By NASA Federal Credit Union offers an expansive array of banking products and services, as well as access to thousands of surcharge-free ATMs nationwide. Their mobile app makes banking convenient.
Unique to this credit union are its prepaid debit cards and mortgages with zero down payments for first-time homebuyers, while credit card rates remain competitive. Furthermore, there are 14 branches throughout Washington D.C. area accepting membership as nonprofit organizations or directly.
Low interest rates on checking and savings accounts
NASA Federal Credit Union offers several competitive checking and savings accounts. Their Premier Checking account features no monthly maintenance fee for those with combined NASA FCU balances of $2,500 or greater, free Bill Pay+ subscription, one free box of checks per year, Direct Deposit, fee-free overdraft line of credit and free transfers from savings accounts in case of negative balances.
Their Premier eChecking account offers additional advantages by automatically depositing paychecks or other recurring checks directly into your NASA Federal account; plus EarlyAccess Payroll gives access up to two days earlier!
NASA FCU provides competitive money market accounts with competitive yields. They also offer five different certificate of deposits (commonly known as share certificates in credit union terminology), each yielding high rates of return. Plus they have other savings and retirement accounts like IRAs, mutual funds and annuities available as well.
Credit unions also offer various loans, from mortgages and personal loans to auto loans at competitive market rates, with minimum loan amounts starting as low as $1,000. They provide online banking tools as well as their mobile app that’s available both for Apple and Android devices.
If you’re considering changing banks, it is essential that you carefully explore all of your options before making a choice. There are numerous national banks to select from but credit unions can often offer better rates and reduced fees than their national bank counterparts as well as offering services and benefits unavailable elsewhere.
NASA FCU is a federally chartered credit union regulated by the National Credit Union Administration (NCUA), with deposits protected to an aggregate limit of $250,000 per individual member.
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Membership of NASA FCU is open to anyone working for qualifying nonprofit organizations or companies that partner with it; joining is easy, and when opening an account you receive one year free affiliate membership in National Space Society educational non-profit organization as an additional benefit!
No overdraft protection
NASA Federal Credit Union offers banking products to its members, including checking and money market accounts, business services (such as credit cards and lines of credit) as well as mobile and online banking, mobile phone banking and financial education programs.
Unfortunately, the credit union does not provide overdraft protection on checking or savings accounts, like many banks do. While this feature can help people avoid overdraft fees more easily, it is also important to remember there are other ways of avoiding overdrafts altogether.
The credit union boasts several locations statewide and membership is easy. Membership is open to employees and retirees of NASA headquarters, the National Aeronautics and Space Administration (NASA), other NASA centers, partner companies and associations; anyone accepting complimentary affiliated membership of the National Space Society may become part of its ranks and thus join this credit union.
NASA Federal is the largest credit union in Maryland and 70th in the US. Established in 1949, NASA Federal boasts assets exceeding $5 billion insured by the National Credit Union Administration with approximately 200,000 members based out of Upper Marlboro and offering checking/saving accounts, auto loans, credit cards and other banking products to their members.
Nasa Federal Credit Union Bank offers among the lowest interest rates on checking and savings accounts, offering just 0.05% annual percentage yield (APY) with its checking account, while savings account yield only 0.18% APY – not exactly optimal returns considering there are other credit unions with better rates!
NASA Federal’s other shortcoming is that they do not offer overdraft protection on checking accounts – an increasingly common omission among credit unions, which can be disappointing to customers in need of this service. Other credit unions, like Lake Michigan Credit Union and CommunityWide Federal Credit Union offer higher APYs on savings and checking accounts respectively.
Lack of locations
Finding the ideal bank can be daunting. From large national banks to credit unions – both offer similar services with typically better rates – and NASA Federal Credit Union stands out among them with 14 of its own branches as well as access to over 5,600 shared credit union locations and thousands of surcharge-free ATMs.
NASA Federal Credit Union, as one of the nation’s largest credit unions, offers an impressive selection of banking products and services, such as checking accounts, savings accounts, money market accounts and certificates of deposit.
They also offer loans such as auto and mortgage. Furthermore, members have access to numerous online services like mobile banking, eStatements and bill pay.
NASA Federal is known for having an impressive digital presence, and their app offers unique features that set them apart from most credit unions.
These features include being able to see credit scores and finances at a glance, lock and unlock cards in case they are lost or stolen and biometric app log-in. Furthermore, NASA Federal boasts one of the country’s largest ATM networks as well as mobile ATMs located across their vast ATM network.
High overdraft fees
If you’re seeking a safe place for your money, credit unions could be the right place for you. They provide many advantages over banks in terms of rates and benefits; however, their overdraft fees may be higher. Before opening a checking account at one, make sure that their terms on overdraft fees are clear before signing on with them.
There’s good news: there are credit unions that do not charge overdraft fees at all – in California state-chartered credit unions alone, 10% report no overdraft fees while 20% indicate that overdraft charges make up only a minor percentage of total net earnings.
Unfortunately however, overdraft fees still represent a significant source of revenue for some smaller credit unions.
Overdraft fees can be predatory and turn emergency cash into nearly pure profit for banks or credit unions that charge them. They’re especially harmful for people living paycheck-to-paycheck who often find themselves without enough funds when emergencies arise.
Two years ago, I helped bring attention to this issue, leading to many of America’s largest banks cutting overdraft fees by more than 50% since then – saving $5 billion dollars worth of emergency cash!
NASA Federal Credit Union offers various accounts, from checking to savings and money market accounts. Their checking accounts earn rewards on debit card purchases while members can access direct deposits up to two days early with EarlyAccess Payroll. They also boast a free ATM network featuring thousands of surcharge-free ATMs; in addition to share certificates and high-interest CDs.
NASA Federal Credit Union was first established in 1949 and currently based out of Upper Marlboro, Maryland.
Membership to this credit union is open to NASA employees and their family members as well as people working for any of the partner companies or associations of which it is part. Membership to National Space Society – its sponsor – comes free with membership; branches can be found throughout Maryland, Virginia and DC.
NASA Federal Credit Union
NASA Federal Credit Union offers members an impressive range of high-yield CDs that rival those available through online banks, all for just a minimum deposit of $10,000.
NASA Federal Credit Union was originally intended to serve NASA employees. But now anyone can join for free through obtaining a nonprofit membership.
What is a Share Account?
NASA Federal Credit Union offers many of the same banking features found at banks, including online banking, mobile app access, remote deposits, eStatements and free ATMs nationwide.
Credit unions offer more than checking and savings accounts; they also provide money market and certificate-secured loans with competitive interest rates and flexible terms that often beat what would be found at banks.
Initial deposits required to open a share account at a credit union can range between $5 and $50; it’s an essential first step toward becoming a member and taking advantage of all its benefits. Once you join, you can open checking or savings accounts, apply for loans, set aside retirement savings in an IRA account, earn higher interest rates through share certificates similar to certificates offered by banks, and more!
What is a Money Market Account?
NASA Federal Credit Union offers its members a selection of banking products and services. With 14 branches throughout Maryland, Virginia and DC as well as over 56,000 surcharge-free ATMs nationwide, NASA Federal Credit Union offers checking, savings and money market accounts as well as CDs with competitive yields to meet members’ banking needs.
Money market accounts (MMAs) combine elements of both savings and checking accounts to provide higher interest rates than traditional savings accounts, but with limited withdrawal options – an ideal choice for short-term goals like saving for weddings or college tuition costs.
For you to open a money market account (MMA), a minimum balance requirement will vary based on the bank or credit union in which it will reside. Before choosing an MMA, be sure to research their interest rates, fees and features as well as make sure it is FDIC-insured just like savings or checking accounts are.
What is a Share Certificate?
Share certificates are an alternative form of savings account with higher interest rates than traditional savings accounts, making them an excellent way to save for long-term goals and help you earn more than would be possible through traditional savings accounts.
Credit unions also provide similar products known as certificates of deposit (CD), which are insured by the National Credit Union Administration, an agency of the US government. Both CDs and share certificates feature fixed terms with regular interest payments at a set rate known as dividends.
Credit unions are non-for-profit institutions run by volunteer boards of directors. Since they are member-owned institutions, profits from credit union operations are distributed among members – considered shareholders – who then reinvest dividends back into the institution to increase savings rates and provide additional services such as mobile banking, remote deposits, eStatements and bill pay for members.
What is a Share Loan?
NASA Federal Credit Union offers many innovative features that allow its members to get the most out of their money, such as mobile banking, remote deposits, eStatements and online bill pay. Furthermore, this credit union offers numerous deposit and lending solutions including low-interest credit cards and first-time home buyer mortgages.
One of the most sought-after credit union products is a share secured loan, enabling members to borrow against their savings using that sum as collateral. This type of loan is ideal for people without great or any credit histories at all; over time it will help build it up gradually. Furthermore, as it uses funds directly held by the credit union as collateral it often offers faster approval and lower interest rates than loans and credit cards designed specifically to build credit scores.
What is a Share Secured Loan?
When it comes to managing your funds, there are multiple strategies available. Not only can you store them in online savings accounts or checking accounts; you could also invest in mutual funds or take out loans from a credit union.
Share-secured loans provide a way for borrowers to borrow against their own savings without needing a credit check, with instant approvals. They are ideal for first-time borrowers or those with bad credit as they establish on-time payment records that will help build or rebuild credit histories.
One advantage of taking out a share-secured loan is its lower interest rates; however, you should bear in mind that you’re borrowing against your savings and could risk losing it all if payments are missed. Therefore, only take out such loans if you know you can comfortably make repayments on time.
What is a Share Secured Line of Credit?
NASA Federal Credit Union offers an impressive range of banking products and services, from unique credit cards to competitive savings account rates. In addition, there is an impressive array of loans including auto, mortgage, student, personal and more – as well as robust online offerings such as mobile banking, remote deposit, eStatements and bill pay – offering exceptional banking experiences for its members.
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Credit unions typically offer lower minimum loan amounts and below-average interest rates to borrowers with excellent credit, and also offer useful features like skip-a-payment to help those having trouble keeping up with payments.
Credit Union of Washington D.C. operates 14 of its own branches throughout the greater D.C. metropolitan area and allows members access to 5,600 shared branches and 36,000 surcharge-free ATMs nationwide. Checking accounts include cash back debit cards that allow for up to $250 of annual earnings, EarlyAccess Payroll for early paycheck access two days earlier than payday, as well as cash back debit cards that offer up to $100 yearly cash rewards.
What is a Share Secured Credit Card?
NASA Federal Credit Union serves members in Maryland, Virginia and DC at 14 locations and over 5,600 surcharge-free ATMs across the nation since 1949. They provide loans, credit cards and deposit accounts to help members achieve their financial goals.
NASA’s Share Secured Visa card offers an ideal solution for those looking to build or reestablish their credit history. Your account funds secure its credit limit, with payments reported to all three credit bureaus. Furthermore, NASA offers a skip-a-payment feature and mobile app for easy account management.
NASA offers a competitive credit card option; however, it should be kept in mind that certain services such as checking account maintenance and overdraft fees incur fees which could make this lender more costly than others. Furthermore, their minimum interest rate and maximum loan amount is somewhat average and low respectively.
What is a Share Secured Credit Card with Rewards?
Credit unions typically offer multiple credit card products, including share secured cards. These cards provide a way for those looking to build or rebuild their credit to do so while not qualifying for an unsecured card, with low introductory APR on balance transfers and no annual fee – plus come equipped with credit protection policies that can cancel loan payments (up to the contract’s maximum) in case they die, become disabled, or involuntarily lose their job.
Cardholders can apply online or visit one of the credit union’s branches – it has 14 in the D.C. area alone, plus access to 5,600 shared branches and 36,000 fee-free ATMs nationwide.
NASA Federal can often offer more competitive rates than national banks on a range of products, such as checking and savings accounts, loans and money market accounts. Furthermore, NASA Federal offers competitive mortgage rates to first-time home buyers.
What is a Share Secured Credit Card with No Rewards?
Finding a safe place for your funds to reside is of utmost importance, and there are various banks available. Many people turn to large national banks; however, credit unions also provide benefits and rates of return that can provide value-for-money solutions.
NASA Federal Credit Union was established in 1949 and stands out for its competitive share certificate rates (the credit union equivalent of Certificates of Deposit), excellent mobile apps, and robust third-party ATM network. Unfortunately, though, it also charges steep overdraft fees when payments drop your account balance below zero.
Premier Preferred Checking from Citizens Bank requires a minimum $2,500 balance to waive its monthly fee and earn interest on those balances, with free checks. They offer outstanding customer service by phone and email as well as prequalify for loans with predicted loan rates, limits and fees through their website tool.
