NASA, NAVY or PENFED?

[Anonymous]

Greetings!

I want to switch my primary bank from PNC to either NASA, NAVY or PENFED. Which is the better credit union? I am already a member with all three and plan on apping for an auto loan in April/May. 

Thanks!

[bettercreditguy1]

There is no one best financial institution. Apply with the firm you feel most comfortable doing business with. At  current interest rates, a few dollars a year in interest paid/saved is a moot point. 

[Anonymous]

All three seem to be the best around. I doubt you will have much trouble with any of them. Personally, I would compare their credit or loan products to see which could be most beneficial for your long and short term goals. NFCU have some very attractive mortgage products, PenFed has given many members of this forum a generous auto loan and many people here say nice things about NASA. All three seem to be generous with CC SL/ongoing CL and top-notch customer service.

[AverageJoesCredit]

Cant get any better advice than already posted . You just have to compare and see what fits best for you as im sure all 3 offer something that will please someone.

[SouthJamaica]

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@Anonymous wrote:

Greetings!

I want to switch my primary bank from PNC to either NASA, NAVY or PENFED. Which is the better credit union? I am already a member with all three and plan on apping for an auto loan in April/May. 

Thanks!

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1. NFCU is friendliest and most generous.

2. PenFed has lower interest rates than NFCU.

I have, and like, both. Both provide versatility, good customer

service, and IMHO excellent website functionality.

3. NASA FCU used to be regarded as friendly and generous, but

there have been many recent reports of it taking adverse action, reversing

decisions, etc. I.e. there seems to have been some kind of reversal, about a year ago,

with the 'bad cops' taking over from the 'good cops'. I would suggest waiting for NASA

FCU to make up its mind as to what kind of institution it wants to be. They turned me

down for a card about a year ago, just as the 'new order' was coming in; after I read

the reports about them I was thinking maybe I was lucky to be turned down.

[Anonymous]

Yep, depends on your goals.  While those three (well at least two of them!) are much loved here, for some things, such as interest on checking accounts, you can do much better elsewhere

[Appleman]

I agree with SouthJamaica.

NASA FCU has not been easy to work with, my personal experience.

PenFed will be the easiest to join.

NFCU is great once you are qualified to be there at least.

[bettercreditguy1]

I have had nothing but positives to say about PENFED. Two auto loans, a Visa Card with an excellent APR/nice credit limit And super friendly and knowledgeable representatives.

[credit_is_crack]

I think most on here share a similar perspective - it all depends on what you expect to get out of them and how you plan to bank with them.

PenFed & NFCU have great service (24/7) and operate like a bank with a credit unions heart. I tend to get the best auto loan rates from PenFed and have 2 cards with them as well - total exposure is around $60k between the 3 accounts and i've never had more than $400 in deposits with them. PenFed weighs heavily on your report for extending credit than your 'banking' with them, in my experience. Plus when you run credit with them they'll let you use the same HP for 90 days (i've heard rumors that it was just reduced to 60 days). they are the most inquiry/new acct sensitive out of the 3 mentioned.

NFCU is really generous and mortgages are stronger with them, but most dont get a mortgage every other year so although its a large account, its not enough for me to move all my money there. They (and PenFed) have great mobile apps, mobile deposit options and both seem to be very trusting so they dont usually have crazy holds on deposits until you get beyond $25k on a single deposit. I'm a huge fan of both. PenFed does offer checking accounts though with rewards beating NFCU/Nasa

NASA FCU - they seem to have been going thru an identity crisis during the last 18 months. They want to be competitive with the other FCU's, but get too loose very quickly and when they realize it they turn into stingy lunatics. They aren't consistent enough. to me, Nasa is like a father-in-law. He's friendly, kind of at first, but the minute they find out i've dabbled in the family love they become very reserved and you feel the stares and scrutiny lol 

I have personal loans/cards at NFCU, auto loans/cards at PenFed, just closed out my NASA business a couple months ago. However i keep all my 'money' at USAA. i've been with them a while and trust them. it would take a lot for me to move all my banking away from USAA. it may not be 'which bank to go with' versus a combination of some or all to build a portfolio that fits your need and rewards you in different ways. Either way if those are the options you've narrowed it down to, you're likely to be satisfied to some degree just because of the caliber of bank(s) they are. Good Luck to you!

[Anonymous]

The short answer is:

NASA, NAVY *and* PENFED!

You can qualify for both Navy and Penfed the same way (Found here: How to join NFCU as a Civilian)

As for NASA, their recent reputation rivals Barclays for seemingly irrational AA - homey don't play that! (just dated myself there, dangit)

Good Luck!