Reply
New Member
OUSoonerFan
Posts: 9
Registered: ‎10-03-2007

Re: NFCU

for NFCU does their service have to be just Navy or any military?
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: NFCU

Pretty sure it's Navy, including Marines, plus Navy contractors, Coast Guard, and Merchant Marines. This is from their site:
Eligibility Checklist

Navy Federal's Field of Membership is determined by the National Credit Union Administration (NCUA). If you are in any of these categories, you are eligible to join.

* All Department of the Navy (DON) Personnel—regardless of location or rank, including:

o Active duty Navy and Marine Corps
o Reservist, regardless of drilling status
o Civilian employees

* Contractors assigned to DON sites afloat or ashore
* Officer Candidate programs, NROTC, U.S. Naval Academy, U.S. Coast Guard Academy, U.S. Merchant Marine Academy
* U.S. Government—Military and civilian personnel employed by the U.S. Government assigned to, stationed at or working at a Navy installation, afloat or ashore
* Retired—from any of the categories listed above
* Family—including:
o Grandparents
o Parents
o Spouse
o Siblings
o Children (includes adopted, foster and stepchildren)
o Grandchildren
o Household Members

Once your family members have joined, they can extend the membership opportunity to their family members, too.

Because we have gone through this before on these forums, please let me observe that credit unions are membership organizations, and they are allowed to determine who meets their qualifications. This can include current employment, military status, religious affiliation, and so forth.
* 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
Valued Contributor
bunnyrabbit
Posts: 1,413
Registered: ‎01-20-2008

Re: NFCU

There is pros and cons.  I am former spouse of Marine, and I have accounts and CC with them. 
 
My Used Auto Loan APR is 5.9% for 6 years (72 months) and my nRewards CC APR is 7.9%.  This used to be over 11%.  And one day, when I call NFCU, CSR told me that I can request to reduce the APR once a year.  So I request it in 2006 and it reduced to about 10%.  And then I request it again in 2007, and guess what happen ... it reduced to 7.9%.  I was not expected that will be happen, I was thinking it will be around 9%.  It was a big ... HUGE jump.  Good for me!!  :smileyvery-happy:
 
Some of Pros;
* Once your APR went down to lowest APR on your CC, it will never go back-up again even market changes.
* Lower APR than others.
* You are eligible to vote for committee.
 
Some of Cons;
* Not many blanches.
* nRewards CC's reward program is not good as other CCs I have.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
New Contributor
howardi
Posts: 64
Registered: ‎04-30-2007

Re: NFCU

The Marine Corp is a part of the Navy so U should get into the NFCU with no problem.They are good for CLs_ I got 15K on my sign up with them.
Frequent Contributor
phumanr
Posts: 344
Registered: ‎05-29-2007

Re: NFCU

Yes, I agree...I got $15k mc, $15K Visa, and $15K LOC...my visa has been increased to $17,500 due to a BT request. Good people, moved all of my banking there.
 
Phumanr
Established Member
MsKitty
Posts: 18
Registered: ‎05-06-2008

Re: NFCU

is the only way to join  to be in the service or to have a family member in the credit union?  :-(   I have neither.  I do have a deceased bro. who was in the navy but nto in the credit union.
Regular Contributor
shreco
Posts: 134
Registered: ‎05-05-2008

Re: NFCU

[ Edited ]
Since this was an older thread from early this year you should know they opened up to all DoD branches last week.

So no longer just Navy/Marines. If you have service connected disability and receive compensation you can get in also. I was Army and that is how I got accepted even though not retired it still counted.

MsKitty you can always give them a call can't hurt.

Message Edited by shreco on 05-27-2008 08:40 PM
FICO TU 730 EQ 731 EX 706

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+