NRL FCU (Easy Membership) Offers "777" 7-Month Certificate


UPDATE 5/2/2016: No longer available.

Availability: Easy membership

Virginia-based NRL Federal Credit Union (NRLFCU) is offering a limited-time "777" 7-month Loyalty Rewards Share Certificate (7.00% APY). The minimum deposit is $500, with a $7k balance cap, and there is a limit of one "777" Share Certificate per member.

The 7.00% APY includes the maximum Loyalty Rewards rate increase (0.25% APY.) The Loyalty Rewards program automatically gives members a better rate when establishing a new qualifying Share Certificate, auto loan, or personal loan. Meet one of the following and your rate will become 0.05% better; two of the following, 0.10% better; three or more, 0.25% better.

  • Direct Deposit to NRLFCU
  • eStatements with NRLFCU
  • An active Visa CheckCard with NRLFCU
  • A loan refinance from another financial institution
  • Apply for a loan or new certificate account online with NRLFCU
  • Deposits totaling $250,000 or more with NRLFCU
  • A mortgage with NRLFCU

If the "777" 7-month Share Certificate is opened without any Loyalty Rewards rate increases, the APY is 6.73%, with the same funding requirements.

Exactly how good is this deal?

The combination of the short term and the $7k balance cap certainly temper the appeal of 7.00% APY, but the dollar amounts (approximate) speak for themselves.

  • $285 = $7k for 7 months in Loyalty Rewards Share Certificate (7.00% APY)
  • $275 = $7k for 7 months in Share Certificate (6.73% APY)
  • $41 = $7k for 7 months in a Savings Account (1.00% APY)
  • As stated in NRLFCU’s Account Terms, Disclosures and Agreements, the Early Withdrawal Penalty reads as follows:

    Terms up to 12 months, 30 days dividends

    Many thanks to DA reader, Mr_DYI, for his Forum post about this deal!


    Headquartered in Alexandria, Virginia, NRL Federal Credit Union offers a variety of ways to join.

    Easy Membership - Membership in the American Consumer Council (ACC) qualifies for NRLFCU membership eligibility. Joining ACC can be done through NRLFCU’s website.

    Employment - Government employees (civilian or military), or contract employees stationed at or paid by the Naval Research Lab are eligible to join.

    Affiliation - Employees, students, or members of any of 100+ Select Groups are also eligible for membership. The Select Groups are listed on the first page of NRLFCU’s online applicaton.

    Family - Immediate family and household members of current NRLFCU members are eligible to join. This includes spouse, parent, child, sibling, grandparent, grandchild, stepparent, stepchild, stepsibling, adoptive relationships, domestic partners, roommates, and legal guardian relationships.

    Joining NRLFCU can be done online, or at any of three branches, located in Alexandria, Virginia; Waldorf, Maryland; and Washington DC. The Membership Application is also available as a download and can be returned by mail.

    Opening the 777 7-month Share Certificate can be done either online or in person at any of the above mentioned branch locations.

    Credit Union Overview

    NRL Federal Credit Union (NCUA Charter # 5380) has an overall health grade of "A" at, with a Texas ratio of 4.07% (excellent) based on December 31, 2015 data. In the past year, NRLFCU has increased its total deposits by $8.58 million, an above average annual growth rate of 2.17%. Please refer to our financial overview of NRL Federal Credit Union for more details.

    NRL Federal Credit Union was founded in 1946 for the benefits of the employees of the United States Naval Research Laboratory (NRL), is the corporate research laboratory for the United States Navy and the United States Marine Corps. NRL carries out a variety of basic scientific research, applied research, technological development, and prototyping. The field of membership was expanded in the past few years to include members of the American Consumer Council, and today NRLFCU has over 20,800 members and assets in excess of $451 million.

    How the Share Certificate Compares

    When compared to the 121 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationally, NRL Federal Credit Union’s 777 7-month Share Certificate APY currently ranks first.

    The above rates are accurate as of 4/27/2016.

    To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

    Mr_DYI   |     |   Comment #1
    Ken, I have found so many great rates from this website, that I am glad I can finally contribute!
    Anonymous   |     |   Comment #2
    Is it Hard/soft pull?
    Credit card funding?
    Anonymous   |     |   Comment #19
    Soft pull and credit card or ACH funding 
    CapitalClimate   |     |   Comment #3
    Way too much work for <$200 benefit after federal and state taxes.
    JimDavis   |     |   Comment #4
    So you make $200 an hour then in your day job?
    Anonymous   |     |   Comment #5
    Applied online today; will hopefully be smooth.  Thanks for the tip!
    Anonymous   |     |   Comment #27
    Way too much nagging.
    Ed   |     |   Comment #6
    Wow, geeze....alot of work to apply and set up.....for only 7 months too.
    JimDavis   |     |   Comment #7
     Took maybe 10 minutes of actual typing. 15 on the outside.  Sometimes I wonder what troubles people.
    Anonymous   |     |   Comment #8
    Do they perform a hard credit inquiry when you apply for membership and open an account?
    Most banks/credit unions only use Chex and/or pull soft inquiries. However, some do pull hard inquiries, even for checking and savings accounts.  
    Anonymous   |     |   Comment #17
    No hard hit
    Anonymous   |     |   Comment #9
    Nice, Like to have over a dozen more! 100K yeilding 7% for half a year!
    Anonymous   |     |   Comment #10
    You can fund this with a credit card up to 10,000 so another 200 bucks made with my 2% back credit card.
    NYCDoug   |     |   Comment #11
    It would actually go through as a Cash Advance, so more likely than not you would be losing money on the fees due your credit card company
    Anonymous   |     |   Comment #14
    I think citi bank will always treat it as cash advance.  Hope more people can chime in for this.
    JimDavis   |     |   Comment #15
     Thats what I read. I toyed with used a citi card but decided  it would prob not work, based on reported results.
    Anonymous   |     |   Comment #37
    I DID NOT use citi for this.  I used pricline visa which I've used for other bank openings and did not have an issue being a cash advance.
    Anonymous   |     |   Comment #12
    Thank you, Ken. Easy procedure. Great find!
    Anonymous   |     |   Comment #13
    Does credit card treat the funding as cash advance? Does anyone know for sure?

    Are we allowed to fund the account from several sources like from more than 1 bank accounts?
    Anonymous   |     |   Comment #16
    The Credit Union informed me that when you apply for membership, they will hard pull Equifax. That’s a hard inquiry.
    Anonymous   |     |   Comment #18
    You were misinformed
    Anonymous   |     |   Comment #22
    I was told a soft pull.
    Anonymous   |     |   Comment #20
    Some one who opened this account please share if you can fund the account with 2 or more banking institutions. 
    Anonymous   |     |   Comment #21
    The online application did not permit more than one institution. Contact the credit union re alternative methods of opening/funding the certificate.
    anthonyjh21   |     |   Comment #23
    Has anyone tried funding with Capital One CC?
    Anonymous   |     |   Comment #24
    NRL online application is not user friendly and the interface looks outdating, it timed you out in the middle of opening an account without warning.  At the very end, it asks you how much to fund the account, but didn't say which account, member share savings only or both member share savings and the 777.  No explanation.  Then it asks you to upload your driver license and someone will contact you.  I've never been asked to upload dl before. 
    Anonymous   |     |   Comment #25
    I have done it all but so far is a slow cumbersome process but proceeds slowly and not complete yet.
    CSR told me they need license for all new members.
    Anonymous   |     |   Comment #26
    I'm already a member of American Consumer Council but they don't bother asking for the membership # instead they ask for your mother's first and last name and high school you attended. I'm like what the ...
    So, do you fund the certificate + membership fee at the same time? or just membership fee?
    Anonymous   |     |   Comment #28
    neither; I joined the credit union by checking the box indicating that my eligibility is based on my already being a member of the ACC;  the application did not ask for the membership number. A CU rep told me that they verify your membership with the ACC - they don't need the membership number.
    Anonymous   |     |   Comment #30
    Neither of what?  You don't fund any account?
    Hmm. Are we looking at the same thing?
    I don't see this as an option " my eligibility is based on my already being a member of the ACC" .
    Anonymous   |     |   Comment #32
    1. If you're already an ACC member, you do not need to pay a "membership at the same tine" that you fund the CD nor do you pay "just membership fee"  Neither of the 2 alternatives you mentioned comment #26. You do need to fund the CD and the savings account.

    2. At the beginning of the application, it reads:
    "To be eligible for membership with us, you must qualify. Please tell us how you qualify to become a member"
    a. Click on the box that reads: "I am an employee of the following Select Employee Group:"
    b.  Use the dropdown menu to select: "American Consumer Council Member"

    (According to the CU rep, that's how I qualified for membership -- I did not have to pay a fee, nor did I have to furnish my ACC membership number.

    Anonymous   |     |   Comment #34
    My bad, I didn't check the box that reads: "I am an employee of the following Select Employee Group:". but see how a membership of an association be listed under employee group?
    When I said membership fee, I actually meant the credit union member fee (share savings account).  So do you fund both CD and the Savings at the same time? Not too sure how this credit union does thing.  Anyway, keep us updated with account status.
    Anonymous   |     |   Comment #36
    you fund the CD and savings account at the same time; savings account has $5 minimum. It is not a fee.
    Anonymous   |     |   Comment #29
    The USA Patriot Act requires a current picture identification that verifies identity including name, address and other identifying information. You can't faulty the Cu for being compliant. 
    Anonymous   |     |   Comment #31
    No, but at least they should be up front about it. I don't have problem with authority but I don't have a scanner. Plus I opened many accounts online and none asks for uploading.
    Anonymous   |     |   Comment #33
    You don't need a scanner. Take a photo of your driving license with your phone and text it to your email address., then open your email from your computer and save the image on your computer. Login to your NRLFCU My Account Homepage to upload your valid ID / driver's license.   
    Anonymous   |     |   Comment #35
    I know that, but don't like to take personal credentials to go through phone, text and email. Scanner is more secure.  Personal preference if you will
    Anonymous   |     |   Comment #39
    How does a scanner transmission work?  Through the "wires" too
    Anonymous   |     |   Comment #38
    Thanks for all the great info!
    Anonymous   |     |   Comment #40
    The credit union has ended the offer. It was a limited time special offer subject to end at any time. 
    Anonymous   |     |   Comment #42
    You're right but they still have the promo banner on the home page.
    Anonymous   |     |   Comment #44
    Anyone here lucky to get in?
    Anonymous   |     |   Comment #45
    They took my money from my priceline credit card on Friday so I think I'm good.  I did 7000 grand for the cd and 2000 for the bank account for 2% rewards so  I got back $180 tax free plus the 7% or whatever it is on the 7000 for 7 months so $285 of taxable income for 7 months for a total of $465.  Not a bad investment.
    Anonymous   |     |   Comment #46
    did it actually open and your credit card charged. If so , how long did it take to open.  I needed to send a copy f my DL and My app is in referred status when i checked it online.  My card has not been charged yet.
    Anonymous   |     |   Comment #47
    They charged my credit card immediately on Friday.  I actually got an email from someone who works there and I emailed them a copy of my driver's license.  They told me they are sending the paper work.  But yes my credit card was charged immedateliy and I accumulated $180 in points.
    Anonymous   |     |   Comment #48
    They are still processing applications.  I opened mine before it was taken down and the status is still pending.  I called to check on the status and was told they are still processing apps from the 29th and couldn't give me an  eta. The rep said they got hundreds of apps on Sunday alone.
    Anonymous   |     |   Comment #49
    Major problems trying to get this share certificate.  They charged my credit card a week ago and still no certificate.  Call them and they say I haven't funded it yet.  Even though I have an account number, I can't enroll in online banking to see my account.  Every time I call they tell me to "wait a few more days" because they are busy with so many applications.  Not worth the trouble.
    Anonymous   |     |   Comment #50
    They have great auto loan rates too I just noticed new and used rates start at 1.24%
    6.60% 60-Month CD at a Maryland CU (NRL).
    NRL Federal Credit Union is offering a 6.60% APY 5-year certificate special for the month of July. There's a $500 minimum deposit. The special rate is also available in an IRA. Application can be done online.

    If interest rates hikes end this year, it might be time to consider locking in some of your money into a high yield long term CD.

    The field of membership includes employees or immediate family members of the Naval Research Lab and several other employers within the credit union's Select Employees Group. See site for details.


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