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Frequent Contributor
Posts: 419
Registered: ‎03-05-2012
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Re: Possible to join NFCU? (Deceased Father honorably discharged from Navy)

[ Edited ]

Repo-ed wrote:

Essentially, yes.  But I got into USAA when I was Active-Army, when they had the same requirements as NFCU now.  Now USAA is just a regular bank, for all intensive purposes.


For all intents and purposes. Smiley Tongue
Frequent Contributor
Posts: 341
Registered: ‎08-14-2012
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Re: Possible to join NFCU? (Deceased Father honorably discharged from Navy)


ctb89 wrote:

Repo-ed wrote:

Essentially, yes.  But I got into USAA when I was Active-Army, when they had the same requirements as NFCU now.  Now USAA is just a regular bank, for all intensive purposes.


For all intents and purposes. Smiley Tongue

I'm not a grammar Nazi, but I was just about to correct him myself, as well lol. ALOT of people do this, in speech and in grammar. It's all good though.

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Registered: ‎05-26-2010
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Re: Possible to join NFCU? (Deceased Father honorably discharged from Navy)

I belong to both USAA and NFCU.  I no longer do business with large national banks.

 

USAA is a Texas Insurance Cooperative, an odd membership ownership structure that dates back to when they were originally founded to offer car insurance to officers.  So in terms of services offered, customer service etc. they are very much like a credit union.  But the insurance cooperative owns the bank, brokerage company, etc.  That's why they have full membership (now open to anyone honorably discharged and family), and as pointed out banking services for anyone (although some services are offered only to full members).

 

Credit Unions are non profit, and despised by banks.  At one time the "field of membership" requirement was loosened or removed, some banks sued, and it was reinstated.  It is hard for a CU to change its field of membership, and because of its size NFCU probably would get more scrutiny than others.

 

Credit Unions (there are national and local), and community banks, especially Mutual type banks owned by their depositors are far better for the consumer, IMHO, than the giant banks.

 

 

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