There is no "service area" problem with this credit union. They are open to all as long as you become a member of the organization they promote.
@ocheosa wrote:
@KLEXH25 wrote:I first read about this CU while reading @ChazzieT ‘s post CU's to join for Savings Rate now and possible Credit Products later! I was intrigued by their SmartStart Savings Account rate of 2% on the first $2,500, and 1.00% on the next $2,500, given that rates have been steadily going down across all HYSAs. Apparently, the rate was even higher pre-pandemic. I was also intrigued by their Cash Rewards Visa® Signature Credit Card, which gives 5% at all bookstores, including Amazon.com (as well as 2% back at restaurants, gas stations, and supermarkets). After mulling it over for a couple of months, I finally decided to join on Monday. Since I have not found much information about this credit union in the forums, I figured I would share the process with you all here for future reference.
The joining process was easy. Their geographical areas in NJ and CT are TINY, so I joined by donating $5 to the New Jersey Coalition for Financial Education (NJCFE). The application readily gave this option and allowed you to make your donation simultaneously. I selected the SmartStart Savings Account as my CU product, and they give you a $1,000* limit to fund your account(s) with a debit or credit card. If you opt for ACH or check, the funds would take several days to transfer. Since I didn’t want to wait (& to avoid a possible cash advance fee using a CC), I used my Discover debit card (FYI, this did not seem to trigger the 1% cashback like I was hoping). NOTE – the $1,000 limit includes the $5 donation and the $5 CU member share, so the remaining $990 went to the savings.
Towards the end of the process, they asked three questions to prove my identity. For me, they were:
- In what month was (my brother’s name) born?
- Which of the following addresses have you lived at (numerous options were given)
- What is (my mother’s name)’s state of residence?
The application specifies that the quicker you answer the better, so if they ask you tough questions, you may have some trouble if you take too long. According to comments on the Doctor of Credit website, some people complained that it asked them questions about family members that they were not close to and were denied membership for failing to answer correctly. Apparently, there was no getting around this during recon. This was one of the main reasons I did not apply for one of their credit products during the member application, since I wanted to make sure that my membership was accepted first. Also, they did not do a hard pull for membership (I wasn’t sure about this one).
Once the application was completed, I created a log-in (luckily you can make up your own user name, unlike DCU, which makes you wait to get your member number first). I also downloaded their app on my phone. My first impression of their website is that it is almost identical to DCU’s layout. It also appears that they do SP loan and credit card approvals. The quarterly FICO score that they give seems to be Experian 8, which is what I am guessing they use for lending decisions. I will have to confirm these points, but it certainly looks promising! The money transferred over to the account by the next day (Tuesday), and I was able to connect my other checking accounts to my Affinity account so that I can transfer over more money.
*According to comments on Doctor of Credit, the funding limit at some point was $3,000 - $5,000, but as of August 10, 2020 they limited the transaction to $1,000.
@KLEXH25 Thank you for posting your experience! I applied for membership today and as you mention it was super easy. The only difference, you enter chosen user id and password as a part of the application. The last page was a prompt to upload and submit your ID. Now it's pending final review and approval. I'm in NJ and plan to use affinity for business accounts. Once membership is approved, they let you snail mail the application with required documentation. My local credit union requires a branch visit to set up a business account. This was such a welcome opportunity since I have absolutely no intention of visiting public places just yet.
These banks are getting slammed with fraud. There is currently a sting operation going on in NJ and NY for theft from santander bank atms. It amazes me how these people figure out how to scam the system. If interested, here's the info on the article -
More than two dozen people who used prepaid debit cards to steal from ATMs at banks around New Jersey have been arrested, according to three law enforcement sources. The sources told NJ Advance Media this is a multi-jurisdictional investigation in...
https://www.nj.com/news/2020/08/dozens-arrested-in-widespread-atm-theft-scam.html
That's odd. They did not ask me to upload my ID or any other documents. I just had to enter my license number. I wonder why there was a discrepancy. I tried to remember as many details as possible and took notes, but I didn't write this up until several days later.
Interesting note about the fraud! I had no idea. People are always looking for an easy way to make money...it's sad but not surprising.
@ocheosa I forgot to ask, what did you apply for during your application? Savings, checking, credit?
No problem, and good luck! Tomorrow my youngest account hits 1 year, so I'm planning to apply for that Visa very soon. I'll report back when I do.
BTW it was recently ranked by Forbes as the #1 credit union in New Jersey:
https://www.forbes.com/best-in-state-credit-unions/#434832636167