Update 5/8/24: Now 5.50% on 9 month CD
Update 3/8/24: Now 5.30% on the 9 month
Update 12/24/23: New rates: 5.70% for 9 month CD, 5.45% for 15 month CD, 4.75% for a 49 month CD.
Update 6/1/23: new rates: 5.65% for a 9 month CD, 5.45% for a 15 month CD, 4.85% for a 49 month CD.
Update 5/3/23: new rates: 5.50% for a 9 month CD, 5.30% for a 15 month CD, 4.60% for a 49 month CD.
The Offer
- NASA federal credit union is offering some nice CD rates:
- 9-month CD with 3.55% APY
- 15-month CD with 3.75% APY
- 49-month CD with 3.85% APY
Anyone can join NASA credit union for no fee by joining the National Space Society.
The Fine Print
- $10,000 Minimum Deposit Required
Our Verdict
We’ve seen the credit union offer various CD specials in the past. In terms of short deposit length CDs, this is better than other options. Be aware that there will be a hard pull if you are now joining the credit union now as a new member. We’ll add this to our List of Best High Yield accounts.
Hat tip to reader Henry
got rejected opening account, both me and another family member
Were you already a member of NASA before applying for the CD?
9-month CD dropped to 5.4% now
Now only 5.3%. Maybe mark it as expired, or add an update?
Chuck
Done
Showing 5.55% APY on the 9-month CD now.
Their 9-month special rate CD requires “new” money. I have a CD with them and it’s going to expire soon, can I transfer the fund out then back in to be considered as “new” money ?
Talked to the CS and was told I have 10 days to fund the CD. The CD will be open once they see the funds in my share savings account, which I already have. I am going to deposit my check at a local CU which has a share branch agreement. It took me a long time to open an account last year but the rates were guaranteed even after more than month. I am very happy with the CU.
Funny, I was told:
You may open and fund your account at anytime, NASA FCU considers new deposits “new” for 30 days.
I was also told during a chat that you have 15 days
They are all over the place so I wouldn’t wait long to fund it.
Do they hard pull again for an existing member to open a CD?
NO
Does anyone know if the 5.70% certificate is allowed to have multiple deposits into the same certificate, or is it a one and done deposit?
I just got through to customer support and they said it’s just a single deposit.
Just got the savings and checking account approved today and when I login to my account to open the certificate I get the following message:
“There are no products available for you to open at this time. This can be due to funding requirements to open products or other restrictions. For more information, please visit our website for more information on minimums and current rates”.
Anyone run across why that is?
You can only fund CDs from your own NASA account, so you need to put $10k in savings or checking first.
New funds pushed in are usually available instantly for CD purchase. But that may not be true for a new member.
The funds you deposit are considered “new money” (i.e., eligible for the special CD rates) for 30 days.
Interestingly, NASA credit cards show as valid funding sources too! But I’ve never tried it. I mean, NO WAY that’s not going to post as a cash advance, right??? It would be fun to try though.
Thanks for the info. Hope they extend the 5.7% 9 month certificate past 12/31 since that is one of the main reasons I joined this credit union (along with the more recent $300 checking bonus).
That is interesting, as it conflicts with what they say about “A minimum of $10,000 of new funds brought from an external source required to open all special certificates.”
TLDR:
The funds are considered new for 30 days, and it’s the only way to do it.
The first time I bought a NASA CD I had to call and ask how to fund it with “new money” because there was no option to use an external source.
I was told there’s no other way to do it, you have to deposit the funds first. Then I asked for confirmation the deposit would be usable toward a special certificate. I was told “deposits are considered new money for 30 days.”
The good news is, the deposit has always been available for purchasing a CD immediately the day it arrived. So no extra opportunity cost and you get the current rate.
I’ve done this multiple times since last spring and it’s always worked – instant approval and instant transfer from NASA share/checking.
YMMV with instant availability for new members (I’ve been a long time member).
Thanks for sharing your experience. I just meant to say their language is very misleading. If deposits are considered new money for 30 days, then an existing customer with money sitting in their account for more than 30 days cannot use that money to open the special CD (or are restricted to open regular CDs), it is interesting that their system is coded in that way to be able to distinguish and handle the different cases.
“Special 9-month Certificate renews automatically to a standard 6-month term at the rate in effect at the time of renewal unless instructed otherwise.” In your experience, what is the easiest way to cancel the auto-renewal with NASA FCU? Will a simple secure message do? @K
Karl
It would save them a lot of messages and phone calls to clarify the language. But CUs will be CUs.
SM is easiest way to cancel and they almost always respond by the next business day (except during the current feeding frenzy haha).
If you want a new special certificate when the old one matures it seems prudent to buy the new one a few days before maturity if you can. I.e., push in another $10k+ and buy the new CD before you withdraw the “old” money.
Maybe not necessary but that’s how I’ve done it because I thought pulling out funds might start a new clock or something. Probably better not to ask.
In the new website you can switch the auto renewal to “transfer” online, and select “share savings”!
Maybe better not to though because you need to remember that date anyway and pull it out fast.
That’s convenient! Thank you,
Karl
Just got off of chat with them and I was told that certificates can be opened over the phone or by chat and the money doesn’t have to be in your existing account, that we have 15 days to fund it after opening so another discrepancy to deal with.
I would try that for sure! If it works you lock in the 5.7%. If not you can still try the old way.
Their special certificate offers went up and down all through 2023. The 5.7% rate probably won’t last long.
Yeah, if I have the time to spend over an hour on hold (and then get disconnected before speaking to anyone) or an hour waiting for someone on chat (and again run the chance of getting a notice no one’s available, try again).
Haha, well you might as well push $10k+ to your checking account ASAP anyway.
It’s unbelievably easy to open a certificate online once the funds are in a NASA account. No humans involved!
Plus, it will probably count as a DD…
For future reference, I just cycled one in December this way:
I did a lose couple day’s interest on the overlap.
The “extra” $10k for the overlap comes from laddering CDs between different institutions to keep the funds ‘new.’
Well you seem to have answered the question about funds being in your checking account and they still count as “new money” for opening the certificates.
Don’t know why NASA reps have a hard time articulating that. I finally got a response from an SM I sent last week asking them about that and after two back and forth messages, they still didn’t answer that question for me.
And they even said that if the certificate were open via chat or over the phone, I’d only have 10 days to fund it, not the 15 days the chat rep told me so another discrepancy.
Don’t know if I want to put more money into this CU, might just do the checking bonus and run away into the night…
One caveat:
I only asked about the longevity of ‘new money’ once, last spring, and I was told 30 days. I assume that’s (still) true. But I have no empirical evidence the funds stay ‘new’ for more than a couple of business days.
I mean, savings pays 0.10% so who would ever test this?
It’s worked over half a dozen times but I always bought the CD within 0-2 business days of the funds posting.
And I’ve never tried pulling out older funds between depositing $10k+ and buying the new CD. To any normal banker that would be an invitation to invent a FIFO rule.
That’s one of the things that went unanswered in my last correspondence with them. I just send another to see if I can get a definite answer to that question, how long that money is still considered “new money”.’
Will see if that gets me an answer.
Finally got a direct answer back:
You may open and fund your account at anytime.
NASA FCU considers new deposits “new” for 30 days.
It is also very easy for the new account holder. I am able to purchase the CD the same day money showed up in my brand new checking account. Thanks for the information.
Pushed $10k+ to share account => bought CD same day funds arrived.
Instant approval as usual, took about a minute.
Love this CU.
Did they pull Chex?
No.
These guys are probably as good with running a credit union as they are building rockets right?
“A minimum of $10,000 of new funds brought from an external source required to open all special certificates.”
Rate is 5.70% for the 9 month.