topic Re: Navy Federal Credit Union - Joint Account Holders in Personal Finance

Navy Federal Credit Union - Joint Account Holders

Catatonico — Fri, 14 Apr 2023 00:46:30 GMT

I'm sorry if this question has already been asked... I wasn't able to locate it.

So... my husband is eligible for NFCU membership through his grandfather (technically, through most of his family, but not as easily proven). Technically, I am also eligible through my (estranged/deceased) father, though I have no records to document his service and that would prove difficult to get, since he and my mom married years after his service ended.

On to my question... if my husband were to join (since his eligibility is easier to prove) and we opened up a joint account, would I be able to apply for credit cards/loans in MY name only? I have the higher income and better credit.

I am a little confused by that, since, looking at their eligibility requirements, it looks like non-eligible individuals are not automatically considered "members", even if they are on a joint account. Only the person that is deemed "eligible" is the member.

Can anyone advise?

Thank you!

Re: Navy Federal Credit Union - Joint Account Holders

ZackAttack — Fri, 14 Apr 2023 01:13:58 GMT

I don't know how the joint part works in terms for CUs since every CU different compared to a bank.

As for joining NFCU ... a person can join from the range of grandparent to grandchild (as long you are in the middle of it for the range to work). Since your husband is easier, I would let him join first and ask the questions about how "joint" stuff work. When your husband has his stuff, you can join NFCU based on him since you are in the same household as him.

My guess about the checking account, since I see mine with a different number than the access number given, I'm assuming the joint is connected thru the access number given when joining.

A Checking Act -> Husband Access Number

-> Wifey Access Number

That is my guess of how they identify who has access to that account within NFCU. When I add TODs when creating CDs, I know my mom hasn't signed up and the system has assigned her an access number ... same thing with my dad -> has an access number but idk if he join NFCU at all.

Since a bank is easier to understand for joint stuff, but CUs can be confusing depending how they structure it. My best guess is a NFCU rep can clarify more on how joint stuff works.

Re: Navy Federal Credit Union - Joint Account Holders

Adkins — Fri, 14 Apr 2023 11:37:49 GMT

I joined NFCU (both parents are military) and then my DH joined through me, although he could have joined on his own since his dad also served. We have separate accounts (checking, savings, credit cards) on almost everything, other than the SUV we are jointly paying on.

Re: Navy Federal Credit Union - Joint Account Holders

Catatonico — Fri, 14 Apr 2023 11:59:42 GMT

Thank you both for the responses, though I'm not sure if its quite the the same situation I'm asking about, so maybe I can give some additional clarification.

I want to have a joint checking account with my DH, because we pool all of our money. But, we do NOT do joint credit applications (we keep our credit fairly separated). If, using my DH's eligibility, we open up a joint account, will I be able to apply for my own credit cards/loans/LOC's without him on them (except as maybe an authorized user on a CC)?

It may be a strange question, but I'm asking because, when I was reading on their FAQ's, I ran across the below and it is making me question whether I would be able to apply for credit, since I would not technically be a member.

Are joint owners considered members of Navy Federal?

No. A joint owner shares access to your account but isn't necessarily a member of Navy Federal. To become a member, you or one of your family or household members must have ties to the armed forces, DoD or National Guard.

I am going to reach out to them to ask the question, because, unfortunately, if I won't be able to apply for credit, we may have to re-think opening an account. We keep our credit relatively separate for a reason right now (hope to be able to change that once we get a house, though).

Thanks again!

Re: Navy Federal Credit Union - Joint Account Holders

NoMoreDebt — Sat, 15 Apr 2023 14:48:19 GMT

I too am curious about this. I recently joined NFCU and was eligible directly through my own military service. I added my wife as a joint owner but the way the verbiage is im unsure if she could keep the account in the event of me passing etc.?

Re: Navy Federal Credit Union - Joint Account Holders

Sleekride — Sat, 15 Apr 2023 22:22:32 GMT

Yes, you can apply and obtain your own credit products, w/ NFCU, after joining through your significant other. This is from personal experience.

Re: Navy Federal Credit Union - Joint Account Holders

Catatonico — Sat, 15 Apr 2023 23:26:02 GMT

Thank you!

We're going to the in-laws in a couple of weeks to pick up the documentation that proves my husband's eligibility. Want to have it on hand, just in case. Then we're going to go by there.

Thank you all for the responses!!

Re: Navy Federal Credit Union - Joint Account Holders

docbang — Sat, 15 Apr 2023 23:44:14 GMT

I am a RETIRED MILITARY. I am married and we have a joint account (checking) , we each opened our own CC accounts, we have 2 separate Flagship Visa and 2 separate Reward AMEX, 2 separate savings account. if your husband open his own account (individual) , all you need is his access number for the bank to confirm and also bring your marriage certicate for proof (most of the time they dont ask for it) , enter on the application for relationship: Married or Spouse. CASE CLOSED!! Next.!

Re: Navy Federal Credit Union - Joint Account Holders

Jordan23ww — Sun, 16 Apr 2023 00:06:27 GMT

My wife and I were actually both eligible to join (her through her dad, me through my deceased grandfather). It was just easier for us to use her dad in case we needed to locate any documents to prove eligibilty. We have a joint checking account and individual saving accounts. Both of us have been able to apply for our own Navy Federal credit cards. I feel like loan approvals will work the same way should we apply for those too. So you shouldn't have any issues either applying for credit cards or loans if you join through your husband too!

Re: Navy Federal Credit Union - Joint Account Holders

Jordan23ww — Sun, 16 Apr 2023 00:11:10 GMT

@Catatonico wrote:
Thank you!
We're going to the in-laws in a couple of weeks to pick up the documentation that proves my husband's eligibility. Want to have it on hand, just in case. Then we're going to go by there.

Thank you all for the responses!!

@Catatonico you may not even need to wait to join. When my wife and I joined through her dad no documentation was needed. We had access to the documentation but it wasn't asked for. They just asked for information about him such as name and date of birth. I assume they looked him up and that was all the verification that was needed. We've been members since January 2020 and they have never come back and asked for any documentation either. Definitely do what you feel is best, just didn't want you to delay joining unneccesarily!

Re: Navy Federal Credit Union - Joint Account Holders

Anonymous — Mon, 17 Apr 2023 16:19:41 GMT

@Catatonico wrote:

Are joint owners considered members of Navy Federal?
No. A joint owner shares access to your account but isn't necessarily a member of Navy Federal. To become a member, you or one of your family or household members must have ties to the armed forces, DoD or National Guard.

Looks like this has been answered (with a yes to OP!) but in this text that apparently caused the confusion, the key word is "necessarily". So eligible person X joins NFCU and can add anyone, including longtimelurker, as a joint account owner (and adding LTL is STRONGLY encouraged BTW). But, as others have stated, by virtue of being close family with a member (your husband) you will be a member, and thus you are able to apply for credit cards in your own name (as well as be joint owner of the checking account)

Re: Navy Federal Credit Union - Joint Account Holders

butterpecan — Wed, 19 Apr 2023 22:02:00 GMT

@Jordan23ww Did you enroll in person or in the phone? My spouse and I both have our bio fathers and then a stepfather who adopted us when each of our mothers remarried so in all we have 4 service members tied to us but they are all 4 deceased. I want to join pretty quick we live on Parris Island and are surrounded by NFCU branches but I am wondering if it's better to join on the phone. We can't do any online enrollment because they are deceased according to the join now tab.

Re: Navy Federal Credit Union - Joint Account Holders

Jordan23ww — Wed, 19 Apr 2023 22:16:11 GMT

@butterpecan wrote:
@Jordan23ww Did you enroll in person or in the phone? My spouse and I both have our bio fathers and then a stepfather who adopted us when each of our mothers remarried so in all we have 4 service members tied to us but they are all 4 deceased. I want to join pretty quick we live on Parris Island and are surrounded by NFCU branches but I am wondering if it's better to join on the phone. We can't do any online enrollment because they are deceased according to the join now tab.

@butterpecan we joined over the phone! It was a very smooth process too. We just passed the phone to one another to answer any questions they had for us individually. It was nice to be able to set up both our accounts in one single phone call from the comfort of our home.

Re: Navy Federal Credit Union - Joint Account Holders

butterpecan — Wed, 19 Apr 2023 22:17:56 GMT

@Jordan23ww Thank you, that is what I was wondering. I will do that!

Re: Navy Federal Credit Union - Joint Account Holders

Catatonico — Wed, 19 Apr 2023 23:23:14 GMT

Again, thank you all for the responses. My DH says that I over-think these (he's probably right... hahaha!), but you all have really set my mind at ease.

Thanks again!!