Dedicated to Deposits: Deals, Data, and Discussion

3.50% 55-Month CD & 2.25% 18-Month CD at NASA Federal Credit Union - Easy Membership

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NASA Federal Credit Union
NASA Federal Credit Union has a September certificate special with some competitive short and long-term rates. The following are the rates as listed in the credit union's promo page as of 9/01/09:
  • 3.50% APY 55-months
  • 2.25% APY 18-months
  • 1.65% APY 9-months
Minimum deposit is $5,000. According to the certificate rate table, these specials are also available in an IRA and ESA.

The rates are a little better than last month's special, but not quite as good as July's special when NASA FCU was offering a 4% 50-month CD. During that July promotion, readers noted the following on page 23 of the member services agreement (pdf):
This rate will not change during the term of your certificate unless the Credit Union notifies you at least 30 calendar days prior to any rate decrease.

So technically these are callable CDs. However, it appears very unlikely that the credit union would call the CD. Here's an excerpt of an email I received from NASA FCU:
This notification does permit NASA Federal to adjust the rate on a fixed term provided notification is provided to the account holder with 30 days notice. To my knowledge, in the 60 year history of NASA Federal we have not applied this policy.

A couple of other important certificate details mentiond in the member services agreement include:
  • Early withdrawal penalty is 180 days of dividends on the amount withdrawn
  • Grade period a maturity when the CD can be redeemed without penalty is 10 calendar days
In addition to many select employee groups, the credit union's field of membership includes several associations in which anyone can join. A reader in my previous post noted that they've added a new association (American Consumer Council). This is free to join, and you can join at this credit union page. A $5 minimum balance to your savings account is required for credit union membership. Readers have mentioned in this July 2007 post that the online application requires a minimum $25 deposit to fund electronically.

Commenters in past NASA Federal posts have mentioned that NASA Federal has done hard credit pulls via Equifax (which will slightly ding your credit score) during account opening.

Branches are located in Maryland, Washington, DC and Virginia.

NASA Federal continues to have a solid ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 6328).

Other High Certificate of Deposit Rates
  Tags: NASA Federal Credit Union, Virginia, Maryland, CD rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
Tried to open a 3.5% 55 month c.d. and they required a notarized copy of my wife's and my drivers license. That's a first. Very inconvenient to have stuff notarized so I withdrew my application for membership.

1