Monday, October 02, 2006

Northrop Grumman Federal Credit Union Update, Rates Back up Over 6%

After dropping below 6% apy for awhile, rates have gone higher at Northrop Grumman Federal Credit Union. The credit union is currently offering 6.2946% apy on a 3 year Bonus IRA certificate with a minimum deposit of $40,000. They also are offering 6.0939% apy on a 4 year Bonus IRA certificate and 6.0727% apy on a 5 year Bonus IRA certificate. Regular 3 year IRA certificates with a minimum deposit of $2,000 earn 6.0305% apy. Field of membership in this credit union is offered to Northrop Grumman employees, retirees, and their family among others. For those who don't otherwise qualify for membership in Northrop Grumman Federal Credit Union, prospective members can become eligible through membership in the Southern California Historical Aviation Foundation (SCHAF). Membership in SCHAF is $25.


At 1:53 PM, Anonymous Anonymous said...

FYI - I was not allowed to open up an IRA Certificate account with NGFCU after they did a hard credit pull. Like many readers the past two months I have opened up new CD accounts with 5 different banks & credit unions across the country.

NGFCU did not buy into my explanation of the sudden increase in credit inquiries(they do expire after one year - my credit rating will recover afterwards).

The interesting thing is that I DO NOT have a mortgage on my home and have a very small credit card balance. No debt, just a bunch of inquiries which somehow made a financially strong credit union not want my $80k in new funds.

Oh well, now NGFCU is offering 6% CD rates again and I am thinking about giving it another go since the Pentagon and Ft. Belvoir Credit Unions rates have dropped. But, fear another rejection.

At 9:14 AM, Blogger credituniondeals said...

Sorry to hear about your difficulty. I would check with them to make sure they are referring to your credit report. I've heard of people getting denied for having too many inquiries on their Chexsystems reports in the past, which is something different. Perhaps this is what NGFCU was referring to? If you've been denied opening up a new deposit account, I would request a free report from Chexsystems.


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