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NASA Federal Credit Union Review: A Solid Place to Establish a Banking Relationship

Review Updated
Matt Frankel, CFP®
Author: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®

Matt Frankel, CFP, has been a contributing writer, analyst, and personal finance expert for The Motley Fool since 2012.

Prior to The Motley Fool, Matt was a mathematics professor and high school math teacher.

He holds a B.S. in Physics from University of South Carolina; a M.S. in Mathematics from Nova Southeastern University; and a Graduate Certificate in Financial Planning from Florida State University.

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Ashley Maready
Fact Checked: Ashley Maready
Ashley Maready
Ashley Maready
Writer and Editor

Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

NASA Federal Credit Union is a national credit union that serves over 200,000 members nationwide, and not just NASA employees. The credit union offers a wide variety of banking products and services, including some of the highest-yielding CDs on our radar. Read our full review to see if NASA Federal Credit Union could be a good fit for you.

Offer image for
Federally insured by NCUA.

NASA Federal Credit Union

Bottom Line

NASA Federal Credit Union is a standout when it comes to CDs, credit cards, and mortgages, but its savings accounts don't quite measure up to online competitors. Even so, if you're looking for an all-in-one banking solution, NASA FCU could be a solid choice.

Pros
  • Excellent CD (share certificate) products
  • Unique low-interest credit cards
  • Great mortgage for first-time home buyers
  • Excellent checking account for high balance customers
Cons
  • Savings accounts aren't competitive

NASA Federal Credit Union savings account

NASA Federal Credit Union offers savings and money market accounts, so let's look at how they stack up.

NASA Federal Credit Union Prime Savings

NASA Federal Credit Union's main savings account is known as the Prime Savings. There are a few other specialized savings account products, such as an account designed to save for the holidays, but this is the bank's general savings account.

Ratings Methodology
Rates as of Jan 31, 2025

NASA Federal Credit Union Prime Savings

Federally insured by NCUA.
APY
0.10%
Min. To Earn APY
$0.01
  • $5 minimum balance requirement
  • No monthly maintenance fees
  • Lots of branches and ATM locations
  • Low interest rates

NASA Federal Credit Union's main savings account is known as the Prime Savings. It can be opened with as little as $5 and has no monthly maintenance fees; however its interest rates aren't competitive with most online-based high-yield savings accounts, or even with some other brick-and-mortar credit unions.

NASA Federal Credit Union Money Market Accounts

NASA Federal Credit Union also offers money market accounts (MMAs). Technically, this is a different type of bank account, but it can allow savers with higher balances to get better interest rates.

The credit union currently offers three different MMAs, the Premier Money Market, the Premier Advantage Money Market, and the Premier Plus Money Market. Each of these accounts differs in minimum deposit requirements and APY on offer. The Premier Money Market has a minimum opening deposit of $10,000 and average daily balances of $10,000 and up earn a set APY. The Premier Advantage requires $25,000 to open and has three tiers of APY depending on your average daily balance. You must have a minimum opening deposit of $40,000 to open the Premier Plus, and average daily balances of that amount and higher earn a set APY.

Be sure to check NASA FCU's website for current rates and conditions if you're interested in one of these money market accounts.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of January 31, 2025. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 3.80%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

NASA Federal Credit Union CD accounts

NASA Federal Credit Union offers five different types of CDs, which in credit union terms are referred to as share certificates. Both have competitive yields. To be clear, share certificates are an area where NASA FCU shines.

Share Certificates

NASA FCU's share certificates come in a variety of maturity terms ranging from six months to five years. They require a $1,000 minimum deposit to open, and the bank allows depositors to withdraw the interest they're paid at any time without penalty (Note: This is true for all five types of share certificates.)

NASA FCU's share certificate yields are highly competitive, even with online banks.

High-Yield Certificates

NASA FCU offers share certificates in three maturity terms (nine months, 15 months, and 49 months) that offer higher yields than the credit union's other CDs of comparable maturities. The biggest drawback is that the high-yield certificates have a much higher $10,000 minimum deposit requirement, but for savers who have enough cash to open one, these are very competitive time deposit products.

Premier Bump-Rate Certificates

NASA FCU offers Bump-Rate Certificates in 24- and 36-month terms that allow for a one-time interest rate increase request during the term. Think of these as insurance against rising interest rates. For example, if you open a Bump-Rate certificate with a 4% yield and a year later, NASA FCU is advertising a 6% rate, you can request a one-time adjustment.

Add-On Certificates

Most other CDs and certificates offered by banks and credit unions don't allow for additional contributions during the term, which is what makes NASA FCU's Add-On Certificates such a unique product. These 1-year certificates have high yields and a $250 minimum opening deposit, and savers can add up to $2,500 per month during the term.

Early Savers Certificates

While the bank's other certificates have minimum deposit requirements of $1,000 or more, NASA FCU offers certificates with a minimum $50 opening requirement to members age 23 and younger. These are only offered in one-year terms, but pay competitive interest rates and have the unique feature that account holders can make additional contributions at any time during the term.

While NASA FCU share certificates are generally competitive, be sure to check the bank's website for current offer details.

Compare CD rates

NASA Federal Credit Union's CD rates are highly competitive, especially when it comes to its high-yield certificates. However, all of its CD products have yields comparable to the top online banks, and there aren't many other banks or credit unions that offer as many unique certificates.

Rates as of Jan. 30, 2025
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.35% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

NASA Federal Credit Union checking accounts

NASA Federal Credit Union offers three main types of checking accounts, each designed for a specific type of customer.

NASA Federal Credit Union Premium Checking

All three of NASA Federal Credit Union's checking accounts have some common benefits, such as a cash back debit card that can earn up to $250 per year on purchases. The bank also offers EarlyAccess Payroll to its checking customers, giving access to direct deposits up to two days before payday.

The Premier Checking account is designed to be a solid checking account for most of the credit union's customers. It has no monthly maintenance fee for customers with combined NASA FCU balances of $2,500 or more ($7 otherwise).

Ratings Methodology
Rates as of Jan 31, 2025

NASA Federal Credit Union Premium Checking

Federally insured by NCUA.
APY
N/A
Min. To Earn APY
N/A
  • Cash back debit card
  • Early access to payroll deposits
  • Monthly fee
  • Doesn't earn interest

The NASA FCU Premium Checking account is a good product for customers who aim to establish a relationship with the credit union.

NASA Federal Credit Union Everyday Checking

The Premier eChecking account is ideal for NASA FCU members who plan to have their paychecks directly deposited. There are no monthly maintenance fees for customers who use direct deposit or Online BillPay+, and customers get one free box of checks each year.

Ratings Methodology
Rates as of Jan 31, 2025

NASA Federal Credit Union Everyday Checking

Federally insured by NCUA.
APY
N/A
Min. To Earn APY
N/A
  • No maintenance fee with direct deposit
  • Free online bill pay
  • Cash back debit card
  • Free checks
  • Early payroll direct deposit access
  • Doesn't earn interest
  • $8 monthly fee if requirements aren't met

The Premier eChecking account is designed for customers who are willing to set up direct deposit or use online bill pay. It also comes with free checks, a cash back debit card, and early access to payroll direct deposits.

NASA Federal Credit Union Elite Checking

The Premier Preferred Checking account is designed for NASA FCU's higher-balance customers. Unlike the Premier Checking account, which takes all NASA FCU balances into consideration, the Premier Preferred Checking account requires a $2,500 average daily balance in the checking account itself to avoid a monthly fee.

For customers who qualify, the account comes with all of the previously discussed benefits, and also earns interest (dividends in credit union terms) on balances.

Ratings Methodology
Rates as of Jan 31, 2025

NASA Federal Credit Union Elite Checking

APY
Up to 1.00% Rate info Circle with letter I in it. Earn a dividend of 1.00% APY
Min. To Earn APY
$0
  • Earns a competitive APY
  • Cash back rewards debit card
  • Early payroll access
  • Free checks
  • Free online bill pay
  • $2,500 minimum balance to avoid fees
  • $9 monthly maintenance fee if balance requirement isn't met

The Elite Checking account is a solid product for those who can keep over $2,500 in their checking account. It earns a competitive APY on balances and has several other valuable perks, such as free online bill pay and early access to direct deposits.

Compare checking accounts

We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.

Account APY Promotion Next Steps
0%
Min. to earn: N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
Open Account for Discover® Cashback Debit

On Discover Bank's Secure Website.

up to 1.10%
Min. to earn: $1
High APY when you complete 10 or more qualifying debit card purchases each month

NASA Federal Credit Union customer service and experience

NASA Federal Credit Union offers customer service by phone from 8 a.m. to 6 p.m. ET on weekdays and 9 a.m. to 2 p.m. on Saturdays. It also offers help through email. But one of the big differentiators is the wide availability of in-person help.

NASA Federal Credit Union has 14 of its own branches, located throughout the D.C. metropolitan area. However, customers can access 5,600 shared credit union branches nationwide and more than 36,000 fee-free ATMs. So, even if you don't live near any of the credit union's own branches, you can still likely enjoy branch-based banking convenience.

NASA Federal Credit Union relationship benefits

One of the biggest reasons to join a credit union is for the relationship benefits. NASA Federal Credit Union members get access to the credit union's wide variety of banking products and services, including unique products like its low-interest credit cards and 0% down first-time home buyer mortgages.

NASA Federal Credit Union also has an excellent Membership Rewards program with four tiers, depending on the customer's combined account balances. The base (Bronze) tier gives some valuable benefits, including three free non-network ATM transactions, and higher tiers -- Silver, Gold, and Platinum -- add additional perks such as free cashier's checks, notary services, and more.

Alternatives to NASA Federal Credit Union

There's no financial institution that is ideal for everyone, so here are a couple of alternatives to consider.

Alliant Credit Union

If you aren't worried about in-person branch access, online-only Alliant Credit Union could be worth a closer look. It offers competitive savings yields, high-yield CDs, and an interest-bearing checking account with no minimum balance requirement. It also has some highly competitive credit card products, competitive auto loans, and more.

Capital One Bank

If you want the convenience of a branch-based bank with higher interest rates than most of them offer, consider Capital One. It has a high-yield savings account that is competitive with online offerings, excellent CDs with no minimum balance, and a fantastic no-fee checking account.

Of course, if neither of these fit your needs, check out our full list of bank reviews to find the ideal bank for you.

Is NASA Federal Credit Union right for you?

If you're looking for an all-in-one banking relationship, NASA Federal Credit Union could be worth a look. Some of its features (like its savings account rates) aren't too competitive, but it shines in a few areas -- especially its share certificate yields and unique lending products.

Other products by NASA Federal Credit Union

In addition to savings, checking, and CD products, NASA Federal Credit Union offers a wide variety of banking products and services.

  • Auto loans
  • RV loans
  • Student loans
  • Personal loans
  • Home equity loans
  • IRAs
  • Health savings accounts (HSAs)

NASA Federal Credit Union credit cards

  • Visa Platinum Advantage Rewards: Below-average interest rates on purchases and balance transfers and rewards points that can be redeemed in several ways.
  • Visa Platinum Cash Rewards: 1.5% cash back on all purchases.
  • Visa Classic: No rewards, but a low fixed interest rate.

NASA Federal Credit Union mortgages

  • Conventional mortgages
  • FHA loans
  • VA mortgages
  • Reverse mortgages
  • Refinancing mortgages
  • First-time home buyer loans: NASA Federal Credit Union offers mortgages with $0 down and no PMI for first-time buyers.

Our bank and credit union methodology

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • Yes. If you aren't an employee of NASA or one of the credit union's 900 partner companies, you can still join. National Space Society (NSS) members are eligible to join, and the credit union will simply give you a free one-year NSS membership if you open an account.

  • NASA Federal Credit Union is a member of the National Credit Union Administration (NCUA), which is the credit union equivalent of the FDIC. As such, savings are federally insured for up to $250,000 per person.

  • Yes, NASA Federal Credit Union offers a range of business banking products and services, including business checking and savings accounts, business loans, credit cards, and commercial real estate financing.