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4.64% 15-Month CD for Current Members of Northrop Grumman FCU.

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Northrop Grumman Federal Credit Union
Update 3/8/08: The CD rates have fallen. The 15-month and 9-month yields are now 4.44% APY and 4.26% APY. Please see credit union's website for the latest rates.

Northrop Grumman Federal Credit Union is offering a special 4.64% APY 15-month CD and a 4.44% APY 9-month CD. The minimum deposit is $40,000. The rates are 25 basis points lower for a $1,000 minimum deposit. The same rates are available for IRA certificates.

Unfortunately, unlike NGFCU's standard CDs, these specials are available to NGFCU members of record prior to 2/29/2008 and NGC and Metro employees and their family members who are not current members.

For those who don't qualify for these promotions, NGFCU continues to have some competitive rates on its regular CDs. The 12-month CD has a yield of 4.33% APY and the 48-month CD has a yield of 4.44% APY. Both require a $40,000 minimum deposit. The rates are 25 basis points lower for a $2,500 minimum deposit, and like the promo, these same rates are available in an IRA.

Anyone can qualify for NGFUC membership by joining an assocation. For details about membership and their certificates, please refer to my last month's Northrop Grumman FCU review post.

NGFCU has branches in several cities of California, Illinois, Maryland, Virginia, Louisiana and Florida.

The credit union is federally insured by the NCUA (Charter # 24292). It has $601.5 million in assets and 49,235 members. The credit union has a 4 out of 5 star rating (sound) at Bankrate.com based on 9/30/07 data.
  Tags: Louisiana, California, Virginia, Illinois, Maryland, CD rates, IRA rates, Northrop Grumman Federal Credit Union, Florida

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Comments
Comment #1 by Anonymous posted on
Anonymous
Rates may have gone down since last update or I may be reading charts incorrectly. It now looks like the 12 month is at 3.67% APY with $40K+. Using this same "bonus term savings" schedule, you can get about 4.40% APY for 15 months, again with $40K+ deposit.

1