NASA Federal Credit Union is headquartered in Upper Marlboro and is the 3rd largest credit union in the state of Maryland. It is also the 96th largest credit union in the nation. It was established in 1949 and as of December of 2018, it had grown to 300 employees and 159,763 members at 12 locations. NASA Federal Credit Union has an A health rating.
Membership in NASA Federal Credit Union is open to anyone through a complimentary membership to the National Space Society. Membership is also open to employees or retirees of NASA Headquarters or any NASA Center or Facility or NAS, employees or members of NASA Federal Credit Union partner companies or associations.
See current membership details
The process to become a member and to open an account was long but once open it was easy to fund.
Wired funds posted in less than 24 hours.
2 minute phone call to buy 15 mo. 3.25% CD.
In retrospect, I am happy to jump through a few hoops to insure that my account is secure and that the bank isn't allowing any funny-business.
I feel like I am in good company (naIve as it may sound.) Feeling Happy!
2nd wire transfer posted approximately 3 hours after it was sent.
Went to their website, filled out application. 2 days later received email Status as Approved. Interest compounds monthly.
Had to call to get my Account number and asked it there was a Maximum I could deposit. No can put in as much as I want. Wired in money. My CU has free outdoing wire and NASA doesn't charge to receive wire. 2 hours later in my account. Called and told CSR to open my 15 month CD. All done. No Notary needed. They did have me scan and send in Driver's License and my Trust Certification copy. Easy. A+ CSR very nice.
The application process went alright but some aspects need work. They won't ACH money in so once you're accepted as a member you have to either send a cashiers check or wire the money to them. After that's accomplished the money goes to a savings account and from there you fund the CD, except you can't do that online yourself. You have to call and get them to do it for you. Also, I was told I'd be able to add a POD to our joint acct during the application process. Never saw it so they sent me my prefilled app back through e-mail and I had to print it and fill out the POD area, sign it, and then send it back to them. But when you compose a message to them through your account area there is no way to put an attachment with it. I found the original application portal where I'd had to upload DL, SS card, and proof of address so uploaded it there but they can't seem to find it. Waiting on someone to see if they can track it down. Also you can't change beneficiaries on each CD. Whoever is listed is the beneficiary for all your money with them. You can add someone and it will split the total but not different ones for different CD's. The rate I got was great and the people try to make things go smooth but their overall process is awkward.
I was approved for the 15 mo. CD, yet I suppose I have to call to fund my CD, yet I called 3 times until they closed without an answer. :-(
Update, 6/23/19: The bank is open Saturday so I was able to get a hold of a Rep and was explained how to fund first the Savings account, wire transfer is the best option, and then call to fund CD. You have 10 days to fund CD. For the POD or Beneficiary, you have to download/print the Member Application, fill out, including Beneficiary, and return via email to: [email protected] . I don't think I will fund a CD if the Beneficiary is not established first, so I hope they can process it quickly otherwise I won't take my chances.
|Return on Assets - YTD||1.08%|
|Return on Equity - YTD||10.87%|
|Annual Interest Income||$114.4MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$2.60B$2.28B|
|Loans||Q4 2018vs Q4 2017||$1.94B$1.85B|
|Deposits||Q4 2018vs Q4 2017||$2.17B$1.85B|
|Equity Capital||Q4 2018vs Q4 2017||$256.0MM$228.4MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$26.4MM$22.7MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$20.0MM$20.2MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$587.00K$372.00K|
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Rates for NASA Federal Credit Union are currently being reviewed.