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Benefits Of Navy Federal Credit Union

Buying a home is one of the biggest decisions you’ll ever make. It’s also one of the most stressful financial commitments you can take on.

Navy Federal Credit Union has been helping military members and their families with mortgage loans for over 70 years. Their commitment to service, affordability, and flexibility makes them an ideal lender for your home loan needs.

So, what are the benefits of Navy Federal Credit Union? Navy Federal Credit Union offers its members a number of benefits, including low-interest loans, high-yield checking and savings accounts, and a variety of member discounts. As a not-for-profit organization, Navy Federal Credit Union gives back to its members through higher rates on deposits, lower loan rates, and fewer and lower fees.

Navy Federal Credit Union

You deserve a custom solution that fits your unique situation – whether it be buying or refinancing a new property or refinancing an existing loan.

Navy Federal Credit Union offers several different options depending on what works best for you at any given time in your life cycle. Here is a comparison of Navy Federal and Wells Fargo.

Benefits Of Navy Federal Credit Union

Navy Federal Credit Union is a military bank that offers the best banking services in the country. Now, let’s discuss all the Navy Federal Credit Union benefits. First of all, they offer free checking and savings accounts, great rates on their Navy Federal Credit Union mortgage loans, and some of the most competitive CD rates around.

Navy Federal also has one of the lowest overdraft fees in America.

The only downside to opening an account with them is you have to be either on active duty or retired from service – but for those who qualify, it’s well worth it.

This blog post will discuss the benefits associated with Navy Federal Credit Union as it relates to their loan rates, deposit products, and other financial service options they provide.

Worldwide Network Of Branches And ATMs

Navy Federal Credit Union has been providing members with a variety of services for over 75 years.

It’s been around since 1933 when it was established by Congress with the objective of providing affordable credit for members of the U.S. Navy as well as other government employees who were not eligible for membership in civilian banks or credit unions due to federal regulations at that time (Navy Federal Credit Union).

They are now one of the largest credit unions in America with more than $74 billion in assets and nearly 3 million members. They have more than 3,500 branches and 18,000 ATMs around the globe to ensure that you can always find one close to you.

Navy Federal offers competitive rates on loans, mortgages, and savings accounts so that you can access your money when it suits your needs best.

You also get great benefits like free checking with no minimum balance requirement, mobile banking app for easy account access and management from anywhere in the world, and fraud protection service on all debit cards which includes identity theft insurance coverage up to $500 per cardholder (depending on card type), plus many more perks!

Federally Insured Funds

Navy Federal Credit Union is a federally insured and regulated credit union. Navy Federal Credit Union offers protection with federally insured funds.

This is why they are a safe way to protect your money and grow it. They are also one of the nation’s largest credit unions, which means its services are available nationwide in all 50 states.

All deposits are federally insured so that in the event of a bank failure your money will be protected by up to $250,000 per account holder.

This means that if your savings account balance was $1 million before an FDIC-insured institution failed, you would receive $750,000 after the failure because only funds up to $250k are guaranteed by law.

Members First

Navy Federal Credit Union has always put members first. As a not-for-profit credit union, every member carries an equal say in the future of the company.

Navy Federal Credit Union wants to ensure that each member has an equal say in the future of the credit union and can attend annual meetings.

Navy Federal is proud of being a not-for-profit because it means every account holder owns this company equally. No matter how much you deposit or borrow from them; your voice matters when it comes down to who makes decisions about things like which services they offer or new ways of finance that might work differently.

Membership Benefits

Navy Federal Credit Union is going to make sure you have the best experience as a customer.

They strive for an honest and open dialogue that will help their members get through difficult times, whether this means cutting out unnecessary fees or just being someone who listens when they need it most.

Navy Federal Credit Union reduce interest rates and fees by giving back funds to members so they can spend less money on things like loan payments or service call charges.

Valuing The Armed Forces

Navy Federal Credit Union has a long history of supporting the military.

This includes active duty, Guard and Reserve members as well as veterans. Navy Federal offers VA mortgages to qualifying military personnel and their families who need help with financing for a home purchase or refinance.

They also provide free financial counseling services to individuals in the armed forces community by phone or online chat making this an all-inclusive service that is easy to access.

NFCU’s dedication to helping those who serve our country is shown through their wide range of products and services that are tailored specifically for them including the following:

  • Mortgage lending assistance,
  • Checking accounts,
  • Savings account,
  • Money market account,
  • Credit cards with benefits such as cashback and income verification,
  • Online tools such as the active duty portal for military members who are not in a branch of service that supports the portal.

Navy Federal is also proud to support National Military Family Month throughout May, providing information on services geared toward supporting their troops.

The Cons of Using Navy Federal CD Rates and Other Services

One of the biggest disadvantages of this credit union is the fact that it has a really small branch network. As I’ve mentioned before, it results in poor customer service when you are in need to speak to an agent in person. Despite being the largest credit union in the United States, the number of locations and local branches isn’t as nearly as widespread as their members.

The other potential downside is that they have strict requirements for membership. While the majority of credit unions in the US offer membership if you donate to a charity, Navy Federal doesn’t have that kind of an offer.


What Services Does The Navy Federal Credit Union Offer?

Navy Federal Credit Union offers a wide range of services to members, including convenient banking, a variety of loans to meet your needs, and affordable car insurance. This includes easy ATM access, online account management, and customer service available 24/7.

Some of their additional benefits include:

  • Low rates with no monthly fees or maintenance charges for daily checking accounts,
  • Free first-class shipping of checks when you order them by phone or online from their US Postal Service partnerships,
  • 5 pens per customer yearly when ordering checks through the USPS,
  • No debit card fee if you also have a checking account Member appreciation services like CD specials and market data,
  • Their online banking service provides you with 24-hour access to all of your financial information via the internet.

Which is Better: USAA or Navy Federal Credit Union?

Depending on what you’re looking for in a bank, either Navy Federal or USAA might be best for you.

For example, while both banks offer easy loans, USAA is much more expensive with fees and interest rates.

There are many advantages of working with this credit union, such as the competitive Navy Fed mortgage rates. But where they fall short is customer service because it has fewer brick-and-mortar branches. This means that if the need arises for you to speak to a representative in person and ask some questions or discuss certain dilemmas, it won’t be easy to resolve. You will often have to wait weeks or months for an appointment at one of their few locations (or go hours away to find one).

Meanwhile, USAA will generally make an appointment with someone within 24 hours if not sooner.

Why Should I Get A Navy Federal Account?

Navy Federal Credit Union is a private, not-for-profit organization that understands the mission of active duty military service and provides as many products and services in support of that mission as possible.

With no charge for your $100 Checking Account, you are eligible to get low Navy Federal mortgage rates, and generally low rates on most personal loans. Additionally, you will receive great rates on car loans, but most of all, you will get competitive Navy Federal Credit Union mortgage rates. In an addition to all of this, there are many other great products you’ll get when you join or open an account now – it’s never been easier to show where your loyalty belongs! 

With websites available in both English and Spanish (and international sites planned) to make banking easy from anywhere abroad or stateside, Navy Federal gives you an opportunity to build a relationship that will last long after your active duty service has ended.

Navy Federal Credit Union is one of the few institutions today that truly understands active duty military life, and they are committed to providing financial products and programs that support our mission.

Can Non Military Use Navy Federal?

Navy Federal Credit Union is designed to serve the Department of Defense which includes the Coast Guard, Army, Air Force, and Navy members. This means they can’t provide service for civilians or overseas branches, but instead are limited to current military and US government employees living in the USA.


Navy Federal Credit Union is a financial institution that provides banking services for military members, veterans, and their families.

The company has been around since 1933. It offers checking accounts, savings accounts, IRAs, mortgages, and car loans along with many other products to help you manage your money.

With Navy Federal Credit Union there are no annual fees on any of these products so it will be easy for all customers to save some cash while utilizing the best in quality customer service!