NASA Federal Credit Union Hikes CD Special Rates

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Deal Summary: Share Certificate Specials – 9-month (2.00% APY), 15-month (2.50% APY), 49-month (3.00% APY), minimum $10k deposit of new money, rates guaranteed through June 30, 2022.

Availability: Easy membership requirement

For more than a year, NASA Federal Credit Union (NASA Federal) has offered month-long Share Certificate Specials (SCS). I was surprised there were no new SCS rates at the beginning of June, while so many other CD rates were increasing. As of yesterday, there are new SCS rates, albeit for a very short time.

In a Forum post, DA reader, me1004, shared an email he received from NASA Federal:

NASA FCU just sent me an e-mail saying they just hiked their rates on three CDs:

  • 48 mo, 3.00% APY
  • 15 mo, 2.50% APY
  • 9 mo, 2.00% APY

The e-mail says "hurry - this offer ends June 30, 2022." I do not take it to mean it will be eliminated on July 1, but it might be.

Yesterday’s rate increases were substantial: 40 bps for the 9-month SCS, 50 bps for the 15-month, and 55 bps for the 49-month SCS. Since the end of September 2021, the 9-month SCS has added 145 bps, with 15-month and 49-month SCS both adding 175 bps.

The minimum opening deposit for any SCS 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 June 23, 2022 and June 30, 2022. No balance cap is specified, but the Rates page does state,

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.

All three SCS are also offered as IRA SCS (Traditional and Roth), with the same APYs and with the same deposit requirements.

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 a SCS automatically renews as a standard Share Certificate (SC) at the rate in effect at the time of renewal. The 49-month SCS renews as a 48-month SC; the 15-month SCS renews as a 12-month SC; and the 9-month SCS renews as a 6-month SC. 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.

Beneficiaries

Unlimited beneficiaries (equal shares) can be named, with a Social Security number required for each beneficiary.

Availability

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: NASA Federal will provide a one-year complimentary affiliated membership in the National Space Society (NSS), which “entitles you to full NASA Federal membership.” Joining one of 14 affiliated associations also qualifies for credit union membership, but some of these associations have a fee to join, ranging from $20 to $50.

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 more than 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!

Seven NASA Federal branch lobbies are open to walk-in traffic: Maryland – Annapolis, Bowie, Columbia, Latham, Rockville, and Upper Marlboro, and Falls Church, Virginia. Two of the remaining five branch locations continue to be “Closed Until Further Notice,” while the other three are each open one day a week.

Opening a Primary Savings account with a 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 2.01% (excellent) based on March 31, 2022 data. In the past year, NASA Federal has increased its total non-brokered deposits by $307.87 million, an excellent annual growth rate of 11.52%. 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 just 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 107th largest credit union in the nation, with assets in excess of $3.7 billion and more than 207,000 members.

How the 15-Month Share Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no banks or credit unions have a higher rate than currently offered on the NASA FCU 15-month Share Certificate Special. The following table compares the 15-month Share Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
2.50%15-Month Share Certificate Special (EWP=182 days)NASA Federal Credit Union
2.50%18-Month 360 CD (EWP=180 days)Capital One
2.30%18-Month CD (EWP=180 days)Crescent Bank
2.27%20-Month Bump Up Share Certificate (EWP=90 days)Interior Federal Credit Union
2.05%18-Month Money Market Certificate (EWP=maximum 30% of maturity dividends)PenFed Credit Union

How the 9-Month Share Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the NASA FCU 9-month Share Certificate Special. The following table compares the 9-month Share Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
2.22%6-11 Month CD (EWP=90 days)Department of Commerce Federal Credit Union
2.00%9-Month Share Certificate Special (EWP=182 days)NASA Federal Credit Union
1.55%9-Month CD (EWP=30 days)TAB Bank
1.50%9-Month CD Special (EWP=50% of all future dividends)Pima Federal Credit Union
1.30%9-Month CD (EWP=68 days)TIAA Bank

How the 49-Month Share Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, only one bank has a higher rate than currently offered on the NASA FCU 49-month Share Certificate Special. The following table compares the 49-month Share Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
3.05%48-Month Popular Direct CD (EWP=365 days)Popular Direct
3.00%49-Month Share Certificate Special (EWP=365 days)NASA Federal Credit Union
2.84%48-Month CD (EWP=360 days)First Internet Bank
2.79%48-Month Share Certificate (EWP=365 days)Interior Federal Credit Union
2.66%48-Month Certificate (EWP=180 days)Connexus Credit Union

The above information and rates are accurate as of 6/24/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Washington CD rates, Baltimore CD rates, Norfolk CD rates, 1-year CD rates, 5-year CD rates, IRA CD rates, nationwide deals

Comments
Laptopuser44
  |     |   Comment #1
This is a good rate.
gregk
  |     |   Comment #7
Not in my view.
alan1
  |     |   Comment #8
The yields offered by NASA are so inferior to those available on nominal Treasuries, and on marketable CDs; this offer makes sense only for investors who, for whatever reasons, are wedded to purchasing governmentally guaranteed fixed income instruments solely from credit unions and banks.

You can easily get the federal guarantee and higher rates. Why purchase NASA CDs? I just don't get it.
niniss
  |     |   Comment #2
Hmm, should I wait or jump on this? Decisions, decisions
Choice
  |     |   Comment #3
For IRAs only mandatory/RMD have no EWP
Mak
  |     |   Comment #4
Brokered CD rates:
3 year 3.35%
4 year 3.40%
bridgeway
  |     |   Comment #5
Fidelity shows 2 year at 3.35% and 3 year at 3.45%.
Mak
  |     |   Comment #6
I show the 2 year as the same 3.35% but the 3 year 3.45% is callable.....I have too many CDs maturing over the next 2 years so I'm looking for 3 to 5 year CDS
NASA Federal Credit Union CD Special Rates Rocket Upward
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Availability: Easy membership requirement

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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