NASA Federal Credit Union is offering a CD at 5.65% APY— the highest rate available right now

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• NASA FCU is offering the highest interest rate for a CD right now.
• Rates over 5% have become more common across banks and credit unions.
• You can join NASA FCU by becoming a member of the National Space Society.
• See today's best high-interest accounts »

While 5% might be the new normal for savings accounts, interest rates for some CDs are much higher than that.

Specifically, the NASA Federal Credit Union 9 Month Share Certificate is currently offering 5.65% APY (Annual Percentage Yield), the highest rate on the market right now. And it's NASA again that's offering the second-highest rate: the NASA Federal Credit Union 15 Month Share Certificate at 5.45% APY.

First things first: Yes, it's that NASA.

According to its website, "The pillars guiding NASA's space exploration are the same principles we rely on to provide our Members with, 'out-of-this-world' products and service." A credit union is type of nonprofit financial institution that's owned by its customers (often referred to as members) and according to the site, this particular one was started by NASA employees.

However, you don't have to be a NASA employee to join.

How to get a 5.65% APY

Credit unions typically have some sort of criteria for membership, and certain institutions ask more than others. To join the NASA Federal Credit Union and open one of its CDs, you must be:

• A current or retired employee of a NASA center
• A member or employee of a NASA Federal association or partner company
• Related to or currently living with a NASA Federal member
• An affiliated member of the National Space Society

It's that last one that will grant most people membership; the credit union will provide a complimentary 1-year membership to the NSS.

If you're looking for a high rate without joining a credit union, there are some banks offering appealing APYs on both CDs and high-yield savings right now:

• CFG Bank 1-year CD: 5.42%
• BrioDirect Bank 1-year CD: 5.35%
• CIBC Bank USA 1 Year Agility CD: 5.27% APY
• Columbia Bank High Yield Savings Account, powered by SaveBetter: 5.10% APY

Remember: A certificate of deposit, also called a CD, is a financial product best used for getting a guaranteed return on short-term savings you don't need to touch. When you open a CD, it's designated for a specific time (like one year, six months, or three years) and you typically can't remove your money before then without paying a fee. If you need more regular access to your money, consider a high-yield savings account instead.