Navy Federal Credit Union’s CD rates and savings accounts are regularly featured here on BankVibe.com because of their high APY’s and promotional features. In a savings environment that has left consumers with little in the form of interest, NFCU has been able to keep their rates substantially above the national average as well as supplementing their product line with promotional deposit accounts, such as their “Easy Start Certificate“.
NFCU is the largest credit union in the United States by both asset size and membership even though their membership is still relatively exclusive – allowing only those who have served in the United States military and their family members to join.
During the last couple of years we’ve seen a number of credit unions grow more lenient with membership restrictions. Even Pentagon Federal Credit Union has made membership more widely available – requiring just a $20 fee to the “National Military Family Association” or the “Voices for America’s Troops” foundations before joining. We’re still waiting, however, for NFCU to follow suit with lifting restrictions so that more consumers can take advantage of their products.
Navy Federal Credit Union CD Rates 2013:
(Rates accurate as of February 2013. Visit NavyFederal.org to see updated rates.)
$10k Deposit APY
$100k Deposit APY
Outlook on Deposit Rates:
In general the outlook for any kind of savings account is not great. The FED is continuing to keep rates at historic lows in an attempt to stimulate borrowing. This unfortunately has been hurting savers who rely on deposits for income. The FED may also continue purchasing long term treasury bonds (quantitative easing) which will keep rates low for the foreseeable future.
Navy Federal Credit Union Locations and Reviews:
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