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Navy Federal Credit Union has been in business since 1933 where they started with only seven members and now they have reached over five million members. Navy Federal is focused on military membership and their vision statement is, "Be the most preferred and trusted financial institution serving the military and their families." They focus military members, but you can change employers, move, retire, get married, and leave the military without leaving the bank. Their motto is "once a member, always a member". Navy Federal offers everything you need from checking accounts, IRAs, student loans, money market plans, mortgages, and auto loans.
Navy Federal Credit Union has a lot of products and services that they offer exclusively to their members. They offer several types of loans and banking options. Not only do they have a wide variety of services, but they also offer a helpful customer service system where you can call in or easily chat online.
With so many options and loan add-ons, its clear that Navy Federal Credit Union cares a lot about the status of your loan. Plus, it will be hard to beat the interest rate prices at Navy Federal
Keep in mind that Navy Federal Credit Union is membership based. Only people who have served in the military, or those related to a person serving in the military can qualify for a loan. This greatly limits who can use Navy Federal's services. Navy Federal also does not provide free credit checks, but uses a third party service to provide the scores.
While Navy Federal Credit Union has a lot to offer, they are also missing a great deal of pertinent information. It is important to have information available for potential customers who are shopping around for the right auto loan provider. This makes it easier for customers to compare auto loans and find the right fit for their needs. It also makes it easier for our team to rank the services of companies in the industry. We would like to see more information regarding loan amounts, mileage limits, and bad credit loan options.
I've been with Navy Federal going on 3 years now and I am very happy with them. When I went in to get my car loan it was super quick and easy. I was able to go in, get approved for the amount I was looking for and with a great interest rate, and got my new car all within the same day. I've had my car for a little over a year now and it's already almost paid off.
Easiest time I ever had buying a car. Once approved, a blank check was sent to me to use to pay for my car.
I've had great experiences banking with Navy federal. Their customer service is stellar and they're so willing to help you in whatever way they can.
I am disappointed that NFCU charges its new military members, i.e., new sailors, over 17 percent simply because these sailors haven't a history yet of credit so their credit scores are low. Its lowest rate is around 13 percent I think, and yet it only pays interest on savings/checking at less than 2 percent. So the sailors pay 8 times the rate they would get for savings when they have an overdraft that might get them through until their bi-weekly paychecks are electronically deposited in their accounts. Really NFCU...smh! Alll about our sailors, right!