Joining Navy Federal Credit Union Without Military Affiliation
January 10, 2017Keywords:
Navy Federal Credit Union is the largest credit union in the U.S. It primarily serves members with military affiliations. It often has great rates on CDs and loans. I read on DepositAccounts.com that there was a way for the general public to join . Because this opportunity for the general public can close at any time, I decided to join Navy Federal Credit Union now to get into the door.
Another Backdoor But It Doesnt Allow Everyone In
If youre not yet a Navy Fed member, you may still be able to join even though youre not in the military. In February, Navy Fed announced an expansion of its field of membership to include veterans and their families. If you have an immediate family member who has ever been in the military, you are eligible to join. Immediate family members include grandparents, parents, spouses, siblings, grandchildren, and children. Veterans and their family members can join via all channels however, if your veteran family member is not already a Navy Federal member, you have to apply by phone or at a branch. It cant be done online.
I have more details in this February blog post.
Re: How Can One Get Into Navy Federal Credit Union Without
Membership is open to:
- Active Duty members, reservists, veterans, retirees and annuitants of the Army, Marine Corps, Navy, Air Force and Coast Guard
- Army and Air National Guard personnel
- Delayed Entry Program personnel
- Department of Defense civilians
- U.S. government employees assigned to DoD installations
- contractors assigned to DoD installations
- family members of one of the above
- If you have an immediate family member who has joined or one whos eligible to join, you can become a Navy Federal member. Immediate family members include grandparents, parents, spouses, siblings, grandchildren, children and household members. Household members are defined as those who share your address and pay a major utility bill.
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Pay Your Way With Contactless Cards
Pay Your Way With Contactless Cards. With a contactless card, you can make payments with a tap of your card or add it to your mobile wallet. Just look for the contactless symbol at the register. Then tap your card at checkout. Its faster and easier than swiping or inserting, and its just as secure as a chip card. More than 75% of U.S. retailers accept contactless payments, from grocery stores to vending machines and even train stations but if you dont see the contactless symbol, you can still insert or swipe your card. Your contactless Navy Federal card gives you the flexibility to pay your way. Navy Federal Credit Union. Army. Marine Corps. Navy. Air Force. Coast Guard. Veterans. Our Members Are the Mission. Federally insured by NCUA.
When Will I Receive My Debit Card
If you open your checking account online or over the phone, well mail your debit card to the address listed on your application within 1 business day. Actual delivery of the card depends on postal service in your area. You can also open a checking account in a branch and receive your debit card while youre there.
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Newest Navy Federal Promotions Bonuses Offers And Coupons: December 2021
Navy Federal Federal Credit Union offers financial services for active and retired members of the military and certain government employees, plus their families. In the event youre considering joining the , check out its current promotions before you open a new account.
Banks regularly offer promotions to attract new customers. They really want your business and are willing to pay you hundreds if you open an account. You can use this cash to boost your savings a useful commodity in the current economy.
These promotions were picked because they represent the best Navy Federal bonuses currently available. Take a look you may just find one you cant pass up.
Senior Enlisted Reward Program: Up To $500 Bonus
The Senior Enlisted Reward Program lets you earn $100 for each new Senior NCO you refer to the credit union. Navy Federal coupons are not required for this bonus, but the people you refer must meet membership criteria and provide your access number when opening their new account. Heres more:
- Cash value: Up to $500
- Minimum deposit to qualify: $0
- Expiration date: None
- How to get it: Refer active duty National Guard and Reserves E-7 through E-9 for membership and earn $100 for each one who joins, up to a $500 total reward. The people you refer must mention the program and provide your access number when applying for membership for you to get credit.
- When youll get it: The bonus is deposited within 14 business days after the referred persons membership is approved.
- Terms and conditions: This offer is not available to recruiters. Referring members and referred individuals must be at least 18 years old. The referral fee is contingent on the referred individual qualifying for membership.
- Monthly fees: None
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Other Savings Options At Navy Federal Credit Union
In addition to a basic savings account and the higher-interest money market accounts, Navy Federal Credit Union offers share certificates, or CDs, for short-term and long-term savings. For shorter-term saving goals, like a down payment on a new car, there are CDs with terms as short as three months.
Finally, Navy Federal offers education savings accounts and traditional IRAs and Roth IRAs for retirement savers.
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Navy Federal Membership Eligibility How To Become An Nfcu Member
Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the authors alone. This article may contain links from our advertisers. For more information, please see our .
Navy Federal is one of the behemoths in the U.S. credit union landscape and is known for its commitment to serving those who serve and giving back to the military community. This article will help you to learn more about Navy Federals core offerings and differentiating features and help you understand if youre eligible for Navy Federal membership.
Request Your Federal Navy Credit Limit Increase With Donotpay
You are looking to increase your Navy Federal credit card limit, but you don’t know where to start? DoNotPay has you covered in six easy steps:
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Can You Join Navy Federal If You Are Not In The Military
Given Navy Federals 2008 expansion of membership eligibility criteria, it is certainly possible for civilians to become Navy Federal members. This is mainly achieved through relation to an existing member, or through employment as a U.S. government employee or a DoD contractor. Keep in mind that when applying, youll need to input certain information about your sponsor the existing member that youre using to gain membership on your application.
If you are an immediate family member of a current or former servicemember who is not a Navy Federal member, it is still possible to become a member however, youll need to furnish some documentation about your family members military service.
Nevertheless, all members can rest assured knowing that Navy Federal abides by a once a member, always a member principle, meaning that members of the credit union are never at risk of losing eligibility.
Navy Fed Ends A Backdoor Way To Qualify For Membership
Last December I reported on a little-known way to qualify for Navy Federal Credit Union membership. This backdoor to Navy Fed membership has been closed. The backdoor involved joining the Navy League, San Diego Council and then going through a special Navy Fed membership application process. This weekend I confirmed the closure of this backdoor with a Navy Fed membership service rep in an online chat session:
Ken: Can one join navy league of San Diego and become eligible to join NFCU?
Rep: Unfortunately, no. We had a membership change.
In December, I had speculated that this backdoor may not last. As the largest credit union in the nation, Navy Fed probably doesnt see the need to aggressively pursue new members. Theres little to gain with promoting a backdoor to membership, and theres a lot of potential bad publicity if the backdoor makes news.
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Welcome Letter And Online Banking
After another week, I received in the mail a welcome letter and another letter about how to access online banking. The welcome letter had my full Access Number. I used it to activate the debit card. The online banking instructions letter told me how to get the user name and temporary password for online banking.
After I put in my user name and temporary password in online banking, I was asked to change the password and choose the answer to a security question . So far so good, but after I did all that I got an error saying the system could not proceed. I figured maybe the system was having a temporary problem. When I tried again the next day I still received the same error.
Navy Federal Credit Union Q& a
Yes, Navy Federal does issue an American Express credit card: the Navy Federal Credit Union More Rewards American Express® Credit Card. The NFCU More Rewards Amex card has a $0 annual fee and offers 3 points / $1 spent at grocery stores and restaurants, including food delivery services. The card also gives 3 points / $1 spent on gas and transit expenses. All other purchases get 1 point / $1 spent. Plus, there’s an initial bonus of 25,000 points for spending $3,000 within the first 90 days of opening an account.
The More Rewards card is the only Navy Federal credit card on the American Express network right now. Navy Federal issues a number of other credit cards on the Visa and Mastercard networks.
Anyone considering a Navy Federal American Express, Mastercard or Visa card should bear in mind that you must qualify for Navy Federal Credit Union membership first, before you can apply for the card. Anyone connected to the U.S. Armed Forces or Department of Defense, including family members, may be considered for membership. You’ll also need at least good credit to have high odds of approval for the NFCU More Rewards Amex card itself.
You can request to do a Navy Federal balance transfer when you apply for any NFCU credit card. If you already have a Navy Federal card, you can make a transfer request through your online account. The Navy Federal balance transfer fee is 0%. The NFCU balance transfer APR could be as low as 0% or as high as 9.99% – 18% , depending on the card.
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Welcome Email And Debit Card
Within a week after I sent the paper application and the supporting documents by mail, I received a welcome email from Navy Federal Credit Union. Another few days later I received a debit card and a PIN mailer in separate mails. However, I wasnt able to activate the debit card because the activation system asked for an Access Number, which I didnt have.
The Access Number is similar to the membership number at other credit unions. The welcome email from Navy Federal showed a truncated Access Number. I couldve called customer service to get my full Access Number but I deliberately avoided calling. I just wanted to see what would happen if I didnt call.
Navy Federal Balance Transfers:
- Best balance transfer card: The Navy Federal Credit Union Platinum Credit Card offers 0% for 12 months on balance transfers. No other NFCU cards have 0% rates, but regular APRs range from 1.99% – 18% .
- Fees: No balance transfer fees.
- Timeline: It should take about two weeks for your Navy Federal balance transfer to be completed.
- Ways to request: You can ask for a balance transfer on the application for a new NFCU card. You can request one for an existing card online or through the mobile app.
- Information required: You need the account number for the balance you’re transferring, plus the name and address of that account’s issuer, along with the amount you want to transfer.
- How to request online: Sign in to your account. Click the Transfers tab. Click Make a Credit Card Balance Transfer at the bottom right. Fill in the required information. Submit your request.
- How to request in-app: In the Navy Federal Credit Union mobile app, go to Account Management, then Balance Transfer. Input the required information and submit your request.
If you do a Navy Federal balance transfer, be sure to continue making monthly payments to your old issuer if the due date comes up before your balance transfer is completed. Otherwise, you risk being marked as late. Any additional payments you make to your old issuer will be credited to your NFCU card once the transfer processes.
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About Navy Federal Credit Union
At the end of the Great Depression, a group of seven Navy Department employees founded Navy Federal Credit Union. Their goal was to create a place where they and their co-workers could save or borrow money and work toward individual financial goals. Today, credit union membership is open to members of all branches of the military.
Navy Federal Credit Union has more than 10 million members. The credit union has more than $148 billion in assets and 345 branches around the world.
Who Is Navy Federal Credit Union Best For
Navy Federal Credit Union is a full-service credit union offering a wide range of products and services. Its a good fit for customers who:
- Are part of the armed forces or related to someone who is a member
- Want a full-service credit union for all of their banking needs
- Are looking for simple bank accounts that earn interest
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What Is Navy Federal
Navy Federal Credit Union is the largest retail credit union in the world, with close to $127 billion in assets and membership reaching an impressive 9.2 million members in 2020. Founded in 1933 for Navy employees and headquartered in Vienna, Virginia, Navy Federal is a member-owned, not-for-profit credit union, meaning that it is effectively owned and operated by its participants. Income generated by Navy Federal is therefore re-invested into the enterprise to fund projects or services that can benefit its members.
In addition to its size, Navy Federal differentiates itself from other military-oriented banks and credit unions by placing a special emphasis on financial literacy through its MakingCents web portal and associated videos. Navy Federal also offers personal financial counseling, which is free and available to all members.
Who Is Eligible To Join Navy Federal
Navy Federal is committed to serving those who serve, which means that current and former members of the military are immediately eligible.
However, membership eligibility criteria have expanded significantly in the past two decades to include the following four groups:
- Active-Duty, Retired, & Veterans: This includes all Department of Defense and Coast Guard active-duty personnel, veterans and retirees, reservists, and those in officer candidate programs and Delayed Entry Programs.
- Immediate Family Members: This category includes parents, grandparents, spouses, siblings, children , grandchildren, and household members .
- Department of Defense Civilians: DoD civilian employees and retirees as well as U.S. government employees assigned to DoD installations and DoD contractors assigned to U.S. government installations are all eligible for membership. This includes employees of Select Employee Groups NAASCO and BAE .
- Minors: Existing members can pass on the gift of membership to children and grandchildren.
The key differentiator in Navy Federals membership program is that all prospective members must have some tie to the U.S. armed forces, either directly, through family, or through employment.
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How Do Repayments Work With Navy Federal Credit Union
Once you have your Navy Federal personal loan, keep up with monthly payments to avoid paying unnecessary fees. Missing even one payment can damage your credit score. Check out our budgeting guide if you want to learn how to budget your money and ensure your bills are paid on time.
Before you choose a lender, be sure to explore other loan options for military members.