Paycheck Chronicles

Navy Federal Offers 5% CD

That Navy Federal Credit Union (NFCU) - sometimes they really rock!  They've just announced their Celebration Certificate of Deposit offer, which earns 5.0% interest for 12 months, up to $5,000.  I have looked and looked, and I can not find another offer that comes even close to these rates.

Navy Federal Membership

NFCU is a federally insured credit union with membership open to a wide range of military folks, not just Navy.  This includes:

DEPARTMENT OF DEFENSE (DOD) UNIFORMED PERSONNEL Army, Marine Corps, Navy, and Air Force Active Duty, reservists, National Guard, retirees, and annuitants

UNITED STATES COAST GUARD PERSONNEL including Active Duty, reservists, civilian employees, retirees, and annuitants

ARMY AND AIR NATIONAL GUARD PERSONNEL civilian employees, retirees, and annuitants

DELAYED ENTRY PROGRAM (DEP) PERSONNEL Please call 1-888-842-6328 to apply.

DOD OFFICER CANDIDATE PROGRAMS Midshipmen and cadets at the United States Naval Academy, United States Military Academy, United States Air Force Academy, United States Coast Guard Academy, United States Merchant Marine Academy, and other officer programs.


DOD CIVILIAN EMPLOYEES including retirees and annuitants


FAMILY MEMBERS including grandparents, parents, spouses, siblings, grandchildren, children (including adopted and stepchildren), and household members. Once your family members have joined, their family members are also eligible for membership.

The Certificate Offer

This limited time Celebration Certificate offer is limited to one certificate per member, but you can have one for each family member.  The certificate has a $25 minimum balance and a $5,000 maximum balance, and you can add to the certificate during the term (up to the maximum.)  It has a 12 month term.

There is a penalty if you terminate the certificate prior to the end of the term.  However, the penalty for a 1 year or less CD is 90 days interest, so you will still come out ahead if you don't have quite the whole year to wait.

If you have some money sitting in savings, this CD is definitely a great value.  We've done them before and I am always glad for that extra interest.


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