Review
Updated
Fact Checked
Ashley Maready
NASA Federal Credit Union is a national credit union that serves over 200,000 members nationwide, and not just NASA employees. The credit union offers a wide variety of banking products and services, including some of the highest-yielding CDs on our radar. Read our full review to see if NASA Federal Credit Union could be a good fit for you.
NASA Federal Credit Union
Bottom Line
NASA Federal Credit Union is a standout when it comes to CDs, credit cards, and mortgages, but its savings accounts don't quite measure up to online competitors. Even so, if you're looking for an all-in-one banking solution, NASA FCU could be a solid choice.
Pros
- Excellent CD (share certificate) products
- Unique low-interest credit cards
- Great mortgage for first-time home buyers
- Excellent checking account for high balance customers
Cons
- Savings accounts aren't competitive
NASA Federal Credit Union savings account
NASA Federal Credit Union offers savings and money market accounts, so let's look at how they stack up.
NASA Federal Credit Union Prime Savings
NASA Federal Credit Union's main savings account is known as the Prime Savings. There are a few other specialized savings account products, such as an account designed to save for the holidays, but this is the bank's general savings account.
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Ratings Methodology
Rates as
of Apr 26, 2024
NASA Federal Credit Union Prime Savings
Federally insured by NCUA.
APY
0.10%
Min. To Earn APY
$0.01
- $5 minimum balance requirement
- No monthly maintenance fees
- Lots of branches and ATM locations
- Low interest rates
NASA Federal Credit Union's main savings account is known as the Prime Savings. It can be opened with as little as $5 and has no monthly maintenance fees; however its interest rates aren't competitive with most online-based high-yield savings accounts, or even with some other brick-and-mortar credit unions.
NASA Federal Credit Union Money Market Accounts
NASA Federal Credit Union also offers money market accounts (MMAs). Technically, this is a different type of bank account, but it can allow savers with higher balances to get better interest rates.
The credit union currently offers three different MMAs, the Premier Money Market, the Premier Advantage Money Market, and the Premier Plus Money Market. Each of these accounts differs in minimum deposit requirements and APY on offer. The Premier Money Market has a minimum opening deposit of $10,000 and average daily balances of $10,000 and up earn a set APY. The Premier Advantage requires $25,000 to open and has three tiers of APY depending on your average daily balance. You must have a minimum opening deposit of $40,000 to open the Premier Plus, and average daily balances of that amount and higher earn a set APY.
Be sure to check NASA FCU's website for current rates and conditions if you're interested in one of these money market accounts.
High-yield savings account comparison
We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
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| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
|
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.05% APY for balances of $5,000 or more
Rate info
5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
|
N/A
|
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.35%
Min. to earn: $0
|
New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.
|
NASA Federal Credit Union CD accounts
NASA Federal Credit Union offers five different types of CDs, which in credit union terms are referred to as share certificates. Both have competitive yields. To be clear, share certificates are an area where NASA FCU shines.
Share Certificates
NASA FCU's share certificates come in a variety of maturity terms ranging from six months to five years. They require a $1,000 minimum deposit to open, and the bank allows depositors to withdraw the interest they're paid at any time without penalty (Note: This is true for all five types of share certificates.)
NASA FCU's share certificate yields are highly competitive, even with online banks.
High-Yield Certificates
NASA FCU offers share certificates in three maturity terms (nine months, 15 months, and 49 months) that offer higher yields than the credit union's other CDs of comparable maturities. The biggest drawback is that the high-yield certificates have a much higher $10,000 minimum deposit requirement, but for savers who have enough cash to open one, these are very competitive time deposit products.
Premier Bump-Rate Certificates
NASA FCU offers Bump-Rate Certificates in 24- and 36-month terms that allow for a one-time interest rate increase request during the term. Think of these as insurance against rising interest rates. For example, if you open a Bump-Rate certificate with a 4% yield and a year later, NASA FCU is advertising a 6% rate, you can request a one-time adjustment.
Add-On Certificates
Most other CDs and certificates offered by banks and credit unions don't allow for additional contributions during the term, which is what makes NASA FCU's Add-On Certificates such a unique product. These 1-year certificates have high yields and a $250 minimum opening deposit, and savers can add up to $2,500 per month during the term.
Early Savers Certificates
While the bank's other certificates have minimum deposit requirements of $1,000 or more, NASA FCU offers certificates with a minimum $50 opening requirement to members age 23 and younger. These are only offered in one-year terms, but pay competitive interest rates and have the unique feature that account holders can make additional contributions at any time during the term.
While NASA FCU share certificates are generally competitive, be sure to check the bank's website for current offer details.
Compare CD rates
NASA Federal Credit Union's CD rates are highly competitive, especially when it comes to its high-yield certificates. However, all of its CD products have yields comparable to the top online banks, and there aren't many other banks or credit unions that offer as many unique certificates.
Rates as of April 25, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
NASA Federal Credit Union checking accounts
NASA Federal Credit Union offers three main types of checking accounts, each designed for a specific type of customer.
NASA Federal Credit Union Premier Checking
All three of NASA Federal Credit Union's checking accounts have some common benefits, such as a cash back debit card that can earn up to $250 per year on purchases. The bank also offers EarlyAccess Payroll to its checking customers, giving access to direct deposits up to two days before payday.
The Premier Checking account is designed to be a solid checking account for most of the credit union's customers. It has no monthly maintenance fee for customers with combined NASA FCU balances of $2,500 or more ($7 otherwise).
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Ratings Methodology
Rates as
of Apr 26, 2024
NASA Federal Credit Union Premier Checking
Federally insured by NCUA.
APY
N/A
Min. To Earn APY
N/A
- Easy to waive the monthly fee with $2,500 in combined balances
- Cash back debit card
- Early access to payroll deposits
- $7 monthly fee if balance requirement isn't met
- Doesn't earn interest
- Online bill pay only free for Platinum Rewards members
The NASA FCU Premier Checking account is a good product for customers who aim to establish a relationship with the credit union, as account holders can waive the monthly fee with a combined balance requirement.
NASA Federal Credit Union Premier eChecking
The Premier eChecking account is ideal for NASA FCU members who plan to have their paychecks directly deposited. There are no monthly maintenance fees for customers who use direct deposit or Online BillPay+, and customers get one free box of checks each year.
Show Best Offers Available in
Ratings Methodology
Rates as
of Apr 26, 2024
NASA Federal Credit Union Premier eChecking
Federally insured by NCUA.
APY
N/A
Min. To Earn APY
N/A
- No maintenance fee with direct deposit
- Free online bill pay
- Cash back debit card
- Free checks
- Early payroll direct deposit access
- Doesn't earn interest
- $8 monthly fee if requirements aren't met
The Premier eChecking account is designed for customers who are willing to set up direct deposit or use online bill pay. It also comes with free checks, a cash back debit card, and early access to payroll direct deposits.
NASA Federal Credit Union Premier Preferred Checking
The Premier Preferred Checking account is designed for NASA FCU's higher-balance customers. Unlike the Premier Checking account, which takes all NASA FCU balances into consideration, the Premier Preferred Checking account requires a $2,500 average daily balance in the checking account itself to avoid a monthly fee.
For customers who qualify, the account comes with all of the previously discussed benefits, and also earns interest (dividends in credit union terms) on balances.
Show Best Offers Available in
Ratings Methodology
Rates as
of Apr 26, 2024
NASA Federal Credit Union Premier Preferred Checking
APY
Up to 1.00%
Rate info
Earn a dividend of 1.00% APY
Min. To Earn APY
$0
- Earns a competitive APY
- Cash back rewards debit card
- Early payroll access
- Free checks
- Free online bill pay
- $2,500 minimum balance to avoid fees
- $9 monthly maintenance fee if balance requirement isn't met
The Premier Preferred Checking account is a solid product for those who can keep over $2,500 in their checking account. It earns a competitive APY on balances and has several other valuable perks, such as free online bill pay and early access to direct deposits.
Checking account comparison
We recommend comparing checking account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
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| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
0%
Min. to earn: N/A
|
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
|
|
|
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
0.50%
Rate info
You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
|
|
Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
0.40% (up to 3.30%)
Rate info
To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. to earn: Monthly direct deposits totaling at least $1,500
|
Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!
|
NASA Federal Credit Union customer service and experience
NASA Federal Credit Union offers customer service by phone from 8 a.m. to 6 p.m. ET on weekdays and 9 a.m. to 2 p.m. on Saturdays. It also offers help through email. But one of the big differentiators is the wide availability of in-person help.
NASA Federal Credit Union has 14 of its own branches, located throughout the D.C. metropolitan area. However, customers can access 5,600 shared credit union branches nationwide and more than 36,000 fee-free ATMs. So, even if you don't live near any of the credit union's own branches, you can still likely enjoy branch-based banking convenience.
NASA Federal Credit Union relationship benefits
One of the biggest reasons to join a credit union is for the relationship benefits. NASA Federal Credit Union members get access to the credit union's wide variety of banking products and services, including unique products like its low-interest credit cards and 0% down first-time home buyer mortgages.
NASA Federal Credit Union also has an excellent Membership Rewards program with four tiers, depending on the customer's combined account balances. The base (Bronze) tier gives some valuable benefits, including three free non-network ATM transactions, and higher tiers -- Silver, Gold, and Platinum -- add additional perks such as free cashier's checks, notary services, and more.
Alternatives to NASA Federal Credit Union
There's no financial institution that is ideal for everyone, so here are a couple of alternatives to consider.
Alliant Credit Union
If you aren't worried about in-person branch access, online-only Alliant Credit Union could be worth a closer look. It offers competitive savings yields, high-yield CDs, and an interest-bearing checking account with no minimum balance requirement. It also has some highly competitive credit card products, competitive auto loans, and more.
Capital One Bank
If you want the convenience of a branch-based bank with higher interest rates than most of them offer, consider Capital One. It has a high-yield savings account that is competitive with online offerings, excellent CDs with no minimum balance, and a fantastic no-fee checking account.
Of course, if neither of these fit your needs, check out our full list of bank reviews to find the ideal bank for you.
Is NASA Federal Credit Union right for you?
If you're looking for an all-in-one banking relationship, NASA Federal Credit Union could be worth a look. Some of its features (like its savings account rates) aren't too competitive, but it shines in a few areas -- especially its share certificate yields and unique lending products.
Other products by NASA Federal Credit Union
In addition to savings, checking, and CD products, NASA Federal Credit Union offers a wide variety of banking products and services.
- Auto loans
- RV loans
- Student loans
- Personal loans
- Home equity loans
- IRAs
- Health savings accounts (HSAs)
NASA Federal Credit Union credit cards
- Visa Platinum Advantage Rewards: Below-average interest rates on purchases and balance transfers and rewards points that can be redeemed in several ways.
- Visa Platinum Cash Rewards: 1.5% cash back on all purchases.
- Visa Classic: No rewards, but a low fixed interest rate.
NASA Federal Credit Union mortgages
- Conventional mortgages
- FHA loans
- VA mortgages
- Reverse mortgages
- Refinancing mortgages
- First-time home buyer loans: NASA Federal Credit Union offers mortgages with $0 down and no PMI for first-time buyers.
Our bank and credit union methodology
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
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Yes. If you aren't an employee of NASA or one of the credit union's 900 partner companies, you can still join. National Space Society (NSS) members are eligible to join, and the credit union will simply give you a free one-year NSS membership if you open an account.
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NASA Federal Credit Union is a member of the National Credit Union Administration (NCUA), which is the credit union equivalent of the FDIC. As such, savings are federally insured for up to $250,000 per person.
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Yes, NASA Federal Credit Union offers a range of business banking products and services, including business checking and savings accounts, business loans, credit cards, and commercial real estate financing.
Our Banking Experts
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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