NFCU versus USAA ?

Discussion in 'Naval Academy - USNA' started by inzane99, May 4, 2009.

  1. inzane99

    inzane99 Member

    Joined:
    Jun 28, 2008
    Messages:
    54
    Likes Received:
    0
    With the permit to report packet came info on the NFCU and a form for direct deposit of Navy net pay. Somewhere on this forum I read where mids prefer USAA over NFCU. On the listserve most parents think NFCU is the way to go because of NFCU being on Academy grounds. Please provide some insight on both USAA and NFCU.
     
  2. parkhurst89

    parkhurst89 Member

    Joined:
    Jun 12, 2008
    Messages:
    141
    Likes Received:
    0
    Become a member of both. Open a banking and savings account with NFCU to take advantage of the branch on the Yard. Get your auto insurance and first credit card through USAA. Then choose USAA a few years after you graduate to simplify your life and enjoy the fantastic USAA customer service. That way you can become a USAA 25-year member giving advice to candidates on which financial institution to choose. :wink:
     
  3. usna1985

    usna1985 USNA Alumnus

    Joined:
    Jun 9, 2006
    Messages:
    4,510
    Likes Received:
    461
    Both are great. We've used NFCU for banking and USAA for insurance since day one. I think it's really a matter of personal preference. I don't think it hurts to sign up for both -- there is no "cost" as there is with most banks. See what you prefer.
     
  4. Capt MJ

    Capt MJ Member

    Joined:
    Sep 27, 2008
    Messages:
    2,366
    Likes Received:
    1,834
    Most Navy and Marine Corps officers are members of both groups, gets all needs covered by companies who know and understand the mobile lifestyle and unique needs of the military. Both have excellent reputations for serving their members well. You would be hard-pressed to find any officer on the Yard who didn't have both, and used them in tandem to meet all their financial needs.
     
  5. LineInTheSand

    LineInTheSand USCGA 2006

    Joined:
    Nov 25, 2007
    Messages:
    8,756
    Likes Received:
    1,005
    When I went to CGA we were signed up for NFCU....after two years we received our "car" loans from USAA, and had that account too. Our pay also switched over to USAA. I maintained my NFCU account until I realized that NFCU didn't recognize the U.S. Coast Guard as a branch of the military. Yes, they represent Army, Navy, Marine Corps, Air Force and DoD civilian employees, but no Coast Guard. I closed my account (based on principle.) NFCU was open to CGA cadets and I believe one or two other CG commands...but it was not for me. :thumbdown:
     
  6. Profmom2

    Profmom2 Member

    Joined:
    Feb 26, 2007
    Messages:
    322
    Likes Received:
    0
    My Mid got rid of NavFed after plebe year and uses USAAA. He says that the branch on the yard is not all that important. USAAA deposits are very easy and done on line from your room (scan check and send - instant deposit) ATM fees are all reimbursed, liked the 2nd class loan better, insurance was easy for renters and car, and liked the investments with USAA - started a roth during youngster year. It is a matter of preference that after you get to USNA you will be able to determine for yourself.
     

Share This Page