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Navy Fed Roomate Qualification?

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frank784
Contributor

Navy Fed Roomate Qualification?

Looking under the Navy Fed site it looks like I can join if my roomate is a member. When I called them they said all I would have to do is send in his member info and water bill/lease/etc....showing to show that he lives there. 

 

My friend who lives with me only lives there full time about 3 months of the year and our lease agreement states that. 

 

Without asking Navy fed is this works or not was looking for others opinion on here. He has been a member with them for about 3 months and has two credit cards so I don't want to jeopardize his relationship with them if I'm stepping over the line with a roomate that doesn't live year round. His mailing address is different than mine since he lives somewhere else nine months of the year. 

 

Just looking for some advice as I would like to join Navy Fed and this seems to be a way in but again not trying to push the envelope. 

 

Thanks again in advance. 

Message 1 of 6
5 REPLIES 5
bourgogne
Valued Contributor

Re: Navy Fed Roomate Qualification?

did you illustrate this exact scenario with the csr you spoke with?  That imo is the way to do it.  if they say its a go you can do the membership with the csr right on the spot.  my .02 is that your address has to match the member so if there is nothing to bind you then you have nothing.  hope it works out, the few times I have talked with nfcu I am amazed of how professional and helpful they are, they really are without peer imo

Message 2 of 6
frank784
Contributor

Re: Navy Fed Roomate Qualification?

I haven't yet but as far as the address is concerned my roomate would have his main address and I have a lease showing that we live together three months of the year. 

 

 

Message 3 of 6
UncleB
Credit Mentor

Re: Navy Fed Roomate Qualification?

Although we've not read any horror stories about accounts being locked recently the last few times we did read about it on here it was due to people using a roommate to gain membership.

 

Obviously NFCU allows it (since it's on their site) but just make sure every 't' is crossed and 'i' dotted; personally unless the roommate was clearly living with you full-time I wouldn't attempt it regardless of what a CSR says.  By 'clearly' I mean their name is on the lease and the addresses match up on your driver's licenses, and even better if they have at least one utility in their name.

 

Keep in mind also that if something does get flagged, all accounts will be locked, including deposit accounts (meaning your own money is unavailable until they finish).  In the past no amount of threats, begging, or foot-stomping got them to move any more quickly with their investigation.  Again, we've not heard of this in a while, so your roommate would probably be OK but it's not worth the risk if they aren't 100% legit with documentation to prove it.

 

Just my 2¢.

Message 4 of 6
Brian_Earl_Spilner
Credit Mentor

Re: Navy Fed Roomate Qualification?


@UncleB wrote:

Although we've not read any horror stories about accounts being locked recently the last few times we did read about it on here it was due to people using a roommate to gain membership.

 

Obviously NFCU allows it (since it's on their site) but just make sure every 't' is crossed and 'i' dotted; personally unless the roommate was clearly living with you full-time I wouldn't attempt it regardless of what a CSR says.  By 'clearly' I mean their name is on the lease and the addresses match up on your driver's licenses, and even better if they have at least one utility in their name.

 

Keep in mind also that if something does get flagged, all accounts will be locked, including deposit accounts (meaning your own money is unavailable until they finish).  In the past no amount of threats, begging, or foot-stomping got them to move any more quickly with their investigation.  Again, we've not heard of this in a while, so your roommate would probably be OK but it's not worth the risk if they aren't 100% legit with documentation to prove it.

 

Just my 2¢.


+1

 

My understanding is you have to be living with them full time and have to show proof that you contribute to the household in the form of the lease or utility bills. But then again, I just found out you can get them to release your direct deposit a day early, which I thought was a feature reserved only for active duty military. So who knows, but I would err on the side of caution unless you have money you can afford to have locked up.

    
Message 5 of 6
frank784
Contributor

Re: Navy Fed Roomate Qualification?

Thanks for the replies. I'll skip it as I wouldnt want to risk the other person's account even though I would probably become a member. Talked to the CSR and everything sounded ok but not 100 percent. 

 

Thanks again 

Message 6 of 6
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