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So I have been searching to find a good credit union to join. I know from what Ive read that NFCU, USAA, and PENFED are among the best. My grandfather was in the Air Force for the korean war and my wifes grandfather fought in WWII with a medical discharge. I don't believe I can get into NFCU or USAA because they are only "veterans" and don't receive "DOD" benefits? But, I read on PENFED i can join by making a donation to Voices for American Troops? Anybody done this? Please inform me.
Thanks!
Good question, I am waiting for the answer too.
I just became a member of Voices for America's Troops a few minutes ago.
So, I don't know should I apply for PenFed now or wait for a few months..
lol I might just go for it but there are no branches around my area... I need some more info from the fico gurus
My first choice is NFCU but I am having trouble becoming eligible...
@rightcoast wrote:So I have been searching to find a good credit union to join. I know from what Ive read that NFCU, USAA, and PENFED are among the best. My grandfather was in the Air Force for the korean war and my wifes grandfather fought in WWII with a medical discharge. I don't believe I can get into NFCU or USAA because they are only veterans and don't receive DOD benefits. But, I read on PENFED i can join by making a donation to Voices for American Troops? Anybody done this? Please inform me.
Thanks!
I applied for the Penfed Platinum Rewards card, and as part of the application you have to join PenFed with a $5 share account and donate to one of the two orgs (I did the other one). This is all handled in the online application process. I provided some bank account information, and the $5 and the $20 donation were taken from that. So basically you are handheld through the process.
Of course, if your credit application is denied, you lose the money you donated (but the $5 share is still there for you).
Interesting. How is your membership going with PENFED? Are you pleased with CL's on CC's and interest rates. I dont have a branch in my area or I would go talk to someone. Now im nervous about apping? Are they tough
@Anonymous wrote:Good question, I am waiting for the answer too.
I just became a member of Voices for America's Troops a few minutes ago.
So, I don't know should I apply for PenFed now or wait for a few months..
Normally when the option is given to you to join an assocation to gain eligibility to join a CU, you would become a member of that assocation during the online application to join the CU. It looks like thats the case when you attempt to join Voices for America's Troops during the PenFed application. Its been a long time now, but when I joined PenFed, I believe it was through American Consumer Council association which qualifies you for membership with other CUs as well including PenFed. Looks like that is no longer an option, but joining Voices for America's Troops is a legit way to join PenFed CU.
@rightcoast wrote:Interesting. How is your membership going with PENFED? Are you pleased with CL's on CC's and interest rates. I dont have a branch in my area or I would go talk to someone. Now im nervous about apping? Are they tough
The card is fine ($20K CL and the standard 9.99% APR). For banking, I don't use them, that's what internet banks are for.
@rightcoast wrote:So I have been searching to find a good credit union to join. I know from what Ive read that NFCU, USAA, and PENFED are among the best. My grandfather was in the Air Force for the korean war and my wifes grandfather fought in WWII with a medical discharge. I don't believe I can get into NFCU or USAA because they are only "veterans" and don't receive "DOD" benefits? But, I read on PENFED i can join by making a donation to Voices for American Troops? Anybody done this? Please inform me.
Thanks!
If either of your or your wife's grandfathers is still alive, then he can join usaa as a full member, and then you can join as his relative. Theres no deposit to join. Contrary to what a lot of people think, usaa is not a cu. you don't have a member share acct like with a cu.
you can join penfed thru the orgs they list that you join first. I'm not sure of your credit situation, but Penfed is pretty conservative. On the plus side, I believe they will use the same HP to join for any credit apps within 30 days.