Posted on 17-06-2008
Navy Federal Credit Union Branches Out
Filed Under (Financial) by mike

Navy Federal Credit Union is expanding its eligible membership to include all branches of the armed forces. The services of Navy Federal Credit Union will be made available Navy, Army, Air Force, Marine Corps, active duty, reserve, and guard personnel and Department of Defense (DOD) civilians.

When Navy Federal Credit Union opened its membership, other credit unions were concerned that they would lose customers.

 

Navy Federal Credit Union is the world’s largest credit union so when it announced its plans to double its branches to 300 it put other credit unions on notice.

Unlike commercial banks, credit unions are owned by their members and are exempt from most taxes. These tax breaks enable credit unions to pay higher interest rates on deposits and charge lower rates on loans.

Don’t let the word federal or navy fool you into thinking this is any more than just a bank by another name.

There are many other credit unions and many with federal in the title. For example, US Federal Credit Union sounds national but serves only the twin cities of Minneapolis-St Paul, Minnesota.

One other prominent institution is the Education Credit Union, which caters to members who are employees of all public, private or parochial schools, colleges or universities, all students of all public, private or parochial schools, colleges or universities, and a raft of other categories that makes just about anyone eligible. But the one thing Education Credit Union is not doing now is a student loan program, which has been suspended until further notice. In this club, memberships does not have its privileges.

If you are looking for banking services, credit assistance, loans and mortgages, as with any consumer product, be sure to shop around for all possibilities.

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Comments

bloggingzoom.com on 17 June, 2008 at 11:50 am #

Navy Federal Credit Union Branches Out…

Navy Federal Credit Union goes out to all the armed services to include even civilian DOD employees. what is it about the rules for credit unions that’s different from banks? Why is there any need for a dual, or triple system of financial services?
A …


navy fcu | Lasts information on 17 June, 2008 at 2:10 pm #

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navy fcu | Hottags on 17 June, 2008 at 2:10 pm #

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navyfederal | Lasts information on 17 June, 2008 at 2:17 pm #

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navyfederal | Hottags on 17 June, 2008 at 2:17 pm #

[...] Navy Federal Credit Union Branches OutNavy Federal Credit Union is expanding its eligible membership to include all branches of the armed forces. The services of Navy Federal Credit Union will be made available Navy, Army, Air Force, Marine Corps, active duty, reserve, …You Know What - http://mikelorimer.bloggerunleashed.com [...]


Danny T. on 25 June, 2008 at 7:38 am #

Danny T….

I declare war on thee….


Jessie on 7 July, 2008 at 11:07 pm #

Interesting opinions which are diverse and give reason to a great deal of thought….


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