Review of the NASA Federal Credit Union

Review of the NASA Federal Credit Union

You are aware that one of your life’s most crucial aspects is money. You must select the ideal hiding spot for your cash. There are more than 8,000 banks available, and each one offers a variety of services and goods.

Trying to choose which option is the greatest fit for you can be overwhelming, I know.

Don’t forget to look into credit unions when you are looking for a financial institution. Most of the advantages that a national bank provides are also provided by credit unions, but the rates are significantly better.

Let’s talk about the NASA Federal Credit Union (yep, that NASA).

Who Is NASA Federal Credit Union?

The NASA Federal Credit Union was founded in 1949, therefore it has a long history.

It began when seven employees received authorization from a credit union charter to begin providing services to NASA employees. They were granted the necessary authorization, and the rest is history. The credit union has undergone significant development and transformation after more than 70 years.

They currently have more than 140,000 members. Although it was founded as a company to help NASA employees, it now has a presence in almost every industry.

Banking with NASA Federal Credit Union

There are a number of checking accounts available when you join NASA Credit Union. The advantages each of them offers are unique. the following three accounts:

  • Premier Checking
  • Premier checking
  • Premier Preferred Checking

The fundamental Premier Checking plan is going to be your finest choice if you desire a simple account. Unless you match certain of the exemption criteria, such as having a $2,500 balance, this account has a $7 monthly charge.

Unless you use Online Bill Pay with eStatements, there is a $8 monthly cost for the Premier Checking account. Most people will find it simple to do, and those monthly costs won’t be your responsibility.

With a staggering $9 monthly cost, the Premier Preferred Checking account has the highest price structure. You need to have at least $2,500 in your account to avoid paying this cost.

For purchases made with a debit card, all three of the checking accounts provide cash back incentives.

You will receive $.02 for PIN transactions and $.05 for signature transactions for every debit card purchase you make. Each year, you are eligible to earn up to $250, which will be placed into a savings account.

While the amount of cashback you can earn each year is capped at $250, it’s still a lot more than what most other credit unions provide. Actually, you won’t find cash back incentives at the majority of credit unions.

Their savings account is a lot more straightforward.

A Shared and Special Savings Account or an Education Savings Account are your two possibilities. The account you will need to open in order to join the credit union is the Shared and Special account.

The only initial deposit required to start this account is $5, and their Shared account offers a number of advantages. You won’t be charged a monthly premium for your coverage and you may set up automatic deposits.

This is a great account for anyone looking for a secure location to keep their money.

The Education Savings Account is the additional savings program.

As you can infer from the name, this plan is intended to help you save money for college costs. This strategy enables you to put money aside and receive a tax credit for college expenses for a kid or grandchild. For each child under the age of 18, you may contribute up to $2,000 annually.

Like many banks and credit unions, NASA Credit Union provides a wide range of online services. In comparison to 15 years ago, banking has completely changed thanks to smartphones and the Internet. They offer many services, including online bill payment, mobile banking, remote deposits, and eStatements.

You will have access to all online features as a member of NASA Federal Credit Union, just as you would with any large bank.

Investing with NASA Federal Credit Union

More and more people are looking for institutions that will assist them with both saving and investing their money. Although investing is not their primary focus, NASA Federal provides a ton of special tools and services you may utilize to maximize your funds.

Every member of NASA Credit Union has access to investment services. To assist you in achieving your financial and retirement goals, you can obtain guidance and investment programs.

Full-service financial advisor services are available from NASA Federal; they can help you set goals, describe your risk tolerance, and much more.

You can also use eVision, an online trading program provided by NASA Fed. For anyone who loves to manage their own portfolio, this is a great tool. You can research various stocks and funds using eVision, and you can access real-time quotes, news, and analysis.

Borrowing and Credit Cards

One of the most original credit cards you’ll find is offered by NASA Federal Credit Union. “Star Trek Credit Cards” is the name of their credit card. I had to talk a little bit about this entertaining card in my assessment of the credit union.

Possessing a Star Trek card has various benefits. One of them is that you will receive 3x points for purchases made at Startrek.com and 2x points for purchases made at fueling stations.

Additionally, you receive a bonus of 30,000 points if you spend $3,000 in the first 90 days. Your points can be redeemed for a variety of items, including cash, gift cards, Star Trek memorabilia, and more.

They also offer a standard credit card that offers reduced APR and cash back on purchases if you don’t want a credit card with the Star Trek logo.

They currently have a 7.9 percent APR on balance transfers made within 90 days of account opening for the duration of the transfer. There are no fees with this card, either annually or for international transactions.

On to the loans that are increasingly commonplace now. All available loan types are provided by NASA Federal Credit Union. They offer personal, auto, student, mortgage, home equity, and home equity loans.

No matter what kind of loan you need, NASA Credit Union is a great place to start your search. All of their loans have rates that are incredibly low. They not only have affordable pricing, but you can complete every step of the application process online.

Becoming a Member

Have you ever wanted to work for NASA? Your chance is now. You can use the same credit union that NASA employees do, even if you won’t have the opportunity to travel to space. There are various methods to become a member of NASA Federal Credit Union, like most other large credit unions:

  • Being a current or retired employee of NASA
  • Being a member of one of the NASA Credit Union Associations
  • Being a relative or married to a NASA Credit Union member
  • Being a member of the National Space Society

Anyone can become a member of the National Space Society if they don’t fall into one of the first three categories. It is simple and quick.

It’s simple to fill out the entire application online if you wish to join NASA Credit Union. In less than an hour, you ought to be able to complete the application and join.

Drawbacks of NASA Federal Credit Union

There are many positive evaluations of the credit union online if you take the time to read through some of the consumer testimonials. There are many clients who are happy, but there will certainly be some who have worse than ideal experiences.

The lack of locations is one of NASA Credit Union’s biggest flaws. No matter which credit union you select, you will encounter this issue.

Choose a sizable national bank or a neighborhood credit union if you want to be able to stroll into a branch and handle your business in person.

Some of the problems and costs members experienced were among the many grievances I saw on review websites. Despite the fact that I have no firsthand experience with NASA Federal, the numerous negative complaints about arbitrary charges or fees should make you pause. Several customers were charged unreasonable fees and did not receive refunds, according to a review of customer complaints.

Even if these individuals might be the exception, it’s something to keep in mind while registering a new account.

Final Thoughts

For many customers seeking for a place to invest their money, NASA Federal Credit Union is a great choice because they have a lot to offer. Every individual is unique, and every individual has different financial demands.

Although I am unable to recommend NASA as the finest financial institution for you, you should include them in your search.

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