@rooeez wrote:
@Anonymous wrote:
@rooeez wrote:
@Threeof5 wrote:You don't have to maintain NLUS membership once you're in with NFCU. I personally will continue to donate to the NLUS because I like the things they do for service members.
The rep I spoke with said email was the fastest route. I don't know if this was th case for me, as I had faxed my app six days prior, but two days after emailing my app, I was approved.
So is there anyone who has let their NLUS membership lapse and had no ill effect on membership with NFCU? I had the same question about having to do an annual renewal.
The NLUS side door is relatively new to most people, having started late April, early May of 2016 so the 1 year mark has not started for most. NFCU will not be checking with NLUS after one year on your membership nor will they ask you to provide updated membership information. Once you are a member of the credit union, you will always be a member unless you voluntarily leave the credit union or you do something egregious (like making threats, perpetrating fraud etc) to have your membership cancelled. Back in the early days of credit unions, most were employer sponserod, so when you left your job, your membership to the credit union was ended. Laws were changed in the late 1970s or early 1980s to allow the "once a member, always a member" benefit.
I see you have DCU. How did you join them? When did you join them? I am guessing that you joined DCU through dontating for one of their backdoor ways in. Has it been a year? Has DCU asked for updated membership info on your backdoor way in? Probably not, and neither will NFCU.
I see that the main thread about membership via NLUS for NFCU is from July, but wasn't aware that it wasn't in use much prior to that.
Except for my employee owned CU, my other CU eligibitily were met through one-time donations and not membership affiliations. I grant you it is unlikely that a CU would check eligibility after the initial account creation, but with my money/credit tied to the membership I would prefer not to have any doubt.
When doing a quick search for laws about the "once a member, always a member" benefit I find none; if you have a reference I would appreciate it. I can only find search results where it's dependant on the individual CU bylaws, though most seem to allow this benefit. Regardless, I do see that NFCU states it on their website (https://www.navyfederal.org/about/about.php), so no fear here.
Thanks for the education.
If you're truly concerned, send them a secure message and ask them the question directly, then print and save their response.
I'm 99% sure you'll be fine, but reaching out to them directly and saving a hard copy of the reply would take care of that other 1%. 