NASA Federal Credit Union has been offering a very competitive 49-month CD special since February. The rate went up in June by 25 basis points to 2.25% APY. In addition, the credit union started to offer a new shorter-term CD special. It’s a 15-month CD with a 1.25% APY. Minimum deposit is $5,000, and new money is required. These are also available in an IRA. These specials are listed at the credit union’s rates table as of 6/3/2014. It’s a limited-time offer that is subject to change at any time.
|NASA Federal Credit Union||2.25%||$5k||-||49 Month Share Certificate Special|
|NASA Federal Credit Union||1.25%||$5k||-||15 Month Share Certificate|
According to the credit union’s Q&A’s database, the early withdrawal penalty is "up to six month's loss of dividends on the amount withdrawn." This appears to apply to all maturities.
In addition to NASA and many other select employee groups, the credit union's field of membership includes several associations in which anyone can join. One of those associations is the Moon Society. NASA FCU has a link to the Moon Society application page. The cost ranges from $20 to $35. Once you’re a Moon Society member, you can apply online for NASA FCU membership. In the membership eligibility section of the credit union application, you can select Moon Society. For more details, please refer to the credit union’s membership page and NASA FCU’s associations page.
Credit union membership page requires a minimum balance of $5 in the savings account.
In February, the DA member Sylvia shared her experience opening a CD at NASA Federal. Below is an excerpt of her comment (Thanks!):
Account was easy to open online. If you pass the automated identity verification questions, as I did, there's no need to send copy of drivers license. I got an account number right away, which I used to wire in funds for CD. (No cost for incoming wires.) Through online banking, I then opened the CD by transferring money from savings account, once received. This all happened within a day's time. In between, I had many questions for member services, which the reps patiently answered.
If you have opened accounts at NASA Federal, please share your experiences in the comments. They are very much appreciated!.
Credit Union Overview
NASA Federal Credit Union branches are located in Maryland, Washington, DC and Virginia. Some of these branches are in facilities that have restricted access. The credit union is part of the CO-OP Shared Branch network. This allows NASA FCU members to conduct many banking transactions at other credit unions that are part of this network.
NASA FCU is a large credit union with over $1 billion in assets. The credit union has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 4.98% (excellent) based on December 2013 data. Please refer to our financial overview of NASA Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 6328).
Edit 6/13/14: Updated membership information.