topic Re: Best credit union: navy? what's the difference? in Personal Finance

Best credit union: navy? what's the difference?

jesseh — Fri, 15 Dec 2017 19:33:30 GMT

Hi all,

Let me start of my saying I know there have been many 'best credit union' threads on here, and I've read quite a few.

I'm a member of a few cu's but I can't help but notice all the positive posts on Navy fcu around here. It seems to have a special reputation around here, and I'm not sure whether that's because of their limited eligibility, or really a difference in what they offer.

So my question: what's the real difference?

Would you advise anyone to join Navy FCU?

My personal experience (andrews, state dept and pentagon fcu): sdfcu and andrews are limited due to their size, with not very professional customer service or online/mobile banking, and meh out-of-office-hours backup service. Penfed is great in service, but always requires much paperwork and offers no free checking.

Thanks!

Re: Best credit union: navy? what's the difference?

Anonymous — Fri, 15 Dec 2017 19:41:47 GMT

They give people with subprime scores prime credit limits.

All banks, credit unions, lenders, brokers and investment firms are garbage to some degree or another. If anyone says one is the "best" they probably work there or have family working there.

Don't put all your eggs in one basket or even 3 baskets. There is no best, there is just "less garbage in this one situation than the other garbage companies."

Re: Best credit union: navy? what's the difference?

Anonymous — Fri, 15 Dec 2017 19:43:03 GMT

Can the OP or anyone else clarify whether most people even can join Navy?

I remember that a back door opened last year that enabled people to bypass the clear intent of the CU to serve only people in the armed forces and their families. Then at some point later it sounded to me like that loophole had been closed.

Is it still possible for people with no military background or relatives (etc.) to join?

Re: Best credit union: navy? what's the difference?

jesseh — Fri, 15 Dec 2017 20:23:13 GMT

Nope, not possible as far As i know since the spring. However, many americans have a family member who has served, usaa only accepts parents, but navy accepts other family members (like grandparents) too i believe.

Re: Best credit union: navy? what's the difference?

EAJuggalo — Sat, 16 Dec 2017 01:01:51 GMT

I just used my Grandfather's name and service to join last week.

Re: Best credit union: navy? what's the difference?

jesseh — Sat, 16 Dec 2017 17:14:54 GMT

Any other opinions?

Re: Best credit union: navy? what's the difference?

Sandman771 — Sat, 16 Dec 2017 18:49:18 GMT

What I like about NFCU is their customer service. It is like they are always happy to assist you in whatever you need to do. I have called them at 10PM on a weeknight and I have called them at 7AM on a Saturday as far as extremes are, and they were always prompt, polite, and helpful.

Re: Best credit union: navy? what's the difference?

jesseh — Sat, 16 Dec 2017 19:56:24 GMT

@EAJuggalo wrote:
I just used my Grandfather's name and service to join last week.

Can you explain this further,please? Is he a member, still with you or did you have to provide any documents?

Thanks

Re: Best credit union: navy? what's the difference?

EAJuggalo — Mon, 18 Dec 2017 01:19:15 GMT

My Grandfather died 50 years ago. I called up last Saturday with his name, branch of service and that's all they asked for. I have his enlistment paperwork so I have his serial number if asked but as of yet they haven't asked.

Re: Best credit union: navy? what's the difference?

Anonymous — Mon, 18 Dec 2017 04:18:12 GMT

I am a NFCU member I used my grandfathers Docs to get in and to a answer your question NFCU is better than the rest is because of the member mall. I can save up to 4-5% above and beyond the 1.5% standard cash back

Re: Best credit union: navy? what's the difference?

Anonymous — Mon, 18 Dec 2017 12:12:12 GMT

Everywhere I go there you are - you and poor Robert (and a few others) are holding this forum down with the good info. Yet more kudos to you.

I love PenFed for my own reasons -- I would sell my soul, go into servitude, sell my mother before I miss an on-time payment to them with a smile, they have earned a customer for life. Having said that, NavyFed is my favorite (don't tell PenFed) because they do everything mentioned above but had no problem extending me a great CL. Even though I would get more rewards elsewhere, I use my NavyFed card 9 times out of 10 in appreciation (but of course never too much). Like PenFed I've never had a bad experience with them but PenFed did the unthinkable (kidding) by making me go through recon (which was a lovely process) but I had never done it before and now as I'm prone do to researched it for weeks before sending my one email. I was on pins and needles for days checking my inbox.

Re: Best credit union: navy? what's the difference?

Anonymous — Mon, 18 Dec 2017 12:15:30 GMT

I'm not sure who mentioned using the loophole at NavyFed was closed but I used it just this last summer and had no problem. Which loophole are we talking about?

The wife at the same time used USAA to get into NavyFed (they are falling over themselves to find a connection for new accounts I am told, but YMMV). She used my stepfather and my mother isn't even married to the guy anymore. So if that's not stretching a military connection to the nth degree I don't know what else would be... my college roommate's stepfather?

Re: Best credit union: navy? what's the difference?

marty56 — Mon, 18 Dec 2017 16:23:01 GMT

RBFCU is great. Upgraded CC to 2% cashback card and with the same INQ was pre-approved for an autoloan. Sadly they can't approve me with DW.

Re: Best credit union: navy? what's the difference?

bourgogne — Sun, 24 Dec 2017 07:34:24 GMT

a little late but I thought I would chime in here. I am with penfed and nfcu. car loan with penfed and imo that is all they are good for. marginal customer service, slow to answer email if at all, and if you are self-employed expect to be grilled. if you want conservative and rigid you can find it with penfed + the survey trick is random at best. just had an awful exp with them with a friend. car loans yes, secured loans they are fine with, everything else and your results may vary. again just my .02. NFCU is near perfect. been in touch a bunch also helping another friend and they are always a delight and helpful to deal with. BK and self-employed friendly. just flat out friendly in general. real people working there to serve real people. only wish is for better card products, an amex with mr pts and their customer service, can you imagine? assets ~90bil, get this, jeff bezos is worth over 100bil! mind blowing if you think about it.

Re: Best credit union: navy? what's the difference?

Anonymous — Sun, 24 Dec 2017 20:49:39 GMT

Open auto loan with PenFed, couldn't be happier. Also have Visa with NFCU. Couldn't agree with above comment more.

I will add too that I had to reset my passwords to both PenFed and NFCU. One took me less than 4 mins on the phone with my predesignated security phrase. The other 38 min.

Re: Best credit union: navy? what's the difference?

Anonymous — Tue, 26 Dec 2017 19:28:49 GMT

@jesseh wrote:
@EAJuggalo wrote:
I just used my Grandfather's name and service to join last week.
Can you explain this further,please? Is he a member, still with you or did you have to provide any documents?
Thanks

I was approved today based on his name and years served before honorable discharge.

Re: Best credit union: navy? what's the difference?

teamgray — Sun, 31 Dec 2017 16:44:58 GMT

So if my father served in the air force, I may be able to secure a account?

Re: Best credit union: navy? what's the difference?

Anonymous — Sun, 31 Dec 2017 19:42:00 GMT

Yes. As long as you have his information. When served, type of discharge etc. I got in through my father's service in Vietnam even though he passed away in 1984. I had all of his information and paperwork but was never asked for anything except his name, when he served and what type of discharge.

Hope this helps. Happy New Year to everyone.

@teamgray wrote:
So if my father served in the air force, I may be able to secure a account?

Re: Best credit union: navy? what's the difference?

Anonymous — Tue, 02 Jan 2018 19:40:34 GMT

@Anonymous wrote:
I am a NFCU member I used my grandfathers Docs to get in and to a answer your question NFCU is better than the rest is because of the member mall. I can save up to 4-5% above and beyond the 1.5% standard cash back

Member mall? What is the link.

Re: Best credit union: navy? what's the difference?

seattlecredit08 — Tue, 02 Jan 2018 23:16:22 GMT

@bourgogne wrote:
a little late but I thought I would chime in here. I am with penfed and nfcu. car loan with penfed and imo that is all they are good for. marginal customer service, slow to answer email if at all, and if you are self-employed expect to be grilled. if you want conservative and rigid you can find it with penfed + the survey trick is random at best. just had an awful exp with them with a friend. car loans yes, secured loans they are fine with, everything else and your results may vary. again just my .02. NFCU is near perfect. been in touch a bunch also helping another friend and they are always a delight and helpful to deal with. BK and self-employed friendly. just flat out friendly in general. real people working there to serve real people. only wish is for better card products, an amex with mr pts and their customer service, can you imagine? assets ~90bil, get this, jeff bezos is worth over 100bil! mind blowing if you think about it.

Related to this-- Does anyone have experience with PenFed and their process for employment verification? Do they ask for paystubs, etc, etc. especially if someone works in a smaller company or recently changed employers?

Thank you!!