Navy Federal Credit Union: Would you recommend them?

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tjh
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Navy Federal Credit Union: Would you recommend them?

Post by tjh » Sun Dec 21, 2008 10:03 am

http://www.navyfcu.org/

Family member is contemplating CDs and money market with them. Sharing any experience with them would be appreciated.

Any comments about safety of the funds? (as it sounds as though they are not FDIC insured). Per their site:
-The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000.
-Your accounts are backed by Navy Federal's assets and reserves. For an update on our operating statistics, please visit About Navy Federal.


http://www.navyfcu.org/savings_checking/safety.html
TJ

Polaris
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Post by Polaris » Sun Dec 21, 2008 11:29 am

The Navy FCU is a very large (3x the assets of Penfed) and highly regarded credit union. They offer frequent good deals on CDs and auto loans, with lots of detail about them at the Bankdeals Blog. I think the only reason we don't hear more about them here is because it is more difficult to join than Penfed. :)

Funds at Navy FCU are federally insured through the NCUA, which is basically FDIC insurance for credit unions. If I were eligible to join, I would do so in a heartbeat!

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dm200
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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Sun Dec 21, 2008 11:30 am

tjh wrote:http://www.navyfcu.org/

Family member is contemplating CDs and money market with them. Sharing any experience with them would be appreciated.

Any comments about safety of the funds? (as it sounds as though they are not FDIC insured). Per their site:
-The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000.
-Your accounts are backed by Navy Federal's assets and reserves. For an update on our operating statistics, please visit About Navy Federal.


http://www.navyfcu.org/savings_checking/safety.html
Navy Federal Credit Union is the largest credit union in the US. I have been a member for over 35 years.

It is federally insured by a US Government agency (NCUA), which is backed by the full faith and credit of the US Government. While it is a different agency than the FDIC, the backing of the full faith and credit of the US Government is identical to the FDIC is for banks/thrifts.

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dm200
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Post by dm200 » Sun Dec 21, 2008 11:39 am

Polaris wrote:The Navy FCU is a very large (3x the assets of Penfed) and highly regarded credit union. They offer frequent good deals on CDs and auto loans, with lots of detail about them at the Bankdeals Blog. I think the only reason we don't hear more about them here is because it is more difficult to join than Penfed. :)

Funds at Navy FCU are federally insured through the NCUA, which is basically FDIC insurance for credit unions. If I were eligible to join, I would do so in a heartbeat!
Navy Federal has recently expanded its field of membership to include members of all branches of the military. Immediate family (siblings, spouses, parents, children) of those in the field of membership or of existing credit union members. Household members (regardless of relationship) of eligible persons and members also qualify for membership.

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Post by Polaris » Sun Dec 21, 2008 11:50 am

dm200 wrote:Navy Federal has recently expanded its field of membership to include members of all branches of the military. Immediate family (siblings, spouses, parents, children) of those in the field of membership or of existing credit union members. Household members (regardless of relationship) of eligible persons and members also qualify for membership.
Unless you're willing to adopt me, I still can't get in. :lol:

I could have qualified when I had a summer job at a Navy base about 20 years ago, but didn't even know it existed back then...

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Post by chaz » Sun Dec 21, 2008 12:12 pm

dm200 wrote:
Polaris wrote:The Navy FCU is a very large (3x the assets of Penfed) and highly regarded credit union. They offer frequent good deals on CDs and auto loans, with lots of detail about them at the Bankdeals Blog. I think the only reason we don't hear more about them here is because it is more difficult to join than Penfed. :)

Funds at Navy FCU are federally insured through the NCUA, which is basically FDIC insurance for credit unions. If I were eligible to join, I would do so in a heartbeat!
Navy Federal has recently expanded its field of membership to include members of all branches of the military. Immediate family (siblings, spouses, parents, children) of those in the field of membership or of existing credit union members. Household members (regardless of relationship) of eligible persons and members also qualify for membership.

Do veterans qualify?
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page

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Post by Asterix » Sun Dec 21, 2008 2:45 pm

I've been a member for about 8 years now. If you're active duty their car and motorcycle loans have decent rates and are really (perhaps too) easy to get approved for. Since the loans are intended for deploying personnel, you can pay your bills in multiple-month lump sums and then they don't bill you for a while (not sure how many other banks do this.)

Their CD/savings rates never seem particularly competitive with a good online bank, though, and their online access is atrocious.

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Post by Polaris » Sun Dec 21, 2008 5:00 pm

Asterix wrote:Their CD/savings rates never seem particularly competitive with a good online bank, though, and their online access is atrocious.
I disagree about the CD rates, they have offered very competitive rates many times over the past couple of years. Right now (although the minimums are high) they have a 6 month CD at 4% APY and a 5 year at 5.10% APY, both of which are quite good.

Indexfan
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I recently joined Navy Federal Credit Union

Post by Indexfan » Sun Dec 21, 2008 6:18 pm

about 2 weeks ago as they recently opened membership to Army and Airforce personnel currrently serving in the active or Reserve force or retired from the Army or Airforce. I am retired Army.

Chaz to answer your question about whether veterans qualify for membership. Membership is open to all currently serving Active, Reserve, and retired DOD military personnel So prior service veterans not currently serving in the military or retired are not eligable for membership I believe. Someone correct me if I am wrong about this. Military association membership will not qualify you for membership also.

I'm wondering if anyone would mind sharing their recent mortgage experience with Navy Federal Credit Union eithier refinance or purchase.
Their fees are reasonable with no junk fees like alot of banks have.

Rates are dropping and I'd like to refi my 6.75% 30yr fixed to a
15 yr fixed in the near future.

:D



Best Regards.......Jim

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dm200
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Post by dm200 » Sun Dec 21, 2008 7:00 pm

I'm wondering if anyone would mind sharing their recent mortgage experience with Navy Federal Credit Union eithier refinance or purchase.
Their fees are reasonable with no junk fees like alot of banks have.
Outstanding!!! VERY LOW closing costs, and they have their own settlement firm, which had these low fees. Ours was a refi with a very low loan to value ratio, so we were able to get a waiver of escrow. They pull the money from our checking account automatically every month.

A+++

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Post by cmorton222 » Sun Dec 21, 2008 7:53 pm

I have been a member for 4 years and I used NFCU for my first mortgage. I was able to avoid mortgage insurance and the rate was better than the local credit unions at the time. I haven't had any problems with them or their online access. They made everything really easy so it didn't matter that there wasn't a local branch nearby.

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NFCU

Post by tomd37 » Sun Dec 21, 2008 8:24 pm

I am starting my 49th year with NFCU. Their interest and savings rates are usually better than most CU's and banks, although there have been times when local rates have been better. Have used them for car loans many years ago, but cash is king in the past twenty years for me.

Their current savings and money market account rates can easily be significantly exceeded locally. Can't understand that for a CU with ~3,000,000 members.
Tom D.

Indexfan
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Thank You For The Favorable Comments

Post by Indexfan » Sun Dec 21, 2008 10:55 pm

regarding your mortgage experience with Navy Federal CU.

Navy Federal's closing fees are a little higher than Pentagon Federal CU
but not by much as I have checked with both of their mortgage departments on this. I am also a member of Pentagon Federal CU
and both are quality, conservative financial organizations with high lending standards in my opinion. Both service their own mortgages which is a plus in my book also!

Thanks for the information on Navy Federal's CD rates as they seem very good.

Best Regards...... Jim

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NFCU 23 years

Post by 29palms » Sat Nov 13, 2010 10:34 pm

I joined up with NFCU in 87 as a contractor working for the MPS ships out in Diego Garcia. I was actually in the IRR from the military with an ID card, but that is not how I remembered joining that credit union. I joined under DOD CONTRACTORS working on military installation where no other banking (Credit Union because there was Amex bank there) facilities existed.
I used them for direct deposit while on ships, have used two car loans, a student loan, have a visa platinum card, used roth ira, traditional ira, cd's, savings and checking. I dont use them as a primary bank at the moment but still have those accounts with them, and send money there from time to time, usually to cover my automatic visa withdrawls. It's worked great for me, I am always pre-approved for loans. I hear all over this board about USAA this and USAA that, but I won't switch. I do use USAA for auto and homeowners insurance as of recently when I found out I was qualified as a honorably separated vet.
But NFCU is the best banking I've ever done. I see they've opened up membership to all in the armed forces but kind of saddened they leave out the Coast Guard. If you ask me, I believe all HONORABLY separated veterans should have the right to join a military credit union, just like USAA has accepted them for USAA membership. I would gladly welcome fellow veterans in my pool of membership with NFCU. It's a kickrass credit union, bar none.

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Post by fishnskiguy » Sat Nov 13, 2010 10:37 pm

Been with them since 1965. Never an issue. Utterly above board.

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Post by enderw88 » Sat Nov 13, 2010 11:27 pm

dm200 wrote:
I'm wondering if anyone would mind sharing their recent mortgage experience with Navy Federal Credit Union eithier refinance or purchase.
Their fees are reasonable with no junk fees like alot of banks have.
Outstanding!!! VERY LOW closing costs, and they have their own settlement firm, which had these low fees. Ours was a refi with a very low loan to value ratio, so we were able to get a waiver of escrow. They pull the money from our checking account automatically every month.

A+++
Ditto. I am on my third mortgage with NFCU. I had one mortgage through WaMu ten years ago that was atrocious....

Totally agree with a previous poster about the online access...
Craig | Tucson, AZ

29palms
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WAMU?

Post by 29palms » Sat Nov 13, 2010 11:53 pm

Well, I had mine through WAMU but they got swallowed up by Chase. Now my mortgage is through Chase. I was wondering if you know a way to have NFCU take over my mortgage. How does this work? Does it take a refinance?

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Re: WAMU?

Post by enderw88 » Sun Nov 14, 2010 12:25 am

29palms wrote:Well, I had mine through WAMU but they got swallowed up by Chase. Now my mortgage is through Chase. I was wondering if you know a way to have NFCU take over my mortgage. How does this work? Does it take a refinance?
Yes, it would take a full ReFi through NFCU. My condolences on Chase. I dealt with them for several years for my personal banking and finally got fed up and ditched them for a local credit union (NFCU has no branches nearby and my wife is very old school)...
Craig | Tucson, AZ

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Post by gmtret » Sun Nov 14, 2010 2:26 am

I have been a member since the mid-seventies, and have nought but good to say about them... :P

Good luck,
Chris
"The most beautiful thing we can experience is the mysterious. It is the source of all true art and science." | - Albert Einstein

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Re: WAMU?

Post by 29palms » Sun Nov 14, 2010 2:37 am

[quote="enderw88"][quote="29palms"]Well, I had mine through WAMU but they got swallowed up by Chase. Now my mortgage is through Chase. I was wondering if you know a way to have NFCU take over my mortgage. How does this work? Does it take a refinance?[/quote]

Yes, it would take a full ReFi through NFCU. My condolences on Chase. I dealt with them for several years for my personal banking and finally got fed up and ditched them for a local credit union (NFCU has no branches nearby and my wife is very old school)...[/quote]



I'm in the same boat. I have a local credit union I been banking with for past 11 years. Not a bad little bank. Chartway Fed CU. But in comparison to NFCU, I just like my NFCU I guess cuz I been with them longer, have more of a rep with them. Only problem is there is no NFCU near here, but everything seems to have gone online anyway, and how often do I need to go inside a bank? I use ATM's most of the time, then I write checks. Anything I need to do is all online or in the telephone. So I've been setting myself up to go back to NFCU primarily, to mean, sending my direct deposits back to NFCU. I only mortgage through Chase being WAMU got taken over by them. So far, no problems with my mortgage. I'm at 5.375 percent. I had refinanced from 7.00 about 7 years ago. Don't know if all that was worth it. It's a 30 year mortgage.

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wander
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Post by wander » Sun Nov 14, 2010 3:02 pm

Navy Federal Credit Union: :thumbsup

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Post by mapleosb » Sun Nov 14, 2010 5:46 pm

chaz wrote:Do veterans qualify?
Hi Chaz,

Not unless you are retired or can fit into one of the other categories. I have written to them many times asking if they would one day open up membership to veterans as USAA Bank did awhile back.

I was in the Navy and a member and closed all my accounts many years ago thinking I wouldn't ever want to use them again... big mistake in retrospect and one of the entries in my "Dumbest things in Life" book. :(

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Post by 29palms » Sun Nov 14, 2010 6:15 pm

I would be looking soon for that VETERANS membership to open soon. They know in the back of their heads that this is a great pool source to expand eligibility as USAA did. I bet they do it within next couple of years. It may be too late for some but then again, the timing may be great for others. How can you look the other way with an untapped source of 35 million possible members? 17 for the vets qualified and some 17 more for family members. Actually, there are more family members than veterans aren't there? Keep the faith and I'm for it if it means anything to you.
And I understand that some members will think that NFCU won't be the same credit union they knew, but it'll all come out in the wash.

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dm200
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Post by dm200 » Sun Nov 14, 2010 6:56 pm

29palms wrote:I would be looking soon for that VETERANS membership to open soon. They know in the back of their heads that this is a great pool source to expand eligibility as USAA did. I bet they do it within next couple of years. It may be too late for some but then again, the timing may be great for others. How can you look the other way with an untapped source of 35 million possible members? 17 for the vets qualified and some 17 more for family members. Actually, there are more family members than veterans aren't there? Keep the faith and I'm for it if it means anything to you.
And I understand that some members will think that NFCU won't be the same credit union they knew, but it'll all come out in the wash.
It may be a very different (and more difficult) matter for Navy Federal Credit Union to "open up" membership to just about any group beying what they serve now. Whatever membership eligibility expansion Navy Federal wants to do must be approved by the National Credit Union Administration (the primary federal regulator) as being within applicable laws and regulations. The rules can be complex.

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Post by 29palms » Sun Nov 14, 2010 7:25 pm

It can't be all that hard. Look at PFCU and look at SDFCU both. They have a back door membership policy. That's right. Anyone can join them by joining an association. Both of these credit unions are NCUA. Hell, if I was inelligible for NFCU, I could always join Penfed and State Department FCU's.
Penfed allows membership based on VFW membership and NAUS membership. Those are two veteran groups. They also allow membership that is non-military associated.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by Tabulator » Tue Jan 01, 2013 10:24 pm

Have any opinions about Navy Federal changed here in the past couple of years, or is the consensus still favorable?

I found a flood of bad reviews on a Yelp page for one of their locations in California, so it prompted me to check in with the opinions of the much more intelligent Bogleheads before I decide whether to join. :happy

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wander
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Re: Navy Federal Credit Union: Would you recommend them?

Post by wander » Wed Jan 02, 2013 7:41 am

Would I recommend it?
Yes.

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dm200
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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Wed Jan 02, 2013 9:14 am

multivoiced wrote:Have any opinions about Navy Federal changed here in the past couple of years, or is the consensus still favorable?

I found a flood of bad reviews on a Yelp page for one of their locations in California, so it prompted me to check in with the opinions of the much more intelligent Bogleheads before I decide whether to join. :happy
I hve been a Navy Federal Credit Union member for over 40 years. In my opinion, they are, and always have been, a fine organization. NFCU is trhe largest US credit union - and seems to be growong significantly as well, especially since they expanded the field of membership to all branches of the military.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by Tabulator » Wed Jan 02, 2013 10:32 am

dm200 wrote:NFCU is trhe largest US credit union - and seems to be growong significantly as well, especially since they expanded the field of membership to all branches of the military.
I can see largeness being either a good thing or a bad thing -- or both. Glad to know you think it is good.

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dm200
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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Wed Jan 02, 2013 10:48 am

multivoiced wrote:
dm200 wrote:NFCU is trhe largest US credit union - and seems to be growong significantly as well, especially since they expanded the field of membership to all branches of the military.
I can see largeness being either a good thing or a bad thing -- or both. Glad to know you think it is good.
I am not sure whether "largeness" is either good or not good for existing members of Navy Federal. I have always believed Navy Federal is an excellent institution, and it just so happens that they have grown a lot, as well as expanding the field of membership.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by Cottage » Wed Jan 02, 2013 3:02 pm

I've been a member for 15-20 years or so at this point, have used them for my mortgages (purchase, two refi's), and on the whole have always been very happy with them, but a few things that happened recently -- including one "biggie", imo -- has made me think that they've gotten too big, and are developing something of a "big bank" attitude towards their members. One issue was because of a stupid mistake on my part, which I was able to prevent/correct before incurring any fees. I didn't find the phone rep particularly helpful in that instance, however.

The "biggie" issue I had is, they failed to pay my Q4 property taxes! I had refi'd back in late Summer (just let escrow 'ride', since I was late in the process before I considered cancelling it), and for some reason, they decided that the title company was going to handle the taxes. I was --not-- happy when I got a delinquency notice from the township. (They paid the taxes from my escrow and paid the fees out of their own pocket.) I want to cancel escrow with them at this point -- I'm losing some trust in them, and when I put in my request, they denied it because my loan is "less than six months old". OK, I'll try it again as soon as I can But I'm thinking now, that they're not interested in keeping their members happy anymore, now that they have a much larger customer pool to draw from after a few mergers in recent years.

I have another account at a second (local) CU that's my "backup", and I occasionally look over their rates to see how they compare to NFCU, since Navy tends to be fairly competitive with the bigger players, and the local CU doesn't tend to compete at quite the same level (e.g., higher loan rates, lower savings rates). I'll stick with them for now, but if they cause me any more aggravation, I can switch to the backup CU with fairly minimal hassle.

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dm200
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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Wed Jan 02, 2013 3:10 pm

tjh wrote:http://www.navyfcu.org/

Family member is contemplating CDs and money market with them. Sharing any experience with them would be appreciated.

Any comments about safety of the funds? (as it sounds as though they are not FDIC insured). Per their site:
-The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000.
-Your accounts are backed by Navy Federal's assets and reserves. For an update on our operating statistics, please visit About Navy Federal.


http://www.navyfcu.org/savings_checking/safety.html
FDIC (federal deposit insurance for banks, thrifts) and NCUA (federal insurance for credit unions) is identical in safety, risk, etc. The FDIC does not (and can not) insure deposits at credit unions. NCUA offers that coverage (which is mandated fr federally chartered credit unions, many state chartered credit unions). Only a few hundred state charters in 9 states are not NCUA insured. Even in those states, all state charters can opt for NCUA insurance.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by thebogledude » Wed Jan 02, 2013 4:12 pm

Top 100 Credit Unions
#1 is Navy Federal.
Source:
http://www.creditunionsonline.com/top10 ... nions.html

I would say the top credit unions I've seen mentioned on the Bogleheads forum are Navy Federal, PenFed and Alliant.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Wed Jan 02, 2013 5:55 pm

thebogledude wrote:Top 100 Credit Unions
#1 is Navy Federal.
Source:
http://www.creditunionsonline.com/top10 ... nions.html

I would say the top credit unions I've seen mentioned on the Bogleheads forum are Navy Federal, PenFed and Alliant.
Navy Federal is #1 in SIZE, not necessarily in any other category.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by thebogledude » Wed Jan 02, 2013 8:21 pm

dm200 wrote:
thebogledude wrote:Top 100 Credit Unions
#1 is Navy Federal.
Source:
http://www.creditunionsonline.com/top10 ... nions.html

I would say the top credit unions I've seen mentioned on the Bogleheads forum are Navy Federal, PenFed and Alliant.
Navy Federal is #1 in SIZE, not necessarily in any other category.
Normally I would agree but in this case size MATTERS.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by scubacat » Thu Jan 03, 2013 1:22 am

I have been a member for 13 years and have financed a car loan with them and have nothing but good things to say.

Additionally, my sister went through a divorce and needed to refnance the house to get her ex-husband's name off the title. Her credit was good but she still had a fair amount of debt. The house had a mortgage and she owed on a HELOC which brought the LTV to around 90%. The mortgage was through B of A and a loan agent there assured her that since her credit was good, there would be no problem refianancing even though she was adamant that she couldn't bring any cash to the table. That was in Nov 2011. In April 2012, she called me upset because B of A was requesting yet another document and they kept stringing her along. I gave her my NFCU membership number and told her to become a member and then talk to one of their mortgage specialist. I said that if B of A came through, the most she would lose was the cost of a new appraisal. NFCU gave her a more competitive rate and she was able to close the first week of May. Someone came to the house with the paperwork for her to sign. The closing costs were low and she was happy. Two months later, B of A came back with a higher rate that initially quoted and requiring her to bring $40,000.00 to the table.

I will continue to NFCU.

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dm200
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Re: Navy Federal Credit Union: Would you recommend them?

Post by dm200 » Thu Jan 03, 2013 9:40 am

scubacat wrote:I have been a member for 13 years and have financed a car loan with them and have nothing but good things to say.

Additionally, my sister went through a divorce and needed to refnance the house to get her ex-husband's name off the title. Her credit was good but she still had a fair amount of debt. The house had a mortgage and she owed on a HELOC which brought the LTV to around 90%. The mortgage was through B of A and a loan agent there assured her that since her credit was good, there would be no problem refianancing even though she was adamant that she couldn't bring any cash to the table. That was in Nov 2011. In April 2012, she called me upset because B of A was requesting yet another document and they kept stringing her along. I gave her my NFCU membership number and told her to become a member and then talk to one of their mortgage specialist. I said that if B of A came through, the most she would lose was the cost of a new appraisal. NFCU gave her a more competitive rate and she was able to close the first week of May. Someone came to the house with the paperwork for her to sign. The closing costs were low and she was happy. Two months later, B of A came back with a higher rate that initially quoted and requiring her to bring $40,000.00 to the table.

I will continue to NFCU.
We have a mortgage with Navy Federal (refinanced with them once). VERY good experience. We used NFCU's settlement service the last time, and the costs were VERY low. Because it was a refinance with NFCU, many of the expenses that normally would be charged - were not because the things had been paid for the first time.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by Sbashore » Thu Jan 03, 2013 3:23 pm

Navy Federal is a bit conservative in keeping their website up to date. They do post some transactions (deposits, transfers, eft) slowly on occasion.

I would never recommend them for mortgage business. They almost cost me a newly built home, and were not honest with me in the aftermath. I mentioned it in a previous post.
Steve | Semper Fi

Tabulator
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Re: Navy Federal Credit Union: Would you recommend them?

Post by Tabulator » Thu Jan 03, 2013 4:21 pm

Sbashore wrote:They do post some transactions (deposits, transfers, eft) slowly on occasion.
Is it just slow or have you seen any errors?

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Re: Navy Federal Credit Union: Would you recommend them?

Post by stan1 » Thu Jan 03, 2013 4:42 pm

I've never seen an error with Navy Federal.
Their website is a bit cludgy (popup windows, hover-overs, inconsistent user interface between share accounts and mortgages, etc)
Not a reason to pass them by -- but you do have to look around a little and be careful about what you click on.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by Tabulator » Thu Jan 03, 2013 5:46 pm

stan1 wrote:Their website is a bit cludgy
I don't mind web problems as long as they are not security problems.

stan1
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Re: Navy Federal Credit Union: Would you recommend them?

Post by stan1 » Thu Jan 03, 2013 5:57 pm

multivoiced wrote:
stan1 wrote:Their website is a bit cludgy
I don't mind web problems as long as they are not security problems.
Well NFCU uses 4 to 8 character passwords without special characters.
So you would have to decide whether that's a security problem for you or not.

Tabulator
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Re: Navy Federal Credit Union: Would you recommend them?

Post by Tabulator » Thu Jan 03, 2013 6:42 pm

stan1 wrote:NFCU uses 4 to 8 character passwords without special characters
I would consider joining with the assumption that they will have no choice but to change that. How long can the world's largest credit union go on making such an obvious and stupid mistake?

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Re: Navy Federal Credit Union: Would you recommend them?

Post by stan1 » Thu Jan 03, 2013 7:15 pm

multivoiced wrote:
stan1 wrote:NFCU uses 4 to 8 character passwords without special characters
I would consider joining with the assumption that they will have no choice but to change that. How long can the world's largest credit union go on making such an obvious and stupid mistake?
See the ongoing thread on the same issue at Vanguard and Fidelity.
http://www.bogleheads.org/forum/viewtop ... st=1571818

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theduke
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Re: Navy Federal Credit Union: Would you recommend them?

Post by theduke » Thu Jan 03, 2013 8:26 pm

I have a NFCU account and my password has 13 characters. I also use special characters in it.

Ignis
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Re: Navy Federal Credit Union: Would you recommend them?

Post by Ignis » Thu Jan 03, 2013 11:36 pm

theduke wrote:I have a NFCU account and my password has 13 characters. I also use special characters in it.
Same here. Special characters have been allowed since I joined (early 2012). However, I was only allowed 8 characters. Time to update.

TO39
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Re: Navy Federal Credit Union: Would you recommend them?

Post by TO39 » Fri Jan 04, 2013 12:39 pm

I have been a member for 25 years. No problems with internet access. The only delay in postings I have noticed are for mortgage and Home Equity payments.

I am quite happy with them

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Sbashore
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Re: Navy Federal Credit Union: Would you recommend them?

Post by Sbashore » Fri Jan 04, 2013 12:41 pm

multivoiced wrote:
Sbashore wrote:They do post some transactions (deposits, transfers, eft) slowly on occasion.
Is it just slow or have you seen any errors?
No never saw any errors.
Steve | Semper Fi

stan1
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Re: Navy Federal Credit Union: Would you recommend them?

Post by stan1 » Fri Jan 04, 2013 4:47 pm

jgb wrote:
theduke wrote:I have a NFCU account and my password has 13 characters. I also use special characters in it.
Same here. Special characters have been allowed since I joined (early 2012). However, I was only allowed 8 characters. Time to update.
Interesting. I opened my account in 1998 and have had internet access since day 1. 4-8 characters alphanumeric are allowed when I change my password today. I'll email them.

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Re: Navy Federal Credit Union: Would you recommend them?

Post by digit8 » Fri Jan 04, 2013 7:14 pm

Navy Fed is IMHO a little slow in adopting what should be no-brainer product options(they've only had 3- 6- and 9-month CD options for a year or so), but the plus side is once they introduce them they tend to roll out relatively bug-free. I'm paranoid enough that I'd never keep to one bank, but Navy Fed has been my primary institution for 7 years with no problem.
"You can't latte yourself to bankruptcy. The bladder won't allow it." | -Katherine Porter

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