PenFed and NFCU

[Anonymous]

After a really rough year my scores are going up again.

There are things I would like to do that are going to require things like personal loans. As such with my research I believe I would be smart to join both PenFed and nfcu.

I've been researching what it takes to join and nfcu looks like I can join it simply because my grandfather was in the military.

Is PenFed the same way? And would it be worthwhile to put any of my direct deposits going to either of these accounts once I create them?

Signature scores and information are not accurate and will be updated next month.

And does anyone know score and other qualifications needed besides the military tie to get in?

Not only was my grandfather in the military, actually both my grandfathers and my step-grandfather, but my living uncle and my uncle who has passed away were in the military and have another Uncle he was in the military.

If Family Ties Are enough for both I shouldn't have any issues getting in.

Thanks for any and all advice.

[Green456]

PenFed anybody can join. Just remember to wait with using them as your primary banking institution until 6 months have passed. The reason is that they severely limit your account. You will not be able to do ACH transfers or ebill payments over $50. You will not even be able to have same day transfers between your own accounts. Deposits into your account are on hold for several days. After 6 months everything works just fine. I actually like them quite a bit and they are one of the few credit unions I didn’t close.
What really annoys me is their mobile app. I actually contacted CSR and file official bug report/feature request.

[Anonymous]

I've left Credit Union who have bad apps and won't sync with Mint or another provider. I like to go to see all my money in one place.

But it sounds like for PenFed when I open them I have $68 that I get separate and direct deposits and I'll probably just set that to go there for the first 6 months.

[teeluhz]

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@Anonymous wrote:
I've left Credit Union who have bad apps and won't sync with Mint or another provider. I like to go to see all my money in one place.

But it sounds like for PenFed when I open them I have $68 that I get separate and direct deposits and I'll probably just set that to go there for the first 6 months.

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I like their direct deposits. My job's official payday is Wednesday but PenFed will post it on Tuesday. The other restrictions are quite annoying though. I can't wait until my six month bid is over, lol.

[AverageJoesCredit]

Putting your money with either wont affect their credit lending decisions so do so only if its a good fit for you.You could have $5 in savings or 100k, it wont matter.

[Chache]

Is there a backdoor way into nfcu? If you dont have anyone in the millitary? Thanks

[Anonymous]

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@Chache wrote:
Is there a backdoor way into nfcu? If you dont have anyone in the millitary? Thanks

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They closed the only loophole so no, it's military or bust.

[Anonymous]

I was reading on that but didn't know whether there was a loophole still or not. But I'm grateful I have family that's been in the military so that I have this opportunity.