NASA FCU Adds 11-Month Share Certificate Special
At the beginning of the year, I wrote about NASA Federal Credit Union's (NASA FCU) limited-time rates on its 49-month Share Certificate Special (2.40% APY) and 15-month Share Certificate Special (1.95% APY). Good news – those rates are still in effect.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 2.40% | $5k | - | NASA Federal Credit Union | 49 Months Share Certificate Special (New Money) | |
| 1.95% | $5k | - | NASA Federal Credit Union | 15 Months Share Certificate Special (New Money) |
NASA FCU has just added a new 11-month Share Certificate Special (SCS) that earns 2.25% APY. The minimum opening deposit is $20k of new money. The 11-month SCS is also offered as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.
While there is no stated maximum deposit balance, the fine print reads:
Credit Union reserves the right to limit deposits into this special certificate.
Like the 15- and 49-month SCS, the 11-month SCS only requires a specific minimum amount of new money. In a Live Chat today, CSR stated,
You can deposit $20k new money from an external account and combine it with existing funds in a NASA account. Only at least $20k has to be deposited as "New money."
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.
Thanks to DA reader, ChasR, for his Forum post about this new hot deal.
Availability
Headquartered in Upper Marlboro, Maryland, NASA Federal Credit Union offers membership to virtually anyone, with several ways to qualify:
Easy Membership: Membership in one of 14 affiliated associations, including a complimentary membership to the National Space Society (NSS), qualifies for Credit Union membership.
Employment: Employee or retiree of NASA Headquarters, any NASA Center or Facility, or NAS are eligible for membership. In addition, any employee or member of one of 900+ NASA Federal Credit Union partner companies also qualify for membership.
Relationship: Relatives or household members of current NASA FCU members are eligible for membership.
Joining NASA FCU and/or opening a Share Certificate can be done online, or by visiting any of twelve branches located in Maryland (Annapolis, Bowie, Columbia, Greenbelt, Greenbelt-Lanham, Rockville, Upper Marlboro), Virginia (Falls Church, Oak Hall, Wallops Island), and the District of Columbia (2).
Three of the branch locations (the Goddard Space Flight Center Branch, the National Academy of Science Branch, and the GSFU-Wallops Flight Facility) have restricted assess status (employees only), but NASA FCU is a member of the CO-OP Shared Branch network, giving NASA FCU members an additional 120+ locations in the Washington metro area to conduct many business transactions.
Credit Union Overview
NASA Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.92% (excellent) based on September 30, 2017 data. In the past year, NASA FCU has increased its total non-brokered deposits by $191.16 million, an excellent annual growth rate of 12.16%. 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 employees received approval for a credit union charter to begin serving employees of NASA. Today, NASA Federal Credit Union is the third largest credit union headquartered in Maryland and the 104th largest credit union in the nation, with assets in excess of $2.2 billion and more than 149,000 members.
How the Share Certificate Special Compares
When compared to the 215 similar length-of-term CDs tracked by DepositAccounts.com, that are nationally available and require a minimum deposit of $20k or less, NASA Federal Credit Union's 11-month Share Certificate Special APY currently ranks first.
The above rates are accurate as of 2/15/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
(v) Limitations on Dollar Amounts for Transfers.
• One-time transfers, scheduled, and recurring transfers between accounts within NASA Federal Credit Union can be for any amount between $.01 and $9,999,999.99, but not more than the available share balance in the “transfer from” account.
• Transfers to another institution are limited to $10,000.00 per day, but not more than the available share balance, including any overdraft protection limits that apply to the “transfer from” account.
Live Oak has the best opening process. If you do before 4 PM they pull the funds the same night and your account is all set the next business day
Pain to join a credit union and the stupid $5 in a share account
Almost always a pain to open an account with a new institution. Already have account with NASA. Called them and account was opened in 10 seconds. Prefer ACH but mailed check. They opened the account 2/15 and I have 10 days to fund the account.
1) They do a hard pull when setting up a new membership.
2) You need to fund the CD within 10 days of opening.
3) The 11 month 2.25% CD special is to run till end of March.
Has anyone gotten similar answers?
"including a complimentary membership to the National Space Society".
This deal seems hard to pass up.
I want to leave a check at a shared branch credit union but it does not say I can or cant do that.
And it did not give me an account number and Im sure Im going to need that.
Really rather not have to spend a stamp.
I opened a $50k 11 month 2.25% and $5 for the required savings. It did not mention anything about the membership other than they give me the comped one.
===================
Thank You
Your NASA Federal Membership application was successfully submitted and is currently under review. If we require more information, we will contact you. Once your application has been processed, you will be notified by email.
Thank you for choosing NASA Federal. We look forward to serving your financial needs.
Check the status of your appplication, upload requested documents or contact a Member Services Representative anytime by visiting
Check Status
Mailing a check to fund your account? Please send the check to:
NASA Federal Credit Union
P.O. Box 1910
Bowie, MD 20717-1910
How often do scammers try to deposit $50k in someone else's name?
Because Id be ok with scammers doing that for me.
share savings acct no., as you note. In-person CO-OP deposits generally 'complete' very fast!
However, I'm not sure you can deposit directly to a CD that way. It's possible you might need to
contact NASA to request funds be moved to the CD once the funds are in primary savings.
I haven't seen it in over a decade.
So I'm unclear if I'm ok to deposit to a shared branch or not.
However, if final approval status is still pending, as you seem to indicate, it sounds like there's a
possibility you could be in a 'limbo state' with someone waiting for you to upload SS copy to
proceed further.
If you don't hear anything more shortly, I'd probably give them a call to check status.
If they really do need the SS card, and you can't locate it, an alternative secondary ID,
such as a passport, or maybe some proof of residence, for example, might be accepted.
You'll have to inquire!
If you get past this hurdle and actually complete the shared branch deposit, definitely give
them a call afterwards to confirm funds get properly moved into the CD!
They never did answer me on the darn SS Card. Only issue I had was I stupidly transposed my account number when I wrote it down so I had to call them at a local shared branch.
I confirmed there is no ACH out limit so if when it expires I want to take it out of there, I can just ACH it out via Ally. Well, if I can find their routing number and I set it up.
Considering opening another large one just to get myself below the FDIC limit at Ally.
Their 49 month rate is nothing to write home about.
I forgot to ask about a beneficiary. It did not ask when I opened it.
If anyone knows how to add them and has the routing number, please advice.
If I end up calling, I will post it here.
No mention anywhere on the application regarding the complimentary space station group or whatever.
I hope I don't regret it.
This will put me well below the limit again at Ally. But Ive got more CDs maturing in a month and 2 months and 5 months. I have WAY too much cash lying around for my age. 56.
I keep hoping for a big market correction and it just does not seem to be coming. My SO has come down some and I added a little there.
But by and large, Im just unwilling to invest a lot in stocks at current valuations.
Im even holding a couple that I might otherwise sell just because I want to defer taking the gain for as long as possible.
One of them, Im pushing the company to increase the dividend and I think they will. But it already yields 2% and they could go to 3-3.5% easy if they wanted. They probably just go up to 2.5-2.75%.