Maryland-based NASA Federal Credit Union (NASA Federal) has been offering limited-time Share Certificate Specials (SCS) with APYs at or near the top of their respective term lengths for several years. NASA Federal has once again raised the rates on its three SCS (9-month, 0.75% APY; 15-month, 0.80% APY; 49-month, 0.90% APY) by 10 bps, but this time the rates aren’t as competitive as they have been in the past. Of the three, the 9-month SCS has the most competitive APY.
|0.75%||$10k||-||NASA Federal Credit Union||9 Month Share Certificate Special - New Money|
|0.75%||$10k||-||NASA Federal Credit Union||9 Month IRA Certificate Special (Traditional, Roth)|
The SCS is also offered as an IRA (Traditional and Roth), earning the same APY with the same deposit requirements.
The minimum opening deposit is $10k, with no stated balance cap. As stated in the fine print on the Share Certificate Rates page, “new funds brought from an external source” are required for the opening deposit that must be made between December 1, 2020 and December 31, 2020. While no balance cap is specified, the Rates page also states
Credit Union reserves the right to limit deposits into this special Certificate.
This limited-time offer is subject to change at any time without notice.
As stated in the Certificate Terms and Conditions document, the Early Withdrawal Penalty reads as follows:
182 days for certificate accounts with terms up to 24 months and
365 days for certificate accounts with terms greater than 24 months.
There is a 10-day grace period before the 9-month SCS automatically renews to a 6-month term. If you withdraw the funds, no interest will be paid for the grace period.
Funding and Accessing Maturing Funds
A Share Certificate Special must be funded within ten days of opening, with the rate guaranteed during those ten days. Options for funding include ACH, wire transfer, or through a transfer from an existing NASA Federal checking or savings account. NASA Federal participates in the CO-OP Shared Branch network, making the transfer of funds relatively simple.
Maturing funds can be distributed by check, wire, or transferred into an existing NASA Federal checking or savings account.
Unlimited beneficiaries (equal shares) can be named, with a Social Security number required for each beneficiary.
Headquartered in Upper Marlboro, Maryland, NASA Federal Credit Union’s field of membership offers a way for virtually any U.S. citizen/resident to qualify:
Easy Membership: Membership in one of 14 affiliated associations, qualifies for Credit Union membership. NASA Federal will provide a one-year complimentary affiliated membership in the National Space Society (NSS), which “entitles you to full NASA Federal membership.”
Employment: Employees or retirees of NASA Headquarters, any NASA Center or Facility, or National Academy of Sciences are eligible for membership. In addition, any employee or member of one of 900+ NASA Federal partner companies also qualify for membership. (A complete list of partner companies can be found on the first page of the online application.)
Relationship: Relatives or household members of current NASA Federal members are eligible for membership (the online application requires the current member’s account number).
Joining NASA Federal and/or opening a Share Certificate Special can be done online. The Membership Certificate Application is also available as a download and specifically lists the SCSs at the top of application.
Mail Application and Check to: NASA Federal Credit Union, Special Offer, P.O. Box 1538,
Bowie, MD 20717-1538. Be sure to fund your Certificate within 10 days of account opening!
NASA Federal has reopened eight of its branch lobbies to walk-in traffic on a limited basis.
Following best practices, we'll be limiting the number of members in the branch at one time. Please expect that you may be asked to wait outside due to these safety precautions.
A Primary Savings account (minimum $5 deposit) is required to establish a NASA Federal membership.
NASA Federal is a member of the CO-OP Shared Branch network, giving members access to more than 5,000 branch locations across the country (including more than 120 locations in the Washington DC metro area) to conduct many business transactions.
Shared Branches allow members of participating credit unions across the country to conduct most of their financial transactions as if they were at their own credit union branch.
Credit Union Overview
NASA Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.85% (excellent) based on June 30, 2020 data. In the past year, NASA Federal has increased its total non-brokered deposits by $306.44 million, an excellent annual growth rate of 13.49%. Please refer to our financial overview of NASA Federal Credit Union (NCUA Certificate # 6328) for more details.
NASA Federal Credit Union was established in 1949 when seven members of the scientific community (with a total of $2 in deposits) received approval for a credit union charter serving NASA employees. NASA FCU is currently the third largest credit union headquartered in Maryland and the 91st largest credit union in the nation, with assets in excess of $3.3 billion and more than 186,000 members.
How the Share Certificate Special Compares
When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com, which are nationally available and require a minimum deposit of $10k or less, NASA Federal Credit Union's 9-month Share Certificate Special APY currently ranks third.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|0.90% APY||6-Month Share Certificate ($1k min)||CommunityWide Federal Credit Union|
|0.80% APY||7-Month Regular CD Special ($1k min)||Veridian Credit Union|
|0.75% APY||9-Month Share Certificate Special ($10k min)||NASA Federal Credit Union|
The above rates are accurate as of 12/3/2020.
To find the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.