and altho the NSS initial membership is $20, the annual renewal fee is $45.

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Was the initial funding and fee requirement in the application? I based my info on this page which states "Low $5 deposit required to open and maintain membership."

About the annual renewal fee for NSS, this page states you don't have to continue an association membership to maintain credit union membership. This is pretty common with credit unions.

1
Comment #3 by Anonymous posted on
Anonymous
Yes, when you go through the online application you're told that the minimum deposit is $25 which includes the $5 membership, although now that I think abut it, I'm not sure if the $25 is the minimum to open online or the minimum to fund electronically when opening online (you could chose to send a check).

1
Comment #4 by MrFrugality (anonymous) posted on
MrFrugality
From the first page of the online application:

" I agree to make a deposit of at least $25 to open my Savings account."

Contradictory, to say the least, from the "Low $5 deposit required to open and maintain membership." on the info page.

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Comment #5 by Anonymous posted on
Anonymous
Opened an account online with the minimum deposit on Tuesday evening. At the end of the process it stated that I would be contacted within 2 business days. It's now Thursday evening and I still don't have an account number so I can login to purchase a CD. I haven't even gotten an email to acknowledge that I completed a membership application. Needless to say, I'm not very satisfied with the service at this point.

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Comment #6 by Anonymous posted on
Anonymous
Still can't access the account I opened last Tuesday. Called NASA FCU on Friday to get an account number; however, it doesn't work with my password. When I tried to change the password using their "forgot password" link, I got the following error message "cannot process your request because your email or home address was recently updated". Still haven't received a single email from NASA FCU acknowledging that I opened an account.

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Comment #7 by Anonymous posted on
Anonymous
Called and was advised they do a hard credit pull whether the account is opened online or in person. The CSR confirmed this policy with her supv.

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Comment #8 by Anonymous posted on
Anonymous
I opened an account at this FCU after reading the post here. I was a NSS member already and the online application process worked OK for me. I got a Welcome letter in the mail a few days later with membership cards and my account number. My account shows up on their online site, so it worked OK.

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Comment #9 by Anonymous posted on
Anonymous
It was super easy to open this CD online through the NASA FCU website. I used ACH to transfer $5000 into the Savings account at NASA and then was able to open the new certificate CD account online with a couple of clicks. This made it very easy!

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Comment #10 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad to see they allow you to open the CD online and pull funds from your savings. I did this same thing at Navy FCU, and it makes opening a CD very easy.

I would think linking an online bank account to the CU's savings account should also make closing the CD easy. When it matures, just have it transfered to the savings, and then you can pull it out using your online bank account.

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Comment #11 by Anonymous posted on
Anonymous
My CD matured and it was simple to ACH transfer the money out of NASA using my eTrade ACH account. The 5.65% rate was nice while it lasted. Thanks for posting this deal.

1
Comment #12 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for following up on this. Glad the CD closing went smoothly.

1