Savings

Membership in Northrop Grumman Federal Credit Union means co-ownership in one of the strongest credit unions in the country.

Term (CD) Savings

Certificates, also known as Term Accounts, allow members to invest for longer terms and receive higher dividends than on regular savings or the money market accounts. Members have the option of opening NGFCU™ Term Accounts for 6 and 30 months, and 1, 2, 3, 4 and 5 years with a minimum deposit of $2,500. The dividend rate is established at the time the account is opened and remains in effect for the duration of the term.

Members qualify for even higher dividends with a bonus rate when the account is opened with at least $40,000. Dividends are paid monthly and may be compounded, transferred to another account, or mailed to the member. Term Accounts may be used as collateral for loans, or the principal may be reduced with penalties applied only on the amount removed.

Members may establish a "laddered" bonus term account program by including a minimum of three term accounts maturing at different times whose aggregate deposit amount is at least $40,000.

Summary

Term Accounts offer you a variety of benefits:

Federally insured to at least $250,000 by NCUA
Dividends paid monthly or at maturity
Minimum opening deposit of $2,500
Minimum opening deposit for Bonus Term Accounts or minimum aggregate deposit in a defined "laddered" term account program: $40,000
Higher balance yields higher return
Choice of maturity dates 6 or 30 months, and 1, 2, 3, 4 and 5 years
Dividends may be:

Transferred to savings, checking or money market accounts
Withdrawn without penalty at maturity
Automatically mailed monthly
Compounded in the Term Account

Use funds as collateral on loans
Early withdrawal will result in a penalty that could deplete original principal amounts--see Terms and Conditions for details.

Mailing Address
Box Number 47009
Gardena, CA 90247-6809

Call Center
800-633-2848
Monday - Friday
7 a.m. - 6 p.m. Pacific