Once a Member, Always A Member
Written: Oct 12 '01
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Pros: great rates, customer friendly, easy to use website
Cons: Limited locations
The Bottom Line: A must join for Marines, Navy, and family members!
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| kimmyjj's Full Review: Navy Federal Credit Union |
My parents opened me a savings account with Navy Federal Credit Union as a child. The did this knowing that once I had an account, I became a member. Even if I do not serve in the military, I would be a member for life. Navy Federal Credit Union offers financial services to eligible personnel of the Navy and Marine Corps and members of their families. You can become a member by completing a Membership Application and purchasing at least one $5 share in the credit union.
My primary use for Navy Federal is for my credit card and for my loans. I have had 2 car loans, my home loan, and one credit card with them. I live in Missouri and the bank is located in Virginia. Navy Federal Credit Union, dealing with military personnel, are use to doing business over the telephone. That is the main reason I borrow money from them - they make it easy and convenient.
They have 24 hour a day, 365 days a year loan telephone line. You can also apply for a loan via their website (www.navyfcu.org), visiting a member service center, or mailing in an application. I have always used the telephone. The customer service representatives are informed, well trained persons who are always ready to help. They ask the right questions and get you your money.
The first loan I received from Navy Federal was a loan for $5000 for a car. I was approved before I even hung up the telephone. Now that's service! I had the check in my hand within a few days. Loan protection life insurance is provided at no charge, up to $10,000, for the repayment of your loan in the event of your death. They offer 100% financing, including tax, title and tags on vehicle loans.
My second car loan went the along the same line - I called and was approved over the telephone. My home loan was a bit more difficult, however it was all said and taken care of within 30 days. I had to fax and Federal Express papers back and forth between the bank and I, but Cindy, my account representative, was wonderful. She helped me through the entire confusing process.
As for my credit card - it's a life saver! I started out with a student Visa, but when I graduated from college, I changed it to a regular Visa. This increased my credit limit. That is the only change I noticed. A 24 hour service line is available to call for questions or for account balance inquiries. Navy Federal does not charge a late fee if I miss a payment. Also, if I make a large payment (at least twice the minimum balance) - I do not have a minimum payment the next month. This has saved me a time or two in a crunch with bills.
My most favorite part, though, about Navy Federal Credit Union is - no phone calls! I have received calls from them only when I was processing my home loan. The rest of the time they leave you alone! One thing I hate is when I sign up for a credit card and they call you every other week wanting you to get the protection plan for $50 a year, or sign up for some other kind of card, etc.
All in all, Navy Federal Credit Union is a fabulous place to do banking business if you are in the Marine Corps or Navy - or a family member. I will forever be thankful to my parents for opening me a savings account with them!
Recommended:
Yes
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Epinions.com ID:
kimmyjj
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Location: Missouri, USA
Reviews written: 61
Trusted by: 64 members
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