Navy Federal Credit Union CD Rates

Not for profit, not for charity, but for service — here comes Navy Federal Credit Union for providing lifetime financial services. It’s more than a bank. Its focus is not on profits, but to facilitate its members with economic independence. It’s the world’s largest credit union with 2,964,077 members’ and assets worth $31,455,192,087. Their Member’s Savings amount to $23,929,252,597 with Reserves of $3,350,366,410. These figures have been noted from the Operating Statistics as of September 30, 2007.

They are offering Share Certificates. They have five programs under this:
1. EasyStart Share Certificates
2. Share Certificates
3. Jumbo Certificates
4. Money Market Certificates
5. Custom Club Account

On purchasing EasyStart Share Certificates* you can make a minimum deposit of $100 for one year and earn a Dividend rate of 4.74% having an APY of 4.85%.

On purchasing Share Certificates* you can make a minimum deposit of $1,000 for one year and earn a Dividend rate of 4.74% having an APY of 4.85%. If you lock in the same funds for 7 years then you can earn a dividend rate of up to 5.02% having an APY of 5.15%.

On purchasing Jumbo Share Certificates* you can make a minimum deposit of $100,000.00 for a period of 6 To 11 Months and earn a Dividend rate of 4.93% having an APY of 5.05%. If you lock in the same funds for 60 to 84 Months then you can earn a dividend rate of up to 5.31% having an APY of 5.45%.

On purchasing Money Market Certificates* you can make a minimum deposit of $2,500 for a period of 13 weeks and earn a Dividend rate of 3.32% having an APY of 3.38%. Under this certificate you can increase the minimum amount of funds to $10,000, or $100,000 as well. If $100,00 is locked in for a period of 13, 26 or 39 weeks it would earn a dividend rate of up to 3.97% having an APY of 4.05%.

On purchasing Custom Club Account Certificate* you have to make a minimum deposit of $5. The lock in period for your funds is of 3 months up to 5 years. Between these periods you can choose your own maturity date. This account gives you complete flexibility and freedom.

With the above certificates you can lock in your money for a predetermined maturity period and earn dividends at higher rates than your share savings accounts. Navy Federal’s Field of Membership is accredited by NCUA – National Credit Union Administration. You can apply for its membership now. It provides Safety and Soundness Guarantee to all its members.

You can check their Eligibility Checklist at this page: http://www.navyfcu.org/about/membership_eligible.html. If eligible you can apply for membership by filling the online membership form given at this page: http://www.navyfcu.org/about/membership.html.

*The rates are as applicable on 11.12.07.