Walking into the building all the employee's are friendly. Going to the teller line each one is knowledgeable and they have all the technology to make each type of transaction fast and easy. The process for application is also relatively simple as all you need is a relative that has been in the armed services. The overdraft protection is pretty flexible. The amount of tools they have seems to be limited in comparison to some of the other large banks I have been with, however today i have few needs and navy federal seems to be able to provide for me well enough.
In general, NFCU is an excellent credit union. If you call them, their staff is extremely helpful. Their Certificate of Deposit are competitive. They reward long time members and their website is clean and easy to use. The do have issues. It's not easy to buy a CD. They don't list the rates when you are making a purchase therefore making it uncertain what you are buying. They also don't have an easy way to cash out a CD prematurely without calling customer service. If getting a mortgage through them, they are slow, their tools are difficult to use but they are very competitive in terms of interest rates and closing costs. If getting auto financing, they are competitive but will sell you a loan you can't pre-pay. Meaning, you cannot pay direct into the principal on a car loan.
It's a great place to bank but it's not perfect.
Navy Federal has a wide array of products to offer. I have checking and savings accounts with them, and I'm quite satisfied with both. The rate on the savings is decent, and is comparable to other banks and/or credit unions in our area. There is a branch that is close to us, so if we need to go in or use the drive-up window, it is quite convenient. The downside here would be that the lines at the drive-up can be quite long, so don't expect to breeze through, it's not going to happen. You can still get paper statements from them, or opt to suppress the statements and look at them online. Ordering new checks is an easy process. Logging into your accounts is simple, but be assured their online security is good, with an excellent system of "checks" before you can see your information. Anytime I've had a question regarding either my checking or savings, I've found the tellers to be knowledgeable and courteous. Overall, their rates are competitive and the "face to face" customer service good. I do prefer accessing my accounts online, and, again, the process is a secure but easy one. Anytime I've had to call customer service, they've been able to answer my questions quickly and professionally.
In 2002, while I was in the United States Marine Corps, I joined Navy Federal Credit Union. I was with this Credit Union from 2002-2007. I was issued an ATM card and later a ShareCheck card. Navy Federal was able to effortlessly establish a link with my command to set up a direct deposit system that never failed. Not even once. My ShareCheck card caused me no issues and allowed me to make purchases with no issues. All of my experiences with representatives were positive, though few, given the fact I had very few issues with them and little or no reason to deal with them. Additionally, when I took a loan from NFCU, I was able to set up a system where the 1000 dollar loan was paid off via an automatic deduction of 50 dollars per paycheck for 10 months.
The only minor negative problem I had with NFCU was I had to periodically update my address and my ShareCheck card was placed on hold when I forgot to do so. Though the representatives were quite pleasant and easy to deal with, having my card not work when I went to make a purchase was a minor inconvenience. This happened twice.
I have been with Navy Federal since 2009. They have been one of the best credit unions I have ever been with. They have very minimal fees and most ATM's do not charge a significant amount when I used my card there. The representatives are very nice, they always have a smile on my face when I come in and always make great eye contact. They are also very prompt in regards to handling fraudulent charges and ensuring you get you money back in a timely manner. The only problem I have with them is that they will not cash any check on my account, even payroll ones. This is due to the fact that I have an outstanding balance I owe from a checking account I had back in 2009. I only have a savings now but I still do all my deposits and banking there.
My experiences with this bank have been exceptional. As long as I maintain a certain amount in my checking each month or use my debit card often enough, I am not charged any fees. I am even reimbursed for using other ATM's other than my banks. The refunds go directly back into my checking account within a few days. I also have a savings account at no extra charge. Even if I don't have a balance in it, I am not charged fees. I have access via my phone and online. The app is very user friendly and convenient and I really don't even have to go online. From the app I can transfer money to other members in my bank's system immediately and transfer between my own accounts with ease as well. I can freeze my debit card or unfreeze it at any time and I have complete control at all times with the ability to view my statements and transactions. If I want to deposit a check I can do so via the mobile app and it'll be processed within a day usually. It is an exceptional bank and very friendly to their customers.
WARNING: DO NOT BELIEVE *ANY* PROMOTIONAL MAILERS, OFFERS, OR PROMISES YOU RECEIVE FROM NAVYFED! THEY ARE LIES, and WILL NOT BE HONORED.
Half a year ago, I receied a mailer in the US Mail from NavyFed promising a big upcoming promotion: "NEW! UP TO $30 CASH BACK BONUS MONTH!" The mailer promised that for each day in September I used my NavyFed MasterCard, I would earn $1 Cash Back "On any purchase, Big or Small", up to $30 (for the 30 days in September). Naturally there were some rules in the fine print (such as you won't get it for cash advances, balanace transfers, etc) but it would be good for normal purchases in a store using my MasterCard. To be clear, the mailer was mailed to ME (to my correct name and address) -- and even says right on the mailer, "For Your Card Ending in XXXX" -- which is MY CARD.
So, I trusted what NavyFed promised me in writing, and used my MasterCard each of the 30 days in September to make purchases from local stores, instead of another card that I normally use.
However I also know from experience that NOTHING with NavyFed is straightforward. So instead of tossing the mailer, I DECIDED TO KEEP IT in my drawer.
After making sure all the rules were followed, and using the card properly each of the 30 days of Sept., the mailer promised I would see the promotional credit within 90 days.
After 92 days I called NavyFed, and was told over the phone by both a rep and a supervisor that they DO NOT show that promotion on my account, and my card is not part of that promotion. Even though on the mailer sent to me says SPECIFICALLY on it "For Your Card Ending in XXXX". Most people wouldn't keep a mailer, they would trust their financial institution to honor their word. I knew BETTER with Navy so I KEPT the original mailer stating that the promotion was for MY ACCOUNT.
Saying this to the NavyFed supervisor, she suggested I scan it in and send a message via the website to NavyFed's back office, as she couldn't do any more for me.
I did so. I kept ALL 30 RECEIPTS and the ORIGINAL FLYER they sent me. I scanned it in, and waited for a reply. With the PROOF of them offering me this promotion now, they had no choice but to reply and say that I should indeed be eligible for the account -- but since my statement cycles towards the end of the month, to wait unitl it cycles again after the promised "90 days" -- and THEN I would see the credit.
Well, it cycled again. It's now been 90 days + 28 MORE days. STILL NO PROMISED $30 CREDIT.
I have since written them AGAIN, stating that I have copies of EVERYTHING, and if they DO NOT HONOR their own (PRINTED!) word to me I will start a case with the NCUA over this. I haven't yet heard back from them (it says to give them 48 hours, I will give them a week), and at that point, if I still don't have the promised credit, I will start a case with the NCUA. I had to start a case with the NCUA a few years back over another credit union (they got the credit union to finally honor what their printed terms in that case) and have no problems doing so again.
But this is a WARNING to everyone. NavyFed DOES NOT HONOR its promised promotions.
Even if Navy finally gives me the promosied credit,
it will ONLY be because I KEPT THE FLYER AS PROOF. Otherwise, they were perfectly happy to LIE and later tell me they never made such an offer, and that my account isn't eligible for it.
NO ONE should have to go through what I am now. I should NEVER have to keep a FLYER ADVERTISEMENT as PROOF in order to get a financial institution to honor its own word -- then have to fight for it. Over and Over.
I'm still waiting for the promised credit to be applied.
You've been warned. DON'T BELIEVE NAVY'S PROMOTIONAL PROMISES. And if you want it, KEEP EVERYTHING and be prepared to FIGHT them to honor their promises to you -- because Navy WILL NOT KEEP THEIR WORD TO YOU OTHERWISE.
We love being a member of Navy Federal. We have been with them for over 20 years, and continue to receive fantastic service (in the local branch, with their online chat specialists, as well as over the phone). We have had multiple checking and savings accounts at their institution, and never had a problem with any of them. We love to use their mobile app--it makes paying bills and depositing checks super easy. We greatly appreciate that they are located in many of the places my husband has had to travel for work--making it easy for us to take care of our banking from just about anywhere. We will continue to bank with Navy Federal for the rest of our lives. We also have accounts set up for our children and NFCU, so they can bank with them for the rest of their lives also. It's a fantastic institution all the way around.
I have rarely had a bad experience with my credit union, and I've been a member for over 10 years. The rates for money market accounts are competitive (0.5%-0.65%), the customer service has always been reliable (even if the waits on the phone can take 10-15 minutes), and the website is more than functional and has been updated in response to customer feedback. Additionally, the security regarding potential fraud issues has always been top-notch; I've had several instances where an attempt to compromise my account has occurred, and the credit union has always been right on top of it, locking my account and guiding me through the necessary steps to secure my accounts. I cannot recall an inherently bad experience regarding checking and savings accounts, customer service, or security issues, and I'm happy to call myself a member.
I've been a member of NFCU for a little over 3 years, and I'm really happy I was able to join! Their checking accounts really aren't anything special, but they're very generous on their credit cards, and actually offer some decent rewards ones. The "Special" share certificate @ 3% APY is very competitive, and the 100% mortgage can't be beat. I wouldn't hesitate to recommend membership to anyone that's eligible.
The only things I wish they offered that are missing:
1) Better rewards checking (higher interest)
2) Ability to ACH to/from outside FIs
Navy Federal has hands down the best customer service experience of any bank I've ever had the pleasure of interfacing with. I once had my account stolen and they fixed it with all of my money back in less than 2 hours flat. I once lost my debit card and they cancel it and had mailed me a new one in less than 24 hours flat. They are truly the best. Sometimes I call them just to ask questions and they are always helpful, never annoyed by my mere existence, and always willing to go above and beyond to make sure I'm satisfied, which spoiler alert, I always am. If you are looking for a reliable, fair, and generally well run bank, Navy Federal is the bank for you. It is nice to be treated like a person for once in the service industry.
Working with Navy Federal can be an extremely enjoyable experience. Their online banking has a very user friendly set up and has very few issues or bugs. When a bug is discovered they are quick to eliminate the issue and continually update the user. I have never had an issue making a deposit. It is easy and fast. They offer the ability to take a picture of your check and the funds are immediately available. The trust is there and it shows through with their customer service. When checking balances the summaries are extremely easy to find and read. Lastly when drawing money from an ATM they pay back the fees allowing customers to not worry about which ATM to stop for cash. This is such an amazing feature, especially when traveling.
I have been with NFCU for 10+ years recently I recieved multiple emails asking me to change my password with no explanantion on why. Everytime I would check on my app to make sure they weren't sending by mistake, it would then prompt me to call to change my pw?! So the next day I had to call again to change my pw having recieved another email the night before and they basically told me that there were two fraud checks deposited and that I had lost electronic access to ALL MY ACCOUNTS?! They then asked me if I had given away my info and of course I haven't and if I did I didn't mena to. I went all the way to the branch to have them do an investigation to see where it had come from and they even printed off the fake check for me. When I saw it I almost wanted to laugh because it wasn't fluent with any of the checks and signatures I had given them when I was employed so they had to know it was compromised and I am just confused. They also said after the investigation which took only about three days that they couldn't prove I didn't do it?! Like don't you have my address and cell number to track who and where this deposit was made? I know about the government satellites all over so I am sure they could research and see I had no dealing in this bs. I haven't deposited a check in a long time before that because I am now self-employed in design and don't even accept checks, but my old mentor gave me a check days before this to catch up on my bills and that was the only one. After that, I had planned on keeping my accounts since they had said I had access so long as I go to a branch. Now just a few days ago they tell me all my accounts are closed except with my loan and cc and I will never be able to get another account with NFCU. I am apalled and disgusted because I have banked with them for several years and can only imagine how they saw it suitable to do this knowing my history and never having committed fraud ever. Now I will have to race to get another bank because all banks go through check systems and it will be 7 years before I am able to open another account. I really can't believe this because they are my only bank and they treat their long time customers like this.
I've been a member of Navy Federal for over 5 years. My mother opened an account with them and asked me and my brother to also open accounts. She was able to receive a referral bonus for us signing up. I mostly use it as another savings account to throw some extra money in there when I can. All my families accounts are connected so a few times I sent my mother money straight to her navy federal account from my account! It did not cost anything extra and she received the money INSTANTLY! This was a great help as my mother lives over 600 miles away from me. Recently I began using the navy federal debit card more. I decided to use my Navy federal checking account for my "spending" money between paychecks. It helps keep me accountable for my bills and ensure I do not overspend.
Navy Federal Credit Union has been my go to bank for years and I have never had any huge issues that couldn't be dealt with. I have had a free everyday checking and savings account with them for over 15 years. Navy Federal is always one step ahead of their customers in protecting their assets. Not too long ago, Navy Federal saw a suspicious activity on my checking account and they contacted me right away. Since I was traveling to Las Vegas, I was worried about not having access to my account. Within minutes, Navy Federal had turn off my debit card and I was able to go pick up a new debit card at a local branch the following day. Another nice part is that I can access my account online or on the mobile phone app within minutes. As stated before, I do travel for work and Navy Federal ATMs are not always available. Each month, I get a rebate for ATMs fees for when I withdraw cash from my checking account.
I have been with Navy Federal for about five years. Simply put, I wouldn't go anywhere else. The customer service that NFCU provides is second to none and I've dealt with all the big banks in my years on earth. When you have a problem, they fix it. If you have a question, they answer it, or get the answer back to you right away. I don't think I'll ever go anywhere else, even when I live in a place that doesn't have an actual physical branch within driving distance.
I have banked with Navy Federal for about six years. In the past I have banked with many other large "banks", as opposed to credit unions, and my experience with NFCU as compared to those "big banks" is the difference between night and day. I cannot stress more strongly the superb level of customer service and personalized banking I get with my credit union. For example, even when my credit wasn't all that great, I could, with one phone call, get a bank line of credit to purchase a car. Amazing. They are very good to me and I will never stop banking with NFCU.
Navy Federal has been a great experience for us. They have served my parents and my family for several years. The have a good variety of products. My parents have a couple of IRA CDs through them. After meeting with one of their managers, I decided to start a money market and get a better interest rate. Their online banking is okay. Nothing special, but it's nice to have access to my accounts any time I want. With my work schedule, I can't make it to the branch so I use online banking more.
If i could give Zero Stars i gladly would. I was told Navy Federal is a good banking institution, i need to find that person that told me that, and give them piece of my mind. I had this disgusting banking institution for about 8 to 10 months. Paryt of my direct deposit goes there, and i was thinking of opening a Certificate of Deposit and getting a credit card to rebuild my credit. My mother, wrote me a check for $5000. I figured, I'll deposit it into Navy Federal. I called them up, they said, i can take a photo of my check and deposit it. I put my account number on it, took a photo of it through THEIR APP, and deposited it. I received an email stating it was declined, i called, and they said it must have for deposit only. So, i did that, and it was declined. I called them, they said for eDeposit Only at NFCU must be at the back of it, i did that, they declined it. I got another email from the fraud department, they said the check looks fraudulent. I stated, "that check is from my mom, she's not a crook". They proceeded to tell me that my account is now suspended. I NEVER TOLD THEM TO FREEZE MY ACCOUNT. My direct deposit is about to go in there and they froze it. They're saying that the signature on the front of the check doesn't look real, so they're freezing my account, until i can prove it's real. I have to go to their branch, 118 miles away in 1 direction. The reps were rude and disgusting. They were insulting to me and my mother. They were very disrespectful towards my mom. I 100% hate this bank and i wish nothing but bad on them. The rep in the fraud dept was an absolute nightmare. I need to close my account and transfer my money to another bank. Navy Federal are Rude, Insulting, Condescending, Sarcastic... and they say they care about MILITARY? I bust my butt for this country and you insult my mother? MY MOTHER ISN'T A CROOK. How do you get away with insinuating that someone's mom is a crook?! Then their mannerisms were pathetic. So rude. So because you're a bank, it's ok to insult someone's mother, be a bully, be rude to that consumer? They need zero stars, but this site won't let me give Zero stars.
I have been a member at Navy Federal Credit Union all my life. I have used several of their products throughout my childhood and into adulthood and have always been completely satisfied. My needs have been met continuously as I've gotten older and more mature. I have never paid a fee for my checking account and they have a feature that keeps me from overdrafting my account by pulling money from my savings to avoid their overdraft fee. Their line of credit option is also really great because it prevents me from having to worry about overdrafting or bounced checks. I have opened several CDs at Navy Federal that each earn 3% interest which is great. When I married my husband, I made sure that he opened an account as well as one for our daughter. I will always be a member of Navy Federal Credit Union.
Easily the best bank account my husband and I have had. My husband has been in the service for 8 years now and he was the first to have this account. They allowed him to have his money deposited while he was in boot camp, making his money safe while he was away. Over the years we have pulled out loans for cars & personal loans. They offer the lowest rates our family needed at the time. Once i became a member Navy Federal helped me improve my credit score with a secured credit card. They make it easy to access the app online, or visiting a local bank. Being in the military we travel alot so having access to a nation wide bank helps us alot. This exact bank helped me gain my freedom back from crazy debt and school loans. To this day we continue to recommend this bank over others. We are also working on getting our family members to join the security as well.
I have been a Navy Federal customer for 11+ years now. I love their online interface. They changed it about 2 years ago to update with the modern age. There is a contact us feature which is undeniably good. If you forgot your password navy federal provides specific support for that. Very quick and easy to use. Navy Federal has done all they can to make your banking experience as good and even better than anywhere else out there. They also give great rates and benefits to every member no matter how long you are a member.
I started banking with Navy Federal credit union shortly after I joined the military in 2001. At boot camp we have to sign up for direct deposit but there was another bank (whose name I don't remember) that recruited us heavily. After talking with some people I decided to switch my direct deposit to Navy Federal. In almost sixteen years, I have never had a problem with them. I have been in branches in many states and several countries (Japan, United States). The staff is always polite in person, the website is easy to understand, and when my checking account was compromised I contacted customer service and they were excellent. I am not a financially savvy person, so I don't know how well my savings interest compares to other places, but I feel comfortable with the culture of Navy Federal because they understand veterans and the unique things that we have to go through. Once I had to withdraw a large sum of money (for me) maybe around a thousand dollars, and I asked the clerk if handling money ever got old. She smiled and told me that you get used to it after a while. I cannot recommend Navy Federal credit union enough.
I've had an account with Navy Federal for ten years. I still remember the time when my card details had been compromised. I found out not by seeing unusual charges or having my card declined, but with a personal phone call where the agent walked me through my recent transactions. They take my concerns seriously, and I'm very happy to be a member.
I loved using Navy Federal Credit Union while I was in the Navy. It was a close bank located on base and within walking distance to my living quarters. They were open for a decent set of hours and the customer service was nice, because they remembered who I was and things I would tell them about. They really cared about the military members. If anything the fact that they remembered what my life was like and my name means a lot. The access to my account was great and I could call them and get through to a person.
I've banked with Navy Federal for about 11 years and have always had a pleasurable experience. There are many things that I enjoy about banking with them. For example, there is no minimum balance or fee associated with their checking accounts. Additionally, their savings account accrues reasonable interest, although you have to keep a $5.00 minimum for their basic savings account. One drawback is that branches are mainly only close to military bases. However, Navy Fed offers pretty easy mobile banking, i.e. depositing checks from your phone and a partnership with atms in 7-eleven that doesn't charge a fee to withdraw money. Finally, what is most appreciated about banking with Navy Fed is their great fraud protection. Whenever there has been a fraudulent charge, I immediately receive a text message from Navy Fed questioning the purchase, often before I even noticed anything was happening. There is always a quick resolution of this problem as well, i.e. new card quickly and money returned to my account. Overall, a pleasurable experience.
I love this credit union. Although I have never been into a brick and mortar credit union, I have an active on-line account. I am not in the service but my son is. When I had to transfer him money ASAP because he needed to pay for his hotel in a foreign country and the money was sent to him immediately. They also actively monitor your debit card for an fraudulent charges and will call you on suspicious activity. I love these guys.
I love this Great Credit Union. I was with USA Federal Credit then Navy Federal bought them out. I have all the same and more benefits. I have move across to AR now and still working on Mobile I am still with them. They have been so great for many years. I will be with them for many years to come. Thank you Navy Federal Credit Union.
Bryan for AR
I opened a Navy Federal checking and savings account about 6 months ago. I used to bank with USAA. I have been in the Military for a little over 7 years and I travel a lot due to deployments, trainings, and changing duty stations. I decided to switch from USAA to Navy Federal because I hated not being able to walk into an actual bank and having to call all the time. About 6 months ago, I decided to give Navy Federal a try since I had a lot of co-workers tell me that they provide excellent service. I went in and opened a checking and savings account in about 5 minutes. Since then, I have not had any issues with Navy Federal. They have 24 hour support service through the telephone. Their online banking is superb, also. Overall, I haven't had an issue with traveling yet. I had to go to a military school for 2 months in a different state and Navy Federal didn't give me any issues as far as stopping my account when I was traveling. They make it really easy to transfer funds via the mobile app and anyone that has a Navy Federal app can receive transfers from me and they can transfer funds to me in a flash. Best bank in my 16 years that I have tried!
I have used Navy Federal Credit Union for several years now. When I was deployed they were awesome. Out of several banks that I use, they were the only ones that didn't charge me any finance charges and then reimbursed my fees from a foreign ATM. I thought that this was awesome because I had much more important things to do than worry about being nickel and dimed on the occasions that I needed cash. The other thing I have loved about them is the transfer and handling of my car loan. I transfered my loan to them from BB&T and never looked back. Granted this was in 2012, but did I get a much better rate than at BB&T. My rate at BB&T, though the dealer, was 4%, when I transfered to NFCU it went down to .50%. They also gave me a months paymentjust for switching my ccar loanto them. Overall, they are an aamazing bank and I am now a member for life!
This bank has been nothing but a disappointment. Their fees are exorbitant, they make it impossible to get access to your money... they're ripping off service personnel, who probably don't realize there are better options in the non credit union sector. Really very disappointed in NFCU- moving my accounts elsewhere (already refinanced my mortgage just to get away from this credit union).
I have been a customer of Navy Federal Credit Union for over three years now and I have had nothing but good experiences with them. The few problems I've had, the customer services department worked to fix them quickly. I love their "refer a friend" program that gives me a bonus for referring customers. It is easy to do and doesn't take long at all. My checking account currently has no fees despite no balance requirements. This is great when I may have a zero balance from time to time. My favorite offering from Navy Federal is their Certificates of Deposit. They have competitive rates that you can't get anywhere else. For example, I currently have a CD with them. That is practically unheard of in today's ultra low interest rate environment. Overall I am very pleased with my experience at Navy Federal and would recommend them to anyone.
My biggest peeve is that a charge, no matter how small, will be "pending" on our NF Visa Reward's card almost immediately, but a payment takes up to two, sometimes three, full days to show up.
Another problem we had with them concerned looking into getting a home equity line of credit. We have been members since 1982 as a married couple, and my husband was already a member for a few years before that. We've had car loans and mortgages with them, and an equity line of credit with them in the past.
When we applied for a new equity line of credit last year, it was TERRIBLE! The amount of hassle we went through made us give up and drop it. Our credit score was over 800. We were not a risk to them, yet we felt as though they considered us one. We regularly charged and paid off enough on our reward's card to get two $500 Visa reward's cards every year. Those cards were our "Christmas Account."
Not anymore. We have started using our USAA Visa Reward's card for all of our purchases except for the automatic bill payments we had set up with Navy Federal already.
They are just not the bank/credit union that they used to be, and that's too bad. We won't get another car loan, or camper loan, or mortgage, or anything from them except to use them as a temporary stopping point for our paychecks before the money goes out to other places.
We just opened additional accounts for family members, very satisfied with the service, they answered some very specific questions and verified the accuracy of online information about CD rates and conditions. We are transfering the bulk of our family savings to NavyFCU.
ALWAYS want to put holds on official checks make no sense had the same account over ten years i had to ppen another account with another bank to be able to cash checks timely ridiculous and dumb. I really HATE NFCU and do,not RECOMMEND THEM 2 ANY 1
We have been with the Navy Federal Credit Union since the early 80's. My husband has been retired from the Navy in 1998 and we still use the Credit Union for our checking and savings account. Even though we don't have a physical location near us, we are able to do anything we need to either by internet or over the phone. They are always so helpful and accommodating! We especially love that we can take a picture of a check and send it to them and it's deposited in our account by the next morning! It's flawless! We highly recommend the Navy Federal Credit Union!
I have used Navy Federal Credit Union since I joined the Navy back in 2008. They have provided me with wonderful services and have locations nearby that are very convenient to me and my family. I currently have a checking account, a savings account and an IRA open with them and I have no complaints. Every time I call in to their customer service department, the representative is very knowledgeable, helpful and quick and I always hang up feeling at ease about where my money is kept. They take their time when answering questions and don't hesitate to get a supervisor on the line if needed. They have even helped me out in the case of fraud a few years back by catching the person before I had even realized my money was gone. I woke up to a voicemail saying I need to call them back ASAP because we needed to secure my accounts and get new cards sent out right away. They're amazing! I highly, highly recommend Navy Federal Credit Union.
I have been banking with them for years, as a personal bank and have always had great customer service with them. They offer bill pay through their app, to make it easier when getting the money from your account to your bills. Also, transferring money to the account and outbound is very easy. They have 24 hour customer service, which is extremely helpful for military families. I had a checking and savings with them, the savings basically just took a small amount from my checking each month, but my checking was very easily accessible.
I have been a member of NFCU for over 10 years and I am glad to be a member! They offer great products, such as the EasyStart certificate. I am not the most savvy person when it comes to investing, so I like things that are easy to do online but also have an excellent customer service rep to back me up when I have questions. Navy Federal has both. The hold times are generally very short and I can always get a real person. I plan to roll some old 401Ks over into an IRA soon and they have a financial adviser that will walk me through everything, but if you know what you are doing, their website is very user-friendly.
My experience with Navy Federal Credit Union has been the best of all my experiences with any banking institution. Since I am 74 years old, I have had experience with many institutions. All of my experiences with Navy Federal have been wonderful but one in particular stands out. On a Sunday afternoon, I went through the ATM and left my card in the slot and drove off. Down the street, I realized what I had done and went back. During that time, the man behind me took the card to the front door and since they were closed, he slipped it under the door. On Monday morning, I went to retrieve it but the clerk said their policy with found cards is to shred them. She helped me get a new card but I had several auto payments for monthly bills set up on my old card. The clerk took the time to go through my statements to see what payments were made by auto pay on my card and which ones were by checking account number. Then she helped me to notify them of my new card number. This clerk was so patient and friendly and really made me feel welcomed. All of my experiences with Navy Federal have been very positive and I often tell others about it.
Navy Federal Credit Union makes it real easy to do eDeposits. Just scan the check and sign the back. It usually takes within the hour for the first $100 to show in your account. This is great for paychecks or checks written to you. No longer are trips to the bank necessary. I have used this feature online as well on the NFCU app. Great, easy, and fast.
I am very satisfied with my Navy Federal Credit Union. I was able to get an account via referral from a family member. This credit union has significantly less fees than banks. They also offer better interest rates on savings and checking. What I like most about them is how they extend credit and loans to customers much easier than banks. Within 6 months of becoming a member I was able to get my auto loan refinanced through them at a much better interest rate and terms than I was getting from the previous lender.
NFCU is a good credit union. But beware that their savings accounts allow, via ACH, only deposits!
That's right. You cannot withdraw funds from your NFCU savings account using ACH. Period. ACH deposits into NFCU savings accounts are just fine and work as you would anticipate. But ACH withdrawals are declined because they are disallowed under NFCU account rules.
Want to do an ACH withdrawal of funds you have on deposit at NFCU? Do it from your checking account . . if you have a checking account. Otherwise, if your money is in your savings account, request a check be snail mailed to you or ask them to wire the funds out. But do not try to use ACH.
I've been a member with Navy Federal since birth. Throughout my banking experience, they've always been willing to help me with questions I've had regarding how I can improve my financial status through their services. Most recently, an associate convinced me to transfer a good chunk of my savings into a Money Market Savings Account, and so far, I've been extremely pleased with the results. NFCU's savings rates beat pretty much all of the competition. They even offer checking accounts with great interest rates! Plus, I can tell that NFCU operates with my best interest in mind, because they offer zero maintenance fees on all of my current accounts. I plan to stick with NFCU for the rest of my life, because I'm convinced that they will continue to provide the best service to me and my family.
Navy Fed is a mixed bag. Their normal banking is pretty poor (bad policies, mishaps, mistakes, corrections take weeks to get corrected) and while I personally would never recommend anyone get a checking account or loan there, (you're just asking for trouble), they DO offer three things worth looking into if you qualify for membership:
(1) Occasional CD specials (if it's not a special, their rates are only so-so, but a few times a year they come out with pretty good specials. You just have to catch them, they don't seem to let members know.
(2) If you have an IRA CD with them (IRA CDs only), they're one of the few institutions that lets you add funds to it during the term (usually for a few months out of the year). For instance, if you want to make your allowed contribution every year and you have a 5-year CD, you can still do so by adding to it during the allowed months they let you do so (most other places won't let you add to a CD, even if it's an IRA CD).
(3) Credit Cards: one of the few good things about NavyFed. Their cards are all chip enabled, have NO foreign transaction fee, and for rewards cards, you can choose from a rewards card that gives you points (travel/restaurants, etc), or a cash-back VISA card, that gives you 1.5% back on everything across the board (no different amounts for different catagories). The rewards show up within days, and you can immediately put it into your savings account. Not quite totally fee-free as PenFed's Promise VISA card is... and I'm one of those people who pay their card off every month, (so I haven't really noticed how good/bad their policies are for those who don't pay them off every month), but they certainly do have some credit cards worth looking at. (If you want a lower APY, like any institution, don't get a rewards card, get the basic card). I recently changed my main credit card usage from another credit union's VISA to NavyFed's cashback VISA, and have been happy with it, and will keep it as my main card (using it all the time -- a lot) as long as NavyFed keeps the features as they are.
So that's it. A mixed bag. Remember, you don't have to have everything under one roof. Find someplace else for your savings/checking/loan business, but if you want good credit card and CD offerings, NavyFed can be a good place to look.
NAVY FEDERAL HIRES UNPROFESSIONAL EMPLOYEES THAT ILLEGALLY SHARE YOUR PERSONAL FINANCIAL INFORMATION. AFTER FILING A COMPLAINT THEY DO NOTHING AND THEY ALLOW HIM TO CONTINUE WORKING THERE. NO ONE SHOULD HAVE TO EXPERIENCE THIS INVASION OF PRIVACY. THIS IS A FEDERAL CRIME. SWITCH BANKS IMMEDIATELY BEFORE THIS HAPPENS TO YOU! ROCKVILLE, MARYLAND LOCATION.
Navy Federal Credit Union is one of the most amazing companies I have ever had the pleasure of working with. Not only is the online app intuitive and easy to navigate through and use, but the 24 hour customer service that they offer is one of my favorite things ever. The fact that I can call my bank a 3:00 in the morning and still speak to a real person pretty much had me sold from the get-go, but their local branch that offers a convenient check cashing feature, and allows me to deposit cash in to my checking account is what really solidified my love. The only complaint I have is that they don't have more branches near me. The closest branch is a 40 minute drive from my home. Despite this small downfall, I would absolutely recommend Navy Federal Credit Union to any of my friends to use - they even gave me a free $50.00 just for signing up!
My husband was in the Navy, so he was signed up for his bank account in boot camp. It's been great, though. The checking account set up while he was active duty has $500 of overdraft protection, and our secondary checking account has $100. It's nice not to be hit with any NSF fees, ever, or even have to worry about it. Branch location can be tricky, as most are in the DC area or on military bases. Fridays at any branch are a nightmare! Thankfully their phone-based check deposit system works well. We're a few hours from our closest branch now and it hasn't really affected us. If we need cash we can go to a no-surcharge ATM; I think they even have a ATM surcharge refund if you use a machine that does charge, but don't quote me on that. I really recommend Navy Federal if you're qualified for membership!
Navy Federal Credit Union is the choice of my entire family - three generations of family bank with them. I am always satisfied with the service I receive when I call for help. I bank primarily with their remote services. They are secure, easy to use, and many services are available 24 hours each day. I prefer not to go to my local branch because the service does not live up to the experience that I have when I log in or call; however, even the branch offers an irresistible service. I am able to go to the branch, enter my account number, and put coins in a sorter (and believe me, my kids save a lot of coins), and they are counted and credited to the account with no fee! We love NFCU and can't imagine banking anywhere else.
When I joined, I was sponsored in. At first, I thought oh this is going to be great. Boy was I wrong! So I had a joint checking account and an individual savings account. Well, the person on my joint account had a joint account with his ex wife. She defaulted on her loans, so they started pulling money from his account, when that caused his accounts to become delinquent they started pulling money from our joint account and when that caused my transactions to not go through, then they pulled money from my savings. It was a vicious cycle that took weeks to understand and just about landed me in bankruptcy. Essentially, I was paying her bills. The joint owner on my checking as well as myself had to move our deposits and bills to another financial institution and completely stop using NFCU. They would not remove the joint on my account or remove him from his ex's account because all of the accounts had to be cleared up first, when the only reason they were messed up in the first place was because of them. It is going to take years to review financially and repair what's it's done to our credit.
It is important to read between the lines with many of the negative comments on here. Most were delinquent on accounts. Some didn't understand deposit holds that apply to all banks. I know I have been extremely pleased with the service I've received at NFCU since 1962, and so have all my acquaintances. They do care for military personnel. They are one of the two premier financial institutions serving the military.
This credit union is the best! They recently bought a car and luckily was able to get pre-approved by the bank therefore giving me a bargaining chip. I know this bank is not available to everyone, it is for military service members and their families however this bank has always been helpful. I have a local branch that I go to often they are always friendly, very easy to work with, & truly care about their members. They are the only bank that allowed me to open a CD with little money for 5 years BUT allows me to add to the CD as many times as I want therefore allowing me to grow the CD even more over the 5 years.
Today I took advantage of NFCU 30 months 2.5% APR CD.
No hassle. Easy. Friendly and knowledgeable service. Wow! Very impressed.
Going back tomorrow to start another CD. They don't know when this special rate will be withdrawn.
I joined for the $5 member fee and only opened a CD. Will continue using my "forever" bank for checking, etc.
I have been with Navy Federal Credit Union since 2005. Every time I walk in to the branch there is someone to smile and greet you and waiting to help you. I am extremely amazed about their Special EasyStart Certificate rates. It is 3.0% APY. I also like the way the you need direct deposit for this CD. It helps the CD grow and not just stay at the current principle, as most CD's do. Navy Federal is wonderful and I would not give them up for anything. Ever time I deposit a check on mobile deposit, the funds are available within one hour. I recommend Navy Federal Credit Union to anyone.
Navy Federal Credit union is probably one of the best credit unions. The credit union is very helpful. They are great with timely deposits and they are great in processing checking and savings accounts. They provide awesome service and they do not have fees. Their rates are top notch and they are great for any military family or non. My parents, fiancee, daughter, and nephew all have accounts with this credit union.
As a recent member of the US Navy I have started banking with Navy Federal Credit Union here in Yokosuka Japan. I am extremely happy with how things are working out. The employees are so nice when I go to take money out of my account. I have even had the door held for me a few times by the security guard. I am a huge fan of the different Navy style checks I can choose from. It is so easy since their are ATM's all over the world so even if I am not in Yokosuka Japan I know that there will be a location at the nearest base. They over great savings plans as well. I am very happy that the Navy set me up with an account while in boot camp.
For those thinking of joining Navy, I suggest you read some of the many critical reviews here, not just the positive ones (which, with I'm sure the best of intentions, are probably from people who either don't actually do much banking, or have never experienced anything better.) Navy is one bad credit union. It's basically the credit union equivalent of Wells Fargo (I'm sure you can find people who just love Wells Fargo too) -- but I no longer use Navy because I became so disgusted with their service, fees, phone reps lying, and policies. They may be the largest credit union, but hey, Bank of America, Wells Fargo, and Chase are the largest banks, so are those the best places to bank too? (hint: no, they're not.) Neither is Navy -- and that's an understatement.
The tellers at Navy are morons, everytime I call customer service I'm given conflicting answers, it takes forever to get a reply from them (and then they screw up what they were supposed to do), their policies and fees are terrible and what really hits home is the difference you see when you join any other credit union. Disgusted with Navy, I joined another nearby credit union that was only about a mile from the Navy branch, and boy, what a difference.
For those thinking about joining Navy, take the time first to read the critical reviews here that give you an idea of just how bad Navy is. And for those who honestly think there's nothing wrong with Navy, all I can suggest is that you to join another credit union (ANY other one) and compare it to dealing with Navy. Or you can just join Wells Fargo to make your dismal banking experiences complete.
Thankfully for most people there are lots of other choices. I originally joined Navy through my family (military), left them, and now go to another credit union nearby. Just want to save people a lot of grief.
I have been banking with Navy Federal Credit Union for over 4 years and have been very satisfied. I have a Flagship checking account which pays me interest on my checking and savings account and also reimburses our ATM fees from foreign ATMs. I have called several times with various questions and they have always been able to give me answers or direct me to someone who can answer my questions. I used to go into the bank to deposit cash about once a week and always had a friendly cashier and felt like my confidential information was handled with care. I have never had a breech on my account in the 4+ years I have been banking at Navy Federal. Since starting our Navy Federal account we have moved to a state with no Navy Federal Credit Union. We love it so much that we chose to stay with Navy Federal anyways. We are able to do all of our transfers and check deposits electronically and since they cover foreign ATM feeds, withdrawing cash is not an issue either. We love Navy Federal and would recommend it to our friends and loved ones.
I have been a member of Navy Federal Credit Union for almost four years now, after I married my husband. Now that he is getting out of the military and we're moving to a place where there's no nearby branches, we have to leave the credit union and I'm so sad to go. I've had nothing but positive experiences with them from the beginning. Every worker who I've talked to, both in a branch and on the phone, have been pleasant and listened to everything I said. The one time I forgot to notify them that I was going on vacation, my account was frozen immediately I tried to use my debit card, but I was able to call and had it taken care of in less than 5 minutes. They also just this weekend updated their mobile app to make it so that you can add vacation notifications straight from the app instead of having to call. Also, I love their app - it has been a true lifesaver. Helps me to easily check balances while out shopping so I know my spending limits, and they offer the scan deposits so I no longer have to physically show up at the branch to deposit a check. I have deposited checks from $5-$1000+ without any issues, and clear instructions are offered on how to complete the process. The next bank or credit union we go to will have a big expectations to fill.
I joined this institution in 2011 and it was a welcome change, it was warm, friendly, inviting, after having so many issues w/the previous mom & pop FCU that i was a member of, i felt that i was finally at an institution that was in the big league of banking! I loved how i was able to get credit card, auto & line of credit loans at very good rates. Their service fees were reasonable. I primarily did mobile banking and scanned in checks instead of actually going into the institution (the lines were always long). But on instances where i had to go in, it wasn't so bad, and the lines did move at a decent pace. I think they are a wonderful institution, and although i'm not military (joined because a family member who works for under the Defense umbrella is a member), i was honored to be privy to the same rates and specials as our hard working service men/women were. Sadly i will be closing out my account, and i feel bad about it, but due to reasons that i can't say here, because they truly are a stellar establishment and deserve all the accolades that i can bestow upon them. I wish the institution the best of luck and who knows, i may be able to come back in time if they would take me back ;-)
I have been a member of Navy Federal Credit Union (NFCU) since 1978. I have checking, savings, CDs, and money market accounts with NFCU. NFCU is one of the largest credit unions in the United States. Since it is oriented toward those who serve in the Navy and Marine Corps, it has branches all over the world. I was serving in the Marines when I opened my first account with NFCU.
My experiences with NFCU have been great for the last 37 years. Before the advent of online banking, it was great to be able to see branch offices in the various places where I served. With the advent of internet banking, it is very simple to monitor my accounts via their easy to use website. Whenever I have had a problem or issue, or needed help concerning accounts, there has always been competent assistance to help me at a branch in person or over the phone. NFCU is a first-rate institution, and I will bank with them for the rest of my life.
I currently have multiple types of accounts with Navy Federal Credit Union. I utilize the Bellevue Offutt AFB branch and have always been greeted by great people willing to help. I currently have an investment plan of Certificates of Deposits, Checking accounts & savings accounts with them along with a few other types of accounts. The checking account fees are extremely reasonable and I receive an ATM rebate each month for using ATMs that are not theirs. This is a huge perk for me. I like that they have the mobile deposit feature for accounts on their App so I can automatically deposit a check when it is received instead of having to drive to the branch or mail the deposit. I have now referred a few others for accounts there as well and they have been extremely happy with the customer service and rates provided. There are multiple levels of checking accounts for individuals. I currently use 2 of them as I have one for everyday checking and another for more of an investment account with instant liquidation availability. I can always call and get the current rates or utilize the website or app and figure out if I want to transfer or open new accounts. It works great with my busy lifestyle and job so I do not have to hope that the bank is open when I get there. While the branch associates are more than helpful, the phone associates are wonderful as well and provide just as much detail should I need assistance after normal branch hours. I would highly recommend them to anyone I could..
I Have been a Navy FCU member for 20 years. I recently retired and struggled for a while finding a new job. Many of my other banks and credit cards were willing to help me out by moving due dates, closing accounts and lowering interest rates. Navy FCU refused to help in any way. I was declined for personal loans and they refused to lower interest rates or move payments. When I was one day late on a credit card payment they locked my account on the website and the telephone so I couldn't even look at any of my other accounts until the credit card payment was paid. I don't know of any other bank that does that. I have had my mortgage with Navy FCU for 11 years and never missed a payment. When I was just 25 days late on a payment I received a certified letter in the mail with a notice of pre-foreclosure options stating that if I did not respond in 30 days a notice of default may be issued and I may lose my home in foreclosure. I'm working now and paying my bills I will be closing my account at Navy FCU as soon as possible.
I am a thirty year member of Navy Federal Credit Union. They have been taking care of me since I was 18 years old. I have been so loyal to them because of their loyalty to me. They have financed all my cars I've ever owned with incredibly low interest rates. I plan to be with the for another 30 years at least.
I have been with Navy Federal Credit Union since I was a teenager. In fact, it was the first bank I ever dealt with. That being said, it is still one of my favorite credit unions to do business with. Although I know have other accounts else where I still make sure to keep this one open. The people there are always so pleasant. They make sure they do their job right and if they do not they are sure to quickly fix it. I also feel that they have competitive rates compared to others. Overall, I feel that they are really above the rest with the overall experience they provide to their clients.
Adding to the terrible reviews of Navy Fed here (both their incompetence as well as their terrible policies compared to other institutions), I have one myself that just happened. This is a warning, especially for those who do NOT live on the East Coast.
If you live on the west coast (or a time zone OTHER than EST), it seems the default for NavyFed's computers is to bank on east coast time. That's fine for some things, but totally unacceptable for others.
In the process of moving most of my funds out of Navy and into another institution, I experienced still more Navy crap. I went into a local NavyFed branch on the west coast shortly after 2pm, and needed a bank check made payable to myself. As I was leaving the window and looked at the check though, I saw that the date looked funny. Sure enough, they POST-DATED the check for the FOLLOWING DAY. This of course, renders the check COMPLETELY USELESS until the following day (I might or might not be able to deposit it, but I certainly wouldn't be able to cash it or get the money out anywhere else before the date of the check). Nice, huh?
It's not a matter of the funds being available -- they were completely available. But when I went back to ask, I was told that NavyFed banks on East Coast time, and since it was after 2:00pm (after 5:00pm east coast), the computer automatically puts the NEXT DAY'S date on the check. Which means if you live on the west coast, the only REAL hours you have to bank with them are from 9-2, because anything after 2pm will be posted the next day (if you live in Hawaii, that gives you only 9am-11am to bank to get the same day's date).
I complained, and finally one of the senior CSRs told me they could re-do the check at one teller who they keep on local time (with the proper date), so we went through the hassle of voiding the old check and having them write out a new one with the teller that went by local time. But the default for them (unless you specifically ask for it) is to set everything for east coast time, no matter where you live.
However the fact that they still kept one teller and terminal on local time tells me that this policy is NOTHING BUT LAZINESS on their part, because if it was truly an across-the-board policy, they wouldn't keep one teller on local time and be able to re-do the check with the PROPER DATE when asked. They simply set the rest of their terminals to east coast time, and unless you ask specifically for it, you'll most likely get the following day's date from default. Isn't that nice?
NO OTHER BANK OR CREDIT UNION does this (walking in at 2pm to get a bank check, the funds are cleared and immediately available, but by default, they put the FOLLOWING DAY'S DATE on the check).
I really hate this place. Which is why, like others here, I'm in the process of shifting my accounts to another credit union.
I've been using Navy Federal Credit Union since my dad first opened a savings account for me as a child. They approved my first credit card without any prior credit history, and then gave me an excellent interest rate (3.5%) on an auto loan I got through them several months later. I was able to complete absolutely everything online with very minimum hassle. For the auto loan specifically, they printed up the documents at a local branch, made sure I understood everything, and sent me on my way. I've had to call a couple of times in regards to payments on my auto loan and credit card, and every time I've contacted them they've been more than helpful. They have some of the friendliest CSRs I've had the pleasure of speaking with. All around a great company.
I have been coming here for years. I'm loyal and love the services. I mostly use checking and savings accounts, but still the same quality service from all around. I used USAA, but some of the fees I don't agree with.Regular banks I don't like as much either. So I do all my banking with Navy Federal Credit Union. Customer Service has been quick and pleasant, and I don't have any issues when I have a problem that needs addressed. I usually do not have to talk to more then one person on any matter. I would be very sad if Navy Federal Credit Union went out of business, because I don't want to go anywhere else.
I don't know about these other people, but I know that all the experiences I have had at Navy Federal have been 5 stars. They answer questions, helped me clean up my credit, are friendly and customer orientated. This institution doesn't charge for your checking or savings accounts, they help you save money, they send account alerts when spending habits change, I can get a new CC or check card right at the branch, no waiting, no costs. They now have a program to get a personalized, prepaid gift card at my branch.....NO CHARGE. I have done the big name banks, they charge for EVERYTHING, and treat you like a criminal for wanting any help. Navy Federal is the best, thank you.
Navy Federal Credit Union is a bank where I have been trusting my financial welfare to for a decade now. I couldn't be happier. With the lack of checking fees, and only a $5 minimum in savings to keep your accounts open, I'm really happy with how little of my money I've had to give up to keep my banking accounts going.
On top of that, there are also so many other options that allow you to get the most out of your money. I have certificates of deposit with great rates as well. There are times when you can find rates of 5% or more. And an introduction to CDs with a 3% CD that allows you to test the waters. That's what I did, and found out about stacking CDs for the best rate of return.
Loans are fantastic. Getting a loan is easy, and I've done both my car loan and home loan through Navy Federal. The rates are great, and I couldn't be happier.
My experience with Navy Federal Credit Union has been really good for the past six years. Ever since I joined then in 2008, Navy Federal have shown that they care about any concerns that I have given them. Also, they have taken care of the money with hardly any errors when it comes to transactions between accounts, withdrawing, depositing, and etc. I have a credit card with them and that credit card has help me to restore my credit back into a healthy number in order for me to get items that require a good credit score. Navy Federal gave me the opportunity with giving me a credit card, while other credit unions denied me. They also are very good when it comes to their annual percentage rates because they give me the lowest rate possible. Their customer care are very helpful every time I have a problem trying to use my money in any possible way. For example, some unknown person stole my information to buy several items that totaled up to $4000. The Navy Federal customer care operator helped me to obtained all of my money back by informing me with exact details in how to report and handling with this incident. Also, when I asked them for a loan, they didn't ask me any question about the loan, and gave me the opportunity to further my opportunity to increase and build my credit from the grave. This credit union has been there for me in the most darkest times and the good times and I would recommend this credit union to any person that is interested in a good place to place their money.
I have been a member of Navy Federal credit union for a little over a year and it is better than any bank I have ever used in the past. I do not have to pay to keep money in my account with them like all major banks are charging. I have used many of their online account features and do most of my transactions with them without leaving my house. I like being able to deposit checks by scanning them in from home. I have also spoke with customer service before and they were able to quickly answer all of my questions. The only complaint I actually have with them is there are not enough physical branches, the closest one to me is 100 miles away. I have never needed to go in to a physical location since I opened the account because of all that I can do with their website or customer service line. I have had a few different banks over the years but I would never switch back to a bank after using this credit union.
I've actually never wrote a negative review about anyone until today.i was speaking with someone who I had not seen in a long time and we had spoke for 15 minutes, and yes we may of been in standing near the counter and there may of been confusion but she comes up and has the nastiest attitude. I apologize that we spoke for so long but you do not need to behave like that. I am a customer and you need to please me, not scold me with your tone and treat me like I'm a 10 year old, I was unaware that I was being rude. . You work in customer service, this is your job - do your job like you're suppose to, and I inderstand we have bad days but you are still required to do your job. It's your job.
Like most veterans or currently active duty military personnel in the Navy, Coast Guards, and Marine Corps, I bank with Navy Federal Credit Union. This is where I had my direct deposit setup for my pay and the money always went through and available when I needed it. I never had the need to go in person to a physical location because they have a really well designed website. I can setup online bill payment, transfer money, and pretty much all the typical function you expected from online banking. The interface is clean and load fast even when I access it from my phone. The only bad thing I can say about them is they don't have nearly enough ATM location as I would like. You can find them easy enough on military installation but once you get out of the base there aren't that many location that have a Navy Fed ATM. Other than that I find their ATM fee and other standard banking fee to be reasonable. I'm fairly satisfy with this bank.
If you make a deposit via a Co-Op ATM with NavyFed (even if it's a CASH deposit), you will need to wait a MINIMUM of 7 DAYS before you can get ANY of that deposit back. NO exception. Not even $20 is made available before 7 days. And the deposit will NOT show up in their system for DAYS (as if you never even made your deposit) -- but of course WITHDRAWLS are dinged to your account IMMEDIATELY.
## KEEP READING TO SEE HOW OTHER CUs COMPARE ##
I deposited $200 in CASH to my Navy account via a Co-Op ATM, but the next day realized I would need those funds. However I found out I would have to wait a FULL WEEK to get at the small amount of CASH ($200) I deposited. NO OTHER INSTITUTION I KNOW DOES THIS (not even making SOME of a cash deposit immediately available). Navy is SO BAD that not only was it not available... their system didn't even show that I had MADE a deposit. Finally the CSR was able to track it down on the "Visa System, not our own system yet", at which point she told me that once they received confirmation from the Visa System (which might be another few days), they would not make even ONE PENNY available back to me until FIVE MORE BUSINESS DAYS (ie, another full week) had passed.
At this point, I asked to speak to a supervisor, who verified that yes, while WITHDRAWLS are immediately dinged against your balance, Co-Op deposits (for those people who don't happen to live by a Navy branch) will be held for a FULL WEEK (5 business days + weekend) AFTER they get the information sent from Co-Op (which adds even more days). Even if it's cash. Even just a small amount. They WILL NOT RELEASE ONE PENNY.
Supervisor kept insisting "If you don't live by a branch, there are other ways. For instance, if you have a smartphone, you can scan your deposits." To which I replied "Leaving aside people who don't have smartphones, please tell me, how do you scan a CASH deposit?" "Uh... well, no, you can't. But I see you've made some ACH transfers from another credit union before. You can always transfer the funds from another institution. Then it only takes a few days." "If I'm going to deposit money, why should I need another credit union to deposit there and have to do a transfer? If I have to do that, I'll just forget about Navy and deposit straight with them." "Well, you can always scan your deposits with a smartphone.." " And again, how do you scan a cash deposit?" "Uh... sorry sir, this is our policy." I was told even under extenuating circumstances, NO exception would be made, for ANY amount, even for a CASH deposit.
What a lovely way for Navy to treat their customers.
Before you start leaving comments in defense of Navy, let me point out a few things: (1) This was a CASH deposit -- having nothing to do with waiting for checks to clear. (2) The amount was SMALL ($200). (3) Unless you live by a branch, a Co-Op ATM is the ONLY WAY to deposit Cash to Navy (unless, as the rep suggested, I use my other credit union as a go-between. But then, why even BOTHER with Navy?)
And finally... EVERY OTHER financial instituion I know of allows at least as PARTIAL availablity of funds right away -- and would allow the whole $200 back immediately.
To make sure, I decided to call 3 of the nation's Top-10 CUs at random, and VERIFY their Co-Op Deposit policies:
WHEN DEPOSITING FUNDS VIA CO-OP ATM:
(1) NavyFed (largest CU in USA): NOTHING available for at least a week, regardless if it's CASH or check. ALL funds held a MINIMUM of 5 business days (ie, a FULL WEEK) PLUS the processing time from Co-Op. Typically this will take 1 1/2 - 2 full weeks after you make your deposit before even one penny is available. Again, Withdrawls are dinged against your account IMMEDIATELY.
(2) SchoolsFirst FCU (5th largest CU): unless there are red flags on a customer's account (ie, bad history, security problems, etc) a MINIMUM of $200 is IMMEDIATELY available regardless if cash or check -- though usually $1000-$2000 is available IMMEDIATELY, no differentiation between cash or check.
(3) Alliant FCU: (7th Largest CU, that ANYONE can join, an open credit union):
For Co-Op CASH deposits:
First $2500 available IMMEDIATELY
After 2 business day hold, the rest is available.
For Co-Op CHECK deposits:
First $2500 available IMMEDIATELY. After a 2 business day hold, the next $2500 is available. Anything over $5000 will be available no more than 7 days from initial deposit date.
OTHER institutions make at least SOME of a Co-Op deposit available immediately.
Not NavyFed. NOT ONE PENNY will be released back to you until at LEAST ONE WEEK (5 business days + weekend) -- PLUS the processing time from Co-Op, which usually makes it at least a week and a half.
This was the last straw for me.
I'm just going to take everything out of Navy and not even deal with them anymore. I've had other problems with them as well, and their policies, quite frankly, treat their customers like trash.
Why would ANYONE want to bank with them, with their terrible policies (and refusal to make any exceptions) when there are other great CUs (like Alliant) that anyone can join -- and that have night-and-day different policies than Navy -- and unlike Navy, actually treat their customers right?
I have been with this bank for about 20 years. Everytime I call them with an issue, the representatives were very professional, friendly and helpful. I have had overdraft fees reversed, and able to remove fraudulent charges with ease and efficiency. Once, the bank even called me concerning charges that were suspicious, and they quickly reversed those charges and sent me a new card free of charge and speedy delivery. Their interest fees for my credit card are minimal. I have never had a problem with this bank that hasn't been solved quickly.
I had great results using The Navy Federal Credit Union while i was overseas in Japan. They made it very easy to travel around the world and not have any issues. I never had any problems with my dealing with them. Their provider service with a smile and i was protected when my card was stolen in Thailand and they promptly got me a new one very quickly. I continue to use them to this day and i have been out of the service for 15 years.
I have been using Navy Federal Credit Union for about 4 years now. I like this credit union as it caters to the military. Every time I deal with them it is always good. Even when I have to go to the credit union in person I have never had a bad wait time. Compared to other Southern California credit unions, this one takes the cake! I would recommend the Navy Federal CU to anyone that is eligible.
I have been pleased with this credit union. i have had an ccount for many years now. A while back i had an issue with credic card fraud and i explained my situation and the next day i was refunded the funds that was stolen from me. they are very friendly and have amazing customer service. my only problem would be that i have to drive quite a way to find a location, but as far as products and services i am very pleased.
I received an account with the Navy Federal Credit union through my father who worked in the Navy. I am able to have accounts there was superior interest rates as well as choices in government bonds and other various savings accounts. It has been the primary account used for banking and so far the family has been extremely satisfied with it. Customer service is extremely quick. Most of all, it's relationship to the government ensures that it will be reliable.
I've had an account with Navy Federal for almost 10 years now. They're available by phone 24hrs a day, and the wait time usually isn't too long. The mobile app is easy to use and allows you to make deposits so you don't ever have to visit a branch. You can also use the ATM at any 7-11 for free!
First off, banks figure out ways to nickel and dime you for their bottom line. In general, Credit Unions do not. Specific to Navy Federal...I signed up with them when I was in the Navy. They have always been incredibly competitive on rates with other CU's, and they flat out kill the rates at banks. We learned this as my wife worked at a bank and her 'employee rates' were worse than NFCU. As for the negative rev... view moreiews...something doesn't quite add up. I've never personally talked with a service member or vet who could not get a manners hip there. I have referred dozens of them that direction and each has had no issues at all.
I opened a certificate online five days ago and the new certificate still has not appeared under my accounts yet and the funds have not been transferred from my savings share account as directed. The customer service representative that I called after five days was at a loss to explain why it was not done. At this time my account shows a pending transfer from my savings share account. The representative told me the new certificate should appear the following day. In the future I will not be opening any new accounts online with Navy Federal Credit Union due to this poor experience with them.
Navy Fed is such an incompetent institution that the ONLY thing I have there anymore is the simple savings account -- but they STILL screw up, even with that!
LATEST story to add to everyone else's: NAVY FED POST-DATES THEIR MONEY ORDERS/BANK CHECKS!
The other day I needed to take out $2500 from my NavyFed Savings account, and bring it over to my "real" credit union (another credit union, where I do all my real banking).
First I asked for cash (100s and 50s), and then as the teller was counting it out to me, I changed my mind, and thought it'd be better to have a bank check/money order (made out to myself). You're allowed two free a day (didn't want to carry around a bunch of bills, since I'd just be depositing it anyway at my other credit union).
The teller says "no problem" and takes the cash back. But then she tells me to give me a bank check (cashiers check or money order) she has to get a supervisor's approval. Huh? No supervisor approval needed to give me $2500 in cash... but a supervisor's approval needed to give it to me in the form of a check? So we waited. And waited. And waited. And waited. And waited. I was about to just say to hell with it, give me the cash back, when finally she got a supervisor to come over and approve the check.
So I take the check and leave for my OTHER credit union, where I was going to deposit it (and use it to make a payment). Then the teller at my REAL credit union looks at the check and says "you know, we can't cash this check today. For some reaon NavyFed has posted-dated it with tomorrow's date."
THAT'S RIGHT. NavyFed POST-DATES THEIR CHECKS (even when paid for with CASH) FOR THE FOLLOWING DAY. This wasn't something hand-written. This was their normal bankcheck, all computer printed... except sure enough, it had THE NEXT DAY'S DATE ON IT.
What a lovely institution. Have you heard of ANY other institution (from banks to credit unions, to even 7-11s) that POST-DATE their money orders, cashiers checks, and bankchecks for the NEXT DAY? Even when paid with cash (we're not talking about waiting for funds to clear here folks). This is how it spits it out from the computer.
DO NOT WASTE YOUR TIME AND MONEY DEALING WITH THIS TERRIBLE INSTITUTION. I joined them back when they had good CD rates and had to fix problem after problem after problem for the simplest things. It got to be so bad that the ONLY account I now have with them is their simple savings account, and virtually don't use it at all. There is NOTHING good to say about NavyFed.
But I just had to laugh. Not even something as SIMPLE as turning CASH into a BANK CHECK could be done there without INSTITUTIONALLY screwing the customer yet again. Post-dating a bank check for the next day?! When it's all automatic and computer printed?
DON'T WASTE YOUR TIME OR MONEY. I have now cleaned out all my funds from there (except for the $5 to hold the account). I'm done with them. I have enough other things to do in life than deal with these incompetent morons. Don't get me wrong, I know every institution can mess up from time to time. With these guys it is EVERY, EVERY, EVERY SINGLE TIME. I'm done.
I've covered this topic here before but it's worth doing again from time to time, especially for Active Duty and family stationed overseas, those who deploy for long periods of time, retired, and other members who may work and/or live overseas. This is not anti-NFCU, merely information and awareness for those who aren't dialed or simply don't pay much attention to it- like I didn't for so many years on active duty, about 70% spent deployed or stationed overseas.
NFCU Visa logo ATM/Debit/Credit card products have a 1% International Transaction Fee attached to them. Not bad compared to some out there with 2, 3, 4 and even 5%. tacked on! You won't see this clearly indicated on the NFCU terms because, as they and most other banks/CUs will tell you, it's not their fee. Fair enough, but your account balance doesn't see the distinction.
There may also be ATM owner fees, ranging from $0 to $6~$7 per transaction (My country of residence is nearly $6 for foreign ATM cards) and, like the withdraw amount itself, will fluctuate with foreign exchange rates (if applicable).
NFCU also has a $1.00 per transaction flat fee if using a Plus system ATM or a foreign ATM. I am not sure if they reimburse this proprietary fee when using a foreign ATM in their authorized pool. They used to far as I can recall but it's not 100% clear to me now when reviewing the front page terms on their reimbursable checking accounts.
NFCU advertises their Active Duty and Flagship Checking as reimbursing ATM fees up to $20/mo and $10/mo respectively. Cool, eh?
Using the above fees on a notional foreign ATM withdraw of $500.00 equivalent in foreign currency, the fees would be roughly $5 in Visa International Fee, $6 ATM fee (YMMV here) and $1 NFCU fee. $12 or roughly 2.5% of the total withdraw. Again, there are variables and the % fee will fluctuate with foreign exchange rates relative to the final amount of the withdraw itself, also based on foreign exchange rates.
It's easy to see how these fees would quickly exceed the monthly reimbursement amount while noting that the Visa 1% fee will not be reimbursed.
Other points to note:
Foreign Exchange rates for Visa (and MasterCard) are set by them, not NFCU or the *ATM, and are generally just a tad below International rates. Side note, Visa exchange rates are generally a smidge better than MasterCard.
*Dynamic Currency Conversion (DCC). When using a US ATM/Debit/Credit Card overseas "out in town", you may be presented with the option of having the foreign currency bill settled in US Dollars right there on the spot. ATMs usually put up a screen giving you this option. Debit/Credit card signature receipts with this option are often much longer in length with all the agreement verbiage and the total displayed in US Dollars.
ALWAYS DECLINE DCC!
The exchange rate given is less than the Visa/ MasterCard rate and often 1 or 2 points below International. Decline the ATM option screen, which may be worded in a confusing way so read and select carefully. For debit/credit card transactions, politely insist the merchant cancel it and re-do in host nation currency so you get the better Visa (or MasterCard) exchange rate. They might say they can only do DCC transactions with foreign cards. I've stood my ground and waited for up to 20 minutes until they give up and miraculously figure it out. Up to you how far you are willing to go - options being agree to DCC, cancel and settle in cash or where possible, abandon the goods and walk away. In any case, make sure you get the transaction cancel receipt and check your account on-line. You may have a pending transaction and it might take a day or two to clear off.
Another note about DCC is Visa/MasterCard STILL charges the International Fee even if you settle in Dollars, so you get gouged twice. This charge used to be called "Foreign Currency Fee" or "Foreign Exchange Fee" and has been changed over the years to International Transaction Fee (or similar). Clever, huh? Even more sinister, it used to be a hidden fee until legislation forced it to be listed as a distinct charge on your statement.
YMMV where you live and it would certainly be wise to use an overseas NFCU branch if you've got one, and lower cost foreign exchange options on base as much as possible vs. using ATMs and local debit/credit transactions.
If you find the fees unacceptable, as I did years ago, once I started paying attention, there are better options out there that absorb the Visa/MasterCard International Transaction Fees, don't charge any extra ATM fees, and also reimburse foreign ATM fees. A number of companies offer credit cards without International Transaction Fees and a fairly decent cash rewards program, which can help bridge the minor gap between Visa/MasterCard foreign exchange rates and International rates.
Do your homework and don't be lazy to break out of the comfortable shoe of your present financial institution in order to avoid avoidable fees.
It's your money!
Navy Federal Credit Union is my favorite credit union because it does everything that I need it to do and more. It has a great app on the app store that I use all the time to transfer my money between accounts. This is so convenient and makes the credit union so much better than a bank. The customer service is great and doesn't make you wait very long and the website and app are easy and intuitive. Overall they are just a great credit union and i would highly recommend them.
I've been with this credit union for a number of years, and they have always provided top notch customer service. This organization offers great rates for auto loans if you qualify, and they seem to try their best to refinance almost any auto loan within reason. I've taken out a few personal loans over the years, and they have always been patient and generous as well. Overall, I would rate them very highly, and reccomend them to anyone in the military or working for a federal job in any capacity.
My experience with this credit union over the past 7 years have been fantastic. They are very friendly and helpful, and they bring the best quality service to their members. In my 7 years of membership, I never suspected any fraud in my accounts, or worried that any funds might go missing.
Yet another review to add to everyone else's here.
NavyFed is TERRIBLE.
It can take up to a WEEK to have any deposit made at an ATM credited to your account. Seriously. Even a CoOp ATM. Even a NavyFed ATM. I'm not talking about clearing the funds. I'm talking about even acknowledging that the deposit was even made.
I belong to three credit unions (Navy, and two others). The other two show your deposit IMMEDIATELY (and both also happen to make those deposits immediately available!) But not Navy. Nope. Not only do they not make the deposit available right away... THEY DON'T EVEN SHOW THE DEPOSIT UNTIL DAYS, DAYS LATER.
If I make an ATM deposit on a Friday afternoon at my OTHER two credit unions, it immeidately shows it in my balance, and the deposit is immediately available.
If I make an ATM deposit on a Friday afternoon at NAVY (either at a CoOp ATM, or even at Navy's OWN ATMs), then even by MONDAY, it will not even SHOW that you even MADE the deposit (let alone letting you access the funds). By Tuesday evening, they're automated system will finally tell you a deposit was made on Friday, and that funds will be available the next day after midnight (ie, Thursday usually by the time you can get at those funds -- deposited the previous Friday -- even if it was cash).
I finally had enough of this crap, and moved all my banking over to another local credit union (I won't even bore you with my Navy CU Card fiasco story).
Do yourself a favor. Just AVOID this place. Have a look at the other reviews here, it should tell you all you need to know. I won't put up with terrible service like this, and neither should you. And if you look around, you'll quickly find that you don't have to "pay" for good service. There are plenty of local, open credit unions and local smaller banks all over the country where you can do your banking.
When opening an account with Navy Federal Credit Union they do a hard inquiry on your credit report. They don't inform the customer of this. As a result, your credit score is dinged.
Hard inquiries occur when a financial institution, such as a lender or credit card issuer, checks your credit report when making a lending decision. For example, hard inquiries commonly take place when a consumer applies for a loan, credit card, or mortgage. You typically have to authorize a hard inquiry. Most important to note, hard inquiries will lower your credit score by a few points and remain on your credit report for two years. As time passes, the damage to your credit score will decrease until the hard inquiry falls off your credit report.
I've been a member for more about 15 years. Their savings rates aren't incredible, but sometimes they have a promotion for CDs that are worth it. I've also held a few loans with them and used to do all my checking with them.
Navy Fed is the largest credit union in the country - it's really more like dealing with a commercial bank. Their locations were convenient when I was active duty, but now that I don't live near a Navy/Marine Corps base there's not much for me.
I keep my minimum deposit, consider them if I'm looking to refinance my mortgage, and keep an eye out for good promotions. But that's about it. If you're active duty (especially Navy or Marine Corps) or retired near a branch, then it's an attractive option for your primary bank. Otherwise, there are better alternatives.
Here's another incompetent NavyFed story to add to all the others. Just the other day I went into the local branch. A Roth IRA CD had just matured and my father wanted to take the funds, and instead of renewing at the current horrible CD rates, just move it to a Roth IRA Money Market account.
Simple, right? No change of anything (Roth IRA to Roth IRA) -- the only thing changing is that instead of renewing it as a CD, we just wanted to change it to a (Roth IRA) money market.
Well, nothing is simple at NavyFed. After waiting to first "check in", then waiting a long period of time to finally see someone to help, the person at the branch told us that Navy does not offer Roth IRA Money Market accounts. When I insisted that their web page shows "IRA/ESA Money Market Account" information, he said "yes, but not ROTH IRAs." He then said "look, my system isn't giving me any choice except to renew it as a ROTH IRA CD. If you want an IRA Money Market, we'll have to first convert it from a Roth to a non-Roth IRA." That was NOT what my dad wanted, so we asked to speak to the branch manager.
Okay, so the branch manager comes over and looks at their computer screen and says "Hmm... you know, it's not letting us do ANYTHING except renew it as a CD again. And our front page doesn't say anything about "ROTH" IRA money markets. I don't think we can do it." (this was the BRANCH MANAGER).
Except I had called their 800 number in the past, and was told that yes, they of course have Roth IRA Money Market Accounts. When I told this to the branch manager, she then picked up the phone, and tried to speak to someone at their "tech team" wondering why no options were being available except to renew the funds as a CD (or get the cash out). She then said the incredible statement that "at the branch level, we only get computer updates every once in a while, so I'm going to try to call our tech team." Except it has nothing to do with "updates". Roth IRA Money Markets have been available at NavyFed for quite a while.
So while we were all there in the room, I took out my cel phone, called NavyFed's nationwide 800 number, spoke to the IRA department, and verified that yes, they of course DO INDEED offer IRA Money Markets (either normal IRA or ROTH IRAs). The lady on the phone said she could do it for us right then and there. But because we were with the branch manager and another employee, I told the lady on the phone we'd call her back later.
At that point, I hung up, and as we had already waited 55 MINUTES at this point from the time we walked in the branch (I timed it) -- and the branch manager was still on the phone to her tech people trying to figure out how to do something so simple, we told her please to just leave it, that their 800 number said they could easily do it over the phone, and that we'd call later and do it ourselves. Again, not wanting a mess-up, we told her PLEASE DON'T DO ANYTHING to it, we'll take care of it ourselves later with the 800 number people.
With the branch manager still on the phone to her tech people, the other employee apologized, and we left. No sooner did we get home, did we call the 800 number back, and connect to the IRA department. However when we gave them the account number for the CD, they said "Oh, it's already been closed out, and a Roth IRA Money Market account had just been opened with the funds." So, it looks like the local branch finally figured out how to do it somehow -- though they DISREGARDED OUR REQUEST NOT TO DO ANYTHING at that point (that we would do it ourselves later with the people at the 800 number) -- yet DID IT ANYWAY. Lovely.
This KEEPS NavyFed's PERFECT 100% MESS-UP RATE Every SINGLE TIME ANY of us have gone into the branch needing ANYTHING done.
These guys are TERRIBLE. They were going to force us to convert a ROTH IRA to a Normal IRA! Like others here, none of us in our family use Navy as their main bank, and the incident the other day is YET ANOTHER in a LONG LINE of ineptitude of NavyFed. Just thought I'd share it. As others have said, AVOID THESE GUYS, at least as your main bank. They are the VERY DEFINITION of INEPT.
I have only been a member for 5 or 6 years, but they have always been helpful to me. I have only used savings products, so I can not speak about other services they offer.
I just had to move quickly to take advantage of a "special offer" at another credit union. I had an IRA CD mature about two weeks ago at NAVY, and no place to move it. So I just parked it in the IRA account into a savings account.
I filled out the paperwork to do a DIRECT TRANSFER of the IRA funds. I mailed the original forms out to the new CU, and then faxed a copy along with instructions to both credit unions. I got a call the next day from Navy, asking me if I wanted the check mailed or send overnight. They offered to do the overnight at a very low rate. I told them I did not yet have the IRA account opened and no account number. I asked them to call the other CU to see if they could talk them into assigning the IRA account number to make the transfer.
I guess they did. The next day, the funds were at the new CU, and they opened and funded the CD special.
WOW - very resposnive, and even worked off the faxed paper instead of having to wait on the originals.
THANK YOU - NAVY FCU - IRA DEPTARMENT
Among all the bad (and sadly, deserved) reviews of Navy Federal, I'd like to point out something that no one else has mentioned yet: the feeling that you're still banking in the 1960s with these guys (and in this case, that's not a good feeling). Like others here, I'm a memeber of multiple credit unions and also do business with banks, and I've never seen anyone worse than Navy Fed. But, as others have pointed out, they occasionally have good CD specials that sometimes (sometimes) make it worth jumping through all the hoops and incompetence of Navy Fed.
However I want to point out how backward's Navy's automated banking system is.
## TWO THINGS: ##
(#1): AUTOMATED INFO ON YOUR ACCOUNT TAKES 2 DAYS TO UPDATE
If you make a despoit (even a CASH deposit in person at a branch), that deposit will not show up on the automated systems UNTIL TWO DAYS LATER.
Likewise, if you make a withdrawl (even a withdrawl in person at a branch), your withdrawl will not show up on their automated systems UNITL TWO DAYS LATER.
Welcome to banking from the last century.
I had $1000 in a normal NavyFCU savings account. Not too long ago, I went on a Monday to deposit $200 in CASH and in PERSON at the local branch. I was given a receipt that did indeed show the new balance with the deposit I just made. HOWEVER... it's standard practice for Navy NOT TO UPDATE THEIR AUTOMATED SYSTEMS WITH DEPOSITS OR WITHDRAWLS FOR A DAY OR TWO. And sure enough, when I checked using their automated phone system that night, it still only showed $1000. And all day on TUESDAY (all the NEXT DAY), it STILL only showed $1000. Finally on Wednesday, their systems had been updated, and it showed $1200 as it should.
Same thing with withdrawls. Just this Monday, I had about $500 in my savings account. Again, I went into the BRANCH in PERSON on Monday, and took out $400 (as a bank check, though that doesn't matter). I was given a receipt showing my new balance was now around $100... but AS ALWAYS, NavyFed DOES NOT UPDATE THEIR AUTOMATED SYSTEMS until after about 2 DAYS. And sure enough, I called the automated system that night. Still said I had $500 in my account. Called the automated system TUESDAY. Still said I had $500 in my account. It wasn't until WEDNESDAY that it finally got around to updating itself and saying I only had about $100 left.
** Imagine if I was having a busy week, and had forgot about the withdrawl, and needed to know how much I really had in my account. Their automated systems will tell you the WRONG AMOUNT for TWO DAYS until they finally get around to updating them. What if I had written out a check to someone, relying on what their automated systems say I have as my balance? It would have bounced, and I would have been responsible for the fees. **
However, THANKFULLY I do NOT have a checking account with them -- and this is one of the many reasons why.
As I mentioned earlier, I belong to other credit unions (as well as a bank), and ALL of the others IMMEDITATELY update their automated systems to show any deposits or withdrawls -- IMMEDIATELY. None of this "2 days waiting" junk. Again, this is not waiting for checks to "clear" or anything. Me taking out $400 took two days to post to their automatic systems (as do all deposits and withdrawls, it seems) -- and frankly, it's pathetic. With my main credit union (NOT Navy), the instant I make a withdrawl or deposit -- either from the ATM or in person at the branch -- I can call the automated number and my account will immediately show it seconds later. Not with Navy. Don't believe me? Try it yourself. Make a withdrawl from your account and then call the automated info line to find out your balance, and see how it's not posted that day. Or the next day. Only two days later does it finally show up.
*** #2 ***: NavyFed Savings Accounts only allow ACH DEPOSITS -- *NOT* Withdrawls! And if you TRY to do a withdrawl, Navy will let it go through -- THEN INITIATE AN ACH OF THEIR OWN TO GET THE MONEY BACK!
I have a normal NavyFed savings account that I'll occasionally make deposits to via ACH (from another credit union). So when I have some extra money at my main credit union, I'll send some (via ACH) to my NavyFed savings account (and by the way, it takes NavyFed 1-2 days LONGER than any of the other institutions I ACH to, for the funds to show up).
However once I needed the money in my Navy Fed account, and didn't feel like making the trip to the closest branch. So instead, I did an ACH from my main credit union where, instead of sending a deposit, I had my main credit union "take" or get some money via ACH from Navy Fed (an ACH withdrawl). Apparently, Navy Fed doesn't allow this (and after this fiasco I called and verified -- they will allow you only to DEPOSIT to savings accounts via ACH, NOT withdraw). But what really angered me, was that their system ALLOWED the ACH TO GO THROUGH. A couple days later, and the funds from NavyFed were in my main credit union's account. I immediately took the funds, and used them. BUT THEN 24hrs later, NavyFed initiated -- on their own -- what I would can an "ACH Recall", where they then sucked the money back from my other credit union, back to NavyFed. Except I had already withdrawn the money to use -- so my main credit union had to take it from another account so I wouldn't be overdrawn. When I called Navy, they said "sorry, we don't allow you to withdraw from a savings account via ACH, only deposit" -- but the SYSTEM lets it go through -- THEN tries to get it back. Thankfully, my main credit union was great in all of this (UNLIKE Navy) and didn't charge fees, and I got it all straightened out thanks to my main (other) credit union.
There are a whole host of reasons not to make NavyFed your primary bank... others have posted a lot of them, but I thought I'd post this two as well -- as no one else has written on this yet.
Anyone who takes banking seriously should seriously avoid NavyFed for anything but CD specials until they change.
I switched to NFCU after leaving USAA.
NFCU has had excellent customer service with both me and my family so far. They even dropped like 5% off of my auto loan compared to USAA.
The only downfall I've seen so far is they froze my debit card immediately after I deployed cause i missed 1 car payment.
Until they prove to be failures i will continue to recommend them to my soldiers.
Navy Federal Credit Union has been awesome. I have a free checking account and get free checks, online access, mobile phone check deposits and mobile banking through their APP, ATMs where I can deposit checks and cash, and have it instantly counted and posted to my account, great customer service around the clock, and everything I need.
When I applied for a home mortgage, Fairwinds credit union charged me anywhere from $100-$200 just to apply for the mortgage! While Navy Federal allowed me to apply for free! Not only did they offer me a great rate and a super fast pre-approval, but the have been incredible during the 10 months my contracted short sale home has been taking to finally be approved by the seller's lender, so it could begin to close.
The mortgage loan officer I have been working with from Navy Federal, Ms. Joy Caraker, has gone above and beyond, answering questions, explaining the home buying, loan options, points, and mortgage process to me-since this is my first home purchase, and returning calls and emails promptly, and even giving me her personal cell phone number so I can reach her after hours or whenever needed if my realtor needs paperwork right away or if I have questions or need help with something. She has been awesome! And Navy Federal is also offering me closing cost fee help. I have had accounts with many different banks in Florida, and by far, Navy Federal is definitely my favorite amogst them. Their products, specials, and customer service is top notch.
Out of all of the brick and online banks that I have been a customer of, the only bank I have found that comes close to NFCU in incredible customer service and products and perks is City National Bank of Taylor Texas, CNBT. I highly recommend them both!
SORRY YOU MESSED UP YOUR LIFE TUCKER AND NFCU DOES NOT WANT TO DO BUINESS WITH YOU. I WOULD NOT WANT TO EITHER! SEEMS LIKE YOU CAN NOT HOLD A STEADY JOB AND GOT IN OVER YOUR HEAD AND HAD NO EMERGENCY FUND... I HAVE BEEN WITH THEM FOR OVER THIRTY YEARS... YOU JUST COST ALL NFCU MEMBERS MONEY... SOMEONE HAS TO PICK UP THE TAB FOR YOUR MISTAKES... PEOPLE LIKE YOU ARE A PROBLEM... MY CREDIT SCORE IS A LITTLE BELOW THE AVERAGE FOR MY AREA... THERE IS A ONE COURT JUDGEMENT AGAINST ME... I WANTED TO BUY A NEW CAR... ONLY 34,000 DOLLARS... HEY NFCU I WANT TO BUY A NEW CAR SEND ME AN OPEN PRE PURCHASE CHECK FOR THAT IN THE AMOUNT OF 35,000... OKAY FRIEND,ON THE WAY YOU SHOULD GET IT IN TWO DAYS... THANKS NAVY FEDERAL, YOU ROCK...
PS: I RETIED AT THE 15 YEAR MARK(ARMY A LITTLE BREAK THEN NAVY... LAST TWO YEARS IN THE HOSPITAL... NEVER HAVE TO WORK AGAIN IN MY LIFE... I AM 53... RETIRED AT 37... MY LIFE ROCKS, I AM ALWASYS LAUGHING, BEEN IN AN AWAESOME REALATIONSHIP FOR 17 YEARS WITH A GIRL THAT JUST TURNED THIRTY SEVEN... I HAVE AN AWESOME LIFE... NFCU DID NOTHING WRONG... YOU DID... I DON'T KNOW IF YOU WERE EVER IN THE MILITARY... IF YOU WERE THEY DID NOT GIVE YOU ANY RESPONSIBILITY... STOP BLAMING OTHERS FOR WHERE YOU ARE AT IN YOUR LIFE!!! BE A MAN AND GROW AND ACCEPT RESPONEABILITY FOR YOUR ACTIONS... PERIOD!!! I HOPE YOU READ THIS POST AND CHOOSE TO TAKE RESPONSIBILTY FOR YOUR LIFE... IF THIS POST UPSETS YOU TO BAD, DON"T CARE... FELL FREE TO RESPOND... IF YOU WANT TO TALK TO ME IN PERSON ABOUT THIS , YOU NAME THE TIME AND PLACE AND I WILL HAVE NO PROBLEM CHATTING WITH YOU AND HELPING YOU THROUGH THIS TOUGH TIME... JUST BE CIVIL...
Welcome, Coast Guard!
Coast Guard, we are proud and excited to have the opportunity to serve you and your family. We would be honored to have members of the Coast Guard join Navy Federal and take advantage of all that we have to offer, such as:
· 24/7 live telephone support
· Over 220 branches worldwide
· Over 50,000 free ATMs
· Mobile Banking,* including Mobile Deposits
If you are regularly employed by the Coast Guard—Active Duty or Civilian personnel—please click here to join Navy Federal or contact us with any questions that you have about membership.
Refer an eligible Coast Guard member for membership, and you'll each get $25!
Download the form, fill it out, and take it to your nearest branch, or call 1-888-842-6328
Navy Federal Credit Union: Welcome, Coast Guard!
I'm the son of a Vietnam vet who was wounded in war and received a purple heart. He was honorably discharged yet I was told by Navy fcu that I can't join because my father didn't retire from the military! Hello! He took a bullet for our country! He was attacked with nerve gases! It's kind of hard to retire from any job after all of that. Needless to say, I aim to contact the local media and write to the DOD, VA, and the President in regards to this. I think it's a slap in the face to those who get wounded while protecting us to tell them that they nor their children can join an institution that was created for the military in which they served!
According to the recent Customer Service Rep that I just spoke to today, they can contact third parties in order to contact me. Actually that is not true. Georgia State Law clearly states that they CAN NOT contact any third parties.
On top of this they dont seem to want to call me about my credit card payments until 7 or 8 pm at night, when I am spending time with my family. RUDE!!!!!!! I have asked them several times not to contact be after 5 pm, and they still violate my request. They are also extremely rude in the customer service ascpect of this business. They also have been known to freeze my other accounts in order to get payment on the credit card account.
I would tell anyone thinking about going with this "great company" to NOT do it. STOP NOW and just slap yourself for even thinking about going with Bank Of America's evil twin.
Hope they enjoy hearing from my lawyer.
I've been an NFCU customer since I was 8 years old - I opened my first account with birthday money. In the 33 years since then, I have been a loyal NFCU customer (mortage, car, banking), but my latest interaction with NFCU has left a bad taste in my mouth.
I am currently applying for a mortgage refinance with NFCU, and I have been informed that my existing NFCU mortgage escrow account will be used to pay down my existing loan, and that I am therefore on the hook to pay for the taxes and insurance that would have normally been paid with the escrow money. I was also informed that it was not possible to roll the existing escrow money from my old mortgage account into the new account.
I have no credit issues, no defaults, no short sales, no liens - the property is as clean as it gets, as is my credit history.
Does anyone else have any experience with NFCU refinance processes ? Is this normal ? It seems to me like I'm paying NFCU for the privilege of using my escrow account to give themselves two extra interest paymnents. Am I better served by refinancing with another financial institution and just getting NFCU to cut me a check for the escrow money ?
TIA for any information.
Navy Federal says they are there for those who serve! B.S. if some
unforeseen happens and you need to file a BK they drop you FOREVER
doesn't matter if you pay them back 100% plus interest! Way to stand by your
military in their time of need, it's bad enough they had to do it just pour salt in
the wound!! Thanks Navy Federal!
I was a customer woth this formerly outstanding institution. But BEWARE it has become too big for its britches. I bacame 70.00 behind on a 1500.00 credit line and called to make arrangements. They agreed to them (2 weeksin future). I even paid early by western union. When I deposited 2000.00 in my bank account and put 700.00 toward my credit line it was happily accepted. Imagine my surprise when I was notified that my credit card account was closed, So I called and the rep stated to pay off the credit line in full and they would re-instate it . The closure was because of recent activity on this account. What paying down the credit card ??? Customer NO-service ensued so I immediately withdrew my cash from all accounts. I WAS a customer for 5 years and $70.00 caused all this turmoil. I recommend all military/family close there accounts or suffer the consequences of this institution. USAA is the way to go and is now my choice for loans/creditcards/insurance/checking(free with atm re-imbursement for fees) free checks and a customer service that is freindly/american and glad to be employed.
It took less than 60 seconds to open the Member Appreciation Week Celebration Special certificate on the phone this morning.
Kudos to the CSRs at NavyFed, too. I have been a member of the credit union for two years. From the beginning, they have been unfailingly pleasant, polite and helpful whenever I have contacted them. Even today when they were being inundated with calls on that CD special, the wait time was surprisingly brief and the quality of the service I received from the CSR was as usual.
Navy Federal is a bank that has high cc interest rates and pratically no money returned in savings. I had the for about 9 years and although they weren't a great bank, they sufficed. I got elected for the seaman to admiral program and usaa had great offers... I switched my direct deposit to usaa while keeping an account with navy federal and usaa was beyond amazing... I realized that navy federal was horrific in customer service and rates...like an employees review above, navy federal treats you like a number. I went from a 15.9% on my credit card with navy federal to 4% with usaa. USAA has amazing customer service, and great rates. I have my auto insurance, renters insurance, school loan, retirement and childrens accounts ( they are 4 and 6) with them. I happily closed Navy federal and after 7 more years in the service, I have NEVER had anything even medium or normal (lack of words) with USAA, just excellent and superb. If you are even thinking of navy federal, seriously look into USAA and you'll be happy you did.
I have been an account holder at NFCU for about a year now, and everything seemed to be smooth until I got married.
My wife, who has a clean credit history, is not allowed to be a joint holder on my account. She is also not allowed to go through the teller line because of this. And we were never told why. But this is my last concern.
I had 2 cars financed through NFCU. Vehicle 1, is 2 years overpaid and about to be paid off, but NFCU changed my monthly payment to $38.00 against my will (They also will not let me refinance, or pay on principle for this vehicle).
Vehicle 2 was financed through NFCU, then sold while a lien was still on it. The individual who bought it from me had his credit union write a check to NFCU for my asking price, which was well over a grand of what was owed on the car. It took me a month of waiting before I realized that NFCU was not giving me my money. SO, almost every other day I would go to my local branch and ask the status on it. They would simply tell me it was going to go through 3-4 days from that day. I eventually asked for the Manager, and thought that everything was going to be worked out. She told me that my ,"over-payment is in limbo, and if you didn't come in, you never would have been refunded." This was last week...I got a call today from that manager telling me that she will get on it some time tomorrow.
If you want a credit union that will give you what they owe, be kind and courteous, and honest...Then look elsewhere. As soon as Vehicle 1 is payed off, I am finished with the thievery of Navy Fed. I am going to USAA.
My family has been with NFCU since the early 90's and I guarantee you this is not the bank that my Grandfather joined or the one I joined. They have a new system that back dates purchases. They have made it increasingly confusing to figure out how funds are taken from your account so that they can nickle and dime you $29 returned check fees every chance they get.
How on earth does the bank charge me a $29 fee for a check of $175 when there was a balance of $1311???? Oh it's because a restaurant charged my card three times and voided it twice but because the two voided charges were pending it bounced the check among other bills that went through. All of which had enough funds to cover them.
Ok I can see how this can happen, the timing was off on it all, but when I call to state why this happened and the CSR agent agrees that it wasn't my fault and that there was plenty of money in there to cover the check, she then tells me that because they refunded a $29 fee in April for me that they won't be able to do it again. Next time, because it is too late to do it now, I should contact the restaurant and have them fax over documentation stating that they charged the account too much and to take the pending charges off. WHAT!?!?!
I told the CSR agent that this was the last time they would be taking a $29 fee from me and that I would be closing my account. I said it was completely ridiculous for me to have to try to get a restaurant... A RESTAURANT.. to fax documentation over stating that the charges can come off. And I have to do that before the fee hits. So what if that was a Saturday night and everything went through Monday morning. I guess I would be screwed in that situation as well.
It is very sad that I have to leave this bank and I wish I didn't but I will not lose anymore money to NFCU because they want to be like Bank of America.
My husband and I have been members of NFCU since 1990. We loved the one on one friendly customer service. In the past few years, NFCU has only been interested in getting bigger and bigger. Customer loyalty means absolutely nothing and the customer service is completely gone. We tried to refinance our home and they sent out some hack without a license that appraised out home for (no joke) half of it's true value. Last year we applied for another mortgage on a different home and were denied. We were puzzled. If WE couldn't get a mortgage, who could? We had no debt and a near perfect credit rating. Then, when we asked NFCU for the reason we were denied, it was obvious to us. Whoever input our application listed our income as more than $1,000 less/month than what we earn and the only assets they listed for us were one account we had with them. They did NOT include the other money we had deposited with them totaling close to $100,000!!! It was unbelievable. We have since withdrawn all our money and closed all our accounts. We were not even asked why. (remember, we have been members since 1990) We are currently refinancing our mortgage with another lender and will be rid of them for good. I wouldn't reccommend them to our worst enemy!
I have been a Navy Federal Credit Union member for 30 years. They are outstanding in every way, from excellent rates on savings and credit cards to processing money transfers, IRA deposits, investment advisors, etc.
Only USAA approaches Navy Federal in service, reliability, and efficiency, but they don't quite match it.
I don't do business with Commercial Banks anymore - don't trust them. Navy Federal I trust, as does my whole family. We've never been disappointed.
They are great and to the person that said they discriminate against disabled vets, they do not. I am one. You DO have to join while you are active,just like all vets do unless they work for the DOD as civilians. That is in no way discrimination. It would be discrimination to let someone join after getting out, and others not be able to.
Navy Federal offers great benefits, but you have to work a lot of overtime to get a decent paycheck in Collections. Management does not know you as an individual, only as employee number *****. Supervisors only cater to their own and helping their friends & relatives advance in the company. There is not a real big opportunity for advancement unless you know someone higher up and have good connections. Too much stress in collections and you are expendable no matter how good your numbers may be. They are very two faced and do not abide by their code of ethics. They use profanity in the workplace and are the slightest bit professional-the Collections department. I would recommend military members to go to USAA where you will always be treated with respect. All they care about at NFCU is getting the loan/credit card payment regardless of your financial situation. They tell you to borrow the money just to get by for one month. To them it is about making numbers and getting a percent, not the overall value of genuinely trying to help the member get and stay out of delinquency.
Been with Navy Federal since I was a kid. Seem to always be in the ball park of best auto loan rates and have never had a problem with unfair charges or account lockouts or anything like that.
As far as the wounded veteran comment, If you were a member of Navy Federal you can still be a member even after you are out. Just because you are not Active duty or retired does not mean you cannot be a member. Sounds like comments from competing banks. Love NFCU.
I have had an account with Navy Federal since a kid and I have continued with them while I served in the Marines and after. I have recieved great rates for all my car loans, CDs, Savings, and the online banking has improved over the last year. I am also a member with USAA, but they never could match the rates for Navy Federal. They even helped me to close out my account and transfer the funds with Marine Pacific (thats a crooked bank). The only thing I have seen is those that have failed or other had banking issues prior to they are slow to assist, but me I have never had poor customer service. I will continue to use this excellent Credit Union. I recommend Navy Federal.
I've had NFCU since 2003 and I have nothing but good things to say. They have always been prompt and friendly when I have needed assistance. The nearest branch is a four hour drive away yet they have made it entirely possible to bank with them.
Last Friday (1/27/12), my wife and I closed on a new home utilizing NFCU as the lender. The experience was excellent and they were able to expedite the paperwork and have it completed and ready for signature within a three week period. The VA appraisal pushed the window out to four weeks.
The only thing I can really say to NFCU after these last few years is Thank You!
I was a customer woth this formerly outstanding institution. But BEWARE it has become too big for its britches. I bacame 70.00 behind on a 1500.00 credit line and called to make arrangements. They agreed to them (2 weeksin future). I even paid early by western union. When I deposited 2000.00 in my bank account and put 700.00 toward my credit line it was happily accepted. Imagine my surprise when I was notified that my credit card account was closed, So I called and the rep stated to pay off the credit line in full and they would re-instate it . The closure was because of recent activity on this account. What paying down the credit card ??? Customer NO-service ensued so I immediately withdrew my cash from all accounts. I WAS a customer for 5 years and $70.00 caused all this turmoil. I recommend all military/family close there accounts or suffer the consequences of this institution. USAA is the way to go and is now my choice for loans/creditcards/insurance/checking(free with atm re-imbursement for fees) free checks and a customer service that is freindly/american and glad to be employed.
Should be zero stars.
I have been a member for over 30 years. I lost two jobs in 2011 and ended up having to short sale my home.
Even though NFCU accepted AND approved the short sale, NFCU hasn't reported my mortgage as PAID IN FULL and they ignore my inquires via phone and certified mail. The icing on the cake, NFCU has cancelled my CC with no prior notice - an account that I have had for 20 years without one, not one, late payment.
Guess who is moving to USAA? Bye, bye NFCU.
You are probably better off going with another bank. Navyfcu has probably outgrown itself and the kind of excuses they make is childs play. Cant even get a simple transaction done over the phone without mounds of excuses why fed govt is closed or someone else will call you back and never do
Navy Federal will not allow me to be listed on my husband's account as a joint owner because after my previous marriage, I had to file bankruptcy and a credit card that I had through them was included in that bankruptcy. I didn't file bankruptcy because of any fiscal irresponsibility on my part, I was forced to file because I had $30k of uncovered medical bills that I was unable to get personal loans to cover and was advised upon speaking with attorney after attorney that it was the only way I would be able to resolve the issue.
When I asked the woman if something were to happen to my husband, how would I gain access to his account, she told me that I would have to get Power of Attorney.
I asked her why Navy Fed penalizes people for being sick. She had no response to that. I told her that even though my bankruptcy was five years ago and it was for no reason other than extraordinary medical expenses, and they could pull my credit report to see that in the 5 years since I had the filing that there was zero credit issues whatsoever, I'm still being blackballed for life by them and that it's unfair practice.
I told her the representative that based on this, I am strongly going to encourage my husband to close out his account and take his $50k of loans/investments elsewhere. I also told her that I will make sure that my son, who is joining the Marines, will not use Navy Fed either since they will barr me from being a joint owner to access his account while he is in basic.
Navy Fed is absolutely horrible and uncaring. Take your money elsewhere since if you have a significant life event beyond your control, you will have no help and will be excluded from them for the rest of your life.
I see from the other reviews that my spouse and I have had a very different experience with Navy Federal than the other posters. We have had zero problems with our online accounts. We don't have a problem with the one way bank transfers, it really curbs us from spending what is in our other credit union account. And when we purchased our new truck, Navy Federal gave us a substantially better deal than the Wells Fargo loan through the dealership. Hubby stopped in to the local Navy Federal office, talked to a representative and had the switch made. As to rude employees, I don't know where the other poster's locations are, but I have had nothing but pleasant employees in the three locations we have lived while in the navy. Didn't matter if it was a teller, a loan representative or the greeter person when you first walk in. So I'm not sure why these other people are having such a bad experience with Navy Federal, but we have been extremely happy with the level of service during our 16 1/2 years in the navy.
What a surprise when I went to set up a bank to bank transfer from Navy FCU to USAA.
I found out that you can ONLY push money from Navy FCU to other banks.
You CANNOT pull money from an outside bank account (ex. USAA) into a Navy FCU account!!!
But, you can pull money from an outside bank to ONLY pay an existing Navy FCU type bill (ex. mortgage, car payment, credit card payment, etc).
Navy FCU seems to be behind the times!!!
I called up a representative to inquire about this and the guy starts spouting off some BS about it's a Federal Regulation that they cannot pull money from another bank and transfer the money into a Navy FCU account.
He quickly realized how stupid he sounded and tried to back peddle when I told him he did not know what he was talking about and that I transferred money all the time from USAA to various Rewards Checking accounts all over the country, including to little po-dunk banks in Wyoming and Kentucky.
What a shame for the "worlds largest credit union"...with stupid CSR's to boot! Stupid Squids!
I feel like I am being forced to switch banks...again! I am new to NFCC but due to the constant online banking issues I am closing my account. I simply CANNOT tolerate late payments, no notifications to payment complications, etc. Even after 3 phone calls and several hours woth of explaining my issues they have not fixed "my account issues" on their part of things. If I have funds and pay my bill before the due date HOW IS IT MY BILLS HAVE NOT BEEN PAID?!?
The service people have been understanding even the 2 supervisors have been very nice BUT they have not fixed their issues. I found out today that 2 more of my bills are either overdue or simple have not processed.
******UNACCEPTABLE!!!****** I CANNOT BELIEVE THIS HAS HAPPENED!
My husband and I both have Navy FED. I will never use them again for anything! Once our car and credit card are payed off with them I will be closing all accounts and ties with them!! They will take money out of one or the others account to put it in the over drawn account with out any permission or notice! They are rude and disrespectful people. Please be aware of them before you sign your life over to them!!!
I can't believe that this company will not accept veterns due to their short term. You must be active or retired from military. So too bad for our troops that come back with missing arms and legs. They are discriminated against. So tell me how a guy coming back disabled can possibly continue their career when they are disabled?
Just a tyical bank using Navy in it's name trying to pretend they care about our military.
Anyone else noticing the trend here? Two people love NFCU. One of them has financed a bunch of houses through them, and the other one has opened both a Roth IRA and a regular IRA through them. This puts both of them firmly into the highest-5%-of-income category.
Everyone else here, including me, has had awful experiences with NFCU.
This doesn't make NFCU any different than any other big bank (most of which are a little indicator on the computer screen of the representative you're talking to that lights up if you have more than $50k of assets in the bank, at which point they're supposed to ACTUALLY help you instead of just getting you off the phone as quickly as possible), but credit unions aren't supposed to be like that.
My house is in escrow and Navy Federal locked my accounts from any transfers after only 18 days late. I have made numerous early payments, and extra payments, my credit score is above 800. They don't care that the house is in escrow, they just want the interest payment, in fact they will take it out themselves if the funds are available from your or any other linked family member account!
Don't borrow from them!!!!
Been a member since 1987 but didn't start using them for routine banking until the mid-90's.
Recommend the CDs which generally rate better than commercial banks. The complaints about rude tellers or incompetence are individual issues, not an institutional one - IMHO. In agreement however, I have never and sat down and discussed extensive financial matters with an NFCU employee, and probably never will, but for routine day to day banking and credit, has worked fine for me. Until now.
As we become a cashless society, using credit and debit cards most of the time, you need to monitor the market, and in this regard and unfortunately, NFCU has not stayed up on trends.
I've asked twice, once recently, for consideration on absorbing the 1% of purchase amount for foreign currency Visa transactions for those living long term or stationed overseas. Rebuffed again. It's a Visa charge not an NFCU charge, which I agree with, even though the name has changed at least 2 times in the past years, now it's "International Service Fee" I think. Put lipstick on a pig, it's still a pig.
Truth is, there are other options out there that do absorb this pesky foreign currency transaction charge, also reimburse foreign ATM charges which can range from 1 to 6 dollars extra, and offer a higher cash back % on top of all that, which together, beats the pants off NFCU. The key is not carrying a large balance as the APR is a tad higher than NFCU. One nice feature on one or two I've found and applied for today, is the foreign ATM charges are reimbursed immediately, which keeps the money in our pockets, where it belongs, and easier to track on statements.
NFCU does refund their own extra $1.00 non-NFCU ATM fee (up to $20/month I think), but only if you use the right foreign ATM. Unfortunately, you must wait for the end of the month to get all your $1.00 charges back and you have to go back and figure out which ones applied to which ATMs, instead of rebating the $1.00 right away. A bit cumbersome for the customer to track.
So, be wary and know what you are in for when you swipe that NFCU Visa credit or Visa debit card (or any card) overseas or stick it in the ATM. Bear in mind, local ATM fees may be added to the overall withdraw amount also in foreign currency, thus you get the 1% charge on that whole amount, and then keep in mind, the Visa (and MasterCard) foreign exhange rate is always a tad below the international rate, so you hand over more money on that as well. If you are in a country where there is no NFCU branch, they you are pretty much out of luck and in for it at the end of the month.
Other institutions are pulling ahead by paying attention to their customers with these extra touches in service and convenience. A dead art that will only be brought back into fashion through competition and that will only happen if consumers wake up and remind businesses of the "customer - provider" relationship, which has become retardedly reversed in the past 5 to 10 years. The only thing business will respond to is loss of revenue and market share, and once they do, will dress it up to make it seem like they are doing you favor.
Don't be cowed, be smart, do a little research on-line and don't be afraid (or lazy) to change things up to save your money, or at least not give it away for nothing if you can help it. Personally, I would be happy to keep everything in NFCU, but am not going to foolishly give away hundreds of dollars if there is a better option.
My husband has been a member of Navy Federal since he joined the Navy in 2005 and I have had accounts there since we married in 2008. They used to be great, but in the last 18 months or so, things have taken a severe turn for the worse.
Here are the cons:
* Customer service is a nightmare. Rude, rude, rude and rude. They will actually argue with you, take "notes" for your account (which are never there when you have to call again), act like you are an idiot when you call and then will try to sell you something! Everytime I call, I'm told I'm not a full member - I guess the checking account, credit card, debit card, car loans and savings account with my name on it are not enough... They all say the same thing, too - "If your husband dies, we will lock you out of the accounts because you don't have a seperate account from him." Excuse me?!?! Beyond the error of the statement since the accounts are JOINT, nice customer service to a military spouse. Considering this is NAVY Federal Credit Union, and sea duty can be 50% or more of a sailor's career and they (along with every other branch) are in hotzones, this is just great customer service, ya know? Thank you for reminding me of the dangers of my husband's job. Not like I simply forgot...
* Simple issues like changing an address take forever to fix and usually need to be done online and on the phone for it to stick. Also, if you have a joint account, everything is linked for payments, but not personal information, so you have to log in to 2 seperate accounts and more than likely, make 2 seperate phone calls to just change an address. As a military related institution, whose members change addresses quite frequently, this is just absurd.
* Paperwork is sent to different places for the same loan. For example, car titles go to Pennsylvania, but all of the loan paperwork is sent to Virginia, hence the common complaint of titles being lost that you'll find on the web. We've purchased 2 cars with loans from Navy Federal and the paperwork seems to be very confusing for the car dealer and add an extra layer of hassle to an already frustrating experience. This has happened at 2 different dealers in 2 different states.
* They will freeze your debit card with no warning. Imagine how fun that is on a payday at the commissary and your debit card does not work! Sometimes they don't even have an idea as to why it was frozen and will gladly unfreeze it, but still... And, good luck if you need a new card because of a legitimate security issue. When VISA had its issues with security breaches a few years ago, Navy Federal's policy was freeze first, then wait to see if the customer calls to send out a new card. It took multiple phone calls to find out why our cards were not working and then after being assured that new cards were in the mail, they never processed the order for the new cards! Something that should've taken a few business days to correct took almost 2 weeks! Thank goodness we were in San Diego which has branches everywhere, unlike other stations where there is 1 branch 30 minutes away so we at least had access to our money. Other institutions we have belonged to will freeze the card, call/email/send smoke signals/etc.. to inform you of the problem and will have a new card to you with in 3 or 4 business days... it just doesn't work that way with Navy Federal.
* Their mortgage center is either severly understaffed or incompetent. It took 8 weeks for them to acknowledge our application and that was after we had to move heaven and earth to rescind it since we went with another lender. We had a representative call 2 weeks after we closed on our house to start the mortgage process. When informed that we had already closed, she offered to refinance for us! Umm.. no thanks.
* They have good rates. The same rates can be found elsewhere, however.
* The branches are superb. Yes there can be a wait, but they are always courteous, quick as they can be and make sure you leave happy. I think the longest I've ever waited in line was 30 minutes and considering that was a payday, not too bad. For those who complain about the lines at the bank, try a Bank of America or other large bank on a payday afternoon, the wait is comparable or longer.
* Perks with discounts & member only services. They have discounts on tax software and occasionally on shopping items. The member only services are nice - their home center is very helpful with checklists to compare realtors & houses when looking to buy. They will even refer you to a realtor and if you close with that realtor, you receive money back. You don't have to have a mortgage with them to qualify.
Overall, the experience with Navy Federal is hit and miss. The perks are nice, but for us, the hassles of everyday banking are just too much. Most of our major issues began as they expanded to include all branches of the military & DOD personnel. Maybe they grew too fast and haven't been able to properly train people, hence all of the incompentcy that is encountered online & over the phone. Maybe they don't care. And that is why we are looking at other options for our money.
I overnighted checks for a Traditional and Roth IRA. I had the credit union send me the applications. I called and had them review my paperwork before sending it to them. I also forwarded instructions with my intent for each check.
The CD's did not get done for a 2-3 days but each was back dated to the date they received the checks. I was able to call to verify the account numbers and all the specifics the day after they were completed. I will receive verification of all information including beneficiaries for my files. After reading the reviews on this blog I was a little apprehensive but so far everything has been smooth.
I like that I can take out the RMD with no penalty, take out money for a conversion with no penalty and actually take out more than the required RMD with no penalty.
Navy Federal Credit Union used to be a good Credit Union when I first started banking in 2003. If I am late on my credit card by a day they charge a fee and then take out money from any account available including my 4 year old daughters account.
Times have gotten tough for my wife and myself Navy Federal doesn't care they money from any account available. My wife still has an account with them for one withdrawl that has not been adjusted. They have regularly taken money out of her account causing her charges from the other bank.
After I was less then 30 days late on a credit account (130.00) they threatened to repossess our car, another loan through them.
The Customer Service is hostile and will hang up on you if they dont agree with you.
Bottom line.. if you have eligibility with this bank.. dont go there.. use USAA instead.
Navy Federal used to set the bar for financial institutions, but in the last two years their customer service reps are increasingly hostile (including their supervisors), their credit card service has become onerous, and their online banking has gotten worse. I am asked to renew security questions almost every time I log on.
The last time I had to call them to allow a Visa Check charge to go through they asked me where I lived in 1993. Honestly? Who does that?
Navy Fed appears to be run now by the same government hacks that brought you the joy of NMCI and other government IT blunders. Recommend you go elsewhere.
Recently, I bought my first home in Edmonds, WA. My father served in the Navy for many years which is why he's been a huge fan of their products and services. After doing some due diligence in searching for mortgage rates, NFCU does have very competitive rates. However, I am most disappointed that the fees and the process wasn't explained to me very thoroughly especially since this was my first experience in buying a home. I only worked with 2 different people, but if they represented the customer service department as a whole, they did a terrible job. I felt that I was doing their work for them and I definitely did not feel I was treated correctly especially after they took my money towards the loan origination fee. I would still use them again, because despite the poor service, their fees are good and their rates are very competitive. For me, I'm willing to go through the hassle to save a buck. Hopefully, my second experience wont be so bad and I just had a small round of bad luck.
I love Navy Federal. I have financed three homes with them, and have done in over the phone! They have the most stream-lined paperwork ever. They have me enrolled in online check deposit - I enter my check information online, and it is automatically credited to my account. I then have 7 days to mail the check to the bank in a pre-paid envelope - very handy as I don't live close to a branch. When my son needed a car loan (with no credit history) they pre-approved him for $3000.00 - plenty to buy a car, but not enough to get into trouble. They also gave my son his first credit card, that has cash rewards! His credit card pays him. They have great rates on savings, and frequent special rates on CDs with interest much higher than average. I really think Navy Fed is the best credit union ever. They have my business for life!
I have been a member of Navy Federal Credit Union for a little over 13 years now and I have to say that they are not exactly the most competitive credit union out there. First of all, I have read other reviews stating that Navy Federal will freeze all accounts connected to them in the event that there is a late payment received. I can tell you from my personal experience that it is true. I once paid my credit card a couple of days late, and I was unable to withdraw money from my account. What an inconvenience! Navy Federal Credit Union brags about being one of the biggest credit unions in America. Well, big deal! I have experienced better credit card services from USAA. I would highly recommend USAA banking over that of Navy Federal Credit Union. I will soon be switching to USAA myself. The customer service reps at Navy Federal are friendly; however, it is not enough to keep me as a customer. I hope this helps someone in making a decision on what is best for their money.
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.
NFCU has very unfriendly customer service representatives and I believe that I need to warn Military personnel and Civilians about this bank. Recently, I had a family emergency and for the 1st time ever, in five years, I am about 4 days late on a credit card payment. I told NFCU rep. that I would make my payment on Jan 15th, 2011. Well they froze my checking and savings accounts so now I cannot even put gas in my car. This never ever happened to me with any bank in 29 years. I am 49. If you are even one day late due to emergency, business trip, military deployment,etc., I promise they have the right to freeze your other accounts. I am going to pay off that credit card and move my business elsewhere. 2nd, after reading several complaints online, I just found out that if you have for example, a mortgage and a car loan and you are, for example, late on your mortgage, maybe 60 days, they can repo your car, EVEN IF YOU NEVER MISSED A CAR PAYMENT, ALL OF YOUR ACCOUNTS ARE TIED TOGETHER. BEWARE!!!!!!!!!!!!!!!!