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Joining the San Diego Navy League Closed as a Method to Join Navy Federal Credit Union

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I found this string on CreditBoards. Apparently this method for joining NFCU has just ended:

https://creditboards.com/forums/index.php?showtopic=593109&page=...

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The VA funding fee is waived though if you have any service connected disability %. 

I personally used both PenFed and Na... (more)

griffeycom (May. 16, 2017 @ 5:06a) |

Yep. Just joined yesterday. My brother is active duty Air Force (currently in Jalalabad) and isn't a member of NFCU.

shitrus (May. 17, 2017 @ 9:56a) |

I just joined the navy league a ew days ago. Bummer

tedteddy (May. 25, 2017 @ 1:04p) |

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rated:
Good update, but - the info. about this method of joining was certainly out there for plenty of time, in many locations including DepositAccounts.com.  If people did not take action, they really have only themselves to blame...

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DepositAccounts.com Effect strikes again!

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Very tough situation for persons not already on the inside who hoped to become a member.  I joined last fall this way.  Certainly am glad I did.

I'm not saying the OP is in error.  I believe the OP.  Am just posting the following for information:

When I did my research early last fall, prior to joining, I discovered internet postings by existing NFCU member malcontents intended purposefully to mislead.  People were posting lies back then saying the SD chapter doorway either was closed or did not work.  Again, this was last fall, many weeks before Ken's post here

Linky 

doubtlessly brought in hordes of new members through the SD council of the Navy League . . . . . which probably ticked off those existing members even more.



 

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Good...
26 years ago, I had to go to the Persian gulf to join.

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woowoo2 said:   Good...
26 years ago, I had to go to the Persian gulf to join.

  Thank you for your service. I wish I had the balls to do what you did. 

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From additional posts I've read, the backdoor does looked locked. There's still this guaranteed way to join, if you missed the NLSD method:

https://www.navy.com/joining/

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burgerwars said:   From additional posts I've read, the backdoor does looked locked. There's still this guaranteed way to join, if you missed the NLSD method:

https://www.navy.com/joining/

  
Yeah, but they have an age limit, 34-39. 

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Recall that you can qualify if you are related to, or share a household with, a person ELIGIBLE to join but who is not actually a member. Application does NOT require signature of sponsor, just name, last 4, DOB and affiliation.

 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).

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For anyone disappointed by the news in the OP, this might (or might not) be of some assistance:

Linky 

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woowoo2 said:   Good...
26 years ago, I had to go to the Persian gulf to join.

  
I just joined yesterday, since they added Army to the service list I figured I might as well add them to the portfolio.  Funny, it doesn't FEEL like it was 26 years ago....  time sure flies.

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I joined by joining another credit union that was merging with NFCU.

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what was that other credit union name please?

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roboChell said:   what was that other credit union name please?
It was USA Fed Credit Union 

This is where the SD Navy League eligibility started.  When USA Fed existed, anybody could basically join if they joined some association related to the credit union ($5 donation). That disappeared when USA Fed disappeared.  Navy Federal absorbed their charter when they took over, including the part about joining the Navy League of San Diego.  Navy Federal never advertised that eligibility, but the secret got out in the wild.  That ended last week.

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I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?

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Some years ago they had the best auto rates around. Not sure if that is still the case as haven't shopped those in awhile.

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LeveragedSpeculator said:   Some years ago they had the best auto rates around. Not sure if that is still the case as haven't shopped those in awhile.  

Yep, they gave me a $400 incetnive to refi my auto loan and drop the rate. The $400 was more than the interest they earned on the life of the loan. They also have decent mortgage rates and generous credit limits.

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I think Penfed has better auto loan rates now. Still easy to join, about $17 to join an organization.

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henry33 said:   I think Penfed has better auto loan rates now. Still easy to join, about $17 to join an organization.
  
Penfed no longer has secured credit cards and Navy still does -- so for a "certain crowd" there is a higher demand to get into Navy FCU.  Penfed has excellent rates and high limits if you have high credit scores (in other words the opposite of those wanting into Navy)

Both of these CUs have excellent rates and services compared to most commercial banks. Penfed sucks for mortgage service though -- but their rates are very competitive.

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Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Periodically Navy offers $0-fee, 0% interest balance transfers on my existing credit cards. Also good CD rates periodically. Also decent auto loan rates - I suppose, periodically.

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Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Initially for me it was their less than 20% down no-PMI mortgage with competitive interest rates.
Now it's the 0% balance transfer credit card with high credit limits.
 

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taylor0987 said:   
Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Initially for me it was their less than 20% down no-PMI mortgage with competitive interest rates.
Now it's the 0% balance transfer credit card with high credit limits.

  
This is a standard benefit offered to all honorably discharged veterans via VA loans.  

For those who aren't veterans but have the means a similar mortgage can be had in the form of pledged assets, however the offering & terms depend on one's broker.  Typically for pledged accounts you would need ~40% of the amount of the purchase to be held in securities however, so that's a big stickler for that benefit unlike VA loans.

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LeveragedSpeculator said:   
taylor0987 said:   
Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Initially for me it was their less than 20% down no-PMI mortgage with competitive interest rates.
Now it's the 0% balance transfer credit card with high credit limits.

  
This is a standard benefit offered to all honorably discharged veterans via VA loans.  

For those who aren't veterans but have the means a similar mortgage can be had in the form of pledged assets, however the offering & terms depend on one's broker.  Typically for pledged accounts you would need ~40% of the amount of the purchase to be held in securities however, so that's a big stickler for that benefit unlike VA loans.

I definitely wasn't claiming that NFCU was the only way to get such a mortgage. I am not a veteran and definitely didn't have 40% of the purchase price of my house held in securities.

However, I did have NFCU membership, so I went that way instead of enlisting in the military and waiting to be honorably discharged before buying my house. (I don't take for granted why I became eligible-my grandfather's service as an officer in the Navy) 

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LeveragedSpeculator said:   
taylor0987 said:   
Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Initially for me it was their less than 20% down no-PMI mortgage with competitive interest rates.
Now it's the 0% balance transfer credit card with high credit limits.

  
This is a standard benefit offered to all honorably discharged veterans via VA loans.  

For those who aren't veterans but have the means a similar mortgage can be had in the form of pledged assets, however the offering & terms depend on one's broker.  Typically for pledged accounts you would need ~40% of the amount of the purchase to be held in securities however, so that's a big stickler for that benefit unlike VA loans.

  
VA loans are only competitive in specific market conditions, generally high cost areas and/or higher interest rates.  Mainly if you both are short on down payment AND have a low income.  (For those that don't know how they work -- the VA loan "guarantees" a portion of the loan which is sort-of like a down payment in that it reduces the finance risk of the lender, but isn't an actual down payment)  The required funding fee for a VA loan is pretty stiff at the closing table if you are not putting much down.  It goes to the VA and not to your loan balance -- it is basically paying the PMI up front.

I never used mine.

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RedWolfe01 said:   
LeveragedSpeculator said:   
taylor0987 said:   
Stubtify said:   I'm a member of a half dozen CUs. What specifically makes Navy Federal so good? What's their killer app?
Initially for me it was their less than 20% down no-PMI mortgage with competitive interest rates.
Now it's the 0% balance transfer credit card with high credit limits.

  
This is a standard benefit offered to all honorably discharged veterans via VA loans.  

For those who aren't veterans but have the means a similar mortgage can be had in the form of pledged assets, however the offering & terms depend on one's broker.  Typically for pledged accounts you would need ~40% of the amount of the purchase to be held in securities however, so that's a big stickler for that benefit unlike VA loans.

  
VA loans are only competitive in specific market conditions, generally high cost areas and/or higher interest rates.  Mainly if you both are short on down payment AND have a low income.  (For those that don't know how they work -- the VA loan "guarantees" a portion of the loan which is sort-of like a down payment in that it reduces the finance risk of the lender, but isn't an actual down payment)  The required funding fee for a VA loan is pretty stiff at the closing table if you are not putting much down.  It goes to the VA and not to your loan balance -- it is basically paying the PMI up front.

I never used mine.

  

The VA funding fee is waived though if you have any service connected disability %. 

I personally used both PenFed and Navy Fed for two separate properties with my VA loan benefit.  As many have stated PenFed is insanely unorganized and somewhat painful to go through.  Navy Fed was much better and at the time it was the best rate I could find. 

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tuphat said:   Recall that you can qualify if you are related to, or share a household with, a person ELIGIBLE to join but who is not actually a member. Application does NOT require signature of sponsor, just name, last 4, DOB and affiliation.

 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).

  Yep. Just joined yesterday. My brother is active duty Air Force (currently in Jalalabad) and isn't a member of NFCU.

rated:
I just joined the navy league a ew days ago. Bummer

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