Banks: Navy Federal CU vs Civilian Banks?

[Rento_VW]

So like... I have a Navy Federal Credit Union Bank account and I was wondering what makes it better than Civilian Banks such as WaMu, BofA, Wells Fargo, Citigroup, Prudential, etc.

I mean I haven;t done any specific research, mainly because I have no damned clue on what to look for... And all the terminology is confusing me lol... :confused:

But yeah.. Only that I spotted was the $1,000 limit Credit Card... My buddy who has Wachovia has a VISA Platinum w/ a $300 limit... Another one has a Capital One MasterCard Platinum with a $500 limit. So i'm guessing there's something about Navy Fed that's cool...

I dunno, Navy guys chime in, I know there's a few of you... And I'm not sure if Marines use Navy Fed, but if ya do, chime in too.

Enlighten me on why I should travel 30 mins to my nearest NFCU over the WaMu that's right next to my office...

[TOYr32]

I had Navy Fed, Marine West, Mission Fed, and now BofA.

I think Navy Fed had the best customer service, little fees . . . and when it somes to loans of any kind, you're gonna get the best rates through them, usually . . . I don't know about now, with the economy the way it is, rates are pretty competitive so it may not be better now, but it will never be worst!

WHen it comes to having more that one account, and having to do a lot of billing, I think BofA is much better, and fit my needs more that Navy Fed.

[jr_scheiBe]

NFCU has experience with the military so they are going to work a lil harder for you. I have multilple accounts (nfcu, us bank, capital one...) and for bills and things of that nature civ banks seem to be better imo. NFCU gives comparable rates on loans when credit isnt that great (good for the first timers).

the UI on internet banking is much better on US Bank vs NFCU and purchases can be tracked better IMO.

I say run both.

[PhätTony]

NFCU

-Cust service great
-Credit card limit depending on your credit and how much you make ($5000)
-Availability.......SUCKS! (if your not by a base)

[Hairball_2275]

I had Navy Fed, Marine West, Mission Fed, and now BofA.

I think Navy Fed had the best customer service, little fees . . . and when it somes to loans of any kind, you're gonna get the best rates through them, usually . . . I don't know about now, with the economy the way it is, rates are pretty competitive so it may not be better now, but it will never be worst!

WHen it comes to having more that one account, and having to do a lot of billing, I think BofA is much better, and fit my needs more that Navy Fed.

I definitely agree that the loan rates are great. The patterning of programs to meet the specific problems for Navy people is great. I have had great customer service, and the fees are real low.

On the flip side, I only use Navy fed for a savings account. My primary banking is through wells fargo, which I have been using for many more years than I have been in the Navy. As for if I would abandon WF and go with navy fed only, I doubt it.

[Hairball_2275]

NFCU
-Availability.......SUCKS! (if your not by a base)

:tup:

They have gotten better with the ATM accessibility and some online banking, but if you are deployed, TAD, or at a precom det, good luck getting anything done. Most significant downside to NFCU.

[Rento_VW]

Cool thanks guys. I was just wondering since I already have a bank account but it has no savings or checking account, just some two weird things. I was going to open up a savings and e-checking account and get the VISA check card.

I think i'll just stick to NFCU, as you've said, their loan rates are usually the best, which I have seen when my parents buy furniture and the cars they own now. Usually NFCU would be the better pick in those situations.

So yep, thanks again.

Oh, also, if you go on the NFCU site they list the types of ATMs that are free to withdraw money and have a locater... Oddly there is about 15 ATMs I would be able to draw for free in Hemet, about 2-3 of them are w/in a 2 mile radius.

Plus, I do live fairly far north, however, about a year ago, they just built a NFCU office in Temecula, which I go there about once a week anyway since that's the only fun place to go that isn't TOO far. Since it's on the way down to the center of Temecula, I can always stop by there.

[GTiGirl]

NFCU Por Vida!!!!!!!!!!!!!!!!!!!!!!

Literally, got my first account in infancy and currently have my checking, savings, MMSA, IRA, car loan (x2 currently, x6 lifetime), and soon life insurance through them.

[PhätTony]

:tup:

They have gotten better with the ATM accessibility and some online banking, but if you are deployed, TAD, or at a precom det, good luck getting anything done. Most significant downside to NFCU.

That's not it, what I'm talking about is living in Los Angeles or Inland Empire or anywhere besides SD or Port Hueneme

[zRockstar]

Wait until you want to finance a car, then you will see the difference. Navy FCU rates rock.

[Rento_VW]

Wait until you want to finance a car, then you will see the difference. Navy FCU rates rock.

I don't ever want a car other than a Corrado, if I buy another car, it'll damned well be something along the lines of Lotus Exige S or Cup edition or Audi (R)S5 or RS4. Anything else (read: cheaper), I may as well get another Corrado, do a AWD swap with a TDI and call it a day.

Till than, i'm fine fixing stuff on my current Corrado for it's whole life.

[TOYr32]

NFCU


-Availability.......SUCKS! (if your not by a base)

Navy fed is like most credit union, meaning it's a Co-Op . . . you can then go into any co-op credit union and do banking with them. When I moved up here, Mission fed said I could deposit and withdraw at any co-op bank as if it were a Mission fed. No fees, or service charges.

Besides, no penalties for having multiple banks. If need be, which I wish I had done, keep the minimum amount in your checking account to keep it open and then bank with someone else. Just keep them on the backburner for better loan rates.