topic Re: NFCU Questions in Personal Finance

NFCU Questions

Amarie003 — Tue, 28 Oct 2014 18:56:20 GMT

Hi All!

Can someone give me their opinions of NFCU? I want to know the good, the bad, and the ugly. :-) Also, do I have to submit to a credit check to become a member with them?

Thanks!

Re: NFCU Questions

baller4life — Tue, 28 Oct 2014 20:11:55 GMT

They are AWESOME!! Very generous to rebuilders!! They will pull your credit for membership. They usually pull EQ but some have reported TU pulls. Are you eligible?

Re: NFCU Questions

Amarie003 — Tue, 28 Oct 2014 20:52:17 GMT

Thanks, what so you like best about them though? Are they good mortgage lenders, do they give great rates, good customer service? (These are some of my specific questions.) Also, Is it a hard or soft pull? I'm eligible.

Re: NFCU Questions

baller4life — Tue, 28 Oct 2014 21:10:43 GMT

Hard pull. Great customer service,great rates,great promotions. Extremely generous. The largest and wealthiest CU in the country. You'll be very pleased

Re: NFCU Questions

Amarie003 — Wed, 29 Oct 2014 02:18:36 GMT

Thanks, sounds like they're dependable and worth joining. I have to admit I am dreading an EQ pull, I have 9 inquiries that fall out 4/2015 from buying a car last year. I was in the garden. :-(

Re: NFCU Questions

Creditwiser — Wed, 29 Oct 2014 02:31:02 GMT

Yes, an HP when I joined. However, I received another HP when I app'd for their Visa card and several SP's were pulled as well. I did however app for a car loan on Oct 15th. They used my previous HP to approve the loan. I couldnt believe it but they did. I have to say they are a Bank of a different color. Always prompt and pleasant to deal with. The reps are polite and helpful on the phone and like someone else said, one of the largest CU's in the country with over 500k members. Generous credit lines too. Definitely worth an HP IMHO.

Re: NFCU Questions

Amarie003 — Wed, 29 Oct 2014 02:49:28 GMT

Thats great! Congrats on your new car as well. Do they make you prove yourself worthy of their low rates? Or were you eligible for their competitive low rates immediatley after joining. With some CU's I know there is a time period they use to feel you out before you are offered the best that they can offer.

Re: NFCU Questions

Creditwiser — Wed, 29 Oct 2014 03:34:02 GMT

Well, let me put it this way. If you look below at my siggy you'll see that I am just a few months post disch from BK7. Thats said, It took NFCU all of 3 hours to approve my loan and I receieved an interest rate of 3.5% Talk about about falling off the chair ! To add to this they gave me a Visa Card as well, albeit a 1k limit. Thats okay though, they gave me a chance to redeem my creditworthiness and thats okay in my book. I joined Navy in September. Here I sit in Oct with a 28k car loan at 3.5 and a Visa Card. Does it get any better than that ?

Re: NFCU Questions

Amarie003 — Wed, 29 Oct 2014 03:38:57 GMT

Seriously, congrats to you! :-) I love hearing stories like yours. I can truly see where you're coming from. I think I'll have to hold my chin up and take the HP. I'm such a wuss sometimes! Lol. I know this will benefit me in the future. I just had to hear from members like you to give me the extra push. Thanks for the feedback!

Re: NFCU Questions

fishbjc — Thu, 30 Oct 2014 16:45:11 GMT

The only 'ugly' thing I can think of is DON'T BURN THEM. They're relentless in their collections approach!!

I understand that some people have to default for reasons beyond their control.....

However, that's one of the reasons they're so healthy and generous!!!!!!!

Re: NFCU Questions

Anonymous — Thu, 30 Oct 2014 17:21:02 GMT

@fishbjc wrote:
The only 'ugly' thing I can think of is DON'T BURN THEM. They're relentless in their collections approach!!

I understand that some people have to default for reasons beyond their control.....

However, that's one of the reasons they're so healthy and generous!!!!!!!

Not to mention a huge portion of their member base have "guaranteed" incomes.

Just sayin!

Re: NFCU Questions

Anonymous — Thu, 30 Oct 2014 17:19:27 GMT

@jettech wrote:
Yes, an HP when I joined. However, I received another HP when I app'd for their Visa card and several SP's were pulled as well. I did however app for a car loan on Oct 15th. They used my previous HP to approve the loan. I couldnt believe it but they did. I have to say they are a Bank of a different color. Always prompt and pleasant to deal with. The reps are polite and helpful on the phone and like someone else said, one of the largest CU's in the country with over 500k members. Generous credit lines too. Definitely worth an HP IMHO.

They are actually THE largest CU in the country, with over 5 million members.

https://www.navyfederal.org/about/about.php

Re: NFCU Questions

Creditwiser — Thu, 30 Oct 2014 17:26:31 GMT

Oops, yes thats correct. When I log on to their website they always remind me that over 500k members use their mobile app. I guess 500k stuck in head. Thanks for correcting me and reading my post

Re: NFCU Questions

Legal_Girl — Thu, 30 Oct 2014 23:22:30 GMT

The good: Excellent Customer Service, Great Credit Limits, my VA Mortgage went so smoothly I only gave them 1 paycheck stub (I get paid monthly) and absolutely NO problems, Customer Service is available 24 hours per day by phone and 365 days per year. Oh and they do not sell any of their morgages...They service them all.

The bad: They are Hard Pull crazy.. Mine was TU for membership and Equifax for CC and checking LOC.

But they are absolutely awesome.

Re: NFCU Questions

Amarie003 — Fri, 31 Oct 2014 00:25:31 GMT

fishbjc: Thanks for the “DON’T BURN” advice, words to live by!!

CGDefender: Thanks for the correction 500k vs 5 million is a huge difference. BTW nice credit scores too!! I’ve currently been stuck at 728 across all 3 basically all year.

jettech: Your comments were still very much appreciated! Thank you.

Legal_Girl: Congrats on your new mortgage. And thanks for the bit of knowledge about them not selling their mortgages. I can’t think of any other way(s) to make my score move any higher than to get ready to be a homeowner so I’m glad they’re a dependable mortgage servicing company as well!

Re: NFCU Questions

Legal_Girl — Fri, 31 Oct 2014 21:50:43 GMT

They really were great during the whole mortgage process. If my loan officer or processor did not answer if I had a question, they called me back immediately. They love using Email too and that was great for me since I was at work during the normal hours. I was only in underwriting for about an hour and then got my email for Clear to Close. I hope things go as smoothly for you as they did me.

Let us know..

To the OP, they really are great all around.

Re: NFCU Questions

Creditwiser — Fri, 31 Oct 2014 21:55:25 GMT

NFCU will be my first choice when I app for a new mtg in 2016. Its nice to know theyre no different when it comes to mtg's

Re: NFCU Questions

Anonymous — Sun, 02 Nov 2014 08:19:02 GMT

All these posts about NFCU make me jealous that I am ineligible. If only there was a donate/join X organization method like some other CUs offer.

Re: NFCU Questions

tmoney — Sun, 02 Nov 2014 10:16:39 GMT

I have been never turned down for any credit product that i have applied for with NFCU. I have two creidit cards (25,000 limit each) LOC 15,000 cl, Personal loan 38,500 and have financed a vehicle. They will hp a lot and sometimes asked for paystubs but they will offer or counter offer almost everytime .

Re: NFCU Questions

Amarie003 — Mon, 03 Nov 2014 21:32:11 GMT

@tmoney: That's great! I know, they sound very HP happy, which is why I'm still over here scared to apply. (Im such a chicken lol).

Also, I'm sure I could guess the answer on this one, but I'll ask anyways. Do they pull the credit for anyone you make a joint account holder or AU for credit cards? I don't like surprises.