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Got my fat envelope from Navy FCU --any advice about their different credit products?

Established Contributor

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Hauling,

 

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

Message Edited by plasticman on 09-26-2009 10:19 AM
Message 41 of 49
Moderator Emerita

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

plasticman uses his hotline to Navy CS again! Smiley Very Happy You must have a direct line by now.

Thanks for confirming. I was just looking at the brochure again, and it really does indicate that you would need a second product. Classic example of printed info not being entirely accurate.

Off to find a physical check to send in, assuming that I still have any such thing these days.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 42 of 49
Moderator Emerita

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

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.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 43 of 49
Established Contributor

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Hi Hauling,

 

I used my hotline with NFCU this morningSmiley Happy 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.

Message 44 of 49
Established Contributor

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?


haulingthescoreup wrote:
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. 
Message 45 of 49
Moderator Emerita

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Thanks to both of you! If I get checks, then, I'll do the name-only option.

Considering that I hardly ever write checks on my real checking account, I probably won't get any for Navy. I do like the appearance of their check card, though: flaming red, with tiny little sparkles. Very pretty. I'm going to keep $100 in the Navy checking just so I can print out some cash every now and again at local ATM's. Navy's part of a lot of networks, making for surcharge-free cash withdrawals.

Red's a pretty unusual color for a financial product. There are some unpleasant associations with red in the world of money. Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 46 of 49
Established Contributor

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Hauling,

 

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.

Message 47 of 49
Moderator Emerita

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

I didn't even see the CUCARD section down at the bottom of the page. So it essentially is a debit/ ATM card for savings, rather than checking. (Plus it can be used for the other stuff that you mentioned.)

That would make sense if I didn't want to keep money in checking. As I said above, the idea of having and keeping track of two checking accounts appalls me.

I still think the red card's prettier, though! Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 48 of 49
Highlighted
Established Contributor

Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

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.Smiley Wink

Message 49 of 49