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NFCU is open to everybody!?!


Konrad2012
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Does anyone know what the monthly mobile deposit limit is? I mean, once you can actually use it?

Bank of America is $50,000 monthly. It's one of the reasons our main household checking account is there.

Citi was something ridiculous like $3,000.

$10K per day.
So $280,000-$310,000 a month?

USAA can be $750,000 per month. :)

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I tried to read through all 50 pages but this is a giant thread, so please forgive me if this was already answered:

 

Looking at registering for Navy League, I see that the $25 membership fee is yearly, so wouldn't you sort of count this as an AF to 'stay' with NFCU?

 

Just trying to make sure I have all the facts before jumping in, and still am not sure which card of theirs would be a good choice.

No, once a member always a member. This is how most, if not all, credit unions operate.

Not true. You can close your accounts and terminate your membership.

 

I've gone through this FOAD process with most of the CUs I have joined, but there are a few stragglers left on the list.

and others have reported CUs that kicked them to the curb after BK.

Navy won't kick you to the curb completely, but they will make you wanna kick yourself to the curb.

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Does anyone know what the monthly mobile deposit limit is? I mean, once you can actually use it?

Bank of America is $50,000 monthly. It's one of the reasons our main household checking account is there.

Citi was something ridiculous like $3,000.

$10K per day.
So $280,000-$310,000 a month?
I imagine. I've never seen a monthly limit anywhere.
That would be great.
If you need a bank account with big deposit limits, you can also consider a free Ally checking account.

$50k/day.

$250k/rolling 30 days.

Free ACH pull and push.

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PenFed is the only CU I have that can pull money.

 

Interesting. I have 3 CUs, including Penfed, that allow me to pull money. I've never tried with any of the others. I wasn't even aware that this was a CU issue.

This being a CU issue was just my theory.

 

I have several checking accounts with traditional banks, as well as cash management accounts with various brokerages. All of them let me do ACH pushes AND pulls.

 

This is the first checking account I've encountered (or remember encountering) where you couldn't do a pull. It's baffling.

They also do not have same day wire transfers with guarantee of same day delivery.

 

You can do a wire transfer but it may take 48 hours. This is true for business accountd as well.

 

I know its off topic from ACH but its worth noting if you need to wire money.

 

I use BOA for my wire transfers. I think by far BOA is superior to almost all online banking portals. IMHO everyone must have a checking account with them. I was lucky to have the free e-checking grandfathered in.

 

For business its just $250 per month with the business debit card to avoid the monthly fee.

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Hmm. This is very tempting. Do you think it would be worth joining for someone with a very thin profile? Would it be worth the hard pull?

 

The only things on my credit report are my $2500 Citi with 0% utilization and an AU of $40k with 80% utilization.

 

I've been planning on waiting for applying for anything at all until the utilization was reduced on the AU but this is very tempting...

 

It sounds like I can either take one pull and join and just get a checking/savings or two pulls to apply for a credit card at the same time. Is this correct?

 

Here is a link to a thread with more details about my current situation if you want more details for some reason: https://creditboards.com/forums/index.php?showtopic=559531

Edited by tinfever6
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Hmm. This is very tempting. Do you think it would be worth joining for someone with a very thin profile? Would it be worth the hard pull?

 

The only things on my credit report are my $2500 Citi with 0% utilization and an AU of $40k with 80% utilization.

 

I've been planning on waiting for applying for anything at all until the utilization was reduced on the AU but this is very tempting...

 

It sounds like I can either take one pull and join and just get a checking/savings or two pulls to apply for a credit card at the same time. Is this correct?

 

Here is a link to a thread with more details about my current situation if you want more details for some reason: https://creditboards.com/forums/index.php?showtopic=559531

Jesus. I hope that AU account is 10 yrs old or something. Otherwise you have $32K of revolving debt and an overall utilization of over 75%.

 

But yes, this is perfect for your situation (NFCU, not that dead body AU account you're dragging around)

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Hmm. This is very tempting. Do you think it would be worth joining for someone with a very thin profile? Would it be worth the hard pull?

 

The only things on my credit report are my $2500 Citi with 0% utilization and an AU of $40k with 80% utilization.

 

I've been planning on waiting for applying for anything at all until the utilization was reduced on the AU but this is very tempting...

 

It sounds like I can either take one pull and join and just get a checking/savings or two pulls to apply for a credit card at the same time. Is this correct?

 

Here is a link to a thread with more details about my current situation if you want more details for some reason: https://creditboards.com/forums/index.php?showtopic=559531

 

I read your linked thread and I don't see how this AU account can possibly be helping your FICO 08 score?

 

Sure this AU account is 23 years old, (and changes your AAOA from 1 year to 12), BUT,,,, AAOA is only 15% of your score and Utilization is 30%.

 

80% Utilization on one account and 75% Global Utilization are HUGE score negatives, (far greater than the AAOA boost from 1 year to 12 years)?

 

The ONLY way this makes sense to me is if the scoring model gives you credit for the AAOA boost, (but ignores the debt for your scoring).

 

My understanding is that AU accounts work this way IF,,, the account reports as "Account Relationship Terminated".

 

Are you SURE your grandmother hasn't terminated your AU status with Chase?

 

On CCT look at Account Details/Ownership to be sure.

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The initial idea when being added as an AU on that card was that my grandmother usually pays it in full each month. Of course the several months that I've been on it, I have not seen this paid in full due to my grandmother letting another relative use that for some extra business funding until a new construction is done getting financed. (As unreliable as this might sound, I have full faith my relative will pay this off... at some point.)

 

For now I'm just benefiting from the AAOA I assume. I am 99% sure that nothing has been terminated regarding my AU status. My grandmother wouldn't do that without telling me and CCT still shows as an open, paid, and current AU. My scores as of this 3B report I just got from CCT are 755, 749, 760 for EX, TU, and EQ respectively.

 

Anything more about my personal situation should probably go in my thread so we don't drag this thread off topic.

 

I may have to strongly consider applying for NFCU. And I'll also accept any input on whether perhaps I should dump this AU if that's even possible.

Edited by tinfever6
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I just received my welcome email. My membership was activated one week ago.

 

My gender reassignment is still pending two business days after the third submission of IDs and other required docs.

 

I cannot ACH money into either of my accounts from their Web site, and mobile deposit access is blocked for the first 30 days of membership.

 

I have no ATM card, and I'm currently on a plane, on the way to spending 16 days in a city that has no branches.

 

They really don't want deposits.

 

Wait until you try to ACH funds into your NFCU savings. Then you will really be a happy camper. ;)

 

Navy considers savings accounts to be non-transactional and can -- and often does -- reject incoming ACH transfers. If you are lucky, the first time or two they will allow it, but send you a warning letter.

 

That's astonishingly awesome! Who'd want to put money INTO a savings account?

 

Well, actually, I for one will not keep any money in my NFCU savings account as long as the interest rate isn't competitive. Right now NFCU's savings rate (0.25%, or 0.40% if I open yet another account, a Money Market Savings Account) is 60-75% lower than my Barclays account pays.

 

Today is the fourth business day since I sent in my IDs and other supporting documentation for the third time, and their web site still greets me as "Mrs..."

 

More shades of awesome with this place every single day.

Edited by cv91915
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PenFed is the only CU I have that can pull money.

 

Interesting. I have 3 CUs, including Penfed, that allow me to pull money. I've never tried with any of the others. I wasn't even aware that this was a CU issue.

This being a CU issue was just my theory.

 

I have several checking accounts with traditional banks, as well as cash management accounts with various brokerages. All of them let me do ACH pushes AND pulls.

 

This is the first checking account I've encountered (or remember encountering) where you couldn't do a pull. It's baffling.

They also do not have same day wire transfers with guarantee of same day delivery.

 

You can do a wire transfer but it may take 48 hours. This is true for business accountd as well.

 

I know its off topic from ACH but its worth noting if you need to wire money.

 

I use BOA for my wire transfers. I think by far BOA is superior to almost all online banking portals. IMHO everyone must have a checking account with them. I was lucky to have the free e-checking grandfathered in.

 

For business its just $250 per month with the business debit card to avoid the monthly fee.

I've done 2 wire transfers and the funds were delivered within minutes.

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I tried to read through all 50 pages but this is a giant thread, so please forgive me if this was already answered:

 

Looking at registering for Navy League, I see that the $25 membership fee is yearly, so wouldn't you sort of count this as an AF to 'stay' with NFCU?

 

Just trying to make sure I have all the facts before jumping in, and still am not sure which card of theirs would be a good choice.

No, once a member always a member. This is how most, if not all, credit unions operate.

 

 

Not true. You can close your accounts and terminate your membership.

 

I've gone through this FOAD process with most of the CUs I have joined, but there are a few stragglers left on the list.

 

and others have reported CUs that kicked them to the curb after BK.

 

Not what I meant. I meant once your in you don't need to keep your Navy League membership active. Thats how pretty much all credit unions are. Same thing when you join credit unions where you need to live in certain cities or counties. if you move out of state or outside their area of eligiblity, you can still keep your credit union membership. Ill use this one as an example because it's local where I live. Need to live in certain Minnesota and Wisconsin counties. But once your a member, you can keep your membership even if you move out of state to Florida or whereever.

https://www.rcu.org/become-member

Or ones that are based on where you work. When you leave that job you still are free to keep your membership.

Edited by PizzaPowerPunch
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I tried to read through all 50 pages but this is a giant thread, so please forgive me if this was already answered:

 

Looking at registering for Navy League, I see that the $25 membership fee is yearly, so wouldn't you sort of count this as an AF to 'stay' with NFCU?

 

Just trying to make sure I have all the facts before jumping in, and still am not sure which card of theirs would be a good choice.

No, once a member always a member. This is how most, if not all, credit unions operate.

 

 

Not true. You can close your accounts and terminate your membership.

 

I've gone through this FOAD process with most of the CUs I have joined, but there are a few stragglers left on the list.

 

and others have reported CUs that kicked them to the curb after BK.

 

Not what I meant. I meant once your in you don't need to keep your Navy League membership active. Thats how pretty much all credit unions are. Same thing when you join credit unions where you need to live in certain cities or counties. if you move out of state or outside their area of eligiblity, you can still keep your credit union membership. Ill use this one as an example because it's local where I live. Need to live in certain Minnesota and Wisconsin counties. But once your a member, you can keep your membership even if you move out of state to Florida or whereever.

https://www.rcu.org/become-member

Or ones that are based on where you work. When you leave that job you still are free to keep your membership.

 

 

I was just trying to clarify that making a mistake and joining a horrible credit union doesn't have to be a life sentence, which one could infer from your statement.

 

Sometimes leaving a CU is like trying to get out of a cult. I still get "statement ready" email notifications from a local CU in California that I kicked to the curb over three years ago. They are also still reporting one of my TLs as open on Equifax.

 

Actually, maybe you were right. Maybe I'll never get out.

Edited by cv91915
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PenFed is the only CU I have that can pull money.

 

Interesting. I have 3 CUs, including Penfed, that allow me to pull money. I've never tried with any of the others. I wasn't even aware that this was a CU issue.

This being a CU issue was just my theory.

 

I have several checking accounts with traditional banks, as well as cash management accounts with various brokerages. All of them let me do ACH pushes AND pulls.

 

This is the first checking account I've encountered (or remember encountering) where you couldn't do a pull. It's baffling.

They also do not have same day wire transfers with guarantee of same day delivery.

 

You can do a wire transfer but it may take 48 hours. This is true for business accountd as well.

 

I know its off topic from ACH but its worth noting if you need to wire money.

 

I use BOA for my wire transfers. I think by far BOA is superior to almost all online banking portals. IMHO everyone must have a checking account with them. I was lucky to have the free e-checking grandfathered in.

 

For business its just $250 per month with the business debit card to avoid the monthly fee.

I've done 2 wire transfers and the funds were delivered within minutes.
Yeah they say its possible and they provide the service but not guaranteed. I believe their website or some other form of NFCU communications even said upto 24/48 hours for wire transfers.

 

I found it odd... But ultimately I didn't even bother with it because I didn't want to pay the fee and not have a guarantee like BOA or Chase if I make the cutoff.

 

My common sense says that if you do it before daily wire transfer cutoff that it should work. Your data point helps me for possible future needs.

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Sent my packet in on 6/21. Just got my Welcome to Navy Federal email today.

 

I wasn't going to push it, tried to call in, got a very nice, very clueless older gentleman but he couldn't help me.

 

I won't be applying for any credit products until the fall.

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Sent my packet in on 6/21. Just got my Welcome to Navy Federal email today.

 

I wasn't going to push it, tried to call in, got a very nice, very clueless older gentleman but he couldn't help me.

 

I won't be applying for any credit products until the fall.

That's funny. I also called and but I got a very nice, very clueless younger gentleman and he couldn't help me at all either.

 

I think CV is on to something....

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Sent my packet in on 6/21. Just got my Welcome to Navy Federal email today.

 

I wasn't going to push it, tried to call in, got a very nice, very clueless older gentleman but he couldn't help me.

 

I won't be applying for any credit products until the fall.

That's funny. I also called and but I got a very nice, very clueless younger gentleman and he couldn't help me at all either.

 

I think CV is on to something....

 

Well, the problem is that this is "kind of" a backdoor. Only one team can handle it, and their number isn't immediately accessible. I scanned everything into a single PDF document, and sent it off. Now that this is out of the way, I don't expect to have any issues.

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Sent my packet in on 6/21. Just got my Welcome to Navy Federal email today.

 

I wasn't going to push it, tried to call in, got a very nice, very clueless older gentleman but he couldn't help me.

 

I won't be applying for any credit products until the fall.

That's funny. I also called and but I got a very nice, very clueless younger gentleman and he couldn't help me at all either.

 

I think CV is on to something....

 

 

I genuinely don't want to dissuade anyone who is rebuilding from joining this CU. They've helped a lot of people in ways that would be very difficult to find elsewhere, and I would encourage people in that situation to endure some inconvenience so you can reap the benefits, which will pay dividends for years to come.

 

On the other hand, to anyone trying to peddle this place as the best at just about anything else, you need to look around and see what else out there. Your blind loyalty makes you look like a rube.

 

Steadily improving your credit and your financial situation constantly opens up new opportunities, and I challenge everyone to continue to aim higher every step of the way. Don't just settle for an eternity on the solution to a set of conditions and problems that overshadowed your life 10 years ago.

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Received my welcome email this morning. I had some issues setting up my online account because I had opted out of LexisNexis. I had to resubmit my photo ID and a signature sample,then I was able to log on and complete my security questions. The whole process from application to account set up took 4 days and was pretty painless. The customer service was outstanding, with the last rep staying on the phone with me until I was completely finished with my online account set up. I'm considering making NFCU my primary bank.

 

Thanks again to Konrad for the original post. You've really helped many in the CB community with this thread.

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Received my welcome email this morning. I had some issues setting up my online account because I had opted out of LexisNexis. I had to resubmit my photo ID and a signature sample,then I was able to log on and complete my security questions. The whole process from application to account set up took 4 days and was pretty painless. The customer service was outstanding, with the last rep staying on the phone with me until I was completely finished with my online account set up. I'm considering making NFCU my primary bank.

 

Thanks again to Konrad for the original post. You've really helped many in the CB community with this thread.

You and I apped about the same time, was wondering how it was going for you. Thanks for the update. I'm still waiting.

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I'm all set for awhile now I think.

 

Largest of Thanks to CB membership contributors here once again, and the originator(s) on this.

 

Another NFCU new member approval fully complete and it took all of about one full week due to our Independence Day Weekend.

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Thank you Konrad!

 

I *finally* got approved today. I first applied on June 21 and re-sent on June 23. I ended up making 4 phone calls, each with various suggestions of what I should do. I tried waiting patiently but I will admit I was getting frustrated. Today I got a rep who got me auto-approved through membership while on the phone.

 

It took a lot longer than I expected (and I followed the first post exactly) but it was worth it. I got an instant approval for $25K on CashRewarda card. This is my first ever 5-figure credit line. I honestly can't believe it. Now I just need to fund my account.

 

Thank you again!

Edited by FarmGirl76
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