@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
It's not a bank, it's a CU. CU's main purpose is to take care of its members, and of course make money, too, but theoretically that's not their focus. And NFCU doesn't have donations to get in. At least not anymore. You don't have to screw up your loans to get audited for membership eligibility. That's a whole separate issue.
We're not paranoid, we're just trying to warn future members and lurkers of the MyFICO community that claiming to be eligibile when they're actually not can result in account closures or possibly worse. We aren't insinuating that you're not eligible.
@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
Different type of audit. Because CUs are non-profit they have to maintain strict eligibility requirements and standards to retain that status. Because NFCU is the largest CU in the world, they're under heavy scrutiny. They can be required to do a random audit of accounts at any time. In order to avoid something like that, they occasionally sweep through accounts. There's nothing paranoid about it, it will happen. Question is, will your account be in the sweep this time.
@adelphi_sky wrote:
@OmarGB9 wrote:
@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
It's not a bank, it's a CU. CU's main purpose is to take care of its members, and of course make money, too, but theoretically that's not their focus. And NFCU doesn't have donations to get in. At least not anymore. You don't have to screw up your loans to get audited for membership eligibility. That's a whole separate issue.
We're not paranoid, we're just trying to warn future members and lurkers of the MyFICO community that claiming to be eligibile when they're actually not can result in account closures or possibly worse. We aren't insinuating that you're not eligible.
Let's be clear, there is a difference between applying online vs. going in person with proper ID to a branch. I don't want people to fear signing up. Some of the membership qualification discussions can get scary as if big brother will knock don't your door after an audit if you don't actually qualify, etc. etc.
Best chance to see if you qualify is to go to a physical branch and bring your docs and IDs and/or military family members or NFCU member, etc. - basically whatever you need to qualify. Pretty hard for them to accept you in person with qualifying docs and shut you out after the fact for some odd reason. I'd definitely have a problem with that.
Of course. I'm not trying to scare away anyone from applying with NFCU, I'm just saying people should do their due diligence and make sure they qualify for membership. If they have a branch nearby and can apply in-person, even better. NFCU is probably the best CU out there, and certainly if one qualifies they should try to get in. 
@adelphi_sky wrote:
@Jnbmom wrote:
@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
Nobody is "paranoid"
We just want members to know that you have to meet qualifications to become a member. And just beucase they may not ask or not check in the beginning doesn't mean they won't check down the road.
I have a feeling that this tactic coud get them into legal trouble. I think it is best for Navy FCU to verify upfront if someone qualifies. I can imagine a scenario where a person applies and asks NFCU if they qualify. If, NAVY says, "Sure, you qualify." without doing due diligence, then that could be legal recourse later down the raid if Navy tries to yank the rug out from under someone. What if that person already incurred fees and paid interest on products and then Navy says, "You don't belong here, we're shutting everything down." That person can say, "Well, I applied and YOU said I qualify. Now I have incurred financial injury due to your mistake."
Yes, I know some people try to get in fraudulently, but I think 99% of the people could fall into a trap if Navy ushers people into the door, takes some fees and interest, then pushes them back out because, "Oops, we thought you qualified, but you don't. Sorry for the inconvenience. Bye Felicia!"
But that's not how it works. If you don't qualify, you shouldn't be applying. They'll simply ask how you qualify, it's up to you to be honest. When applying, they tell you you can upload supporting documents and will sometimes even send a link to do so. Should they verify? They should, but you shouldn't be applying in the first place if you don't qualify. Defrauding a financial institution is a felony with hefty penalties. If someone wants to risk it for some high limit cards, that's on them. People on here have had their accounts frozen for months after being audited, while being qualified, because they didn't submit the correct paperwork. Imagine if they didn't actually qualify.
@Brian_Earl_Spilner wrote:
@adelphi_sky wrote:
@Jnbmom wrote:
@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
Nobody is "paranoid"
We just want members to know that you have to meet qualifications to become a member. And just beucase they may not ask or not check in the beginning doesn't mean they won't check down the road.
I have a feeling that this tactic coud get them into legal trouble. I think it is best for Navy FCU to verify upfront if someone qualifies. I can imagine a scenario where a person applies and asks NFCU if they qualify. If, NAVY says, "Sure, you qualify." without doing due diligence, then that could be legal recourse later down the raid if Navy tries to yank the rug out from under someone. What if that person already incurred fees and paid interest on products and then Navy says, "You don't belong here, we're shutting everything down." That person can say, "Well, I applied and YOU said I qualify. Now I have incurred financial injury due to your mistake."
Yes, I know some people try to get in fraudulently, but I think 99% of the people could fall into a trap if Navy ushers people into the door, takes some fees and interest, then pushes them back out because, "Oops, we thought you qualified, but you don't. Sorry for the inconvenience. Bye Felicia!"
But that's not how it works. If you don't qualify, you shouldn't be applying. They'll simply ask how you qualify, it's up to you to be honest. When applying, they tell you you can upload supporting documents and will sometimes even send a link to do so. Should they verify? They should, but you shouldn't be applying in the first place if you don't qualify. Defrauding a financial institution is a felony with hefty penalties. If someone wants to risk it for some high limit cards, that's on them. People on here have had their accounts frozen for months after being audited, while being qualified, because they didn't submit the correct paperwork. Imagine if they didn't actually qualify.
I get it. We both agree. But here is a DP from my own experience.
I went online to apply. They have a membership qulification checker that asks a number of questions. Imagine someone seeing a Navy Fed ad on the side of a bus (They are advertising in my area). They aren't hip to all the insider stuff we know about. They go online and apply. They answer the questions truthfully to their best knowledge. They get the "Congrats! You qualify." They send in the required docs. What I'm hearing is that there can still be a gotcha on the backend.
From my own experience, when applying, I was told by a CSR that I didn't qualify when at two different branches, including the website, I did. lol
So, now from this thread alone, I have in the back of my mind, perhaps one day the rug will be yanked out from under me even though two branches confirmed that I qualify. 
It sounds like applying for a Navy membership is tenuous even for those who qualify on the perifery of being a member of the military, a veteran, or related to one.
But they have great rates man! 
@adelphi_sky wrote:
@Brian_Earl_Spilner wrote:
@adelphi_sky wrote:
@Jnbmom wrote:
@dunn2500 wrote:some paranoid peeps here, ok dont call them then.....
if that day ever comes i am covered, but doubt it ever will unless i screw up the loan......they didnt seem concerned so neither am I.....it is an institution designed to make money afterall and since when has that been all above board......they have donations now for petes sake so you can enroll in CU you otherwise wouldnt qualify for.....
default on loans and screw your accts up i am sure there is an audit for every institution
Nobody is "paranoid"
We just want members to know that you have to meet qualifications to become a member. And just beucase they may not ask or not check in the beginning doesn't mean they won't check down the road.
I have a feeling that this tactic coud get them into legal trouble. I think it is best for Navy FCU to verify upfront if someone qualifies. I can imagine a scenario where a person applies and asks NFCU if they qualify. If, NAVY says, "Sure, you qualify." without doing due diligence, then that could be legal recourse later down the raid if Navy tries to yank the rug out from under someone. What if that person already incurred fees and paid interest on products and then Navy says, "You don't belong here, we're shutting everything down." That person can say, "Well, I applied and YOU said I qualify. Now I have incurred financial injury due to your mistake."
Yes, I know some people try to get in fraudulently, but I think 99% of the people could fall into a trap if Navy ushers people into the door, takes some fees and interest, then pushes them back out because, "Oops, we thought you qualified, but you don't. Sorry for the inconvenience. Bye Felicia!"
But that's not how it works. If you don't qualify, you shouldn't be applying. They'll simply ask how you qualify, it's up to you to be honest. When applying, they tell you you can upload supporting documents and will sometimes even send a link to do so. Should they verify? They should, but you shouldn't be applying in the first place if you don't qualify. Defrauding a financial institution is a felony with hefty penalties. If someone wants to risk it for some high limit cards, that's on them. People on here have had their accounts frozen for months after being audited, while being qualified, because they didn't submit the correct paperwork. Imagine if they didn't actually qualify.
I get it. We both agree. But here is a DP from my own experience.
I went online to apply. They have a membership qulification checker that asks a number of questions. Imagine someone seeing a Navy Fed ad on the side of a bus (They are advertising in my area). They aren't hip to all the insider stuff we know about. They go online and apply. They answer the questions truthfully to their best knowledge. They get the "Congrats! You qualify." They send in the required docs. What I'm hearing is that there can still be a gotcha on the backend.
From my own experience, when applying, I was told by a CSR that I didn't qualify when at two different branches, including the website, I did. lol
So, now from this thread alone, I have in the back of my mind, perhaps one day the rug will be yanked out from under me even though two branches confirmed that I qualify.
It sounds like applying for a Navy membership is tenuous even for those who qualify on the perifery of being a member of the military, a veteran, or related to one.
But they have great rates man!
Well, we all know phone CSRs aren't always the most well-informed. No matter how nice they are at Navy. 