Navy Federal CU Membership Eligiblilty Widens

[OAG]

May be old news but now NFCU is not open to eligible Army and AF personnel. See the home page at www.nfcu.org for details and online or mail in applications.

[heardoc]

That's navyfcu.org. and I still prefer USAA.

[OAG]

Quote:

Originally Posted by heardoc That's navyfcu.org. and I still prefer USAA.

Either one will work......(test them before you post them).

[heardoc]

Either one will work......(test them before you post them).

Nope, NFCU.org won't work for me. Didn't the first time I looked either

[Spanky]

Quote:

retirees and annuitants

Is a person served only 4 years in USAF considered as a retiree?

[REWahoo]

Quote:

Originally Posted by Spanky Is a person served only 4 years in USAF considered as a retiree?

Not under normal circumstances.

[calmloki]

odd - clicked R Woods link and it opened up - grabbed the URL and it is this: Navy Federal

Not that it does me and my 4 years as a sonarman any good. Not eligible, though Pentagon Fed accepts me and anyone else with a spare $20.

[JPatrick]

Question for Navy Fed members:
I'm a USAA and PenFed member. How would I benefit by opening a NavyFed account?
I can think of one--Membership can be passed to the kids and then to their kids someday.
Anything else??

[rec7]

I wish I could join.

[Boxkicker]

I have been an NFCU member for 20 years and its the only bank/CU I have ever belonged to. I have used them for mortgages, loans, etc.. Never had a problem.

I just joined USAA for the insurance possibilities, so I couldn't tell you the pluses, minuses, etc...

[OAG]

Quote:

Originally Posted by JPatrick Question for Navy Fed members: I'm a USAA and PenFed member. How would I benefit by opening a NavyFed account? I can think of one--Membership can be passed to the kids and then to their kids someday. Anything else??

NFCU can be a good source of CD's Rates (not so much lately but they have been in the past) - Sometimes they beat PFCU. Can be another source of deposit insurance to cover savings.

Also, they have about the lowest Car Loans around (without checking; I think they have a 3.75% 36 month loan and beat PFCU.

The legacy factor can be good for the kids and grandkids later. (PFCU has the same option I believe).

BTW NFCU is the #1 (in size/deposits) CU in the USA - PFCU is 3rd.

Cost to open: Nothing (beyond the $5 Share deposit).

[Purron]

Quote:

Originally Posted by R Wood BTW NFCU is the #1 (in size/deposits) CU in the USA - PFCU is 2d.

Actually, the second largest credit union is State Employees CU in Raleigh, NC. It's a state chartered federally insured credit union with $15.9 billion in total assets. Navy has $35.3 and Pentagon has $11.9. (Source National Credit Union Administration - Home Page)

[Nords]

Quote:

Originally Posted by JPatrick I'm a USAA and PenFed member. How would I benefit by opening a NavyFed account? I can think of one--Membership can be passed to the kids and then to their kids someday. Anything else??

I'm with all three now-- NFCU since 1978, USAA since 1981, PenFed since 2006.

Over the last few years PenFed & NFCU have been locked into a vicious struggle to beat each other's CD rates. PenFed has generally been winning but NFCU occasionally pops an extra quarter-point of interest rate onto a high-minimum CD. PenFed must be losing a lot of money on their $1000-minimum CDs, but they offer the best flexibility & rates. NFCU generally offers lower rates on $1000 CDs and only competes at higher minimum balances.

After you've reached your 25th anniversary with NFCU they hand out an extra quarter-point of interest rate on your next CD (or reduce your next consumer loan by a quarter point).

NFCU has generally been better on mortgages & HELOCs, but PenFed is learning fast. I especially like PenFed's "e-mail me when mortgage rates get to my alert levels" website feature, but NFCU just claims to be working hard on a similar feature.

NFCU has more member network ATMs, too, although that's not much of a difference.

[JPatrick]

Quote:

Originally Posted by Nords I'm with all three now-- NFCU since 1978, USAA since 1981, PenFed since 2006. After you've reached your 25th anniversary with NFCU they hand out an extra quarter-point of interest rate on your next CD (or reduce your next consumer loan by a quarter point)..

Ok, I'm sold. I'm going to do the threesome also.

Gotta get started on that 25 year deal right away...Sigh, suddenly the idea of buying a bunch of green bananas does not seem so risky.