Audrey, my DH joined NFCU last week and after several days of on line application, uploading of docs and unfreezing of credit he opened a joint share account and a 17 mo CD. We are joint owners of the share account and CD. I then learned from one of their CSR's that I qualify for membership as well, as the relative of the qualifying member and even though I am joint on the CD, I was told if I join as a member, that we can open another $50,000 CD with Me as member and DH as joint owner, so $100,000 max, one per member. We are contemplating doing it.
I must say though that their process is not as smooth as NASA's for example. You can arrange for a free transfer with a verbal conversation with a CSR. I did this to fund the share account with $55, from my B&M bank, $5 for the Share account and $50 to start the CD. That was a 2 step process of $55 to the share account and then open a CD and fund with a transfer from the share ac. The $55 from B&M did happen overnight though. I then planned to push from Ally the remaining $49, 950 to the share account. In order to set up NFCU with Ally you of course have to verify. Instant verification did not work. Next choice was the small deposits method, which I thought worked, but after pushing the funds on 1/16 from Ally and not seeing them show up after 2 days, I realized the transfer was rejected and went back to Ally. After another phone call with NF, I found out that Ally wants to be able to pull and push. NF will not allow a pull, at least from a share account, so Ally disabled the link. They tried to pull back the small deposits before pushing the $49K, but the pull did not work. On that same call to NF, I arranged for a transfer again with NF as I had for the $55. I arranged for that on the 18th, but the funds only showed up overnight today. There was a holiday of course this week, but I found the time factor annoying. I did figure out finally though that I could open a checking account at NF which Ally can push and pull from, so if you decide to go through this, my suggestion is to open a checking account as well as your transfer vehicle.
Sorry about the long winded details, but you are so helpful, I thought I'd relay my experience to you.
Oh and the EWP is 180 days.
And I also just realized that Adrift laid all of this out, with many fewer words��
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