USAA vs. NFCU

[LazersGoPEWPEW]

I swore in yesterday and am looking to do my banking with either USAA or NFCU. My qualm is that from close friends is that both are recommended yet I've heard a little more leaning towards USAA. So I'm unsure as to which would be better.

What are you recommendations? I'll be switching my auto-insurance to USAA definitely.

One of my focuses is trying to reduce the amount of banks that I am using.

I know that USAA is all online and I'm wondering how you all that are members view that.

Also how easy it to access a NFCU branch. I've read some threads that would lead me to believe they aren't as widespread.

Also should I simply consider using both and using one as a primary? If so which would be the best to use as a primary?
Having searched on the board a little bit I found some dated information but still some mixed view.

I'll add a poll also.

 

[7562Driver]

I use USAA as my primary only because I was banking with them before NFCU. I have an account with NFCU because I used them for a motorcycle loan. It's nice to have both because you can compare rates and offers to find the best fit for your banking and lending needs. It's also nice to have both because as you have stated NFCU is a physical bank while USAA is all online.

NFCU also just announced an active duty checking account in which you get up to $20 reimbursed for ATM charges. And you get free checks for life. USAA reimburses for ATM fees, I can't remember the max amount and you have to pay for your checks with them.

Hope that helps a little.

 

[arbor]

USAA's customer service has been discussed on here in depth before, no need to beat a dead horse. It's top notch.

Their rates are tough to beat pretty much all around, whether you're talking insurance or money. I use them for absolutely everything except for a couple of CD's, and even their CD rates are starting to make me want to bring those over.

Never had an issue with not having branches, they reimburse your ATM fees and 99% of our financial needs are met online in this day and age anyhow.

Your want to consolidate your accounts to one institution would probably work better with USAA, as Navy Fed may very well have competitive rates in some aspects, however not as well rounded as USAA.

My .02

 

[Machine]

I guess you're talking about checking and deposit accounts when you say "doing my banking." I think they both suck in that regard. NFCU has better vehicle loan rates and physical branch locations which is why I have a few accounts open with them and I have no bank accounts with USAA.

If you're looking for a checking account, it doesn't get much better than Schwab's Investor Checking.

There's tons of savings accounts out there. I'd recommend Provident Direct.

Credit cards really depends what you're after. For me, I use Pentagon Federal's Platinum Rewards Card which gives 5% back on gas, 2% on groceries, and 1.25% on everything else. And, it credits the cash reward automatically every month.

 

[MasterBates]

I actually use the following:

USAA for insurance, some loans (PUMA, loan to pay lawyer), and 1 credit card.
NFCU for most of my car loans (easier to deal with if they have a local branch, and rates were the same), mortgage and a credit card.
Bank of America for my normal checking account and most online bill pay. I believe they have free checks, but I am still on my original batch from 3 duty stations ago.

I need to actually use a walk in branch at least once a month for a cashier's check, and NFCU does those for free. If I am not near one, BoA does them for $2. USAA will do them, but when you need the check in your hand TODAY, it doesn't work.

If I did not need to actually use a branch somewhat frequently, I would probably use USAA exclusively.

 

[Schnugg]

You need a both category.

NFCU - checking savings accounts, car loan, kid's accounts

USAA - mortgage, investments, insurance, credit card, savings account

Each has something to bring to the table.

 

[LazersGoPEWPEW]

Can I add a both category?

 

[Pilot123]

USAA Web Bill Pay is awesome. They'll even go to bat for you when the people say your payment was late or not received. Had a company say the never received the electronic payment a few months ago. USAA busted their heads and took care of it for us.

 

[scoolbubba]

yea, i'd echo the both sentiment. I use USAA for paying bills online and whatnot, and i have my career starter loan through them, as well as insurance. In terms of rates on loans though, NFCU has had some better rates (i've been looking at mortgages) and I've had a checking account open with them since I was a mid. It's good to be able to walk into a branch sometimes.

 

[The Chief]

While you are collecting more data, here is a thread that 38 folks stepped up to the plate and gave some very good information regarding accounts. You might want to look at that thread while you wait for the new data/polls to roll in.

http://www.airwarriors.com/forum/showthread.php?t=13776

Spot on regarding USAA and insurance. I believe they are the best insurance to be had, auto, home, umbrella or what ever.

I believe that both USAA and NFCU are both sound financially. But it would be a consideration to have both in that your savings in either are insured by the F-Government up to $100,000, per institution. That does not include any interest you may/have earned. Soo.... it makes sense to diversify your savings into both, thus having an insured account up to $200,000.

NB: A temporary increase in insurance on SOME accounts was placed in effect by the so called $700 Bln bailout of financial insitutions.

 

[navy09]

I'll throw my hat in the ring for USAA.

I got the pre-Commissioning loan from them and have since shifted all banking except my checking account over to them. They have very fine customer service compared to the other banks I've banked with (BofA, Wells Fargo). You can do almost anything online or you can just call them.

 

[Clux4]

I use both for various reason but Bank of America has better Mortgage rates. Even the customer service rep. at NFCU advised me to go with Bank of America.
NFCU seems to have a better rate for used cars.
USAA does my auto and homeowner's insurance. I was talking with a friend couple months ago and he adviced me to look at Geico. So I might be jumping ship pretty soon.

 

[DanMa1156]

I have both. I like the access NFCU provides on bases, but the customer service, rates, insurance, and so on from what I've seen so far is far superior at USAA.

Just wondering what are people's qualms with USAA Checking? I have an account with them and have not incurred problems. I'm 99.99% positive I didn't have to pay for my checks... The ATM Reimbursement is great (though I think NFCU offers this as well with certain provisions).

 

[Flash]

I use USAA as my main bank but NFCU's rates on many loans cannot be beat. When looking at car loan rates NFCU had the best rates of any of the banks/CU's mentioned above, by at least 2 percentage points. I also use them as a 'local' bank since there is a branch about 3 miles away. Other than that I use USAA.

 

[Praying4OCS]

I have to echo it all as well.

USAA - checking, savings, car insurance, bill pay, customer service, etc...
NFCU - auto, motorcycle and other loans as well as cashier checks.

NFCU used to have a commisioning loan for $30 k at 2%, but now is only available to Academy (which is BS!)

NFCU is also only accessed by me (not the wife), so I have an allotment to it for the important stuff like "wardroom dues".