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frontpage Posted by JoeS6345 • Jan 12, 2023
frontpage Posted by JoeS6345 • Jan 12, 2023

Navy Federal Credit Union Members: 15-Month Share Certificate

($50 minimum deposit)

5% APY

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Deal Details
Navy Federal Credit Union is offering its Members: 15-Month Share Certificate at 5% APY with minimum $50 deposit.

Thanks to Community Member JoeS6345 for posting this deal.

Note: You must be a Navy Federal Credit Union member to participate in this deal. Click here for membership eligibility info and here for membership application. See Deal Editor's Notes for additional terms & conditions.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Limit one Special 15-Month Certificate (Share Only) per member.
    • This offer, including the stated Annual Percentage Yield (APY), is effective as of January 9, 2023.
    • Navy Federal reserves the right to end or modify this offer at any time. Excludes IRA and ESA certificates.
    • The Special 15-Month Certificate (Share Only) has a $50 minimum balance and a $250,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance.
    • Dividends earned are not included in the maximum balance allowed. Once the promotional rate is applied to a purchased certificate, it will remain in effect for the length of the product term. Penalties apply for early withdrawals from certificate accounts. Other restrictions may apply.
  • About this product:
    • A share certificate is similar to a certificate of deposit (CD) but is issued by a credit union rather than a bank. Like a CD, they're issued for a fixed period of time—generally between 3 months and 7 years. They also earn slightly higher dividends than other savings options. Another advantage of certificates is they provide a safe and secure way to grow your money, regardless of market fluctuations.
  • About this Credit Union:
    • Navy Federal Credit Union is federally insured by the NCUA. More info here.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by JoeS6345
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Navy Federal Credit Union is offering its Members: 15-Month Share Certificate at 5% APY with minimum $50 deposit.

Thanks to Community Member JoeS6345 for posting this deal.

Note: You must be a Navy Federal Credit Union member to participate in this deal. Click here for membership eligibility info and here for membership application. See Deal Editor's Notes for additional terms & conditions.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Limit one Special 15-Month Certificate (Share Only) per member.
    • This offer, including the stated Annual Percentage Yield (APY), is effective as of January 9, 2023.
    • Navy Federal reserves the right to end or modify this offer at any time. Excludes IRA and ESA certificates.
    • The Special 15-Month Certificate (Share Only) has a $50 minimum balance and a $250,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance.
    • Dividends earned are not included in the maximum balance allowed. Once the promotional rate is applied to a purchased certificate, it will remain in effect for the length of the product term. Penalties apply for early withdrawals from certificate accounts. Other restrictions may apply.
  • About this product:
    • A share certificate is similar to a certificate of deposit (CD) but is issued by a credit union rather than a bank. Like a CD, they're issued for a fixed period of time—generally between 3 months and 7 years. They also earn slightly higher dividends than other savings options. Another advantage of certificates is they provide a safe and secure way to grow your money, regardless of market fluctuations.
  • About this Credit Union:
    • Navy Federal Credit Union is federally insured by the NCUA. More info here.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by JoeS6345

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Top Comments

caligurl29
173 Posts
30 Reputation
they have a calculator on their information page: https://www.navyfederal.org/makin...lator.html

$10,000 gets you $10,644 at maturity.

the sick part, if you click the show details tab.... the effing government is going to take aprox $205 of that in taxes when you file....
BluFalcon
560 Posts
476 Reputation
It's all members of the military and DoD + their families. Not just Navy.
chuck4rooke
1894 Posts
1380 Reputation
I was told there would be no math.

258 Comments

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Jan 12, 2023
3,909 Posts
Joined Dec 2006
Jan 12, 2023
gabrielh
Jan 12, 2023
3,909 Posts
Quote from BluFalcon :
It's all members of the military and DoD + their families. Not just Navy.
And employees and their families.
Pro
Jan 12, 2023
14,207 Posts
Joined Dec 2015
Jan 12, 2023
Spaceman6969
Pro
Jan 12, 2023
14,207 Posts
Quote from gabrielh :
What do you mean month from now? It's annual percent yield locked for 15 months. So your $1000 will get you $63 profit
You said it best. Sorry for not being clear.

That $63 in profit is so small idk if it worth doing so.

Obviously if someone do $10,000 for example then I can see the appeals.

The reason why I said $1000 is because the average American typically saves $400 according to sources. As we head to possible recession, I thought maybe the average American would put more $ in saving. Guess I'm wrong here.
4
Pro
Jan 12, 2023
14,207 Posts
Joined Dec 2015
Jan 12, 2023
Spaceman6969
Pro
Jan 12, 2023
14,207 Posts
Quote from luniz97 :
If you put in 100k, you will have 106,136.77 by the end of 15 months.
Exactly but let be realistic. How many folks that has kind of $ readily available? Us American aren't culturally known for savings.
6
Pro
Jan 12, 2023
14,207 Posts
Joined Dec 2015
Jan 12, 2023
Spaceman6969
Pro
Jan 12, 2023
14,207 Posts
Am I doing this formula correctly?

$10,000.00 (for example) * 0.05 = $500.00 in profits at month #15?
4
Jan 12, 2023
870 Posts
Joined Nov 2010
Jan 12, 2023
luniz97
Jan 12, 2023
870 Posts
Quote from Defensivetackle99 :
Exactly but let be realistic. How many folks that has kind of $ readily available? Us American aren't culturally known for savings.
I know many people who do have it and its not a very attractive offer unless your super risk adverse. Vanguard is giving 4%+ with no tie up.

Also, if you are barely putting in any money, then iBonds...
1
Jan 12, 2023
2,180 Posts
Joined Nov 2014
Jan 12, 2023
TurtlePerson2
Jan 12, 2023
2,180 Posts
This is the first time one of these CD threads has actually offered a better return than similar duration treasury bonds. If you live in a state that doesn't tax your income >10%, then you're better off with this CD than with a treasury bond.

It's too bad that the rate is only available for a limited group.
Jan 12, 2023
3,988 Posts
Joined Jun 2009
Jan 12, 2023
LeviathanUltima
Jan 12, 2023
3,988 Posts
5% is nice, but I think in 6 months the t-bill yeilds will be around that or more. It is 4.5% APR for the 2 months already.
1

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Jan 12, 2023
173 Posts
Joined Nov 2017
Jan 12, 2023
caligurl29
Jan 12, 2023
173 Posts
Quote from Defensivetackle99 :
Am I doing this formula correctly?

$10,000.00 (for example) * 0.05 = $500.00 in profits at month #15?
they have a calculator on their information page: https://www.navyfederal.org/makin...lator.html

$10,000 gets you $10,644 at maturity.

the sick part, if you click the show details tab.... the effing government is going to take aprox $205 of that in taxes when you file....
3
Jan 12, 2023
173 Posts
Joined Nov 2017
Jan 12, 2023
caligurl29
Jan 12, 2023
173 Posts
i took advantage of this. i had some money that i was intending to put in a few CDs but when the fed said they were raising the rates again, i put it off.... then with the holidays i got busy..... then i got a heads up email from navfed about this certificate coming, so waited even longer. opened my new certificate (with an additional .25% bonus! YAY!) yesterday!
Jan 12, 2023
236 Posts
Joined Mar 2006
Jan 12, 2023
spacecadet610
Jan 12, 2023
236 Posts
Quote from caligurl29 :
i took advantage of this. i had some money that i was intending to put in a few CDs but when the fed said they were raising the rates again, i put it off.... then with the holidays i got busy..... then i got a heads up email from navfed about this certificate coming, so waited even longer. opened my new certificate (with an additional .25% bonus! YAY!) yesterday!
how do you get a 0.25% bonus?
Jan 12, 2023
1,894 Posts
Joined Apr 2009
Jan 12, 2023
chuck4rooke
Jan 12, 2023
1,894 Posts
Quote from richiexluu :
if you borrow $100 with a 5% APR, you will pay $105 dollars back to the lender you borrowed from. The lender will make $5 in profit.

If Navy Federal borrows $100 from you with the percentage that's posted, how much do you think you'll get?
I was told there would be no math.
1
Pro
Jan 12, 2023
14,207 Posts
Joined Dec 2015
Jan 12, 2023
Spaceman6969
Pro
Jan 12, 2023
14,207 Posts
Quote from caligurl29 :
they have a calculator on their information page: https://www.navyfederal.org/makin...lator.html

$10,000 gets you $10,644 at maturity.

the sick part, if you click the show details tab.... the effing government is going to take aprox $205 of that in taxes when you file....
Ahh seriously? Man I forgot about that being taxable.

If $439 is what would left on the table to keep then probably not worth it especially if for example he or she constantly put $100 into the savings every paycheck. What do you think?
Jan 12, 2023
119 Posts
Joined Feb 2006
Jan 12, 2023
ljames77
Jan 12, 2023
119 Posts
Does anyone know the early withdrawal penalty on this? I couldn't find it.
1
Jan 12, 2023
485 Posts
Joined Jul 2004
Jan 12, 2023
owenowen41560
Jan 12, 2023
485 Posts
Good rate, sadly no military connections. I'm at around 4.75 on some of my 9-12 mo CD's. That would have been nice for that short term

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Jan 12, 2023
8 Posts
Joined Nov 2020
Jan 12, 2023
CoralCreator9632
Jan 12, 2023
8 Posts
Quote from AJDemineh :
Ahh wish this was public, instead of just navy. 5% is the goal for me
Check Tbills. Almost 5% rate for 26 or 52 week. Best part is no need to pay state taxes.

https://www.treasurydirect.gov/au.../upcoming/

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