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Certificate offer from NFCU


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9 replies to this topic

#1 credit_help

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Posted 20 April 2017 - 08:53 PM

I just got this offer in email from NFCU:



Earn a Bonus With Your New IRA
Time is running out to take advantage of these specials. You'll discover that a little bit goes a long a way when you start saving early.

• Open Your First IRA With Navy Federal: $50 bonus2
• Set Up Recurring Transfers on Your New IRA Certificate: $100 bonus.



Is this a good offer?
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#2 mec

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Posted 22 April 2017 - 03:48 PM

I took them up on it.

 

https://creditboards...howtopic=588419


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#3 cv91915

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Posted 22 April 2017 - 04:05 PM

I took them up on it.

 

https://creditboards...howtopic=588419

 

 

What type of investments are you going to hold in this account?  What do they charge for stock/ETF/mutual fund trades?  Is there an annual fee on the IRA?  Other fees?


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#4 mec

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Posted 22 April 2017 - 04:18 PM

It's just a 2% 17 month CD ($50-$50k) The phone rep told me they have an affiliate "Navy Financial" that can handle securities and fund purchases, but the credit union only offers certificates.

I expect I will stop contributing after the second portion of the bonus is credited and have the account transfered to Vanguard once the CD matures.

I don't think there is a fee but I forget to ask.
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#5 cv91915

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Posted 22 April 2017 - 04:23 PM

It's just a 2% 17 month CD ($50-$50k) The phone rep told me they have an affiliate "Navy Financial" that can handle securities and fund purchases, but the credit union only offers certificates.

I expect I will stop contributing after the second portion of the bonus is credited and have the account transfered to Vanguard once the CD matures.

I don't think there is a fee but I forget to ask.

 

I had a random IRA at WF [401(k)] rollover from an old job] and they started charging an AF of $45 or $50.  That was my prompt to roll it into my current 401(k).  

 

I hope you're fee-free on this.  


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#6 mec

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Posted 22 April 2017 - 04:36 PM

What is Wells Fargo giving you that keeps you banking there?
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#7 cv91915

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Posted 22 April 2017 - 04:44 PM

What is Wells Fargo giving you that keeps you banking there?

 

I have a free checking account that I keep because they have branches everywhere in Southern California.

 

TD also has a PMA relationship that he wants to keep because it's grandfathered with a bazilion free monthly brokerage trades that he never uses.  :P

 

Together we also have a joint credit card account that we keep open for age.  TD opened it when he came to the US in 2002, and I was added years later when I was building my credit...


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#8 mec

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Posted 22 April 2017 - 05:03 PM

I took them up on the $250 checking account bonus recently, partly because I have a 0% installment card that is down to $1,540 and I can use the checking account as a vehicle to pay that off, and partly because I hope to establish a relationship so I can get in on their 5x card for a few grand someday...

But not much about WF has ever made me feel happy.

They have no branches or ATMs anywhere around western PA, so that's a negative for me but it's not a deal breaker.

When I look at the way Wells does business compared with BofA (who also has no local presence here) I want to do more business with BofA but not with Wells.

I can see how unlimited free trades would be something you'd want to keep though. That's pretty crafty on Wells' part.

PS sorry about the hijack OP

Edited by mec, 22 April 2017 - 05:04 PM.

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#9 credit_help

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Posted 25 April 2017 - 02:29 AM

I took them up on the $250 checking account bonus recently, partly because I have a 0% installment card that is down to $1,540 and I can use the checking account as a vehicle to pay that off, and partly because I hope to establish a relationship so I can get in on their 5x card for a few grand someday...

But not much about WF has ever made me feel happy.

They have no branches or ATMs anywhere around western PA, so that's a negative for me but it's not a deal breaker.

When I look at the way Wells does business compared with BofA (who also has no local presence here) I want to do more business with BofA but not with Wells.

I can see how unlimited free trades would be something you'd want to keep though. That's pretty crafty on Wells' part.

PS sorry about the hijack OP

No problem mec. Doesn't WF have a feature to use external accounts to pay cards/loans?
I don't see cards of decent stature from WF. There are a couple of branches here.
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#10 mec

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Posted 25 April 2017 - 01:10 PM

I'm sure they do. I used to push payments to them from my PNC account and never had a problem. But I figured I could add ease of paying the Wells card from the Wells checking account to the list of reasons to take their $250.

 

I think I will keep the account on the back burner for a while until I have another use for it, but as I see it they offer nothing you can't get elsewhere except for the 5% / 6 month card.


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