Posted by William Charles on September 6, 2018
Savings Accounts

Published on September 6th, 2018 | by William Charles

41

NASA FCU 2.75% APY 15-Month CD [Nationwide]

Deal has been reduced to 2.75%.

The Offer

Direct Link to offer (one of the rotating banner offers)

  • NASA federal credit union is offering 3.25% APY on an 15-month CD
  • They also have 3.35% APY on a 49 month CD

The Fine Print

  • $5,000 Minimum Deposit Required
  • Early withdrawal penalty is 182 days of interest

Our Verdict

Anyone can join NASA credit union for no fee by joining the National Space Society. Back in March they offered an 11 month CD with a 2.25% rate, this new 15 month offer is significantly better. In terms of short deposit length CDs, this is better than other options (next best is at 2.6%). Just be aware that most credit unions do a hard credit check when you join, so there’s likely to be one here as well.

Hat tip to reader Charles Mann



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David
David

The direct link isn’t working

John
John

Agreed. I wonder what the issue is…?

Gabriel the Angel
Gabriel the Angel

If you apply online, they require uploads of your drivers license and social security card.

Josh
Josh

Early withdrawal penalty is 182 days of dividends FYI

Lakshmi Sing
Lakshmi Sing

https://www.nasafcu.com/pdf/CertificateTerms.pdf

Early Withdrawal Penalties. Withdrawal of funds from your certificate account before maturity
will result in the loss of 180 days* of dividends on the amount withdrawn. If the funds withdrawn
bring the balance below the required minimum, the certificate must be redeemed and 180 days* of
dividends will be forfeited. If the amount withdrawn has been in the account less than 180 days,*
all dividends on the amount withdrawn will be forfeited, and if the term of the certificate is under
180 days,* the penalty is no dividends. Penalties shall not be applied if the withdrawal is made: (1)
subsequent to the death of any owner of the certificate account; or (2) as a result of the voluntary
or involuntary liquidation of the Credit Union; or (3) pursuant to a mandatory (automated)
withdrawal of an Individual Retirement Account (IRA) required minimum distribution (RMD). There
are no penalties for withdrawing dividends paid on the account. Upon renewal only the dividends
earned after the renewal date are available for withdrawal without penalty.
*182 days for certificate accounts with terms up to 24 months and 365 days for certificate
accounts with terms greater than 24 months (effective for new certificates and certificate
renewals on and after November 1, 2016).

Enrico
Enrico
Etreju
Etreju

They recently me targeted for a $125 checking bonus, too. ($500 monthly DD or 3 monthly bill pays w/in 60 days, expires 10/31, no idea re Chex, etc.)

Eric M.
Eric M.

Is there a link associated with the bonus or in branch only?

Etreju
Etreju

It was just an email (Etreju, there is still time to get $125!*) with a promo code. I opened a savings account with them ages ago to get their (later nerfed) 2% cash back card. I am way outside of there area; I just donated to the National Space Society to qualify.

Eric M.
Eric M.

Got it. Seems like it’s only targeted for those with accounts and I found a link but it requires a promo code.

David
David

I would do this if they had a checking account promotion to go with it. While the CD Rates are nice, I can’t justify going through the approval process + Hard inquiry for it….

Plus with more fed rate hikes, CD rates will likely only go higher.

Shirley
Shirley

Called them and CSR stated that they do a hard pull from Experian when opening an account.

J Bone
J Bone

Aryanna in NASA FCU web chat says there is no maximum on these CDs.

lilurbanachiever
lilurbanachiever

Cool rate. Not so great feedback on their customer service though, https://www.depositaccounts.com/banks/reviews/nasa-federal-credit-union.html

Steve
Steve

Thanks, not worth the trouble.

Dan Thomas
Dan Thomas

I get 3.33% from Heritage Bank for a checking account. I don’t see the point of locking up my money in a CD for 3.25%

jack
jack

Heritage has a max of $25k

Erik
Erik

You can open up a 2nd account which makes it 50k. You just have to juggle the requirements but with Amazon reloads not too hard.

Stan
Stan

Can a 2nd account be under my name?

John
John

What if you’re self employed? The sign up is saying that we have to have a direct deposit savings account to join……? I don’t do direct deposit, so how can I take advantage of this? Any suggestions? Thank you for your time everyone.

Nina
Nina

3.25% is a great rate for a short term CD but so many hoops to jump through. Join the National Space Society. Establish a primary savings account – including setting up a direct deposit. Then open the CD. Compared with a 2.4% CD from Capital One, thats about an extra $85 per 10K deposited. Life’s too short.

lilurbanachiever
lilurbanachiever

They are also asking for notarized copies of your SS card and DL. And they have a bunch of hidden fees. I am still tempted but not that much.

Shiva Singh
Shiva Singh

Not for me. When was your last chex?

Mike
Mike

Does setting up a direct deposit necessary? I don’t see any monthly fee for any of the accounts.

Johnz
Johnz

I wanted to avoid the 630 debit purchases and monthly hoops that 4 of my 3% Rewards Checking accounts would require during the next 15 months so I put their money into 4 NASA FCU 3.25% 15-month CDs. My NASA FCU experience was easy and pleasant. I got online account access same day I applied and thanks to NASA FCU participating in co-op shared branches I opened and funded two 15-month CDs the next day and two more a day later (funds moved as fast as a wire transfer but free!). If I’d known earlier about moving funds at a shared branch I could have opened and funded the first two CD’s on the day I applied and had my NASA member number. Unlike some others’ comments here I had no ‘hoops to jump through’, the NASA FCU free Savings account does not require direct deposit, I wasn’t asked for notarized copies of SS card and DL, no hidden fees ( https://www.nasafcu.com/schedule-of-fees/ ), good Customer Service. The online application process took my info, gave me free complimentary membership to the National Space Society, let me upload my DL and a current address docs, approved me and gave me my Savings account/member number which I used to immediately enroll in online banking access. Credit Card funding: Application option allows initial funding of Savings via credit card up to $500 so I did $500 on Citi Double Cash to get $10 back (2%) to cover the $5 that must stay in Savings while I’m a member. One method to fund these ‘new funds’ 15-month CDs is from new funds deposited to your NASA Savings where it’s considered new funds for 30 days. I initially planned to use ACH to push my Rewards accounts’ funds into Savings but because of a comment I looked into co-op shared branches and used that to move the funds much faster than ACH. NASA FCU participates in co-op shared branching (see links below), so instead of using ACH I used a participating local credit unions’s branch office (I’m not a member of it) to instantly (and free) transfer my funds from two other participating CUs into my NASA FCU Savings account. Then I called NASA customer service and had them open 15-month CDs with those funds. Much quicker than defining and verifying NASA FCU as an external account to Ally, ACH the funds to Ally and then… Read more »

Shiva Singh
Shiva Singh

Shared branch tip in progress.

They will refuse to process the credit card you entered during signup unless you pay a $10 fee. Check or money order only according to the dept. that processes applications.

Might still make sense for a sign up bonus but dont expect this to be automatic and hands off MS.

Rest of the process happened smoothly. No notarized copies needed.

My share account is at a -5 and I set up an external account link to my Ally bank which has the funds to open the CD.

Will pull in $220k first week of Oct.

Did not see any pull limits – did I miss it?

They verified that my checking accounts wont be charged a fee for Sept since I signed up late in the month

No hard pull yet.

Was speaking with a courteous CSR within 30 secs of entering my member number. There were 15+ min waits when I was not a member

Johnz
Johnz

Unlikely you can pull in $220K first week of Oct: new customers limited to $500/day first 90 days. then $10K/day and $50K/rolling-30-days.

Johnz
Johnz

Been over 2 weeks since I joined the credit union and no sign of a hard pull as some reported. Nether credit.com nor creditKarma has reported a new hard pull inquiry.

Shiva Singh
Shiva Singh

Do you have a way to check for soft pulls?

Johnz
Johnz

I see them on my Chex reports

Shiva Singh
Shiva Singh

Did you order the paper copies or is there an electronic way of getting it?

Also, it’s 1 per rolling 12 month period, right? (Chex)

Johnz
Johnz

I did Chex paper. I’m ignorant of electronic means.

Shiva Singh
Shiva Singh

Shoot they pulled this offer for a lower 2.75% :'(

Will calling them and asking to match the previous month’s offer work?

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