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World’s Largest Credit Union Is Getting Bigger

Tuesday, May 20, 2014 - 8:22 AMNavy Federal Credit Union - Details
Navy Federal Credit Union is the largest credit union in the world, reports The Washington Post, with just under 250 branches and 5 million members as of last month. Navy Federal announced that it will be getting even bigger, building 60 new branches by 2016. The new branches will help the credit union keep up with its expanding membership, which has seen a 25 percent growth since 2012, according to The Washington Post.

http://www.washingtonpost.com/bus...g-bigger..
8
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,527
1. Tuesday, May 20, 2014 - 9:54 AM
They may be growing but it sure isn't helping their low interest rates.  They can move across the street from me but that's not going to help unless they kick up their CD rates a notch.
2
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
2. Tuesday, May 20, 2014 - 10:12 AM
Re: paoli2 @ 1. Tuesday, May 20, 2014 - 9:54 AM:

Navy Federal Credit Union yields on their 5,6 and 7-year maturity Certificates are very competitive given today's low yield environment. See if you can beat that at your Chase Bank.
4
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,527
3. Tuesday, May 20, 2014 - 10:55 AM
Like I would buy a CD at Chase??  Navy's rates are much higher but I can still hope they would kick them up even a notch more.  Chase's rates are a joke!  I have been clearing all my CDs out of there soon as they mature.  The ones I had were left overs from before we moved to our new city and much higher rates.  The Chase here is pathetic ratewise and I can't imagine "who" would buy their CDs.  However, the city we live in now has nothing but pathetic rates in ALL their banks.  No place to run or hide in this place.  That is why we joined Navy FCU and other credit unions. 
1
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
4. Tuesday, May 20, 2014 - 9:29 PM
Navy has had a very nice perk for the last few years. For a certain period of time the first of the year they allow you to transfer, rollover or add IRA money into existing IRA CD that you have with them. So if you are fortunate enough to have an older CD earning higher interest with Navy you can or could, when allowed, add to it during this time period. It works out even better if the lower paying institution allows you to do this with no penalty. Remember the new rulings that start with rollovers in 2015. One rollover every 12 months period. Not once in a calendar year, nor one for every IRA. 
3
Ally6770Ally6770932 posts since
Jan 16, 2010
Rep Points: 2,712
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