Navy Federal vs. Marine Federal

[HH-60H]

Talking about NFCU and USAA (I'm a member of both), which one should I get a car loan from? I will probably be replacing my '88 chevy nova this spring and just wondering which one has worked better for you guys.

Good question. I have both and I almost used the USAA car buying service, but found a sale at the last minute. I ended up taking the loan from NFCU because it was a 1.9% APR. That is not to say that I don't agree with everyone else about USAA. It really is a good company. I didn't mention them in my first post because the question was regarding MFCU vs. NFCU.

 

[Herc_Dude]

Talking about NFCU and USAA (I'm a member of both), which one should I get a car loan from? I will probably be replacing my '88 chevy nova this spring and just wondering which one has worked better for you guys.

USAA for the car loan. I am a member of both, do my banking through NFCU and everything else through USAA. The only complaint I have heard from some guys about using USAA is the lack of ATM thing. Personally, Im always using a debit card and rarely take out cash besides cash back at the store, so it wouldnt matter much to me. Personally thinking about consolidating everything into them and only dealing with one institution.

I tried to deal with MFCU and found them to be rude, highly unprofessional (just look at the differences between the MFCU and NFCU websites...) unknowledgble, unhelpful ... no need to continue, you see where this is going ...

 

[motiv8r]

Thanks very much for all the information, gents. I have done a couple hours of web surfing and still have a couple of questions.

Because they have no ATMs of their own, USAA will reimburse any ATM fees up to something like $20.

Seriously? So even if you take out money at one of those usurious 7-11 ATMs that charge like $3.50 they'll pay you back for that fee? I couldn't find this mentioned anywhere on the USAA site, however bear in mind that I am computer-retarded.

Also, it seems like a lot of you guys have Navy Fed bank accounts even though banking is available through USAA, which seems to have the reputation as a superior bank....is there any specific reason for this?

Thanks again.

 

[zab1001]

I've had issues dealing with USAA banking while on deployment (had an account with them and NFCU).

Eventually it came to a head and now I deal exclusively with NFCU for banking (overseas locations, much more understanding regarding deployments and being based overseas) and USAA for insurance (who, BTW, will not provide auto policies in certain South American countries...which is horsesh!t).

 

[HAL Pilot]

Seriously? So even if you take out money at one of those usurious 7-11 ATMs that charge like $3.50 they'll pay you back for that fee? I couldn't find this mentioned anywhere on the USAA site, however bear in mind that I am computer-retarded.

Try an $8 ATM fee at the local strip club... :icon_smil

I was wrong, it's $15 for other banks ATMs. From inside the members area of the website:

USAA can be your branch bank no matter where you live or serve. Discover more than just free checking when you bank with us.


Compare the annual savings for yourself.

No monthly service fees regardless of your balance SAVE $127
Free withdrawals from any ATM worldwide SAVE $164
Automatic ATM fee refunds when using other banks' ATMs — up to $15 a month SAVE $180
Free USAA Web BillPay® and 24-hour online banking SAVE $66
Free USAA Debit MasterCard® that earns you ½ percent cash rewards EARN $44
Free checks for the life of your account SAVE $14
Total Annual Savings: $595
Source: bankrate.com. (Fall 2004 survey)


Plus, enjoy these great online services:

• Unlimited check writing privileges
• Free postage-paid deposit envelopes and slips
• Free overdraft protection and funds transfer
• Free online banking and statement delivery
• Online options such as stopping check payments, requesting official checks, transferring funds, downloading account information with Quicken® and Microsoft® Money and paying bills with free USAA Web BillPay

 

[HH-60H]

Free withdrawals from any ATM worldwide SAVE $164

I do think there is a $2 or $2.50 limit per transaction. Unless that changed in the last couple years.

 

[gregsivers]

I do think there is a $2 or $2.50 limit per transaction. Unless that changed in the last couple years.

I think you're right that they cap at one of those two numbers.

 

[HAL Pilot]

I do think there is a $2 or $2.50 limit per transaction. Unless that changed in the last couple years.

I'm pretty sure I got the whole 8 bucks back. I usually get my cash at the grocery store, WalMart, Target, etc. checkout where there is no charge. Only time I ever use the ATMs is at the strip club (...I live in Vegas and get these calls from the Hawaiian guys on lay overs - "come pick us up and take us to Cheetahs!" ). I always seem to have the correct ATM surcharge reimbursement each month.

 

[Whalebite]

Navy fcu career starter loan 0$
Marine fcu starter loan 0$
USAA starter loan 25,000 at 3.59% if you have any interest rates more than that (which you do) it pays to use it. It will save a lot of money on interest on a house for example.
(information based on last month)

 

[squeeze]

Navy fcu career starter loan 0$
Marine fcu starter loan 0$
USAA starter loan 25,000 at 3.59% if you have any interest rates more than that (which you do) it pays to use it. It will save a lot of money on interest on a house for example.
(information based on last month)

Funny.... I got a NFCU Career Starter Loan of $18,000 @ 1.75% (along with the USAA $25,000 @ 3.4%... yay debt)

Guess they did away with that.

 

[mules83]

I was talking to one of my friends who is doing the starter loan for $25000 around 3%. He will not have to start paying it off till 3 months after commissioning. Thats nice, I thought it was 90 days from getting the loan. So I might move up my plans on getting it.

 

[skidkid]

Funny.... I got a NFCU Career Starter Loan of $18,000 @ 1.75% (along with the USAA $25,000 @ 3.4%... yay debt)

Guess they did away with that.

That is a sh!t ton of debt but maybe smarter than I was as I just used my credit card to make ends meet as a 2ndLt trying to live a Capt lifestyle

 

[DocT]

I was talking to one of my friends who is doing the starter loan for $25000 around 3%. He will not have to start paying it off till 3 months after commissioning. Thats nice, I thought it was 90 days from getting the loan. So I might move up my plans on getting it.

How soon before commissioning would one qualify for that loan?

 

[PropStop]

USAA = Awesome
NFCU = SUCKS

Now NFCU did have a nice $18K loan that I took, no question that was a good deal. I still have my primary checking through them (though that's changing soon) but their customer service SUUUUCKS. When you go into their branches you feel like cattle. They never have enough employees, that which they do have couldn't get a job as attack dogs. USAA has been much nicer to deal with.

 

[mules83]

How soon before commissioning would one qualify for that loan?

Im not sure exactly when my friend is getting this loan but it will be soon. His old truck kind of caught fire in the rotc parking lot so its pretty much dead.