Navy Federal Direct deposit

batorthopa

batorthopa

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Dec 10, 2014
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I set up a Navy Federal CU account online for DS. PTR packet had form to fill out to set up account but I already did it. It also had a perforated form at the bottom regarding direct deposit of Navy pay to the account. Does he send that in or turn it in I day?
 
Great question. DD fiilled it out and sent in in but there was obviously a blank or two on the perforated piece that could not be filled in (account number comes to mind). Don't think it hurts either way as there is a processing station for NFCU on I-Day that will likely take care of it.
 
The PTR checklist with due dates should have the answer. If i recall correctly, my DS took his NFCU card with him on I-Day. Another mom suggested that I be on the account with him so that when he is travelling, it makes it easier if I have to access his account.
 
USAA for all. Works best for checking, savings and investments.
 
Why would you recommend USAA vs. Navy Federal?
Just trying to gather information so we can get an account set up for DD before I-day.
 
Just for another perspective, I've had Navy Fed for my daily banking for 15 years or so and have had no issues. I really like their car loans too.

I use USAA for all of my insurance needs and have been very happy with them for over 15 years in everything from renters to homeowners to car and personal property.

I don't think you can go wrong with either NavyFed or USAA for your banking needs. USAA used to be ahead of the game in regards to mobile banking with scanning deposits, but NavyFed has that now too.
 
I agree with kp2001. I have had USAA and NFCU accounts since I was a Mid. Most Mids end up with both. I have always found NFCU car loans cheaper. The big advantage of NFCU is they are on campus which makes it easier for Mids. USAA does reimburse for ATM fees and there is a USAA ATM in down town Annapolis at CVS but that doesn't help when you can only leave the Yard one day a week. You can pretty much do everything from the mobile app for USAA also. Whatever bank wins their 2/C loan bid is pretty much who most will end up using for direct deposit, etc as its required as part of the loan. Our class that was won by USAA, but NFCU won a year later. You can always open up NFCU and once the academic year starts, they can open their own USAA account.
 
There has not been a bid process at USNA since about 2008. Both NFCU and USAA offer loans. NFCU tends to offer as the 2/c shoulder boards come to rest on the new 2/c; USAA waits until after 2/c obligation is signed, September-October, in a more conservative approach. Many mids take NFCU first for an immediate need, then re-fi at no cost if USAA offers better loan terms.

Most sea service people have both USAA and NFCU. All good.
 
Keep in mind that I have both NFCU and USAA... There is a relatively new USAA financial office outside the yard by the vistors' center now on Prince George St.... USAA current loan is $36k vice NFCU of $32k
 
NFCU is more convenient while a mid since their office is right outside the Mid Store. USAA has great investment counseling but is not as convenient as NFCU for personal banking.
 
md403 said:
Keep in mind that I have both NFCU and USAA... There is a relatively new USAA financial office outside the yard by the vistors' center now on Prince George St.... USAA current loan is $36k vice NFCU of $32k
Click to expand...
Please expand on the $36k VS. $32k loan. Is that the amount a 2/c is offered as a loan? Also is this a 0% loan and what are the usual terms? Can you not take the loan? I believe this would help new plebes and their parents.
 
That is the current 2C loans and current interest for USAA is .75% and NFCU is 1.25%. Hope this helps
 
My son entered USNA with an existing NFCU account. We took him to the super convenient USAA office for renters insurance plebe year. While there, he applied and was approved for a credit card. I can't say enough about how great they are to work with there. Both are good options.
 
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