Is NFCU via NLSD abusive?

[wasCB14]

Maybe this topic has been addressed in the 800+ post thread, but I'm not reading through all that.

This NFCU/NLSD fad does seem a bit abusive to me.

I think NFCU tries to stay true to their stated goal of catering to the military and related groups. SDFCU, by contrast, is very up-front about telling outsiders that they can join through the ACC. It's quite prominent information if you try to join through their website. But NFCU doesn't seem so relaxed. I don't think they want to be an "anyone and everyone" credit union. AFAIK, NFCU never tried to draw people's attention to NLSD the way SDFCU does to the ACC.

The idea that high-maintenance credit enthusiasts are swarming to them makes me sad. Many call about petty issues, take up CSR time, and cause delays for their intended members (actual military families). Some credit enthusiasts complain about recent customer service delays...but don't seem to feel any shame about collectively fueling them. I'd have no objection if this was a for-profit bank whose primary purpose was to make money rather than cater to the military.

When NL San Diego formed a relationship with NFCU, I think they expected the NLSD members would be San Diegans (thanks, Anchorman!) with a legitimate interest in the navy and/or somehow affiliated with the military (a huge part of the SD economy).

They were not expecting this.

Does anyone else think it's a bit abusive?

[OldFatJarhead]

NFCU didn't form a relationship with NLSD. They inheritted the relationship when they merged with USA Federal Credit union, which meant accepting the terms of USA Federal's charter. Believe me, every aspect of the merger was gone over and analyzed by some very intelligent people. They knew exactly what they were getting into and felt that overall, it would be a win for them.

That said, I do share at least the sentiments of your concern about culture shift of within the NFCU community. There's a *reason* I wanted to be an NFCU member again and it wasn't just the rates. I was in the branch yesterday finalizing re-opening my account and just being there felt like a homecoming somehow. Just being around so many other vets and other military-affiliated people in a non-military town felt good. I would hate to see that ruined by the riff-raff over-running branches.

For me, I used NLSD to re-establish eligibility and revive my 20-year old access number. Without the NLSD route, I would have been unable to do so. I'd tried before and no dice. I'm a veteran and belong to many USMC-related groups on social media. once I learned about NLSD, I posted that I had "the hookup" for any vets who didn't listen and open a Navy Fed account before EASing out of the Marines or who had messed up and gotten their account closed like I did. Several Marines I served with, and some strangers, messaged me for the info and were very appreciative of it.

So while I'm sure the sudden explosion of NLSD apps is a bit of an annoyance for NFCU, I doubt it's a net negative in the grand scheme of things. NFCU isn't hurting for money. They're expanding their headquarters in VA and adding 600 jobs. I'm sure only a handful of those new-hires are tsolely o help deal with the influx of NLSD applicants ;-)

[Anonymous]

For those of us who have family members who served and were honorably discharged but did not retire, NLSD provides a viable route to join.  I understand those who feel like they're just letting everybody in, but I wonder how widely distributed this nugget of information really is.  I'm sure there are many like me, who do/did have military family members who used this method to join.

[Anonymous]

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@Anonymous wrote:

For those of us who have family members who served and were honorably discharged but did not retire, NLSD provides a viable route to join.  I understand those who feel like they're just letting everybody in, but I wonder how widely distributed this nugget of information really is.  I'm sure there are many like me, who do/did have military family members who used this method to join.

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Yep. I'm an example of that. I'm a vet and had to take this route to get in.

[azguy13]

I feel like this is the civilian equivelant to being accepted into the VFW for just being stationed in Korea  

[Guyatthebeach]

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@wasCB14 wrote:

Maybe this topic has been addressed in the 800+ post thread, but I'm not reading through all that.

This NFCU/NLSD fad does seem a bit abusive to me.

I think NFCU tries to stay true to their stated goal of catering to the military and related groups. SDFCU, by contrast, is very up-front about telling outsiders that they can join through the ACC. It's quite prominent information if you try to join through their website. But NFCU doesn't seem so relaxed. I don't think they want to be an "anyone and everyone" credit union. AFAIK, NFCU never tried to draw people's attention to NLSD the way SDFCU does to the ACC.

The idea that high-maintenance credit enthusiasts are swarming to them makes me sad. Many call about petty issues, take up CSR time, and cause delays for their intended members (actual military families). Some credit enthusiasts complain about recent customer service delays...but don't seem to feel any shame about collectively fueling them. I'd have no objection if this was a for-profit bank whose primary purpose was to make money rather than cater to the military.

When NL San Diego formed a relationship with NFCU, I think they expected the NLSD members would be San Diegans (thanks, Anchorman!) with a legitimate interest in the navy and/or somehow affiliated with the military (a huge part of the SD economy).

They were not expecting this.

Does anyone else think it's a bit abusive?

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wasCB14,

I disagree with you to a point on this. When NavyFederal merged the USA FCU, they took on every tenant of the USA FCU charter, including allowing people to join through the Navy League-San Diego and through BAE. I joined in a branch on the east coast and was the first NLSD app they had, but they knew all about BAE. I left with a checking, savings, CLOC, and Visa acouunts. The process took a little over an hour, but the associate didn't mind, as I helped her meet her quota.

I stop in the branch to make a cash deposit once a month and mobile app all the time for everything else. I don't abuse the system. I actually respect the NFCU and the NL for the oppotunity. The lady that opened my accounts always says hi and gives me a hug everytime I'm in there. The staff at that branch and the other NFCU branch I use are nice. They do have the best service. I don't think I'm abusive at all. 

To me this is just another way for NFCU to get new members and grow the CU. It opens up a new market to them. I don't they are complaining too much.

I do agree that some people abuse the opportunity by not joining through their preferred methods. I also know that NFCU closes accounts regularly for those that join fraudulently, so it works out in the end.

As for the NL, they are getting a lot of money for membership fees. I do plan on renewing my membership every year and do attend the monthly meeting for the NL chapter near me. They aren't complaining because that money goes straight to fund some awesome projects. I see it as win for us, a win for the Navy League, and a win for NFCU.

[Anonymous]

IMO as a former NFCU employee even, I think that NFCU may even begin to exploit this to bolster its membership even more. The NCUA has restricted NFCU from expanding it membership field further, this is why they will not take any veterans outright, believe me they want too!! It is the NCUA who is trying to get them to pump the brakes as they are the largest credit union by far. So no I do not believe it is abusive at all, NFCU will always offer products and services that cater to those in military life, they also offer products that benefit every single citizen member as well. 

[Anonymous]

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@Guyatthebeach wrote:

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@wasCB14 wrote:

Maybe this topic has been addressed in the 800+ post thread, but I'm not reading through all that.

This NFCU/NLSD fad does seem a bit abusive to me.

I think NFCU tries to stay true to their stated goal of catering to the military and related groups. SDFCU, by contrast, is very up-front about telling outsiders that they can join through the ACC. It's quite prominent information if you try to join through their website. But NFCU doesn't seem so relaxed. I don't think they want to be an "anyone and everyone" credit union. AFAIK, NFCU never tried to draw people's attention to NLSD the way SDFCU does to the ACC.

The idea that high-maintenance credit enthusiasts are swarming to them makes me sad. Many call about petty issues, take up CSR time, and cause delays for their intended members (actual military families). Some credit enthusiasts complain about recent customer service delays...but don't seem to feel any shame about collectively fueling them. I'd have no objection if this was a for-profit bank whose primary purpose was to make money rather than cater to the military.

When NL San Diego formed a relationship with NFCU, I think they expected the NLSD members would be San Diegans (thanks, Anchorman!) with a legitimate interest in the navy and/or somehow affiliated with the military (a huge part of the SD economy).

They were not expecting this.

Does anyone else think it's a bit abusive?

---

wasCB14,

I disagree with you to a point on this. When NavyFederal merged the USA FCU, they took on every tenant of the USA FCU charter, including allowing people to join through the Navy League-San Diego and through BAE. I joined in a branch on the east coast and was the first NLSD app they had, but they knew all about BAE. I left with a checking, savings, CLOC, and Visa acouunts. The process took a little over an hour, but the associate didn't mind, as I helped her meet her quota.

I stop in the branch to make a cash deposit once a month and mobile app all the time for everything else. I don't abuse the system. I actually respect the NFCU and the NL for the oppotunity. The lady that opened my accounts always says hi and gives me a hug everytime I'm in there. The staff at that branch and the other NFCU branch I use are nice. They do have the best service. I don't think I'm abusive at all. 

To me this is just another way for NFCU to get new members and grow the CU. It opens up a new market to them. I don't they are complaining too much.

I do agree that some people abuse the opportunity by not joining through their preferred methods. I also know that NFCU closes accounts regularly for those that join fraudulently, so it works out in the end.

As for the NL, they are getting a lot of money for membership fees. I do plan on renewing my membership every year and do attend the monthly meeting for the NL chapter near me. They aren't complaining because that money goes straight to fund some awesome projects. I see it as win for us, a win for the Navy League, and a win for NFCU.

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I agree 100%.

[Anonymous]

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@Anonymous wrote:

IMO as a former NFCU employee even, I think that NFCU may even begin to exploit this to bolster its membership even more. The NCUA has restricted NFCU from expanding it membership field further, this is why they will not take any veterans outright, believe me they want too!! It is the NCUA who is trying to get them to pump the brakes as they are the largest credit union by far. So no I do not believe it is abusive at all, NFCU will always offer products and services that cater to those in military life, they also offer products that benefit every single citizen member as well. 

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Thanks for the insight.

[Anonymous]

OP I contemplated this when I posted the original thread with the step by step directions.

And there are a few points here that have been said, but that stood out to me when I counciled with others about this.

The big one is the membership donation to the navy league.  What better way to support the very foundation that supports our Navy and serviceman then to donate money to them?  They do things that none of us could ever do for the fine people of the Navy.

The other one is that this now helps former service persons that have been honerably discharged, but are still not able to join.  My father is in this category.  He recently bought a house, and was unable to finance with Navy even though he spend 8 years in the navy.  I was able to gain membership, and let him use my access number to open his own account.  Since, he has refied his house with, bought a car and also moved several hundred-thousand dollars into NFCU.  All because of the work I put in.  At that point, I decided it was worth sharing on a large scale.

Now look at how many people this has touched and how many it has helped.  Yeah there are going to be bad apples, but lets not ruin it for the whole bunch.  And NFCU has lots of things in place to stop or regulate those that are looking to abuse the system.  

At this point, NFCU is opening branches in several new cities, and who knows maybe hiring more CSRs over this?  Its a good noble cause to donate to, and in the long run has helped many, many people better themselves financially.  

So yes you can look at it your way, but I prefer to look at this my way.  It always makes me happy when I get PMs from members on here saying how grateful they are that I shared the info, and that after long last they were able to get in with Navy.

-YourWelcome