ExclusiveIs Navy Federal Credit Union

Is Navy Federal Credit Union


Drawbacks Of Navy Federal Credit Union Platinum Card

More Than A Name | Navy Federal Credit Union

There are two major downsides of this card, the first being a lack of any rewards. By contrast, there are many cards that offer 0% APR on purchases, balance transfers or both for more than a year, and still offer rewards and spending once the intro period ends.

For example, the Wells Fargo Active Cash Card offers a flat 2% back on everything you buy, with a 0% APR on both purchases and balance transfers for 15 months .

The second downside of this card is the membership requirement for approval. You must belong to Navy Federal Credit Union to be approved for this card, which requires military membership or affiliation. You may join Navy Federal if youre active duty military, retired military, a veteran or an eligible family member of an existing member. You may also be able to join if youre a civilian and work for the Department of Defense.

Deputy Director Resourses And Acquisition

1 year 3 months


Directed the integration of a comprehensive portfolio including Service, Defense Agency and Intelligence community programs to include major platforms, electronic warfare, C4I, space and readiness programs. Drove prioritizing of near term maintenance and operations with longer term capital intensive investments across the Military Departments to maximize real returns. Responsible for program and budget analysis, acquisition and technology development. Guided the Joint Chiefs

Directed the integration of a comprehensive portfolio including Service, Defense Agency and Intelligence community programs to include major platforms, electronic warfare, C4I, space and readiness programs. Drove prioritizing of near term maintenance and operations with longer term capital intensive investments across the Military Departments to maximize real returns. Responsible for program and budget analysis, acquisition and technology development. Guided the Joint Chiefs of Staff to embrace restructuring the military pay, health care and total compensation system to improve career incentives and affordability. Co-chaired executive level acquisition decision forums approving major acquisition program milestones.

  • Served on the Membership Committee and Supervisory Committee.

  • Navy Federal Personal Loan Review

    Navy Federal personal loans offer some of the best rates on the market, with APRs ranging from 7.49% to 18.00%. On top of that, Navy Federal offers both small and large loans, with $250 to $50,000 in funding available. These loans are fee-free, too. The main drawback to Navy Federal personal loans is that you can only apply for them if you are an NFCU member. Youre eligible if youve served in the military or if a family member has served . Department of Defense personnel and their families are also eligible.

    Don’t Miss: Does Sears Give Military Discount On Appliances

    Nfcu Loans And Credit Cards

    • Home Equity Loans
    • Motorcycle, Boat & Leisure Vehicles

    Navy Federal credit card options are typical of what you might expect from any credit card program rewards, cash back options, and variable APRs. What makes these cards different than some commercial cards?

    No annual fees. There are three levels of credit card service with the lowest interest rates reserved for those who qualify for the NFCU Platinum card.

    Auto loans are offered for both new and used vehicles, and there is also a refinance option. What some military members may be interested in here? Motorcycle, boat, and leisure vehicle loans.

    Why are these NFCU loans particularly helpful? Because some military members and veterans find out the hard way that VA mortgage loans are not available for houseboats, Recreation Vehicles , campers, and other vehicles that can technically act as a dwelling but have no permanent foundation.

    A VA loan cannot be used to buy a house boat or RV because they cannot be classified or taxed as real estate. Thats where the NFCU Motorcycle, Boat & Leisure Vehicles loan comes in.

    And while were discussing VA mortgages, Navy Federal offers them in addition to some other home loan programs with similar features in some case . Home loan options include:

    Home loans arent the only lending choices you have. Navy Federal offers student loans with the following basic terms:

    Great App With Even Better Service

    Navy Federal Credit Union

    I use both Bank of America and NFCU, and NFCUs mobile app and overall customer support combined with integration with the app is completely seamless and eons ahead of BoA. The NFCU app has an extremely user friendly interface, and I love that it has direct links to customer service chat and call. Overall its security and banking-tech integration is fantastic. There was an example of a time I forgot my PIN to my card and after speaking with a representative she informed me that I was actually able to reset my PIN directly through the app. In comparison for BoA I can only reset my PIN by going in person to the bank during their working hours, which obviously poises a challenge for customers with 9-5 workdays. I am so impressed with the apps highly secure, detailed and user friendly interface. Even today when I went to make multiple payments to my credit card, it prompted me with a screen checking if I knew I was making multiple payments. I really appreciate developers high attention to detail and clear care to make NFCU customers experience using the app as positive, secure, accurate and responsive as possible. Thanks NFCU! Amazing service as always.

    Also Check: Aspergers Military Enlistment

    About Navy Federal Credit Union

    Navy Federal Credit Union was founded in 1933. While it began with just seven members, the credit union now serves nearly 10 million members across the globe. Its headquartered in Vienna, Virginia.The credit union primarily strives to support military members, veterans and their families. Membership is open to Department of Defense employees, retirees, veterans and active-duty service members in any branch of the armed forces.Members have access to credit cards, loans and deposit accounts in addition to special discounts and offers for their affiliation with the credit union.

    Other offers you may like

    The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products. Bankrate does not endorse or recommend any companies.

    Member FDIC

    Chief Real Estate Lending Officer At Nfcu

    Chief Real Estate Lending Officer for Navy Federal Credit Union in Vienna, Virginia. He and his team conceive and execute the strategies that position Navy Federal as a superior mortgage lender and one of the largest VA loan providers in the industry. He also oversees the teams responsible for the management of credit and risk, the production of loan documentation, proper funding and closing processes and loan servicing for real estate lending within the organization.

    You May Like: Does Aspergers Disqualify From Military

    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.

    I Remember I Went To The Dealership And

    Navy Federal Credit Union | 2021 Dollars for Doers

    I remember I went to the dealership and decided to take a look for a new car. After I convinced myself that I found one that I really liked the whole process started with the salesperson. I remember asking him if I could use Navy Federal as my lender but they run my credit with others lenders and came back with one lenders approval with a 11.64% APR. I noticed the payments were to high but since it was a new car I didnt put much attention until I started making the payments. Then after few months I saw the Financial Charges were even higher than my Paid Balance. That was when I decided to transfer my loan to Navy Federal having the certainty that theyd give me a better APR which it was a 3.99%. This was a great release. Its helping me a lot financially. I regret not to transfer my loan way before with Navy Federal. Thank you Navy Federal!

    Reply from Navy Federal Credit Union

    Thank you so much for your review, Chichi! We are so happy we could help with your refinance!Hayden, Navy Federal Social Care Team

    Also Check: Sears Memorial Day Military Discount

    Nfcu Checking & Savings

    Navy Federal account services include the following options:

    • Checking & Debit Card
    • Education Savings
    • Prepaid and Gift Cards

    All members have some form of free checking offered. There is an active duty free checking program, and similar options for students and for everyday checking uses.

    Those with Active Duty checking accounts are eligible to receive their direct deposit payment from the Defense Finance and Accounting Service a day early. The savings account options include retirement and education savings whatever your future financial needs might be in these areas, there are options.

    The retirement savings account features include Roth IRAs, Traditional IRAs, SEP accounts, and more. For education savings accounts, there are multiple choices including the Coverdell Education Savings Account and the 529 Plan.

    Chief Programming Budget And Analysis Division

    Joint Staff J8

    Serves in the planning, programming, and resource allocation for military force level requirements at the highest government level. Assists in the evaluation of the military force structure and economic aspects of the National Military Strategy and the related Future Year Defense Program. Advises the Chairman of the Joint Chiefs of Staff, in carrying out his responsibilities for advising the Secretary of Defense and the President on force program and resource issues.

    Also Check: Sears Senior Discount

    For Navy Federal Atms

    All deposits are subject to Navy Federal’s Funds Availability Policy. The first $225 after a cash or check deposit will be available immediately for cash withdrawals only. The remaining funds will be available by the second business day after the day we receive your deposit. Longer delays may apply in certain situations. Please see the Funds Availability Schedule for full details.

    How To Use Navy Federal Credit Union Platinum Card

    Navy Federal Credit Union

    If youre a Navy Federal member and eligible to apply, consider prequalifying before you submit a full application. This can help you get more information about what you qualify for before you undergo a hard credit check.

    To make the most of the Navy Federal Credit Union Platinum Card, youll want to use it for purchases you can afford to pay off. The low ongoing interest rate makes carrying revolving debt relatively affordable, but youll avoid debt altogether by only charging what you can pay down when your statement balance is due.

    If you plan to take advantage of the balance transfer offer, make your balance transfer request within 30 days of opening your account. Over the 0% introductory periods, put as much extra cash toward your debt as you can. After 12 months, your transferred debts will begin accruing interest at this cards regular variable interest rate.

    Also Check: Does Sears Have Military Discount

    Navy Federal Credit Union Personal Loan Review Highlights

    • : 7.49% – 18.00%
    • Loan sizes: $250 to $50,000
    • Payoff periods: Up to 60 months
    • : Not disclosed
    • Origination fee: None Other fees: $29
    • Reputation: NFCU scores an A+ with the Better Business Bureau, has few complaints filed against them with the CFPB, and has a 4/5 user rating.

    Overall, Navy Federal personal loans are a great option if youre eligible for membership in the credit union. Below, you can see how WalletHub rates Navy Federal in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.

    Navy Federal Credit Union Reviews

    The managers I have called for information have all been so helpful. And, they were Honest. Boy. Do I appreciate that!!Nancy

    Reply from Navy Federal Credit Union

    Hi, Nancy! We appreciate your review and kind words! Hayden, Navy Federal Social Care Team

    Great interest rate for credit cards these days. It’s the only one I use now.

    Reply from Navy Federal Credit Union

    Thank you for being part of our Navy Federal family, Paul! We appreciate you taking the time to share your feedback, and are glad to hear you are enjoying your card! We look forward to the next chance we have to assist you. Missy, Navy Federal Social Care Team

    Reply from Navy Federal Credit Union

    We appreciate your review, James. We’re glad to have you as part of our Navy Federal family, and we look forward to our next opportunity to serve you!Craig, Navy Federal Social Care Team

    NFCU is the absolute best! The benefits are so helpful in this time and they have been an asset for my family and new business! I am honored to bank with NFCU!

    Reply from Navy Federal Credit Union

    That’s what we love to hear, Tasha — thank you for sharing your feedback! We aim for world-class member experiences, and we’re so pleased to know you’ve had great experiences. We look forward to our next opportunity to serve you and your family!Craig, Navy Federal Social Care Team

    Also Check: Does Verizon Fios Offer Military Discount

    Navy Federal Credit Union Data Points

    Before we cover important data points that make all the difference with getting a NFCU card, its important to note that just like many other banks, you want to figure out a way into the eco-system so that could be a basic checking account, savings account, secured credit card or being added as an authorized user to someone else account.

    The biggest data point I can give you here is that Navy Federal works off of debt to income ratio , which is why you will see an 18 yr old kid with 0 credit file get approved for a $20k card as his first card and a grown adult with a job get approved for a $1k cash rewards.

    What Is Debt-to-Income Ratio?

    Your debt-to-income or DTI compares how much you owe each month to home much you make each month. Its the percentage of your gross monthly income that goes towards payments for rent, mortgage, credit cards and other debt. The accepted standard for a mortgage seems to be 43% or less, including Navy Federals mortgage program. Ideally, lenders prefer a debt-to-income ratio lower than 36%, with no more than 28% of that debt going towards servicing a mortgage or rent payment. You can read more directly on Navy Federals website here.

    Navy Federal Customer Service

    Wedding Dress | Navy Federal Credit Union

    Navy Federal members have access to a wide range of support options from the credit union. Phone support is available 24 hours a day, seven days a week, with options for domestic and international callers:

    • Domestic: 888-842-6328
    • International: 703-255-8837

    Other support options include chat, email, mail, and social media channels.

    Navy Federal does give members online and mobile access, which arent options at many credit unions. Members can check balances, make payments, transfer money, and order checks from almost anywhere.

    Recommended Reading: How To Get Military Records For Deceased Family Members

    How To Bank With Navy Federal Credit Union

    Unlike some other banks and credit unions, Navy Federal Credit Union isn’t open to everybody. As the name implies, it’s specifically designed for military service members, though membership extends beyond the Navy. All branches of the military are welcome, including ROTC members, reservists, veterans, annuitants, and members of the Delayed Entry Program.

    Certain civilians can join, as well, including Department of Defense contractors, U.S. government employees assigned to DoD installations, and retired DoD civilian employees.

    Those who are eligible to join extend membership eligibility to their family, including siblings, grandparents, grandchildren, and other members of the household. Once you know you’re eligible, opening a bank account with Navy Federal Credit Union is similar to any other banking institution. Just visit navyfederal.org or call 1-888-842-6328. Make sure to have personal information like your Social Security Number and a valid ID on hand.


    NFCU truly lives up to people’s expectations for credit unionsthey can beat traditional banks’ rates any day. The special accounts, rates, and discounts for military personnel that cater to their specific needs make it a no-brainer for those who qualify.


    Expansion In The 1990s

    NFCU ended 1990 with $4.6 billion in assets, and passed $8 billion in the mid-1990s. It operated 56 domestic branches and 26 overseas. The thrift dropped out of CUNA again after the trade group sued the federal government over a regulation . The Navy practice of loaning cash to its branches in Spain and Italy prompted an outcry over lending public money to a private institution. NFCU also operated about 200 automated teller machines all of them without a surcharge. It supported the Department of Defenses efforts to ban surcharges at all ATMs on military installations.

    Hughes retired in 1996, leaving command to Brian McDonnell, a 26-year NFCU veteran. NFCU spent $60 million to expand its headquarters as membership continued to grow. It approached two million in the late 1990s as assets topped $11 billion. Mortgage and equity loans doubled to $3 billion between 1997 and 1998.

    At the end of the century, NFCUs extensive Y2K compliance measures caught the attention of CNN. It had begun preparing in 1991 to accommodate substandard communications infrastructure in the countries where it did business. Its solutions incorporated redundant lines of communication, including cellular telephones, to keep in touch with its many far-flung branches.

    You May Like: Verizon Military Discounts

    Popular Articles

    What Military Branch Has The Best Benefits

    What Do Navy Seals Do Best...

    What Is The Army Reserve Age Limit

    Why Does The Military Impose Age Enlistment Restrictions ...

    How Do I Get Discharge Papers From The Army

    Who Can Make The Request Can...

    Is There A Certain Weight To Join The Army

    Getting Ready To Train Requirements to...

    Does Chilis Have A Military Discount

    Restaurants And Businesses That Will Offer Discounts And Free Items On Veterans...

    Can You Go Into The Army With Tattoos

    Piercing While Not In Uniform Tattoos...

    Must read

    You might also likeRELATED
    Recommended to you