Northrop Grumman Federal Credit Union

Overview / Commentary
879 W 190th St
Gardena, CA 90248

Northrop Grumman Federal Credit Union is headquartered in Gardena and is the 38th largest credit union in the state of California. It is also the 267th largest credit union in the nation. It was established in 1946 and as of March of 2024, it had grown to 246 employees and 74,939 members at 28 locations. Northrop Grumman Federal Credit Union's CD rates are 5X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Northrop Grumman Federal Credit Union is open to anyone through membership in the Southern California Historical Aircraft Foundation(SCHAF). Membership is also open to employees of Northrop Grumman subsidiaries, except those eligible for membership in another credit union sponsored by Northrop Grumman Corporation by virtue of their employment, and to employees of Metro Los Angeles County.
See current membership details

Reviews (6)

A Way Around Membership Fee

If you join the Aviation option, it's a minimum of $50 PER YEAR as a contributor.

If you were to put $240K into a 5" year CD with them vs. 2.20% at another CU, your actual difference each year would be $94 after the $50 membership.

If you were to break the CD to go to a better rate down the road, you have to take into account this worthless contribution.

5-3-16 spoke with them today, there is a way around this $50 yearly fee, they will waive it, there's a checkbox on the application. Considering the 6 mo. EWP, this looks like one of the best bets I've seen in awhile.

Disappointed with NGFCU

Northrop Grumman Federal Credit Union was nothing like I imagined it to be. I opened a checking and savings account with them over a year ago, and to be honest I don't know why I haven't closed my accounts a long time ago. Navigating their website is not as smooth as it should be, it is very difficult to check my balance of my accounts on their website or even over the phone. Their fees seem to be higher than other credit unions I have looked into, and their customer service is not good. The last time I went to discuss a charge on my account, I was rudely interrupted by another employee running over to gossip to the woman that was helping me. They stood there for a while gossiping and ignoring me for at least 2-3 minutes.

Denied Application Based On

Posted by: |

If you're a saver with bank accounts opened in an "unspecified" amount of time elsewhere that appear as "inquiries" you might see the same denial I did based on such reasoning. Like many savers, I recently opened up a couple of new accounts in the 2-3 years before applying for membership with Northrup Grumman FCU. I pulled a copy of my report after their denial. I had ZERO adverse reportings by any institution. I was denied simply because of inquiries made at other banks (in which I actually opened accounts at). Their explanation was the "number was too high". I had like 3 other accounts opened in the past few years. This place is a joke. I was trying to open a certificate of deposit - ... here take my money and lock it up for years ... yet this is somehow shady to them? Do not waste your time or additional dings to your Chexsystems report at this institution. Look elsewhere.
They also kept my initial deposit which I had to fight to get back over the course of weeks. Stay far away from this scummy place.

Not Good For Relocation

I am a new NGC employee and have been with another Credit Union for 30 years and had a great experience. Because I moved to California from out of state, my old credit union could not write a loan for me here. I assumed the Northrop Grumman Federal Credit Union would be OK. Applied for the problem. The problem was getting them to return calls and providing information needed to complete the loan. Not until a week before the closing was I able to get calls returned from my loan officer to provide him the documents he needed. They daisy chain all their closing document requests. I spent over a week in a hotel room providing additional information. Most of the information was redundant to what I already provided. They are not staffed to do real business transactions. I was a relocation, so closing on time is a big deal. At this time it looks like we will be closing 7 days late. So, we need to provide temporary housing for my family and pets. They seem to think the closing date is a nice guideline. My relator also insists this has been the worst loan experience she has ever experienced in her 30 years in the industry. I was advised by my relocation company to go with another lender and I very truly regret not following their advise. Please do not make the same mistake I did.

Horrible And Thieves

Posted by: |

Echoing other comments here, definitely one of the shadiest banks/credit unions. They first took my money and then rejected my application as they rely on the frivolous Chex system (I guess they not want people's money). I guess the expectation is to keep your accounts for ever (so to enjoy lousy rates). Wonder how they will survive in the upcoming tough financial environment with only 1,2B in assets. May be not opening an account there was a blessing in disguise :).

The Shadiest Bank Ever

Posted by: |

Northrop Grumman Federal Credit Union is the worst bank of all time. They have the worst customer service ever. They do not deserve to have the Northrop Grumman name. I made my second to last payment on a loan last month. My receipt shows a balance of $344 and the representative told me congratulations on the remaining amount. Now, I was so excited to go pay my last payment, but they won't release my title until I pay a random $375. This amount has never shown up on any of my bills or receipts. Multiple payoff amounts have been told to us over the phone, but all of the sudden we owe a crazy payment. They are crooks and the reps don't stand by what they say. Run. Run. Run


Health Grade Components

NCUA #24292
Year Chartered1946
Primary Regulator
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD6.83%
Annual Interest Income$21MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$1.81B$1.61B
LoansQ1 2024vs Q1 2023$863.1MM$823.8MM
DepositsQ1 2024vs Q1 2023$1.39B$1.44B
Equity CapitalQ1 2024vs Q1 2023$84.3MM$76.8MM
Loan Loss AllowanceQ1 2024vs Q1 2023$10.9MM$12.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$2.9MM$1.5MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Always verify rates and promotions with the bank or credit union. We are not Northrop Grumman Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

Northrop Grumman Federal Credit Union Savings Account Rates

0.45%$100-IRA Accumulation
0.45%$100-Regular Savings
0.45%$100-Holiday Club
0.45%$5-Youth Launch Savings
0.45%$5-Youth Education Savings

Northrop Grumman Federal Credit Union Money Market Rates

1.70%$2.5k-Money Market IRA
1.70%$2.5k-Money Market

Northrop Grumman Federal Credit Union Checking Account Rates

0.05%$500-Regular Checking
0.05%$0-Youth Journey Checking

Northrop Grumman Federal Credit Union CD Rates

4.85%$40k-12 Month Bonus Term CD
4.69%$2.5k-12 Month Term CD
4.69%$250-12 Month Youth Boost CD
4.51%$40k-24 Month Bonus Term CD
4.35%$2.5k-24 Month Term CD
4.27%$40k-36 Month Bonus Term CD
4.26%$40k-60 Month Bonus Term CD
4.21%$40k-30 Month Bonus Term CD
4.21%$40k-48 Month Bonus Term CD
4.12%$40k-84 Month Bonus Term CD
4.11%$2.5k-36 Month Term CD
4.10%$2.5k-60 Month Term CD
4.06%$2.5k-30 Month Term CD
4.06%$2.5k-48 Month Term CD
3.97%$2.5k-84 Month Term CD
3.86%$40k-6 Month Bonus Term CD
3.76%$2.5k-6 Month Term CD

Northrop Grumman Federal Credit Union IRA Rates

4.85%$40k-1 Year Bonus Term IRA
4.69%$2k-1 Year Term IRA
4.51%$40k-2 Year Bonus Term IRA
4.35%$2k-2 Year Term IRA
4.27%$40k-3 Year Bonus Term IRA
4.26%$40k-5 Year Bonus Term IRA
4.21%$40k-4 Year Bonus Term IRA
4.12%$40k-7 Year Bonus Term IRA
4.11%$2k-3 Year Term IRA
4.10%$2k-5 Year Term IRA
4.06%$2k-4 Year Term IRA
3.97%$2k-7 Year Term IRA


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