Availability:Residents of Virginia Beach and Norfolk, Virginia, and Accomack and Northampton Counties, Virginia.
NMA Federal Credit Union (NMA) is offering a 12-month CD Special (1.55% APY). The minimum opening deposit is $10K of new money, with no maximum balance cap.
The 12-month CD Special is a limited time offer, but no specific end date is listed on the NMA’s website.
As stated on NMA’s Savings Rates page, the Early Withdrawal Penalty reads as follows:
Term of 12 or more months - 180 days dividends earned or unearned.
Headquartered in Virginia Beach, NMA Federal Credit Union offers membership to individuals (and their families) who live, work, or worship in the Virginia cities of Virginia Beach and Norfolk, and the Virginia counties of Accomack and Northampton.
Membership is also open to military and civilian employees (and their families) employed by the Navy Region Mid-Atlantic, which is the Credit Union’s core sponsor.
Joining NMA and/or opening the 12-month CD Special requires an in-person visit to any of seven Virginia branches located in Cape Charles, Emporia, Exmore, Melfa, Parksley, and Virginia Beach (2). NMA’s website also offers a Contact Us form to initiate the application process, but at this time, NMA’s online banking platform is limited to account management and bill payments.
Credit Union Overview
NMA Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 9.96% (excellent) based on March 31, 2015 data. In the past year, NMA has increased its total deposits by $1.44 Million, an above average annual growth rate of 2.71%. Please refer to our financial overview of NMA Federal Credit Union for more details.
Originally chartered as the Navy Public Works Center Federal Credit Union in 1960, the Credit Union had no permanent home until an office was opened on the Norfolk Naval Base in 1968. In the past 55 years, NMA Federal Credit Union (NCUA Charter # 13491) has seen three name changes and an expansion in its field of membership. Currently NMA serves over 7,500 members with assets in excess of $60 Million.
How the CD Compares
When compared to the 240 similar length-of-term CDs tracked by DepositAccounts.com that are available to Virginia residents, NMA Federal Credit Union's 12-month CD Special’s APY ranks first, regardless of minimum deposit.
The above rates are accurate as of 7/22/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.