NASA - How Many Days To Fund CD?

CDmanFL | Feb 8, 2023 | 286 posts since 2019

I would like to become a member of NASA and open a CD. When I apply for membership online, do I have the ability to lock the rate while they process my application (they said it could take 2 weeks)? Also, once they approve my application, how long do I have before I must fund the CD? Thanks

Post an answer

Answers

sams1985 | Feb 8, 2023 | 781 posts since 2022

My application has been under “referred “ status for about a week now. Every day they ask me to upload a missing ID and everyday I go on and upload it. They haven’t responded to my email inquiry yet.

CDmanFL | Feb 8, 2023 | 286 posts since 2019

Thanks Sam. Are they holding the rate for you? Or is it subject to change?

sams1985 | Feb 8, 2023 | 781 posts since 2022

Don't think so since my application has not technically been approved.

GH1 | Feb 8, 2023 | 1,054 posts since 2017

Sam mine went super smooth. What I did inmobike deposit a check and though it was not cleared. I called said that deposit was for cd no problem they moved funds even under clearing period for cd. Maybe they swamped again . Just call get them on the phone. Very good people so far

Steve58 | Feb 11, 2023 | 459 posts since 2018

Sam and CD Man,
I opened the NASA 49 month CD at the end of January. It went through just fine in 24 hours but I did have one issue. You have to apply for a savings account with $5 at the same time you apply for the CD account. They gave me two options to pay the $5, mail in a check or fund it with credit card. I chose the credit card. Early the next morning (Saturday, Jan 29) I got a message from my bank denying a charge for $5. I looked and it was the charge from NASA FCU. So I called them that Saturday morning and had no issues getting a hold of someone (may have been on hold for a while). I was concerned that the 49 MONTH 4.75% CD had to be funded by Jan 31st according to their website and would be going away. They told me that I had 10 days to fund it to guarantee that rate. They approved the savings account and gave me the information to create my online account. They told me to go to a COOP branch here in AZ to fund the accounts. I found one open on Saturday, so I went there and wrote a personal check for $50,005 to put in my new savings account. It was shown in my online account when I got home that day but was showing a hold on the funds and I could not transfer the 50k to the CD.

So when the check eventually cleared on Wednesday in my bank account, I went to NASA online to transfer funds to my CD but it was still showing on hold. So I called again on Feb 1st and they moved the funds for me into the CD from the savings account. Probably on hold for 30 minutes.

I guess my recommendation is if you are having issues is to call them 301-249-1800. They are busy but they update you continuously as to how many callers are ahead of you while on hold and they were friendly and quite helpful in getting past hurdles.

Seems my concern was unnecessary as the 48 month CD is still available now through Feb.

Good luck,
Steve

nored | Feb 8, 2023 | 32 posts since 2018

Sam1985. I would call the CD Dept. Ask for their ext#. They are ALL so ready t o assist, very professional group! My personal experience with them has been nothing short of perfect.

SamFam | Feb 8, 2023 | 34 posts since 2020

Agree! The staff is professional and well educated. It's a great place to park some pennies.

SamFam | Feb 8, 2023 | 34 posts since 2020

Most likely their rate will still be the same in two weeks. I have an IRA CD maturing later this month at another institution. I was told by NASA's IRA department that once they receive my application to transfer the CD to them, indicating I want the 49m CD, the rate of 4.75% APY is locked even though it can take another 10 days or so from the the date of maturity for them to receive the funds from the other bank.

happyharold4 | Feb 9, 2023 | 388 posts since 2022

I agree with the comments about their professionalism. I'm opening an IRA and it has to be notarized and wet signed and snail mailed due to my banks requirements. But my csr said none of their rates are guaranteed and it's in the fine print they reserve the right to change at their discretion.

Marfa | Feb 8, 2023 | 68 posts since 2022

If you can go to a shared branch ,you can deposit a check covering your initial membership fee and any additional amount to fund a cd. I opened my account online quickly and the cd the same day. Afterwards you can open additional cds online under their services tab after your funds arrive from an ACH. I set up an external bank link from the external bank to nasa after opening my account to fund any additional cds.Thankfully , I haven’t had any issues and I hope this helps.

happyharold4 | Feb 9, 2023 | 388 posts since 2022

No---They won't lock in a rate. The new rates say from 2/1-2/28, but csr says they reserve the right to change without notice. Be prepared as I think they have a glitch in the sign up software. After filling out the app and adding a pic of Dr license, everyday for a week I got new emails saying One item left to do with a link to add my ID. Uploaded it at least 4 times and then finally called to straighten out. Very good csr and they answer your emails too.

md2121 | Feb 16, 2023 | 9 posts since 2022

Members have 10 calendar days from opening date to fund a Special Certificate. If the CD is not funded within the stipulated time the system will automatically close that CD and a new one would need to be open. Promotional Cd's can only be funded once after its opened, you should have the desired amount of funds available in your savings account

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.