Navy Federal Introduces 17-Month Add-On CD Special, 3.25% APY


Deal Summary: 17-month Share Certificate Special, 3.25% APY, $50 minimum/$50k maximum deposit, additional deposits up to $50k.

Availability: Nationwide, but restricted to those with a military relationship.

Navy Federal Credit Union (Navy Fed) has added a 17-month Share Certificate Special (3.25% APY, $50 min/$50k max) to their product line. The new Special features unlimited additional deposits (up to $50k) throughout the term. According to the fine print on the promotion page, there is a limit of one 17-month Special per member.

3.25%$50$50kNavy Federal Credit Union17 Month CD Special
Rates as of January 22, 2019.

As stated in Navy Fed’s Certificates brochure, the Early Withdrawal Penalty reads as follows:

Certificates with a term greater than one year: Forfeiture of all dividends on the amount withdrawn for 180 days or since the date of purchase or renewal (whichever is less).

Many thanks to DA readers racecar and rockies for their Forum posts last week, which provided advance notice and accurate details about Navy Fed’s newest offering.

Special 40-month IRA/ESA Certificate

Navy Fed’s Special 40-month IRA/ESA Certificate (3.75% APY) is still being offered. Like the 17-month Share Certificate Special, the IRA/ESA is limited to one per member and can be opened with a $50 minimum, but has a higher balance cap of $150k. The add-on feature allows for unlimited additional deposits any time during the term, but is “subject to the maximum balance and IRS contribution limits.”

3.75%$50$150kNavy Federal Credit Union40 Month IRA Special (Traditional, Roth, CESA, SEP)
Rates as of January 22, 2019.

$100 IRA Bonus

Members who open their first IRA and deposit at least $100 in the new IRA no later than 45 days after account opening, will earn a $100 bonus. The bonus will be credited into the IRA account within 30 days of funding. The $100 bonus will be classified as a dividend and “will not be reportable as a contribution."


Navy Fed’s field of membership (FOM) includes individuals who are connected to the U.S. military, regardless of where they reside.

The "Become a Member" page has a series of questions to determine membership eligibility.

You must be able to answer "Yes" to one of the following questions to qualify for Navy Federal Credit Union membership.

  • Are you or have you ever been affiliated in any way (includes Active Duty, reservists and retired personnel) with the Armed Forces, DoD, Coast Guard or National Guard?
  • Do you have a family member (grandparents, parents, spouses, siblings, grandchildren, children and household members) who at any time was affiliated with the military?
  • Do you have a family member (grandparents, parents, spouses, siblings, grandchildren, children and household members) who is already a Navy Federal member?

Joining Navy Fed and/or opening a CD or IRA/ESA Certificate Special can be done online or at any of 318 U.S. branches located in 30 different states and the District of Columbia.

Credit Union Overview

Navy Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 5.52% (excellent) based on June 30, 2018 data. In the past year, Navy Fed has increased its total non-brokered deposits by $7.89 billion, an excellent annual growth rate of 13.08%. Please refer to our financial overview of Navy Federal Credit Union (NCUA Charter # 5536) for more details.

Navy Federal Credit Union is considered to be the largest credit union in the world. Headquartered in Vienna, Virginia, Navy Federal has grown from its initial seven members in 1933, with more than 8,100,000 members and assets in excess of $91 billion.

How the Specials Compare

When compared to 160 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Navy Federal Credit Union’s 17-month Share Certificate Special APY currently ranks first.

Interest RateLength of TermCredit Union/Bank
3.25% APY17-Month Share Certificate Special ($50k max)Navy Federal Credit Union
3.10% APY15-Month CD SpecialPremier America Credit Union
3.04% APYOnline 19-Month CDMutualOne Bank

To search for the best CD rates, both nationwide and in state specific, please refer to our CD Rates Table page.

When compared to 146 similar length-of-term IRAs tracked by that require a similar minimum deposit and are available nationwide, Navy Federal Credit Union’s 40-month IRA/ESA Certificate Special APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.75% APY40-Month IRA/ESA Certificate Special ($150k max)Navy Federal Credit Union
3.35% APY3-Year IRAMountain America Credit Union
3.20% APY36-Month IRA CertificateConnexus Credit Union

To search for the best IRA rates, both nationwide and in state specific, please refer to our IRA Rates Table page.

The above rates are accurate as of 1/7/2019.

Related Pages: 1-year CD rates, IRA CD rates, nationwide deals

mitch mcconnell
mitch mcconnell   |     |   Comment #1
despite being the largest credit union, they have not had very good rate the last few years.
111   |     |   Comment #2
The on-line CD opening process couldn't be easier. I started mine with a small amount since it's an add-on CD. A decent rate for now, and also good as short-term "rate insurance".
QED   |     |   Comment #3
I paid my $50 "insurance premium" earlier today. Unless CD interest rates fall precipitously, $50 is as large as this CD account ever will become. At least they pay me some interest on my premium. Cannot complain about that. But all in all this is not much of a deal.
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deplorable 1
deplorable 1   |     |   Comment #26
$50 for now but if rates drop I could see maxing it out at a later date. Sure beats a 6 year at 3.5% IMO.
deplorable 1
deplorable 1   |     |   Comment #4
Just a heads up do NOT use credit card funding at NFCU! I just tried it on my Citi double cash 2% card and it coded as a cash advance! I had to cancel the transaction and open the CD with transferred funds. Lesson learned.
larry   |     |   Comment #7
deplorable 1 (Comment #4)
Call customer service of your cc and ask to lower the ca limit to zero. All cc companies should allow you to do this despite what they preach.
Rman   |     |   Comment #15
Larry I have tried......some allow it but many do not.....some allow you to lower it but not to zero. I agree seems like you should be able to set it at whatever you want!
Rman   |     |   Comment #8
Thanks Deplorable 1.....Yes just shows people really need to be careful with this....I tried several months ago with a credit card and just completely rejected it-actually showed as both a pending charge and a pending a wash. It annoyed me but certainly better than going as a cash advance.......I think some credit cards are really starting to crack down on this. I don't get why......they are still making a percentage on the transaction alone. Oh well.
Rman   |     |   Comment #10
PS-This was at a different credit union.....not here.
Never Trump Republican
Never Trump Republican   |     |   Comment #21
You buy "Compact Disk" by credit, but need to buy "Certificate of Deposit" with cash. Common sense. (Or maybe it's not very common.)
Trax   |     |   Comment #23
What are talking about??
Trax   |     |   Comment #24
Common sense is funding bank accounts with a credit card and getting all the great rewards and saving money on interest since you don't have to pay the card right away........Maybe you need a refresher course in "common sense".......about what I would expect from some idiot never trump rino.
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deplorable 1
deplorable 1   |     |   Comment #25
I bought $10,000 worth of CD's with my 2% card at GTE and it was coded as a purchase with the same exact card. NFCU could not tell me ahead of time if it would code as a purchase or a cash advance so I took a shot. Got it cancelled before I got charged a fee though. Now I will set my cash advance limit to $0 before trying this again.
Trax   |     |   Comment #27
Good man, Deplorable! Yes this always scares me a little. I'm told the "coding" gets done by the merchant......but apparently that can be changed later so who knows. Think these credit cards would just love to nail you with both the fee and the huge interest rate. It's great when it works but folks need to keep an eye on the transaction from start to finish!
Trax   |     |   Comment #28
Deplorable have you had any dealings with PenFed? I'm furious with them
deplorable 1
deplorable 1   |     |   Comment #41
@Trax: Not yet but I have dealt with various financial institutions that are very slow to let you pull your cash back out once a CD matures and/or have painfully slow ACH times and low transfer limits. NFCU actually lets you give maturity instructions when you open the CD. I always have mine go to the share savings for the .25%(just in case I forget) and then instant transfer to the checking and 3rd party ACH pull out. I can usually get the cash back in 24-48 hrs. after maturity.
AnnO   |     |   Comment #58
Doesn't Navy have some weird limitations on use of ACH to get funds out of their share savings account?
Newbie1   |     |   Comment #59
Yes you’ll need to open a checking account.
deplorable 1
deplorable 1   |     |   Comment #85
@AnnO: Yes you can't ACH directly out of the NFCU share savings. Supposedly you are allowed to ACH IN to the share savings though. The only way to get money back out is through the checking and their limit is $5,000 per transfer and $15,000 every 5 days. I use 3rd party bank for ACH pulls.
Trax   |     |   Comment #61
Thanks Dep 1-Yes I was furious with them......Why do they say it matures on a certain day then nothing happens until midnight (which is the NEXT DAY???!!).....That was annoying but when the CSR gave me attitude that's when I went to furious.......They will never again see a dime from me.
deplorable 1
deplorable 1   |     |   Comment #70
I'm going to have the same problem over at Home Loan Investment Bank when my 3.15% 18 month CD matures. Have to wait for a check by snail mail no ACH or wire options and it still doesn't look like they will allow you to open a checking or savings out of state. Then the long inevitable hold at BoA before it will become available. Funny how they allowed ACH in for the CD though.
Trax   |     |   Comment #71
Dep 1-Ugh.....Very annoying. What century are some of these banks in?? As annoyed as I am with Penfed.......I'm still even more disgusted with IGO. Years ago they took my money by ACH and claimed they had to wait a week before I could even earn interest on it!! Made me furious. I can accept a hold......but not earning interest?? Complete BS. I have never and will never do business with them again.
deplorable 1
deplorable 1   |     |   Comment #132
Are you referring to igobanking? I had that Bank Purely account from Flushing Bank when it was a rate leader a while back. They use the igobanking platform and they had the SLOWEST ACH transfer times I have ever encountered at any financial institution! They made Discover bank look fast. ACH transfers could take 7 days if there was a weekend in there and their capped "fast transfers" that were the typical 2-3 day ACH was never working right or the option stopped appearing. I ended up Flushing Bank Purely after they became noncompetitive.
RJM   |     |   Comment #5
I called and they could not & would not find a way to allow me to join.
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Luvcd   |     |   Comment #22
I put a couple of offers out to other CUs based in part on the NFCU rates and them "meeting/beating" their competition. If anyone has a good loan department, they will match/beat Navy!
RJM   |     |   Comment #45
What does a loan department have to do with deposit rates? And who, exactly, will match or beat Navy?
Att   |     |   Comment #47
Luvcd Please let us know what institution(s) will meet or beat Navy.
anonymous   |     |   Comment #16
I had issue with opening CD online, it won't let me pass through the 1st page. Had to call to open this CD. and they can only pull $ from external checking account, not a saving account. If you already have your external account linked to your Navy FCU, then you can transfer $ to your Navy FCU checking account.
aaa   |     |   Comment #18
Very easy process to open-up
klink   |     |   Comment #19
Local branch for me. Piece of cake.
Trax   |     |   Comment #20
Hope they are better than PenFed.....I had 2 CD's just mature with them and I'm really annoyed at both their policy and the customer service. I thought Penfed was just fine for years until the maturity of these CD's came along a few days ago......They have a completely stupid policy of waiting until midnight the day of maturity to release any technically the CD does not actually mature the day it says it will. So annoying. Then when I called about it I got some rude CSR that seemed to actually enjoy the fact that I could not get my money the day it says it matures......another CSR said they would ask for an "exception"! What a if they are doing me a favor to get MY MONEY!! Oh well I'm done with them and will NEVER go back.......Bye PenFed......hope it was worth it!!
CC in CA
CC in CA   |     |   Comment #31
Even worse when the CD matures over the weekend... If on a Sunday, your money won't be available until Tuesday 12:00am.
QED   |     |   Comment #32
Trax #20:

The reprehensible practice to which you make reference is far too widely found amongst American financial institutions . . . though not all. They know EXACTLY what they are doing. I call it unvarnished stealing . . . . from their own customers and members. Sometimes you are able easily to short circuit the crediting delay with a telephone call . . . . . though not always.  But in any event, such a crediting delay should not exist in the first place.
Trax   |     |   Comment #62
QED-Well said......Thanks. I guess I could live with this stupid policy of theirs......But as I said above.......the rude CSR that enjoyed my problem was the last straw......I just pulled $30K out and will close everything. Yes......I know......that's not even a drop in their bucket.......but I will certainly continue sharing this bs .......Maybe it will prevent a really big customer from doing business with these losers.
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111   |     |   Comment #43
PenFed used to be great - that's all done, it seems. My only dealings with them the last few years have been to use my PenFed 5% CashBack gas card to buy gas, and to keep my other PenFed cards active with twice-a-year small purchases (which helps a bit to keep a high overall credit limit, which has advantages). I've bought no CDs from them in a while and have no plans to do so.
Trax   |     |   Comment #63
I agree 111.......Funny for 5 years I was content and all was going perfectly fine.......Wow did that ever change quickly when the CD's matured. I continue to be amazed at how some businesses can do everything PERFECTLY wrong. These losers will NEVER see another dime of my money!!
anonymous   |     |   Comment #76
Trax, I'm surprised you're so upset that PenFed held your CD funds one day longer than expected. The 3% CD rate for 5 years was so much higher than anything else available at that time, that I'd gladly have PenFed hold the money for one more day if they can offer a similar competitive rate again (which now, of course should be higher).

If that one day delay made you miss out on a deal somewhere else or something like that, I'd understand.
Trax   |     |   Comment #94
#76-It was more about the rude customer service......Just had another smart-^%$ today.
JohnQ   |     |   Comment #95
You must deal with the wrong branch. Of course, we only have one side of the story.

Been a member for years and never had such bad experiences with PenFed.
Trax   |     |   Comment #104
#95-It was with their #800 number.....Not sure where those calls go. In fairness I have also had very good customer service through this 800 number......but 2 jerks in a row. Oh well I'm done with them for good now. Doesn't matter.
No Deal Is Always Better Than A Bad Deal
No Deal Is Always Better Than A Bad Deal   |     |   Comment #29
I opened CDs online for me and my wife with no problems. Very easy. I guess I am puzzled as to why some are staying at $50 threshold. Navy's rate beats the current 18 mth and 2yr nationwide rates and beats or is competitive with the 3yr and 4yr rates. For those of you holding back, what kind of rate bump are you looking for? If you are parking in a lower paying liquid account, you do have flexibility but you are accepting a lower rate in hopes rates rise(sometimes the math works, but not always). Sort of like selling when the market goes down. Holding money in a liquid account in hopes that rates rise can cause you money unless you do a very delicate with some luck dance.
Newbie1   |     |   Comment #30
Ally bank bonus might be a reason.
Anonymous   |     |   Comment #33
I agree with #29. Navy beats anything going right now & I'm jumping in today. I've been waiting for a 4% short term CD for ages. It is not happening. Today I'm taking liquid funds that are paying only 2.3% & going for this 17mo 3.25%. Not waiting any longer!!
larry   |     |   Comment #39
Anonymous (Comment #33) You still have a very good opportunity for a 4% cd, but put in $50 to open and what until eom. If nothing good pops up take half of the amount you were originally going to allocate and add to cd. Then wait another month or two and see if a good rate comes and if not add some more. When a good rate pops up you will have some dry powder and your blended rate will be much better. The only item I'm unsure of is the number of add-ons an investor is allowed to make with NFCU?
Luvcd   |     |   Comment #40
Larry, only limit is 50k cap however u get there, Interesting the “add-on” concept...what is the Cu thinking about rates...will not go down? OR it has such a growing demand for funds they want you to stay with them? OR?
Newbie1   |     |   Comment #74
It creates a place to rollover other cds as they mature, a place to deposit the tax refund, one can add some per pay period. I really appreciate these add-on CDs.
AnnO   |     |   Comment #36
I might attempt this and keep it at $50 for now. When my recent 7mo CD matures this summer, I might put that in here if there's nothing better then.
Jennifer   |     |   Comment #37
Sounds like a good plan.
deplorable 1
deplorable 1   |     |   Comment #42
I have it over at GM right notes paying 2.788% APY and a few bank bonuses earning well over 5% currently while waiting to see what the FED/banks decide to do with rates this year. You never know when a better deal can pop up since banks and credit unions are competing again.
RJM   |     |   Comment #46
I am pondering an account with GM because 2.788% is more than the 2.25-2.30% that I currently get. What do i need to know? Besides its not insured?

Checks? 6 withdrawals per month? Any limitations?
deplorable 1
deplorable 1   |     |   Comment #52
@RJM: Unlike Ally demand notes GM right notes is a very limited type of account with no checks or bill pay ability. It is similar to the Emigrant clones in that you can only link one account for transfers in and out and you have to login to the right notes website to do transfers. No ACH pulls are allowed even from the linked account. I linked it to my Redneck MMA which is linked to 12 other accounts to get around some of these limitations. The minimum is only $500 but you need $50,000 minimum to earn the 2.75% 2.788% APY. There are no transfer limits for ACH out that I'm aware of so you can pull it all out in one shot if you need it. I would recommend linking it to a good hub account that you are going to keep. Here is the prospectus:
deplorable 1
deplorable 1   |     |   Comment #53
One other thing to note is that they put a 5 business day hold on new ACH investments before they are available for withdrawal. They are now tied with the Mercedes-Benz first class demand notes but without requiring accredited investor status.
I believe that the GM right notes program will eventually morph into something more like ALLY demand notes with up to 3 linked accounts, check writing ability and allowing 3rd party ACH pulls. For now though it is what it is a very limited place to park liquid cash.
Att   |     |   Comment #64
And GM Notes like Ally are unsecured debt and not insured. GM and GMAC were both saved by the government, take that into account.
deplorable 1
deplorable 1   |     |   Comment #68
Right Att but these accounts don't have a 6 withdrawal per month limit or ACH transfer limits either. In the case of Ally demand notes you can earn a decent rate 2.12% on a bill pay account without the need for direct deposit or debit card transaction hoops of a so called "rewards checking" account. So while you are giving up FDIC insurance you are in effect getting some value in return. If you are really worried about FDIC insurance you can always drop it to the minimum plus enough for bills so very little risk.
Get Real
Get Real   |     |   Comment #144
Most people on this site are not risk takers. If you are chasing rates at the expense of any safety with unsecured debt with a company that is having problems then take the risk for little gain. Remember that the auto industry is going to change with self driving vehicles coming out and more people using Uber like services. GM is closing plants and if auto sales go down so do the number of auto loans Ally makes.
deplorable 1
deplorable 1   |     |   Comment #152
For 30 years I have been using various corporate debt accounts and have never lost a penny. For 30 years people have been telling me how risky they are. With rewards checking accounts if you don't meet the high hurdles of debit card, signature/PIN based transactions, direct deposit requirements, logins etc. for the month you earn basically nothing. You are then losing to inflation which is also a risk. I can't stand keeping cash in a regular checking account earning nothing either just because I need to pay some bills. Taking risks is how I was able to retire young enough to enjoy it.
Dr Dumb
Dr Dumb   |     |   Comment #153
Earning an extra 0.4% on $50,000 is exciting for some, tedious for many. Who cares?

Deplorable talks about these GM notes multiple times per day. What is the point?
Get Real
Get Real   |     |   Comment #155
And people can buy junk bonds and don't lose money. The point is the risk you are accepting. To you, the risk is worth taking for the little extra intrest you receive. Most people on this site are more concerned about safety than some extra intrest.

These UNSECURED debt notes are risky if you read the prospectus. They are not savings account and that is why they are not called that.

You often seem to justify your actions. I'm working as a consultant and my wife still works. I enjoy life, have young children and have a good amount of savings, investments and 529s for my kids. Glad you retired and like to brag about it and your investments.
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NFCU   |     |   Comment #67
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111   |     |   Comment #44
#29, you asked why some who started this CD at Navy are starting it with only $50 (or thereabouts). I'm one who is doing that, for now.

In part this is because I consider "add-on" CDs with rates that are at least decent, as somewhat rare. Therefore, their value as "rate insurance" may be as or even more important than their value as immediate income-producers. "Holding back", as you call it, gives me the option of assessing economic changes, and at some future time (near-future, of course since it's only a 17-month term after all), deciding whether to add more funds to this CD, or instead to use those funds to buy stocks/ETFs/equity funds if they have dropped enough.

This requires, as you stated, "some luck", but probably not as much as individual stock-picking, and in my experience it is more lucrative than a simple hard-coded CD ladder.
deplorable 1
deplorable 1   |     |   Comment #54
Another thing to note is that $50(the CD minimum) is the exact same amount needed to keep NFCU active and fee free. So even if their rates are not good at any given time I always keep a $50 CD open at all times or you need $50 in the share savings earning .25% to avoid dormancy fees.
No Deal Is Always Better Than A Bad Deal
No Deal Is Always Better Than A Bad Deal   |     |   Comment #38
Thanks for the good comments, info/insight #s 30, 33, 36 and 37!
ksil   |     |   Comment #48
I intend to purchase a 17 mo CD as soon as possible. I have not previously been a member. My husband and I qualify do to my husband's service. I filed an application yesterday, received a request for docs, which we uploaded and now am told that the process to open a share account takes 5-7 days and then info will be snail mailed out within 10 days after that. Can anyone tell me if it will really take that long to gain on line access and open the CD?
Anonymous   |     |   Comment #49
I've been with Navy for well over 10 years. I can't remember the whole process for joining, but it will be worth the wait. I don't think it will end up taking as long for the process as you've told. But, you know snail mail.... This offer is a good one!
Sylvia   |     |   Comment #51
If you're close to one of their locations, I highly recommend a visit. From what I understand, you can get it all done there, in one trip -- become a member and open CD. Otherwise, you'll have to be prepared for some downtime while waiting to hear. They are very fragmented.
Don't Go In Person!
Don't Go In Person!   |     |   Comment #56
DON'T VISIT A BRANCH FOR THIS. Sorry Sylvia, I know you're just trying to help, but years of experience has shown that the employees in the branch are morons. If you want it done RIGHT, you need to call their 888 number. Not only that, but the branch can do nothing on their own (Navy's policy), they just collect paperwork and forward it onto their office back east. NOTHING can be approved or done in the branch, and it's almost a guarantee they will **** up.

Best thing for everyone is to call their 888 toll-free number. Those reps usually (not always, but usually) do it right. Years of experience has shown that in the branch, it's done wrong virtually 100% of the time, and actually makes this worse because you have to wait until everything is forwarded (by mail) back to the head office to then realize it was done wrong. Use their 888 number.
deplorable 1
deplorable 1   |     |   Comment #65
I can attest to getting very good customer service at NFCU by phone and even if they do **** up they will fix it and make it right. Very pleasant service reps over there as well as 24/7 customer support. This is the best credit union I have dealt with so far.
Sylvia   |     |   Comment #69
Don't Go, I was given that advice by a rep on their 888 #. It was confirmed by comments I've read on this site in response to prior promos. A couple years ago, when NFCU revised eligibility, Ken did a writeup on app process that others may find useful,
Sylvia   |     |   Comment #72
Clarification to comment #69. "Don't Go" is in reference to the user name in comment #56 ("Don't Go In Person!"). I did not mean it as a call to (in)action.
anonymous   |     |   Comment #77
I might agree with comment #69 if you're doing something complicated like opening a new Roth IRA CD with a dividend transfer from an existing Roth IRA CD.

But to establish membership and open a share account? I did this about a year ago in a branch and got it done in one day as Sylvia pointed out. Even opened the Roth IRA there and got the $100 bonus for the Roth, even though the employee had never heard of a Roth before. :) I think she later said "This is a great idea, maybe I should open a Roth account too." :) Luckily she did everything correctly, but it took a few phone calls and a lot of time. On the other hand, establishing membership was quick and routine for them I think.
NewMember   |     |   Comment #55
If you call member services and do the application over the phone they will give you a member # over the phone, help you log in to your account, and take the $5 with a credit card. Then they will send you an email requesting copy of your driver's license, Discharge papers, and a utility bill. Now your application is final. Read the other posts regarding the funding process for CD, which is to ACH from your bank, mail check, or drop by a branch.
deplorable 1
deplorable 1   |     |   Comment #75
Make sure they don't code the $5 as a cash advance! lol
AnnO   |     |   Comment #96
Use a debit card for the $5 if you're worried about the cash advance problem... no great loss on just $5 not going on a credit card. ;-)
NavyF....UP   |     |   Comment #157
Good luck with getting Navy FCU to open your account this MONTH! I emailed them an IRA transfer form on January 3, 2019 through their secure email system to move funds from a matured IRA CD at PenFed and they did not reply. A few days ago, I called customer service and was told that they had received the form. However, due to a f---up by PenFed I had to call Navy FCU customer service again. I was flabbergasted when I was informed that my IRA transfer request to purchase the 40 month 3.75% IRA CD would be processed in 2 to 6 weeks, because Navy FCU was STILL dealing with IRA requests from 2018. He suggested that I ask PenFed to rollover the funds and send me a check to deposit at Navy FCU to fund the IRA CD Special. No way! I emailed Navy FCU and told them to cancel my IRA transfer request and that I was going to take my business to a financial institution where they don't take their customers for granted.
deplorable 1
deplorable 1   |     |   Comment #159
What happened over at PenFed that slowed things down? Many complaints about them lately. I understand that a direct transfer is the preferred method when moving IRA's but while not ideal at least the NFCU rep was honest enough to tell you what was going on in order to make sure you had enough time to snag this deal. You have 60 days to get the funds into another IRA account when doing a rollover so there would not be any tax consequences as long as it is your only rollover for the year. It doesn't sound like they were taking you for granted just trying to expedite things for you.
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deplorable 1
deplorable 1   |     |   Comment #166
That sucks, let me guess all paper forms sent by mail? Yeah it's kind of hard to believe they would be that unprepared. Wait did you say months!?! or was that a typo?
lou   |     |   Comment #163
I did a rollover for myself and my wife from PenFed last July for the 4.2% Achieva IRA certificates. They were penalty-free and allowed me to get the funds to them 24 hrs. I need to wait a year before I do another rollover, but it was definitely worth it for me since it greatly simplified the process and allowed me to waive the EWP for the PenFed IRA certificates.
deplorable 1
deplorable 1   |     |   Comment #167
Wow! Nice move Iou. I thought that a direct trustee to trustee transfer was the way to go but maybe a rollover is faster.
Luvcd   |     |   Comment #168
Repeating what has been said before,...if in the neighborhood have the check made payable to the transferee IRA trustee FBO (your name), and pick it up and deliver it a "transfer!" The call center IRA gurus at NFCU are very familiar with same. Rollovers should be held in reserve for that once in year event!
Nick11   |     |   Comment #171
I faxed NFCU my IRA transfer request on 12/11/18 to have the funds from my PenFed CD which matured on 1/10/19 sent to NFCU. Cd PenFed on 1/9/19 requested this be done either overnight mail or FedEx. She said they would do this on the 10th and if I called they would give me the tracking no. Today, when I called NFCU they hadn't rcvd it yet, but if it was in the mail room they would credit me interest from day they receive it. Cd PenFed for tracking no (by the way they charged me $15 which is fine) but what's not fine is they said they couldnt give me tracking no. Just then, but would email me that info. No email from them. Wish I lived close enough to have picked it up!
So, I know NFCU is still working on requests from 2018 and I think she might have given you some good advise. However, apparently I'm not handling my own problem very well.
Hoody   |     |   Comment #50
Re post as its more for this article.

although this one is not a IRA, it is still capped at 50K.

Good deal for the "short term and lower deposit amount" crowd like younger people just starting out saving and have a set amount they can do without for a short time, not too good for retired type that use these things as income.

One thing that concerns me with these short terms is locking up funds for that short time and find rates back in the dumps right after, in other words stuck again dealing with lower rates because of greed and "waiting" for that perfect rate. But a year or so I guess wouldn't be that worrisome, and better than a MM,.

Right now I have 2 7yr 3.1%ers that are now down to just under 2yrs to go. And want to open a new one at least 5yrs at a somewhat good rate even if under 4% for now. . I don't go outside my local walk in area, so no need to start with some CU in Alaska.
AnnO   |     |   Comment #57
Come to think of it, with all the CU deals we've seen here in the last couple years, I don't think I remember seeing any from Alaska, lol.
Hoody   |     |   Comment #73
:) I hear ya, but there are some, I just added that as a /s because I'm sure one of the online experts would tell me I don't know what I'm doing cause I don't fly across country for that .25% extra, smirk.

Like I said I chase rates up to a point, and I like staying local, the rates are OK for the area, and I do OK with what I do, and if things go wrong, I know where to go and whom to see. I Only do CD's , no stocks, bonds, PM's, IRA's 401K.or 999 CC accounts to manage, or what ever else is out there. And I still have to watch my gross income at this point.

But I know what you mean :)
dollarsncents   |     |   Comment #60
"One thing that concerns me with these short terms is locking up funds for that short time and find rates back in the dumps right after, in other words stuck again dealing with lower rates.........."

That has been my thoughts for some time with everyone jumping on great short term rates right now with hopes of higher rates in the future. There are no guarantees. Just like the stock market, it's all a gamble!
anonymous48   |     |   Comment #78
FWIW.....for those who desire to invest more than 50K and have both a trust account and individual account can open one CD in Trust and one CD not in Trust.
Anonymous Member
Anonymous Member   |     |   Comment #79




RJM   |     |   Comment #82
Thanks again for making it really easy to read your posts. If only everyone could do that.
Anonymous Member
Anonymous Member   |     |   Comment #84
AnnO   |     |   Comment #97
RJM's comment was sarcasm. It is considered rude and hard to read when you write in all-caps.
deplorable 1
deplorable 1   |     |   Comment #146
Typing in all caps is the internet equivalent of yelling at people. If that is your intent then fine but many will find it offensive. If you can't read the small print then just use the zoom feature of your browser.
Anonymous Member
Anonymous Member   |     |   Comment #174
Thanks "deplorable 1" for letting me know, also not assuming and labeling me unlike some people here.

My intent was very simple, Get The Information Out! It's a really good deal! I am very accustomed to writing all caps because my line of work requires it. Also, I was super excited when I found out and wanted to help others by providing information on it. That's why I used all caps.

Now, how I am rude, offensive, in need of correction of "poor behavior," etc... is beyond me. I actually took the time to research, read through the terms and agreement, perform calculations and write a post to help others..

Also I agree with the 3.75% IRA post! That's also a really good idea! High dividends, additional deposits, it's a steal. I currently have TSP and will look into opening one. ^^
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Anonymous Member   |     |   Comment #115
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RJM   |     |   Comment #139
I don't get the reference. But I do know you know that most consider it rude & offensive yet you continue. Meaning your INTENT is to be rude & offensive.
RJM   |     |   Comment #140

The point of responding to poor behavior is to try and correct the behavior. It's called negative reinforcement.

There is a quote that sort of applies here "The Only Thing Necessary for the Triumph of Evil is that Good Men Do Nothing". Although I would not necessarily call posting in an offensive manner Evil, it is rude. Particularly when it continues and its easy to correct.

My point was to simply try to clean up the board & make it better for everyone. I can't help myself and use sarcasm a lot in that endeavor. What was the point of your post? To attack those who would prefer an easier to read board?

I have long believed that if everyone were required to pick a username and stick with it and if the board had a mute button, it would make things better for everyone.

Just because mgmt has other things to focus on does not mean its a bad idea. If I knew how to set up such things, I would offer to do it for free. I do not.

I do know that many boards have such features.

We have a handful of people who can only be considered trolls. They change monikers with every post and seem to only be here to create problems.

I have used a single username here for years.

My comment to Ken would be...wouldn't it be easier to remove the problem posters than to have to delete dozens of their posts every week?
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deplorable 1
deplorable 1   |     |   Comment #86
Check out the 3.75% 40 month add-on IRA CD special with a $100 bonus for depositing $100. I just did 2 out these as a Roth IRA CD(tax free). NFCU even will do a direct transfer of funds held in my Roth IRA sweep account at my brokerage if I want to add-on more later. I figure this is just as good as 4% APY in a taxable CD.
schmoo   |     |   Comment #87

It's an okay deal, nothing spectacular. I put in $50 but probaly won't add to it. Remember everyone, to go and set you "Directions Upon Maturity" now, so you don't forget later on (since it's almost a given that an auto-renew will be at a non-promotion rate). If the online choices aren't what you want (some, but not all options are available online for you to do yourself) you can call, and tell a telephone rep where you want it to go upon maturity.
AnnO   |     |   Comment #98
Which options aren't available online?
deplorable 1
deplorable 1   |     |   Comment #102
For the IRA CD the maturity option was not available when signing up but was available afterwards.
larry   |     |   Comment #80
Anybody find out from NFCU when this rate for the 17 month 3.25% might end? tia
just do it
just do it   |     |   Comment #81
what is your worry ?
it can be opened with 50 bucks Now and then added to
or are you worried about enrollment to NFCU
Anonymous   |     |   Comment #83

Sign up now its only $50, don't miss a great opportunity
WAB   |     |   Comment #88
Love to use their credit card 0% balance transfer offer (targeted - public offer @1.99%) to fund this account. Have not found an easy way to do this as transfer checks/direct deposit do NOT qualify. Will probably overpay another credit card & request refund. CAUTION - this can lead to bad results (including account closure) as some card companies freakout when they see this type of behavior. Anyone have a better idea?
deplorable 1
deplorable 1   |     |   Comment #89
NFCU may actually give you balance transfer checks with the offer. Then you can just deposit into your bank account and fund the CD. Make sure to call first and ask if that would be considered a cash advance before depositing.
If that option fails just transfer the balance to another credit card and request a "credit balance refund check" or have them wire or ACH directly to your bank if they allow it.
Tip: Don't do this with a American Express card! I have seen many people having issues with them.
When in doubt just call the receiving card and ask them how they handle a over payment. Good luck and may the force be with you!
111   |     |   Comment #90
#88 - Currently I have a 12-month, 0% no-fee balance transfer offer from Navy FCU, which I've not yet activated (I have until Feb. 28). I've received these offers several times in the past, and most if not all times I've been able to call Navy and have them send balance transfer checks.

I've never had a bank or a credit union reject the deposit of one of these checks - but then again, I don't think I ever tried to deposit any of them back to Navy itself. If I were in your situation, and I knew for an absolute fact that Navy would not accept the deposit of it's own balance transfer check for this CD, I would probably deposit that check to another bank or CU that would accept the check. (Again, I've never had a problem depositing these checks form Navy to other banks/CUs.) Then when the check clears, transfer funds from that account to your Navy CD. A hassle, yes, but maybe not as much as the "overpay another credit card" route.

In any case, keep in mind that if you have a 12 month offer like I do, you will have a mismatch between the period before your rate skyrockets (12 months), and the 17-month timeframe of this CD.

First, though, you should fund the CD with $50 to get it started in case the offer is pulled.
deplorable 1
deplorable 1   |     |   Comment #92
Good points 111! I just assumed he knew not to deposit the check directly to NFCU and to another bank first. I have been doing this stuff so long that it's like instinct now.
thanks alot
thanks alot   |     |   Comment #93
So now you two want to want to encourage folks to participate in Credit Card Arbitrage when you Know how sensitive it is to do successfully .
Not including dragging this thread Off Topic
deplorable 1
deplorable 1   |     |   Comment #100
Excuse me but WAB asked the question and we were just giving him tips to do this successfully. I have never had a 0% no fee balance transfer fail to go as planned in 30 years or paid a dime in interest or fees. It's all NFCU related as he was talking about a current 0% offer and using it to fund this CD. As 111 suggested though he better have a good backup plan for after the 12 month offer expires. There are basically 2 options:
1. Pay the entire balance off with existing liquid funds before the 0% rate expires.
2. Open another card with a 0% no fee bt offer and pay it off with the second card thus extending the term past the 17 month CD.
Also keep in mind that the date that the 0% rate expires is NOT always the due date on the card. It is best to call and ask exactly what date the 0% rate ends on.
just saying
just saying   |     |   Comment #103
It is not recommended for those who have a skimpy financial background, have trouble paying their bills or can't pay attention to the details. It should also not be attempted by those with already outstanding (nonarbitrage) credit card debt or those without cash reserves for unseen emergencies. Being late on a single payment, even by a day, can also void the offer and reset the credit card account to a much higher interest rate.
deplorable 1
deplorable 1   |     |   Comment #107
Agreed but that pretty much rules out 99% of the folks that visit DA. You think that people who can't even pay their bills on time are out hunting down the best CD and savings deals? If the instructions that 111 and I laid out are followed this should help folks to save more. This isn't Yahoo, facebook or twitter I think you are underestimating the intelligence of the community on here.
99%  Bull !
99% Bull !   |     |   Comment #117
because a couple of High Rollers Dominate the threads you dont think "joe the plumber" isnt looking to grow His $50?

HA HA... No underestimating the bravado exhibited here...
Right1   |     |   Comment #123
#117- I agree. It always appears a certain few like to give the impression of being "High Rollers".

In reality, genuine High Rollers don't even know this site exists, much less waist any of their time commenting on it. Although it is invaluable to us peons.
111   |     |   Comment #126
Sorry, boys (meaning, #117 and #123). Hate to burst your bubble, but in terms of earned income only, "Joe the Plumber" probably kicks my b*tt every day! As an early-retiree and an investor, though, I do OK (I know you were concerned about that...). Plus, I get the entertainment of kicking back and viewing inane comments on the web. Better than SNL these days, so no complaints here.

However, if you boys' toilets ever clog up with the same stuff you're spreading on this website, I suggest you give old Joe a call - if you can afford him!
deplorable 1
deplorable 1   |     |   Comment #128
#117 & #123: I'm Joe the machine builder a former shop rat who worked 18 hr. days in a hot shop to scrape together enough cash to have a early retirement. I'm about as blue collar as you can get! I just started saving young and figured out many ways to grow my savings along the way(0% balance transfers among them). It doesn't matter whether you have a couple thousand or a couple million the same financial rules apply.
111   |     |   Comment #122
# 93 - I'd like to respectfully respond to your assertions that these credit card "arbitrage" procedures are "off-topic", and "sensitive [or let's say, difficult] to do successfully".

This website deals mainly with "deposit accounts". When starting deposit accounts, one thing people have to sort through is of course the different ways such accounts might be funded. Over time, many comments here have touched on funding methods different than simply bringing a bucket of cash to a bank and asking to start a CD or savings account - although, of course, that's one way and I've done that many times.

However another way is, when the rate environment or unexpected personal circumstances dictate, to decide whether to "break" an existing CD and suffer the EWP in order to start a new one would be financially wise. (Now some folks completely refuse to ever do this, and more power to them if that's their choice. But, others do choose to take EWPs into account when starting a CD.) In any case, though, isn't that method of funding possibly "difficult" or "sensitive"? In fact, Ken Tumin's website itself has a couple of online calculators designed to make this very process easier, so at least SOMEONE must think there's some level of difficulty or sensitivity involved!

Yet another way of funding deposit accounts is to consider whether, and at what point in time, to move funds from riskier assets like stocks, bonds (and many other assets), to the relatively safe harbor of CDs or savings accounts. Whatever your personal views on asset allocation between more and less risky assets, whether or not stock picking makes any sense, etc., etc. - the one thing that cannot be said is that these decisions about CD funding are not "sensitive" or difficult" in terms of risk assessment.

So, frankly these credit card procedures are not off-topic because they simply involve ways to fund deposit accounts, and they're no more "difficult to do successfully" than some other methods of funding deposit accounts.
deplorable 1
deplorable 1   |     |   Comment #110
@111: Another strange quirk with NFCU is that when you go to pay off your credit card at the end of the 0% term they only let you pay off $10,000 per day! lol I had to schedule 2 transactions to pay off $20,000 2 days before the 0% rate expired. For $30,000 you would need to allow for 3 days. They actually limit the amount of debt you can pay off with one transfer.
111   |     |   Comment #119
deplorable 1 - Yes, I remember that from the last time I paid one of these off - just about a year ago. I had to do a series of daily $10K ACH payments followed by a "remainder" payment. I've currently got an in-process one that needs to be paid off by 1/31, and another offer for one that can be started after that but before 2/28.
WAB   |     |   Comment #127
Thanks 111 & deplorable 1.
Need to double check, but It was my understanding that transfer checks are viewed as a cash advance (and 0% BT offer does not apply to cash advances).
Did not mention in original post that I have a different CD that will mature in April and will either hold as cash in Ally 2% high yield savings account or open a 11 month no penalty CD (currently 2.3%) to use in payback of BT. May look for a higher paying liquid account. I will push transfer the money to my NFCU checking approximately 2 weeks before BT expires & pay it. PS - I have never paid credit card interest as never been late or short on payments.
deplorable 1
deplorable 1   |     |   Comment #129
@WAB: Most banks do not treat 0% balance transfer checks as "cash advances" but there are always exceptions to the rule. I have run into this a few times which is why I suggested to call and ask before running to the bank and depositing a check just to be safe. Sounds like you already have a plan to pay it off which is good thinking.
Another strategy I use is to find a 0% no fee bt offer that will give you checks NFCU for example and instead of paying it off at the end of the term with cash get another card with a 0% no fee bt that does NOT issue checks(Chase Slate 15 month 0% bt for example) and pay NFCU card off with the Chase Slate by ACTUALLY doing a real balance transfer. This way you never even need to go the credit card over payment route at all. It takes some planning you have to time it just right as you have a limited window of time for the BT's 30-60 days or so and you have to wait for them to post 2-3 weeks.
deplorable 1
deplorable 1   |     |   Comment #91
Just a heads up for folks. While opening up this CD I selected "TRANSFER TO SHARE SAVINGS XXXXX" during the account opening process so I figured I was good to go. Then while opening my first IRA CD(40 mo. 3.75%) with them I went to update the maturity instructions and saw that my 17 month promo CD was still set to auto renew! Same deal for my wife's account.
I thought I would just let everyone know to check your maturity instructions by clicking on the CD and look to the right and there is a "MATURITY INSTRUCTIONS" link. It never hurts to double check so you don't get stuck in some low rate renewal.
Sylvia   |     |   Comment #99
A rep told me it didn't matter what was specified when opening CD -- system would go to default option of auto renewal when CD first appears in account online. I changed mine online to one of the transfer options, however, when I logged back in minutes later, CD was still set to renewal. The change did not register until some time later.

Navy does have a generous grace period of 21 calendar days. During that time, dividends would continue to accrue. It's a nice feature deserving of recognition.
deplorable 1
deplorable 1   |     |   Comment #101
Interest will still accrue at the same terms as the CD for 21 days? That's a great feature I wasn't aware of.
Sylvia   |     |   Comment #106
If you don't bail at maturity, interest would begin accruing at new rate. From disclosures: "You have 21 calendar days after the maturity date to change the conditions under which the Certificate will be renewed. During this period, the balance in the Certificate will earn dividends at the prevailing offering rate. If no changes are made within this period, your Certificate will be renewed as specified in the renewal notice and will continue earning at the prevailing rate.”

This CD is set to auto renew to an 18 month, I believe. Interest rate then could be higher or lower. Grace period of, say, 1 week and forfeiture of interim dividends if you bail are more common.
deplorable 1
deplorable 1   |     |   Comment #109
Thank you for clarifying that Sylvia. I was wondering why I had "extra" interest in my account after I cashed out my first CD with them. At first I thought that maybe it was a error so I left it in the savings account in case they decided to take it back out. Now I fully understand what was going on there. NFCU has some unique terms.
Sylvia   |     |   Comment #111
Sure thing, deplorable. NFCU definitely has their quirks, like awkward restrictions on transfers. All in all, I feel they aim to be on the side of their customers. Setting a CD minimum of only $50, while allowing add-ons, for instance, allows more to participate. Wish we could say that about more financial institutions.
deplorable 1
deplorable 1   |     |   Comment #113
No kidding I feel the same way. With most banks and credit unions I feel like I need to put on a suit of armor and prepare for battle by scouring the fine print in search of all the pitfalls. NFCU is definitely quirky but I like them.
Old Dog
Old Dog   |     |   Comment #105
Anyone familiar with NFCU CD offers:
How often do they offer these CD deals (IRA/non - IRA)?...………
Once a year, every quarter, every time rates rise?
Sylvia   |     |   Comment #108
They have regular promos. The ones that would appeal to DA rate chasers, like this 17 month, tend to be capped. To get a feel, go to chronology of posts for NFCU,
anonymous   |     |   Comment #141
deplorable 1, Sylvia, speaking of maturity instructions ... what are NFCU's options for IRA CDs? Surely we don't want to "cash them out to the savings account" at maturity.

I'm assuming the IRA CD can be transferred to an IRA savings account at maturity, but I don't have this maturity option available yet in the instructions (don't have an IRA savings account established yet at NFCU).
deplorable 1
deplorable 1   |     |   Comment #142
I'm in the same situation and the NFCU rep told me they could:
1. Put it into a Roth/IRA savings
2. Renew into another Roth/IRA CD or CD special(if one is available)
3. Do a direct(trustee to trustee) transfer to another financial institution where you have a existing Roth/IRA thus not creating a taxable event if you are under 59.5.
I think we have to call to update specific maturity instructions for the IRA's as not all
options are available online.
OldDog   |     |   Comment #143
Open an IRA savings (no fee, $0 balance OK)
Have the maturing IRA CD dump to this account
Then do with it as you wish at future date
anonymous   |     |   Comment #154
Re #142, #143, thank you for your information, deplorable 1 and OldDog!
deplorable 1
deplorable 1   |     |   Comment #158
I just found out that All America/Redneck bank has a 2% APY IRA/Roth savings account option and A+ FCU has a 5.12% APY IRA/Roth savings that is capped @ $1,000. The NFCU IRA/Roth savings is only .25% or if you have $2,500 or better you can earn between .80%-.95% for their MMSA.
Sylvia   |     |   Comment #161
deplorable (#158), I think your best hope for IRA CD at NFCU is that they run an attractive add-on CD ahead of maturity, one that you can hold for a nominal amount, and pour in proceeds from maturing CD later. With low rates, their savings accounts make suboptimal parking places.
deplorable 1
deplorable 1   |     |   Comment #164
Right on Sylvia I was just thinking worst case scenario if there were no good deals available near maturity which is still a long way off just thinking ahead. These IRA's can be a bit complicated for those of us used to regular savings/CD's. It appears there is a learning curve so I'm studying up on the rules.
anonymous   |     |   Comment #170
deplorable 1, if CD rates happen to be low at the time of maturity, you could always transfer the IRA to a mutual fund company or brokerage. I did this in 2012 when my 6% IRA CDs matured and invested in a mix of stock and bond funds. Ended up being a pretty good move because when interest rates are low/falling as they were, the stock market tends to do well. Looks like there is a cyclical pattern of what's best to invest in ...
Sylvia   |     |   Comment #172
deplorable (#164), yes, lots of rules to follow, and you’re somewhat dependent on the competency of trustee, making the rates almost secondary, I would think, as a foul-up can be very costly.

NFCU’s disclosure for the Roth runs 10 pages, the traditional IRA 11 pages. For those interested, and
Nothing   |     |   Comment #173
Deplore, Sylvia. +. The real fun is when one is close to the twilight zone, ie between 591/2 and 70 1/2. Planning income and interplay with taxes is crucial to some. For example...when/if converting to Roth’s (and paying taxes on conversion from IRA), leaving some in IRAs for QCDs and taking income to the amount needed to minimize SOC SEC taxes (and when to take it), taking of gov’t (usually state only) pension so as to not be affected by offset in SOC SEC, when to realize lowering expenses really does decrease income needs (and less to pay in taxes), when to quit working as employee AND become self employed and all the Schedule c perks that flow with that, etc. on and on ...suffice to say it’s been a great ride for some through that zone. Their taxes are minimal at most! The most pressing problem (?) for them is the “unneeded” additional interest income with higher rates and taxes! They enjoy the challenge!
Sylvia   |     |   Comment #160
anonymous (#141), I have no experience with NFCU's IRA CDs. I did take a quick look at their disclosures for traditional IRA CDs. The same 21 day grace period applies. If you still have unanswered questions, I suggest posting on the Forum, where subject would not be buried among close to 200 comments, and could stand out more.
anonymous   |     |   Comment #169
Sylvia (#160), I think I have the answer to my question, thank you. I don't mind that my question was buried here because I got very useful answers from you, OldDog, and deplorable 1!
Anonymous   |     |   Comment #112
Why not have the 17 month dividends go back into the CD itself rather than a savings account? You will make more money that way!
Dr Dumb
Dr Dumb   |     |   Comment #114
Slick, but doubt that is legal!
AnnO   |     |   Comment #183
"Slick, but doubt that is legal!"

All CDs are advertised with APYs that take into account the effect of compounding by having the dividends kept in the CD where they continue to earn interest.
deplorable 1
deplorable 1   |     |   Comment #116
Huh? We are talking about after the CD matures at the end of the term not how the dividends are distributed.
99%  Bull !
99% Bull !   |     |   Comment #118
my point has been made
OldDog   |     |   Comment #120
Why do you smart *** 's continue to horn in on all the treads with useless comments!
Cal_Gal   |     |   Comment #121
FYI if anyone is interested they have a branch in West Covina that doesn't show up here, but does on their site. I'm planning to go in person, open the CD for $50, never hurts. Also, an IRA from Penfed is coming due, have a few days to decide on that. CSR checked and rollover also counts for $100 bonus if requirements are met. (see above under IRA bonus) Really feel Penfed went from hero to zero. Only complaint with Navy, is the low max. they have.
Sylvia   |     |   Comment #125
Navy seems to only cap the balance for very attractive promos. You can usually count on them to run their promos for a good length of time. I've never seen them pull a deal, hot or otherwise, after only a week or before word has gotten out, as we've witnessed other CUs do. Navy wants to give everyone a chance to participate is my read on their intentions.
Mak   |     |   Comment #130
120 comments for a 3.25% CD ? Too low a cap don't think I'll bother... I have a couple Mountain America term plus CDs so I'd rather do the 5 year ladder and get the 3.69% and by the time that 3.25% CD matures I'll have had 7 more CDs mature that I will also put in the highest rate and so on and so on...:)
MasterMind   |     |   Comment #135
Great strategy!
Luvcd   |     |   Comment #136
Let's try this scenario in response to "too low of a cap": It was reported a member can have $50K for him/her selves AND another $50K for a trust...thus for a married/member couple...have a minimum of $200K cap. If otherwise then $100K. Right.... "too low a cap" Get serious! If it is, "you" are visiting the wrong websites!
Mak   |     |   Comment #149
Okay. let me try this... too short a term also.... don't want to worry about where to put another CD when it matures in 17 months.
Get Real
Get Real   |     |   Comment #145
Right on MakI remember the comments when Connexus was offering 4% a couple of months ago and people saying were going to get over 4% soon so they weren't going to invest. I opened a large CD as part of my laddering strategy. Some of these people are the ones with "predictions".

I have some funds from a Penfed CD that just matured and some more funds next week from NASA CU. Not eligable for Navy but will keep checking this site for options.
deplorable 1
deplorable 1   |     |   Comment #148
Well 3.75% tax free in a Roth IRA CD with a $100 tax free bonus to boot for only 40 months seems like a better deal than 5-6 years in a 4% taxable CD. Also so does this 3.25% 17 month deal. Remember these are all add-on(rate insurance) CD's so if rates do fall were good. If the FED hikes rates in 2019 and 2020 we could easily see 4-5% CD specials.
Mak   |     |   Comment #131
The 3.75% 40 month they are offering makes more sense to me $150k cap and a better rate..... I don't like such short terms.
Hoody   |     |   Comment #133
If that 40mo was available for everyone, not just IRA'ers I'd open one myself. But if you can do the IRA, why not.
Mak   |     |   Comment #150
I opened one for myself and one for my wife.... will add sooner or later.
Hoody   |     |   Comment #151
Good plan, the rate is a lot better than what we've been through, "could" rates go higher, sure, but they could also remain at this level, or even go lower again.

The alternative I have is to just go with a 3.25 5yr CD with a maximum insured amount that would yeald more on a monthly basis than the 40m @3.75 capped at 150k.

In this area its as good as it is and with my low speed lifestyle it works.
Hoody   |     |   Comment #156
was just told by a rep from the other CU I deal with here that they will let me have the same rate (3.75) for a regular CD :) it maybe a 5yr though, but so what. So will be seeing them soon.

Also figured I have 3 of those 3.1 % CD's coming due in 2 yrs now. so its going to be another interesting time by end 2020 on rates again. I'm just glad I'm getting to the end time and won't need to be all that concerned anymore. Probably won't even bother going out any longer than a year no matter the rate since the medical mafia will have both hands out, smirk.
Darksheep   |     |   Comment #134
What happens when the IRA matures?
Nothing   |     |   Comment #147
What happens when any CD matures? Always have a plan B
pradcliffe   |     |   Comment #181
Husband and I are interested in opening the 17mo. add-on cd for 3.25 APY if it is still available. We would join through his status as a Navy Vet. Questions: Can we fund it through an ACH from our external checking or MM Accounts? At maturity, can we ACH transfer the money back to one of those accounts. And most importantly, does NFCU do a hard or soft pull on our credit? Thanks for your input.
deplorable 1
deplorable 1   |     |   Comment #182
@pradcliffe: Hard pull for me when I joined but I also opened a NFCU AMEX more rewards card at the same time for a 12 month 0% no fee balance transfer and 3% on groceries thereafter. You will need to open a share savings account $5 and ACH transfer funds into the share savings and then to the CD. You may as well open a checking account at the same time though because in order to ACH pull out from a 3rd party bank you can only do this from the NFCU checking. It is totally worth the hard pull IMO as I have already had 4 CD's with them and they regularly run specials with add-on capability.
bindarb4   |     |   Comment #185
Once you have a saving account established you can ACH monies into the account without issue. Once the funds are into the savings account you can open up the certificate on line by transferring the funds from savings to the certificate. FWIW....I would also suggest opening a checking account. Why ? On maturity you can transfer the funds to the checking account. Why checking vs saving account? Based on my experience with Ally bank NFCU does not allow pulling funds via ACH from savings accounts....only from checking. Why? that's the secret NFCU "benefit" that enhances the overall banking experience. The other NFCU benefit is that they do a hard pull just for opening the account....even if you don't get a credit card
deplorable 1
deplorable 1   |     |   Comment #184
Just a update on credit card funding of up to $250. The Citibank rep was WRONG about this coding as a cash advance! It turns out this DOES code as a purchase after all with the Citibank double cash card. Then to add insult to injury Citibank is still trying to charge me $250 after I cancelled this transaction. Now I have to dispute the charge since NFCU sent it back.
Navy Federal Debuts 40-month IRA Certificate Special
Deal Summary: 40-month IRA/ESA Certificate Specials, 3.75% APY), $50 min/$150k max deposit, unlimited additional deposits.

Availability: Nationwide, but with membership requirements (military relationship)

Navy Federal Credit Union (Navy Fed) has a “Featured Products” tab on its Certificate Rates page, which includes an ever-changing array of special products. In addition to its signature 12-month Special EasyStartSM Certificate and a Special 24-Month Certificate (3.00% APY), Navy Fed is currently featuring a Special 40-month IRA/ESA Certificate earning 3.75% APY. This IRA/ESA can be opened with a $50 minimum and is capped...

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Navy Federal Unveils 24-Month CD Special
Deal Summary: 24-month Certificate Special, 3.00% APY, $10k minimum deposit.

Availability: Nationwide, but a military relationship required for membership.

When I last wrote about Navy Federal Credit Union (Navy Fed) in April, I noted that since the 32-month IRA CD Special (2.75% APY) and the 15-month CD Special (2.25% APY) had expired, there hadn’t been any exceptional rates at Navy Fed. As of today, that has changed with the introduction of a 24-month Certificate Special earning 3.00% APY. The minimum opening deposit is $10k, with no stated...

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Navy Fed Adds 5-Year Certificate Special
Deal Summary: Certificate Specials – 5-year (3.00% APY), 18-month (2.25% APY), $1k minimum deposit.

Availability: Nationwide, but with membership requirements (military relationship)

May is Military Month. To mark the occasion, Navy Federal Credit Union (Navy Fed) has added two Certificate Specials: a 5-year (3.00% APY) and an 18-month (2.25% APY). Both can be opened with a $1k minimum deposit, with no stated balance cap. Unlike past Navy Fed Certificate Specials, additional deposits are not allowed.

Note: While the promotion page states "Minimum deposit $1k up to...

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Navy Fed Offers New Special Certificates

Deal Summary: 2.25% APY 15-month add-on CD, Maximum deposit $50k. 2.75% APY 32-month add-on IRA CD, Maximum deposit $250k.

Availability: Requires a connection to the military.

Navy Federal Credit Union (Navy Fed) has come out with two high-rate add-on certificate specials: a 15-month share certificate and a 32-month IRA Certificate. The 15-month share certificate has a 2.25% APY and a $50k maximum balance. The 32-month IRA certificate has a 2.75% APY and a $250k maximum balance. Both have a minimum deposit of only $50, and both have an add-on deposit feature...

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Navy Fed’s New Competitive Special Certificate: 5-Month ($10K Max)

Deal Summary: 3% APY 5-month add-on CD, Maximum deposit $10k.

Availability: Requires a connection to the military.

Navy Federal Credit Union’s (Navy Fed) has come out with another high-rate add-on certificate special. This new one has a 3.00% APY with a term of 5 months. The downside is a maximum balance of only $10k. Thus, if you’re not already a Navy Fed member, this special may not be worth the effort. However, if you’re already a Navy Fed member with enough extra cash sitting in savings or checking accounts, this is...

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