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NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Regular Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?


Guyatthebeach wrote:

... This method was removed from NFCU by the NCUA not the credit union. ...


Could you please cite this?  I've seen more than one person make this claim, but no evidence whatsoever that this was the case.

 

It is clearly within the purview of a credit union to expand its own membership by a variety of methods, and one of those specifically cited by the NCUA as a standard method for expanding the field of membership is to merge with another credit union, and add their field of memberhsip to your own, which is precisely what NFCU did, AFAIK.

 


 

https://www.ncua.gov/services/Pages/field-of-membership-chartering.aspx

 

Field of Membership
The field of membership of a credit union is a part of its official charter, and is the legal definition of who is eligible to join the credit union. Credit unions often want to expand their field of membership to include additional potential members. A federal credit union’s field of membership can be expanded in the following ways: the field of membership of a credit union is a part of its official charter, and is the legal definition of who is eligible to join the credit union. Credit unions often want to expand their field of membership to include additional potential members. A federal credit union’s field of membership can be expanded in the following ways:

  • Occupational common bond expansion, including adding new or related trades, industries or professions;
  • Associational common bond expansion;
  • Multiple common bond expansion;
  • Underserved area expansion;
  • Converting to a community charter or expansion of an existing community charter; and
  • Taking in the field of membership of another credit union through a merger or purchase and assumption.

 

 


Message 81 of 96
Established Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Glen_M,

 

I spent an hour checking on the screen shot I saved about my confirmation that NFCU was accepting NLUS-SSD members as members. NFCU confirmed it themselves last year, and I can't find it. Since their field of membership has changes, it's a mute point. Call NFCU if you want to confirm it straight from the source.

 

Guyatthebeach

Message 82 of 96
New Member

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Just wanted to update...I called NFCU and I did qualify for membership. The rep asked which of my family members had served. I told her my grandfather, several uncles, my brother, and a nephew. She asked if my grandfather was still living (he isn't), what branch he was in, and if he was honorably discharged. She said I qualified based on my grandfather and immediately opened my account!

Message 83 of 96
Regular Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?


CreditInspired wrote:

Honestly, I was wondering when that hammer was going to fall. When I joined in 2002, you had to be related to an active military member.


 

Me too.  Back when we joined (late '80s) you had to be in the NAVY or Marine Corps...not just any military branch.  AND you had to apply while you were overseas.  We had to wait for my husband to be on WestPac before we could apply and join.


Cap1 QS Visa $11,000 | Cap1 QS WEMC $10,000 | Citi Costco Visa $5,500 | AMEX BCE $3,000 | AMEX HH $1,000 | Chase Disney Premier $2,000 | CU Rewards MC $2,000 | PayPal 2% MC $2,000 |
Message 84 of 96
Regular Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Hi there You're Welcome, it's been awhile. I will be forever grateful to you and want to Thank you for helping so many of us. Guy at the Beach so glad you are still trying to help as well as Uncle B and mods. Many have posted that they are not surprised but for some reason I am, sad as well and not just for the people that didn't get in but for the NL San Diego Chapter, they were so proud of being a way in to NFCU. Thank you everyone that helped spread the word, you changed people's lives, I know it changed mine.

Message 85 of 96
Valued Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?


Guyatthebeach wrote:

Glen_M,

 

I spent an hour checking on the screen shot I saved about my confirmation that NFCU was accepting NLUS-SSD members as members. NFCU confirmed it themselves last year, and I can't find it. Since their field of membership has changes, it's a mute point. Call NFCU if you want to confirm it straight from the source.

 

Guyatthebeach


The NCUA didn't change it. NFCU opted not to exercise their right to include members from the 2010 merger with USA Federal Credit Union. 

 

I am not surprised, as it has been a point of contention for at least a year, but most notably in December of 2016 when a number of financial tip sites started to promote it as the loophole for joining.


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 86 of 96
Established Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?


lowkeyorca wrote:

Guyatthebeach wrote:

Glen_M,

 

I spent an hour checking on the screen shot I saved about my confirmation that NFCU was accepting NLUS-SSD members as members. NFCU confirmed it themselves last year, and I can't find it. Since their field of membership has changes, it's a mute point. Call NFCU if you want to confirm it straight from the source.

 

Guyatthebeach


The NCUA didn't change it. NFCU opted not to exercise their right to include members from the 2010 merger with USA Federal Credit Union. 

 

I am not surprised, as it has been a point of contention for at least a year, but most notably in December of 2016 when a number of financial tip sites started to promote it as the loophole for joining.


Lowkeyorca,

 

I got my information directly from NFCU customer service and the branch manager from the branch I use regularly.

 

Regardless of who put a stop to it, the window of opportunity to join NFCU without a military background or working for the DOD is over.

 

I'm glad that NFCU is keeping my accounts open.

 

Guyatthebeach

Message 87 of 96
Valued Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?


Guyatthebeach wrote:

lowkeyorca wrote:

Guyatthebeach wrote:

Glen_M,

 

I spent an hour checking on the screen shot I saved about my confirmation that NFCU was accepting NLUS-SSD members as members. NFCU confirmed it themselves last year, and I can't find it. Since their field of membership has changes, it's a mute point. Call NFCU if you want to confirm it straight from the source.

 

Guyatthebeach


The NCUA didn't change it. NFCU opted not to exercise their right to include members from the 2010 merger with USA Federal Credit Union. 

 

I am not surprised, as it has been a point of contention for at least a year, but most notably in December of 2016 when a number of financial tip sites started to promote it as the loophole for joining.


Lowkeyorca,

 

I got my information directly from NFCU customer service and the branch manager from the branch I use regularly.

 

Regardless of who put a stop to it, the window of opportunity to join NFCU without a military background or working for the DOD is over.

 

I'm glad that NFCU is keeping my accounts open.

 

Guyatthebeach


Part of USA Federal Credit Union's field of membership was NLUS-SD, and when NFCU absorbed them, they opted to keep their field of membership, per the NCUA guidelines. The NCUA still allows this, you can speak to them yourself, or read them.

 

It was NFCU's decision to opt out. They removed it from their charter 5/12/2017 at 1:30 PM EST, after a charter review. (Maybe you are confusing the NCUA for the board of directors?)

 

The NCUA was responsible for allowing honorably discharged veterans to join military-bonded credit unions, a change that was proposed in 2015, and enacted into the bylaws recently.

 

Here you can find the most recent updates to the NCUA bylaws; most proposals focused around expanding membership capabilities of credit unions: https://www.ncua.gov/regulation-supervision/Documents/Regulations/final-rule-chartering-field-member...

 

You are saying this is a moot point, but it's important not to spread incorrect information. 

 

Smiley Happy


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 88 of 96
Established Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Lowkeyorca,

 

My information came straight from Navy Federal employees. 

 

This is not the first time USA Federal's field of membership became an issue for Navy Federal. Before USA Fed merged with Navy Federal, there were postings on the interest showing how to USA Fed through the Prime Meridian Association for $5.00 and then boom after October 2010, you were in NFCU.

 

The New York Times even talked about this in story in June 2010.

 

I hope CU's out there take a hard look at their membership requirements to allow everyone to join that is in their geographic region. CU's do things so much better than banks. IDuring my rebuilding phase, I had better luck with CU's than with banks.

 

Guyatthebeach

Message 89 of 96
Established Contributor

Re: NFCU Navy Fed no longer allowing new membership through Navy League of San Diego?

Just as a general note, I'm planning to go to my local NFCU branch Saturday morning to see whether I can get in with my direct relatives (maternal grandfather, father, stepfather) having been servicemembers. Maybe I should advise them that I'm a longtime Penfed member due to my family service connections?

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 90 of 96