Navy Federal Credit Union is holding its first Member Appreciation Week. I first heard news about this promotion earlier this month. The details are finally available. There aren't any hot deals, but there are a couple decent deals.
First, there's a Celebration Special Certificate with a 4.00% APY for a term of 12 months. Maximum balance is $4,000. Minimum deposit is $25. Additional deposits are allowed. It is not available for purchase online. If you deposit $4,000, you'll earn about $160 in 12 months. That's about $120 more than you can earn with a 1% savings account.
Second, there's a $40 refer-a-friend bonus. When you get your eligible friends and family to join, and you'll each get $40. There's a limit of 10 referrals per member.
There's also an auto loan refinance special. If you bring your auto loan to Navy Federal, you'll receive $400. I don't know how its auto loan rates compare with other credit unions and banks.
Full details of these specials are listed in Navy Federal Members Appreciation Week page. Offers are only available from September 17-23, 2012. Thanks to DA member pearlbrown who posted on this promotion in this forum thread.
The rates of Navy Federal's standard CDs remain the same. Some are still competitive. The best standard rates include a 2.15% APY 7-year CD and a 2.00% APY 6-year CD. These are the Jumbo rates that require a $100K minimum deposit. These rates are listed at the credit union's rates page as of 9/17/2012.
I have more details about Navy Federal and its CDs in my recent Navy Federal CD review.
Unlike PenFed, there's no association that can be joined to qualify for Navy Federal membership. To be eligible to join Navy Federal, you must have some connection with the military. This includes Navy, Army, Marine Corps and Air Force. Please refer to their Eligibility Checklist for the full details.
Navy Federal Overview
Navy Federal Credit Union branches are located around the US and the world.
Navy Federal is the largest credit union in the nation with $48.02 billion in assets and $35.63 billion in deposits. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 7.67% (excellent) based on March 2012 data. Please refer to our financial overview of Navy Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 5536).
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.