Navy Fed -- Unorganized And Clueless EACH And Every Time (Though They Try, They Always, Always Mess Up)

I have a couple accounts with Navy Fed, and WITHOUT FAIL, every single time I have had to do something major (ie, open an account, close an account, change my personal information, etc) they have made major mistakes. Not even once did it happen without a major incident. It's a running joke now in our family. 6 times out of 6 -- with more than one person in our family -- they've messed up, made mistakes, and didn't have a clue. That said, things eventually (read: EVENTUALLY) get corrected, and they try. It's not like they're mean or nasty. It's just that, well, under "incompetent" or "danger-prone" in the dictionary, it says "See Navy Federal FCU." We keep an account there because there's a branch close by, though because they can never seem to get things right, all my everyday banking is done at another close-by credit union instead. Those of us in my family simply have only CDs and/or IRAs there (certificates that don't require much once they're opened), but every time we've even tried to do something as simple as just opening a CD, there's been major gaffes and mistakes. Again, you don't get the feeling like they're trying to fleece you (the way we do with the major banks) but as much as I hate to say it, to anyone looking at their operation, they just seem totally halpless. Especially when compared to the two other credit unions I deal with (one large, one small) that never have any of the constant problems NavyFed seems to have each time.

That said, if you qualify to have an account at NavyFed, it's probably a good idea to open an account and at least get your foot in the door with just a simple share savings account ($5) because occasionally they have decent rates on CDs and IRAs. But just know going in that there will most likely be problems and mistakes made with simple banking transactions (everything from filling out an application form -- which mysteriously gets lost when it's sent inter-office to the main branch -- to opening the wrong account types). Part of the problem is that EVERYTHING has to go through the main office on the east coast -- and whenever problems happen, nothing can be solved until it goes into a long queue at the main office and someone there manually looks at it and after a while, responds. It's old-fashioned in that even a branch manager is helpless to do anything except send a message to headquarters and await a reply which may come in a few days or a few weeks.

Again though, if you qualify, it's good to at least open an account and watch out for occasional specials. We have some CDs and IRAs there because of the rates -- but not one account has been opened trouble-free, so just keep that in mind. The CSRs in the branch and on the phone are quite nice and mean well, but to be honest, the best way to put it, is that it's a lot like banking with the Keystone Cops. Still, I'd still rather have that than bank with a megabank like BofA, Wells, Chase, that treat their customers like dirt. But it's amazing how unorganized and trouble-prone NavyFed is, when no other credit union I've ever dealt with has had the kind of problems they have. They really need to to fix the entire structure of their organization.