Unfortunately, unlike NGFCU's standard CDs, these specials are available to NGFCU members of record prior to 2/24/2009 and NGC and Metro employees and their family members who are not current members. Note, this restriction is stated near the top of the rates page under the section "Share in the Profits." This is the same promotion that NGFCU did last year, so if you're not already a member, you may want to join now so you can take advantage if they offer this again next year.
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 2.88% APY and the 24-month CD has a yield of 3.09% 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 Northrop Grumman FCU review post.
NGFCU has branches in several cities of California, Illinois, Maryland, Virginia, Louisiana and Florida.
NGFCU continues to have solid ratings for safety and soundness: 4 stars (sound) at Bankrate.com and 5 stars (superior) at BauerFinancial. Both ratings are based on 9/30/08 financial data. The credit union is federally insured by the NCUA (Charter # 24292).
Thanks to the reader who mentioned this special in the Daily News and Deals Post.