Navy Federal Credit Union

Pros: high intrest rates
Cons: big bank b/s

I joined Navy Fedural Credit Ubion (nfcu) back in 97 and for the most part it is a good back. there are the few exceptions. They are a large bank and are picky about who they give out loans to and how how much money they will give a person. So far i...

Pros: great service, interest-bearing sharecheck accounts, no-fee home equity loans and so on
Cons: no branches in my local area, stingy on credit, hard to reach on military paydays

I have been a member of NFCU since 1988 and have never had regret. When I was a young sailor, it was hard to establish credit with them, and I never understood that because they knew that the Navy owned me for the next four years. But when I first put...

Pros: So furious with their policies I cant say anything nice right now
Cons: Doesn't easily allow spouses to handle banking when hubbies are deployed.

Beware military spouses, especially stay at home moms!  They will not honor a power-of-attorney unless you come into the bank branch.  If you do then you need to bring the power of attorney with you everytime! I recently applied for a car loan ...

Pros: .Hours .location
Cons: .incorrect balance .rude .not willing to correct issues when they are in the wrong

Thursday, April 16, 2009 Warning!! All Navy fed user's need to read this Current mood: frustrated **Navy Federal customers: Warning** Keep an eye on your checking account and make a copy of your online statement daily. If I would have done ...

Pros: Free Checking; Good service
Cons: Crowded, long lines; No deposit drop box outside the branch, only ATMs.

This credit union offers FREE Checking. By that, they are not asking for a direct deposit or minimum balance to get the free checking. You get a free checking no matter what. All you need to do is to make sure that you have the minimum on your savings account, I believe its $5.00. They also have convenient Saturday hours but the locations can be crowded especially during Military paydays 1st and the 15th. I also love the online banking and telephone access. Although the phone access can be daunting at first, with all the long winded prompts but once you are familiar with the selections, its a breeze. I highly recommend this credit union.

Pros: good loan help
Cons: Did an electronic transfer out of my account that i did not authorize!

Initially i thought they were a good banking facility, but after they did an electronic transfer out of my account they were very bad in dealing with the situation. The customer service was very bad!

Pros: None
Cons: Poor Customer Service, Super busy branches, take money without warning or reason.

I see all these five star ratings and wonder....

NFCU is the worst bank I have ever dealt with! They are so antiquated in their set up, they don't allow you to call branches, and they draw money from your accounts for no reason. We recently had a deposit posted to our checking account, and for no reason they took the money and applied it to our credit card, which is in good standing! We pay above and beyond every month and before the due date! If you are looking for a military friendly bank go with USAA.

Pros: Wonderful customer service, no fees...
Cons: Not enough locations, long phone wait times...

In short this Credit Union is awsome! I've been a member for 23 years and enjoy the benefits of not only being a member but also working for them.

Pros: Approved loan base on my situation, vs. credit report score only.
Cons: No branch offices in San Francisco Bay Area.

I joined NFCU back in 1985 while I was temporarily assigned to Pearl Harbor. They are the most excellent credit union. I use them for my savings account and have an NFCU visa and a few loans.

Why I like them: I've never had a late fee or over the limit fee on my Visa, unlike other credit cards (MBNA). The NFCU Visa has a reasonable interest rate, I think 12%. They actually looked at my situation when I applied for a debt consolidation loan to pay off my credit card that had a 27.98% interest rate (MBNA). I also financed my BMW through them with a pre-approved used auto loan, and my previous car was financed through them as well. Never any problems. Nice customer service.

I keep my checking account with another bank, however, since NFCU does not have branches in my area.

Sign up now, Seaman Recruit! It will benefit you for the rest of your life.

Pros: Great customer service and rates.
Cons: Long wait on phone at certain times.

I first became a member of Navy Federal Credit Union in 1980. Since then, because I moved around a lot and was not close to a NFCU branch, I have had accounts in five or six regular banks and one other credit union. None of the banks or the other credit union matched NFCU in service, products or rates. The customer service is overwhelmingly better than any bank I have ever dealt with. Even though I now live in northern New Jersey and no NFCU branches are close to my house, I still do all of my banking with them.

The banks:
Bank of America
Whachovia
Fleet
First Union
Suntrust

Pros: NFCU is supportive of many Navy operations and families. They hire and train military spouses.
Cons: Inadequate employee training; long lines at facilities; better products available elsewhere for better rates.

25 years with this financial agency- they lost our house down payment(for several days due to bank teller error - the transaction was to take an hour at most). Then, when we sold our home, it took 5 different individuals and 2 weeks to get proof a line of equity had a zero balance. Each individual had a different story as to requirements and abilities.

Pros: Plenty of locations around Navy bases or areas with a large Navy population.
Cons: Poor customer service with no desire to improve.

This Credit Union makes banks look good. It is impossible to contact a person at a branch, their website is very inaccurate and their telephone service is an endless list of menus that often double back on themselves. It is not uncommon to go through 6 or 7 menus to get to the service I want. It seems that the more simple the issue or question, the harder it is to get it resolved.

Pros: I really can not say that much
Cons: Lack of banks and atms

NFCU has changed over the last few years and not for the better. I have gotten loans there before in the past, I even have a auto loan through them. Now I know my credit is not the worlds greatest. But I have gotten $500 loans from them before and lately they will not even look at me.
The customer service (CS) had gotten worse over the years. I think that they forgot that they are to be there for the service member. I remember you had to be on a ship to join NFCU. Now days they will let anyone join NFCU, so you do not get the same service like you use too.

I have tried to get a home morgage from NFCU but was told that I could not have one due to my monthly payments would be about 900 dollars, hello my BAH is almost twice that much. I think that its who you know there.

There is also a lack of banks, and ATM's. I have noticed that NFCU's are not bases anymore..

Pros: Great Rates, Full range of services - insurance, stock, savings, credit cards etc.
Cons: You have to do a little work to achieve great savings

I am one who 'collects' credit unions, joining and maintains accounts where ever I can qualify. I had my sights on Navy for years because of their great mortgage rates (I work in real estate and notice these things). I rejoiced the day I became qualified to join Navy fcu! Like any discount operation, there are trade-offs - service is among them, their ATM cut-off times can be confusing and the number of branches is not huge but all this keeps overhead and rates down. The web site can be a bit cryptic, but easily mastered. If one can 'go with the flow' you can't beat this one! I recently bought an auto financed by them at the lowest rate the dealer had seen! The process after approval was straight forward - they send a voucher and you purchase the car of choice. Other credit unions require purchase orders prior to approval etc, not here.

Pros: Offer membership to anyone in a member's household regardless of relationship!
Cons: Yeah, they are conservative on mortgage loans.

Wow --- Navy Federal provided low interest Emergency Relief Loans to their members in affected counties of Florida this past year. Also, they offered ZERO interest Emergency Relief Loans to their employees in affected counties. They care about their members and their employees equally.