Navy Federal Credit Union

Peyton18 | Jun 14, 2019 | 21 posts since 2019

My family has always done our banking with a highly rated credit union in our hometown. We have been very pampered by the excellent customer service that they provide. In four decades we have not had one complaint. We feel that rates are possibly going to start trending down. Our credit union does not offer 7 year CD’s. Yesterday we spoke briefly with a Navy Fed representative and she answered some questions for us. The nearest branch is over a four hour drive. Does anyone have an opinion they would like to share about their experience with Navy Federal concerning CD’s and IRA’s?

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Answers

DaveJ | Jun 16, 2019 | 40 posts since 2016

I have been a member for maybe 9 years.Best of 5 I have been a member of over last 20 years. Andrews is the worst and I can not recommend them. Phone customer service at NavyFed is first rate. In branch service is not far behind, but phone is best. You can join online and wire or ACH money in. The normal rate change is Mondays, so if rates stay the same on 7 year CD's tomorrow, you might have a week to get it all done. My nearest branch is 2 1/2 hours. They can change rates at any time. "Sometimes" phone reps know of future changes or end date of special. I just yesterday opened a 7 year Jumbo Regular CD online. They do have specials from time to time. Some of these are add-on with a $50 minimum and a large max, either 50k or 100k. A good way to lock in a home for maturing dollars or a place to put a IRA or CD that matures in a few weeks to months in future. HTH and good luck.

DaveJ | Jun 16, 2019 | 40 posts since 2016

Also, if you have substantial dollars to place, if married, both of you can join and you can each get a special when they are available.

Peyton18 | Jun 16, 2019 | 21 posts since 2019

Appreciate the response, very helpful!

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