09-26-2009 10:18 AM - edited 09-26-2009 10:19 AM
I just spoke with a CSR supervisor at NFCU.
My previous post is, if fact, correct. You will maintain full membership if you deposit a minimum of $50 into your savings account. Thereby never incurring a yearly $3 maintenance fee.
Furthermore, you will maintain your membership for life with this $50 deposit and there are no other requirements, of you,by NFCU to maintain your full membership.
edited for clarity
09-26-2009 10:21 AM
10-10-2009 06:59 AM
10-10-2009 07:42 AM
I used my hotline with NFCU this morning because you pose a great question. I do not have first hand experience using them.
The NFCU CSR I spoke with, whom seemed very knowledgeable, stated that NFCU "very rarely" has a problem with them being accepted. Most of the time, there is a problem, it is with a "mom and pop" shop. In which case you can write in your address and show ID. The bigger financial institutions and billers will only need the bank codes at the base of the check to process. However, NFCU does recommend one writes in the address information to ensure that there is no mix up at the financial institution or biller.
Perhaps, another member can chime in with their actual experience using these checks.
10-10-2009 07:43 AM
OK, not really a question about a Navy credit product, but about Navy EveryDay checking:
They offer free name-only checks --no address or other info.
Does anyone have these? Are checks without addresses routinely accepted? I like the idea of someone not being about to get my home address from a paper check, but I don't know that I've ever seen these before, and I can see trying to persuade someone that it's legit.
I have two checking accounts with a bank and a CU, one set of checks has full address and one has name only. Not a whit of difference between acceptance in my experience, and have never been questioned on a name only check. In my view less information is generally better. I remember back in the day when people routinely put phone numbers, SSN, and Drivers license numbers on them. Not any longer.
10-10-2009 08:05 AM
10-10-2009 08:46 AM
You may also want to consider having NFCU mail you a CUCARD for your checking account. It operates like a regular ATM card. All you would need to do is go online and request they mail you one.
I have the NFCU CUCARD for a couple of reasons. It has a seperate account number and I have it as a backup to access my checking account. Second, I can pull $600 cash per day from my VISA debit card and $400 cash per day from my CUCARD. So, the total amount of cash, if needed, I can access per 24 hour period through my NFCU checking account is $1000.
10-10-2009 09:06 AM
10-10-2009 09:17 AM
You can use the CUCARD for checking or savings and off site deposits. I actually use my CUCARD more because it is an immediate deduction from my checking account and I never am required to sign anything when I use it. I use the CUCARD plenty at the grocery store and for deposits and withdrawals at the ATM. You may have noticed NFCU suggests you hit the credit button when you use the VISA debit card.
You are right the the VISA debit is nicer looking but the CUCARD does have a partial American flag on it.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.