20 Month IRA CD Yielding 3.0% APY at Navy Federal Credit Union

March 17, 2012 No Comments »

Apparently we are a little late to the party with the following offer, but better late than never! Thanks to BankVibe.com reader Jennifer for tipping us off on this special offer from Navy Federal Credit Union.

Currently, and as of December of last year, NFCU is offering a 20 month certificate of deposit (for retirement accounts only) yielding 3.0% APY. Unlike their other noteworthy special offers, this one comes with a larger maximum deposit amount of $18,000. If you open this account with NFCU be sure to contact them prior to maturity otherwise the CD will renew into a $1,000, 24 month CD with their standard APY.

Navy Federal Credit Union, out of Virginia, is the largest credit union in the United States with roughly $36 billion in assets and 3.2 million members. Regardless of their size though, they still maintain a fairly exclusive membership. Only those who have served or are serving in any branch of the US military (along with their family) can join. For further information on membership call 1-888-842-6328, then press *31.

Another noteworthy savings product from Navy Federal Credit Union is their ongoing and infamous “Easy Start Certificate.” It’s marketed as a limited time offer but has been on the table for quite some time now. It’s geared towards first time savers and comes with a maximum deposit allowance of just $3,000. You’ll need to open up a checking account with them beforehand and make the transfer from that account.

Our Take:

NFCU’s 24 month IRA deposit easily offers the highest yield from any bank or credit union with that term. To put it in perspective, the top 2 year CDs from our database of deposit products available nationwide comes in at less than half that amount at 1.26% APY. However the $18k maximum deposit may come as a downer to individuals looking to dump a larger chunk of their nest egg in a bank deposit.

Other NFCU Promotions:

If you’re looking to secure a home loan or refinance an existing mortgage, NFCU has a $2500-off closing cost special offer for a limited time only.

Visit NFCU.org for further information and special offers.

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