Headquartered in Vienna, Virginia, Navy Federal Credit Union or Navy Federal is the largest credit union in the United States both in terms of membership and size of the asset. The Navy Federal Credit Union is regulated under the authority of the National Credit Union Administration (NCUA). The NFCU was initially incorporated on January 17th, 1933. In the earlier years of its incorporation, the employees of the Navy Department who were also a member of the federal employees’ labor union and their family members held the sole eligibility of joining the NFCU. Later on July 17th in 1947, it was granted a federal union and renamed as Federal Credit Union (NFCU). Navy Federal Credit Union (NFCU) offers various rewards and profitable banking products to its customers, such as a career starter loan package that makes it popular among the people.
Banking products offered by Federal Credit Union (NFCU)
As the biggest credit Union in America, Federal Credit Union has a host of banking products to offer to its users. Moreover, it also offers usaa starter loan as well along with various other products.
- Checking Accounts– One of the major banking products offered by NFCU is checking accounts. Currently, the NFCU consists of five checking accounts, namely free active-duty checking, free, easy checking, free campus checking, free everyday checking, and flagship checking that varies in certain features.
- Savings Account– Along with a checking account, the also has to offer a savings account to its users. The savings account of it offers 0.25% APY, and an initial deposit of $5 is required to open a savings account in NFCU.
- Money Markets Account– Federal Credit Union offers two types of money market accounts to its customer’s namely jumbo money market savings account and money market savings account.
- Certificates- Apart from savings account and money market account, the Navy Federal Credit Union also offers certain certificates that are at par with the certificate of deposits (CDs). It offers five certificates of deposits such as standard certificates, special EasyStart certificates, SaveFirst account, EasyStart certificates, etc. Additionally, the NFCU offers usaa commission loan, thereby making NFCU a preferable choice.
- Credit Cards – Federal Credit Union offers numerous credit cards to its users that come with various cashback rewards and many other exciting offers that make the credit cards worth the price. The various lucrative rewards offered by NFCU credit cards account for its high popularity among users. The below-mentioned are the list of rewards offered by NFCU credit cards.
- Platinum Card
- Cash reward Cards
- Go, Rewards Card
- Rewards Secured Card
- Visa Signature Flagship Rewards Card
- Navy Federal More Rewards American Express Card
Other financial products offered by Federal Credit Union (NFCU)
Apart from the financial products as mentioned above, it offers numerous other banking products as well that makes it worth a try, such as retirement savings account, education money markets account, home equity lines of credit, education savings account, prepaid and gift cards, navy federal career starter loan, etc.
The top reasons that make Federal Credit Union (NFCU) preferable
Federal Credit Union offers various rewards and profitable banking products to its customers, which makes it preferable. Moreover, Federal Credit Union offers various loans that also include career starter loan usaa that is beneficial for both students and professionals who wish to enhance their career limits to greater extents. Let us have a look at the top reasons that makes NFCU a preferable choice.
- Safety of the funds– While opening an account in a bank, the major worry that takes over our minds is the safety of our money. However, with Federal Credit Union, one can remain assured of the safety of their money in the NFCU. It has its independent agency named The National Credit Union Administration ( NCUA) that constantly keeps a check, supervises, and regulates the various credit unions, thereby ensuring the shares of all the shareholders and perfectly safe and sound.
- Offers various loan options– Another top reason that makes NFCU preferable are the various loan option offered to its customers. Moreover, the NFCU offers special career starter loan packages that are quite lucrative. However, before applying for your loan in NFCU, it is always better to check on the NFCU eligibility that will make the application process quick, easier and hassle-free process.
- The voices of the customers matter the most– the Federal Credit Union (NFCU) consider their members as their owners and hence lays greater emphasis on the voices of their members. The embers of the NFCU hold an equal say in designing the future of the federal union. During their annual meeting that takes place in its headquarters in Vienna, the members of the NFCU are invited and encouraged to share their thoughts and views.
- Offers numerous offers and rewards to their users- Another major reason that makes Federal Credit Union (NFCU) preferable are the various exciting rewards it has to offer to its customers. NFCU has a lucrative nfcu career loan package along with offering dividends to its members, reducing interest on loans, etc. which, in turn, implies that the customers are required to spend less on the amount of the fees.
- Competitive rates on certificates-It offers four certificate options through its Navy Federal, and the majority of them offer better rates as compared to many national banks.
- Zero monthly fees on checking accounts and savings account– The majority of the savings and checking accounts in NFCU do not have any monthly maintenance fees, thereby making Federal Credit Union one of the preferable choices in America.
Thus the various mentioned above are the various reasons that make Federal Credit Union a preferable choice. It offers various rewards and benefits to its customers, such as career loan packages, dividends, zero maintenance fees, etc. Moreover, the numerous banking products such as money markets account, savings accounts, certificate of deposits, etc., offered by the NFCU, USA starter loan are lucrative that making it the first preference among the customers.