Navy Federal Membership Referral $50 for each

Archived From: Finance
  • Page :
  • 1
  • Text Only
Voting History
rated:
This month, refer up to five eligible friends and family for membership, and when they join, you'll each get $50. Invite friends and family to join today by directing them to any of our options to apply for membership:  

https://www.navyfederal.org/membership-benefits/offers-discounts/september-rewards.php? 
 

Member Summary
Most Recent Posts
Yes, accounts for minors need to be opened in a branch. If there's a promo you're trying to do that has to be done onlin... (more)

jarfykk (Oct. 30, 2016 @ 7:29p) |

You might want to check again. I have many credit union accounts also and they all do a hard pull.  I have accounts with... (more)

Argyll (Oct. 31, 2016 @ 12:27a) |

I'm also a CU junkie... I'd say MOST CUs do a hard pull for deposit (debit) accounts. Some also pull Chex. Some certai... (more)

debentureboy (Oct. 31, 2016 @ 11:53a) |

Staff Summary
  • Also categorized in:
Thanks for visiting FatWallet.com. Join for free to remove this ad.

This seems like an appropriate place to remind everyone about the FWF Request a Referral thread: https://www.fatwallet.com/forums/deal-discussion/1364211

doveroftke said:   This seems like an appropriate place to remind everyone about the FWF Request a Referral thread: https://www.fatwallet.com/forums/deal-discussion/1364211
  
Well said dover

Referrals still need to be 'eligible' to join Navy FCU."If you have an immediate family member who has joined or one who is eligible to join, you can become a Navy Federal member. Immediate family members include grandparents, parents, spouses, siblings, grandchildren, children (including adopted and stepchildren) and household members.  In the application process, family and household members are referred to as "sponsors" (the person through whom you're eligible for membership)."


sloppy1 said:   Referrals still need to be 'eligible' to join Navy FCU."If you have an immediate family member who has joined or one who is eligible to join, you can become a Navy Federal member. Immediate family members include grandparents, parents, spouses, siblings, grandchildren, children (including adopted and stepchildren) and household members.  In the application process, family and household members are referred to as "sponsors" (the person through whom you're eligible for membership)."



  Thanks for this information.

sloppy1 said:   Referrals still need to be 'eligible' to join Navy FCU."If you have an immediate family member who has joined or one who is eligible to join, you can become a Navy Federal member. Immediate family members include grandparents, parents, spouses, siblings, grandchildren, children (including adopted and stepchildren) and household members.  In the application process, family and household members are referred to as "sponsors" (the person through whom you're eligible for membership)."



  You can join if you have some association with the military or the Defense Department. A relative does not have to be an NFCU member for you to join, i.e. if a parent was in the military, or a civilian DOD employee or retiree, a child is eligible to join whether the parent was an NFCU member or not.

Can I join by donating?
 

Spy111000 said:   Can I join by donating?
Maybe.

http://ficoforums.myfico.com/t5/Personal-Finance/Navy-Federal-CU...

This sounds like the beginnings of Wells Fargo issue...make phony accounts to get bonuses.

drew2money said:   This sounds like the beginnings of Wells Fargo issue...make phony accounts to get bonuses.
  This is exactly what credit unions do not do.  They exist to serve their customers, not profits or shareholders.

Join Navy League San Diego. Much discussion about this on some other boards.

What kind of benefits does Navy Federal offer? It seems like it is a lot of hoops to jump thru.

Argyll said:   
drew2money said:   This sounds like the beginnings of Wells Fargo issue...make phony accounts to get bonuses.
  This is exactly what credit unions do not do.  They exist to serve their customers, not profits or shareholders.

  The bigger ones are basically banks.

So does NFCU accept friends of members to join?!

EDIT: It seems only family of members can join, if you are not otherwise eligible. 

noelandres said:   So does NFCU accept friends of members to join?!

EDIT: It seems only family of members can join, if you are not otherwise eligible. 

  Read the post 3 posts above yours and click the link 3 posts above that.

Argyll said:   
BingBlangBlaow said:   
Argyll said:   
drew2money said:   This sounds like the beginnings of Wells Fargo issue...make phony accounts to get bonuses.
  This is exactly what credit unions do not do.  They exist to serve their customers, not profits or shareholders.

  The bigger ones are basically banks.

  They are quite clearly not banks,  a fact that annoys the banks, who lobby Congress to remove their tax exempt status, which status allows credit unions to operate as non-profits and give better rates to members.  "Not-for-profit" means that any profits must be used for the purposes of the organization, in this case the members.  There are no such restrictions on banks, which by their very nature are not designed to benefit the customer, but to get money from them.

  I know what a credit union is. I've worked at one and I've accounts at several.

In the context of drew's post, they can have many similarities. Pressures/rewards/incentives to open new accounts. Cold calling members to offer new accounts. Incentives in general. I'm referring more to the employment aspects than the membership/customer aspect.

I opened an account for each of my kids -- $50 for them, $50 for me. I've been meaning to open each of them a savings account for a while and I'm glad my son brought it up again while the promotion was on! I love NFCU, great service, great rates, they portfolio all of their mortgages, they will do a jumbo mortgage at 0% down, their app is great, etc... nothing but good things to say.

[I've never done their 0% down jumbo but considered it for the sole purpose of buying a new house and then having time to sell my old house afterwards and then paying down my loan with the equity from my first house, kind of a nice feature in a hot housing market when you want to buy a house without any contingencies.]

ltcm said:   I opened an account for each of my kids -- $50 for them, $50 for me. I've been meaning to open each of them a savings account for a while and I'm glad my son brought it up again while the promotion was on! I love NFCU, great service, great rates, they portfolio all of their mortgages, they will do a jumbo mortgage at 0% down, their app is great, etc... nothing but good things to say.

[I've never done their 0% down jumbo but considered it for the sole purpose of buying a new house and then having time to sell my old house afterwards and then paying down my loan with the equity from my first house, kind of a nice feature in a hot housing market when you want to buy a house without any contingencies.]

  
Did you have to open the minor accounts in-branch?

DPG said:   
ltcm said:   I opened an account for each of my kids -- $50 for them, $50 for me. I've been meaning to open each of them a savings account for a while and I'm glad my son brought it up again while the promotion was on! I love NFCU, great service, great rates, they portfolio all of their mortgages, they will do a jumbo mortgage at 0% down, their app is great, etc... nothing but good things to say.

[I've never done their 0% down jumbo but considered it for the sole purpose of buying a new house and then having time to sell my old house afterwards and then paying down my loan with the equity from my first house, kind of a nice feature in a hot housing market when you want to buy a house without any contingencies.]

  
Did you have to open the minor accounts in-branch?

  

Not sure if you have to, but I did.  I stopped by there to use the coin-counting machine and my son mentioned opening an account.  I inquired and they told me about the promotion... took about 30 minutes total.

FYI: A hard credit pull was part of me opening an account.

ImperialMatt said:   FYI: A hard credit pull was part of me opening an account.
 

  It always is.  This is the case for every credit union. Credit Unions are membership organizations. You are, in effect, a co-owner who holds a share in a savings account.

Argyll said:   
ImperialMatt said:   FYI: A hard credit pull was part of me opening an account.
  It always is.  This is the case for every credit union. Credit Unions are membership organizations. You are, in effect, a co-owner who holds a share in a savings account.

  
No, it isn't. I have accounts with many credit unions that did not require a hard pull to open.

ltcm said:   
DPG said:   
ltcm said:   I opened an account for each of my kids -- $50 for them, $50 for me. I've been meaning to open each of them a savings account for a while and I'm glad my son brought it up again while the promotion was on! I love NFCU, great service, great rates, they portfolio all of their mortgages, they will do a jumbo mortgage at 0% down, their app is great, etc... nothing but good things to say.

[I've never done their 0% down jumbo but considered it for the sole purpose of buying a new house and then having time to sell my old house afterwards and then paying down my loan with the equity from my first house, kind of a nice feature in a hot housing market when you want to buy a house without any contingencies.]

  
Did you have to open the minor accounts in-branch?

  

Not sure if you have to, but I did.  I stopped by there to use the coin-counting machine and my son mentioned opening an account.  I inquired and they told me about the promotion... took about 30 minutes total.

  
Yes, accounts for minors need to be opened in a branch. If there's a promo you're trying to do that has to be done online, they will honor it for minor accounts opened in branch (what I did last time). Just noted on account when opening and didn't even need to follow-up with customer service (the branch wasn't sure if I would need to or not).

DPG said:   
Argyll said:   
ImperialMatt said:   FYI: A hard credit pull was part of me opening an account.
  It always is.  This is the case for every credit union. Credit Unions are membership organizations. You are, in effect, a co-owner who holds a share in a savings account.

  
No, it isn't. I have accounts with many credit unions that did not require a hard pull to open.

  You might want to check again. I have many credit union accounts also and they all do a hard pull.  I have accounts with more than a dozen right now and have had even more. Every one says they do a hard pull because that is the policy for new members.    

I'm also a CU junkie... I'd say MOST CUs do a hard pull for deposit (debit) accounts. Some also pull Chex. Some certainly SAID they do a hard pull and then end up not doing it.

Most banks pull Chex for a debit account but not a hard credit pull. Some banks pull both or do a hard credit pull and some other Chex-like pull or just a Chex-like pull.

Absolutes rarely exist (all, none). I have real examples of the above over the years -- tracking with MyFICO and periodic Chex reports and making the assumption that some banks that didn't pull my Chex report pulled a Chex look-alike.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017