NASA Fed Credit Union 9-Mo Share Certificate Special Rate Climbs Upward

After significantly dropping its Share Certificate Specials (SCS) rates in September, Maryland-based NASA Federal Credit Union (NASA Federal) began improving the APYs in November. The 9-month SCS has the most competitive rate (5.70% APY), following the addition of 75 bps in the past six weeks. The 15-month SCS current 5.45% APY equals the rate offered this summer, while the 49-month SCS (4.75% APY) currently lags behind the rate-leading 4-year CD by 45 bps.

The minimum opening deposit for any SCS is $10k of new money, which is defined in the fine print on the Share Certificate Rates page as, “new funds brought from an external source.” No balance cap is specified, but the Rates page does provide this warning,

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), earning the same APYs with the same deposit requirements.

Early Withdrawal Penalty

As stated in the Certificate Terms and Conditions document, the Early Withdrawal Penalty reads as follows:

Certificates with terms up to 24 Months: Withdrawal of principal funds from your certificate account before maturity will result in the loss of 182 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the account for less than 182 days, the loss of all dividends on the amount withdrawn.

Certificates with terms greater than 24 months: Withdrawal of principal funds from your certificate account before maturity will result in the loss of 365 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the account for less than 365 days, the loss of all dividends on the amount withdrawn.

If the funds withdrawn bring the balance below the required minimum, the certificate must be redeemed and dividends will be forfeited, in accordance with the term of the certificate.

Availability

Headquartered in Upper Marlboro, Maryland, NASA Federal Credit Union’s field of membership (FOM) offers a way to qualify for virtually any U.S. citizen/resident:

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).

Account Opening

Joining NASA Federal and/or opening a Share Certificate Special can be done online or at any of 11 full-service NASA Federal branches located in Maryland (6), Virginia (3), and Washington, D.C. (2). The Goddard Space Flight Center branch in Greenbelt, Maryland is “Closed Until Further Notice,” while the two DC branches, the Alexandria (VA), and the Arlington (VA) branch locations each open one or two days 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.

Funding and Other Details

The following information is from the Certificate Terms & Conditions document and a conversation with CSR.

• Funding – ACH, wire, or CO-OP shared branch transfer. Must be funded within ten days of opening, with rate locked in during that time.
• CO-OP Shared Branch Participate – Yes.
• Ownership – Individual, joint, or trust.
• Maturing Funds – Distributed by check, wire, or transferred into an existing NASA Federal checking or savings account.
• Dividends – Compounded/credited monthly and can be withdrawn without penalty.
• Grace Period – 10 calendar days before automatic renewal as a standard certificate. (9-month SCS renews as a 6-month SC; 15-month SCS renews as a 12-month SC; 49-month SCS renews as a 48-month SC.)
• Beneficiaries – Unlimited, equal shares, Social Security numbers required.
• Credit Check – Soft pull.

Credit Union Overview

NASA Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.45% (excellent) based on June 30, 2023 data. In the past year, NASA Federal has increased its total non-brokered deposits by $1.03 billion, an excellent annual growth rate of 34.59%. 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. With a mission to help its members achieve a brighter financial future, NASA FCU is actively (and literally) involved in building the community.

In 2022, NASA Federal Credit Union was responsible for more than $889 million in innovative mortgage products designed for homebuyers with little or no down payment, including first-time homebuyers, conforming and jumbo first mortgages, fixed rate seconds and home equity lines of credit.

NASA FCU is currently the second largest credit union headquartered in Maryland and the 69^th largest credit union in the nation, with assets in excess of $5.1 billion and more than 236,000 members.

How the 9-Month Share Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that available nationally and have minimum deposit requirements of $10k or less, two banks and one credit union have higher rates 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.

The above information and rates are accurate as of 12/8/2023.

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