Dedicated to Deposits: Deals, Data, and Discussion

4.12% 15-Month CD for Current Members of Northrop Grumman FCU

POSTED ON BY

Northrop Grumman Federal Credit Union
Northrop Grumman Federal Credit Union is offering a special 4.12% APY 15-month CD and a 2.98% APY 9-month CD. The minimum deposit is $40,000. The rates are 25 basis points lower for a $2,500 minimum deposit. The same rates are available for IRA certificates. These rates are listed in the credit union's rate table as of 2/25/09.

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.
  Tags: Louisiana, California, Virginia, Illinois, Maryland, CD rates, IRA rates, Northrop Grumman Federal Credit Union, Florida

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Comments
5 comments.
Comment #1 by Anonymous posted on
Anonymous
Can anyone let me know if Northrop Grumman pull hard credit report? I spoke with the representative by the name of Tabitha ans she said it's not hard pull, but I was not sure if she knows it when opening account online. Please let me know. Thank you.

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Comment #2 by Anonymous posted on
Anonymous
I opened a new account online this morning with the $8. membership fee coming directly out of my checking account. When I printed out the application it came up with a processed account number.
I then call the 800 number and asked how I could get the 4.11% 15 Month Term Certificate. The Rep told me to Fax a note with the Account number and a Rep would call me back with instructions.
I did and I got the callback. I should get the CD when my check is received. I was told this rate may end Tues, 3/3.

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Comment #3 by Anonymous posted on
Anonymous
I opened up an account a couple of years ago, thanks to this site. I have been so happy with them I have renewed them ever since and will be taking advantage of this offer. In answer to your question, they did not do a hard credit pull back then.

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Comment #4 by Anonymous posted on
Anonymous
A lot of the high APY checking are credit unions that have stricter membership guidelines. But one of them I checked out and sent an email to told me that if I did not meet the membership guidelines (which I didn’t cause I had to be employed at specific places or be part of some group) I could mail them a check payable to a regional ASPCA chapter and I would become a member of that chapter, allowing me to join the credit union.

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Comment #5 by Anonymous posted on
Anonymous
Rates have gone down. The 15 month and 9 month specials remain. Best rate, however, is now 3.78% APY for the 15 month bonus ($40K min.).

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