NASA Federal Credit Union
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| Industry | Financial Services | Credit Union |
|---|---|
| Founded | 1949 |
| Headquarters | Washington, D.C. |
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Number of locations
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12 |
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Area served
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United States |
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Key people
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Douglas Allman, President and CEO |
| Products | Credit Cards; Savings; Checking; Online Banking; Investments; Auto Loans; Personal Loans |
| Website | nasafcu.com |
NASA Federal Credit Union is a credit union founded in September 29, 1949 and is headquartered in Washington, D.C. It holds more than $2 billion in assets, is insured by the National Credit Union Administration and has about 140,000 members.
NASA Federal Credit union was founded as the NACA Washington Federal Credit Union in 1949 by a group of employees from the National Advisory Committee for Aeronautics (NACA). As the agency changed its name from NACA to the National Aeronautics and Space Administration (NASA), in 1958, the credit union also changed its name to NASA Washington Federal Credit Union. In 1974, it finalized the name to NASA Federal Credit Union.
In order to join NASA Federal, an applicant must be a NASA employee, relative or retiree, or a member of one of 900 partner companies or associations. Below is a list of associations one can be a part of to become a member of NASA Federal.
In addition, ATM fees are waived when members use NASA Federal’s 53,000 partner credit unions throughout the U.S.
Credit unions have been mentioned in media outlets about their competitive products, particularly on auto rates, mortgages and CDs as compared to larger banks. NASA Federal has been named in several publications as a recommended credit union to use for a variety of products.
NASA Federal offers a fixed rate 7.9% balance transfer to those who’ve opened an account within 90 days
NASA Federal launched its Star Trek credit card program in August 2016, in partnership with CBS and in conjunction with Star Trek’s 50-year anniversary. The program offers four Platinum Advantage Rewards cards including imagery from the Starfleet Academy, United Federation of Planets, Captain’s Card, and Starfleet Command. The cards offer rewards of Star Trek merchandise and experiences. The card also offers a 7.9% APR on balance transfers for life, the same across all NASA Federal credit cards.
According to The Wall Street Journal, credit unions are particularly competitive on auto loans, with the average credit-union rates on eight types of auto loans beating the comparable bank figures by an average of two percentage points. NASA Federal currently has a similar promotion that competes to lower an applicant's monthly payment.
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